Lines of Credit
Convenient and flexible lines of credit
A line of credit is a flexible way to borrow. It can also be a great option for home renovations, education, paying off higher interest debt and much more.
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Convenient access
Access your credit through your TD Access Card1, cheques and EasyWeb online banking.
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Pay interest on what you use
Interest is only charged on the amount you use. You can pay down and continue to access your remaining credit available.
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No need to re-apply
Apply once for a credit limit that you can continue to access (use and re-use).
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Reduce high interest debt
Consolidating your high interest debt? A new low interest rate could mean lower payments.
Our lines of credit at a glance:
Expand Home equity line of credit
Is this right for me?
If you own a home and want a lower rate - you can use the equity you’ve built up in your home to secure a line of credit.
Credit Limit:
Borrow an amount based on the value of your home
Rate:
- Competitive variable rates based on TD Prime Rate
Minimum Payment:
- Pay at your own pace with interest only payments
- Establish periodic payments with a Term Portion or by choosing fixed payments on your Revolving Portion
Fees:
Set up fee
Expand Student Line of Credit
Is this right for me?
If you are a student, this line of credit features a student specific low interest rate.
Credit Limit:
Undergraduate Students: Up to $40,000 Graduate and Professional Students: Up to $250,000
Rate:
- Competitive variable rates based on TD Prime Rate
Minimum Payment:
- Monthly interest-only payments while in school and for up to 12 months after
- After that, pay the greater of $50 or 1% of the outstanding balance each month or any amount greater
Fees:
No
Expand Investment Secured Line of Credit
Is this right for me?
If you have eligible investments and want a low rate.
Credit Limit:
Depending on the investment, borrow up to 100% of the value of your eligible investments
Rate:
- Competitive variable rates based on TD Prime Rate
Minimum Payment:
- Pay the greater of Interest only or $50
- 3% of the outstanding balance upon customer request
Fees:
Security registration fee (amount depends on province)
Expand Personal Line of Credit
Is this right for me?
A line of credit is for anyone.
Credit Limit:
Up to $50,000
Rate:
- Competitive variable rates based on TD Prime Rate
Minimum Payment:
- Pay as little as the minimum monthly payment requirements as set out in your Line of Credit Agreement, or any greater amount up to the entire balance
- Establish regular fixed payments through our Fixed Rate Advantage Option
Fees:
No
Tips for using your Line of Credit
- Use your lower interest line of credit to pay off higher interest debt.
- Use a pre-authorized payment plan and ensure you never miss a payment.
- Pay down your balance with any additional funds so you can to save on interest.
- Available when TD Canada Trust Line of Credit is programmed on your TD Access Card. Fees may apply for Interac® access and the use of other ATMs.
- Subject to the terms of your Overdraft Protection Agreement