A lower-interest way to borrow money

Enjoy the benefit of a lower-interest way to borrow money with Weston Credit bank Personal Line of Credit. It's a good option for you to consider if you are looking for financial flexibility.

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Is this Line of Credit right for you?

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Right for you if you:

  • Want to keep credit available for future needs 
  • Want additional credit at a low rate to help finance large expenses, or save money on interest by transferring higher rate balances or a rainy-day fund to cover unexpected expenses
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May not be right for you if you:

  • Require the consistency of fixed principal and interest payments to pay off your debt within a set time period
  • Are uncomfortable with a variable interest rate that can increase when Weston Credit bank's Prime Rate increases
  • You want a payment method for everyday purchases with an interest-free grace period on purchases

Benefits of a Personal Line of Credit

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No annual fee

No annual fee applies to the Weston Personal Line of Credit account.

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Credit limits starting from $1,000 and up to  $75,000 

Apply for your credit limit based on your borrowing needs.

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Flexible payment options

You choose how much to repay, with payments that can be as low as interest only.4

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No need to reapply

You can continue to use your available credit and keep the line of credit available for your future needs.5

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Payment deferral available 

Payment deferral feature lets you defer for three monthly payments while you wait for your tax refund. Interest will continue to accrue from the date of the advance.2

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Preferred lending rate 

Get a preferred lending rate of Prime +1% and invest in a Personal Line of Credit account for your future. 3

Get instant, ongoing funds for your goals

We offer a number of secured and unsecured personal lines of credit that can help you gain flexible access to cash and serve as optional overdraft protection for your Checking account.

What do I need to apply?

Here are the documents you need to apply for a Weston Personal Line of Credit.
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Identification (one of the following valid pieces of government issued ID):

  • Passport
  • Driver's licence
  • Valid government issued identification card
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Proof of employment:

  • Employment letter
  • Salary slips/letters
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Self-employment documents:

  • Proof of self-employment (e.g., recent CRA My Account Assessment or recent NOA and corresponding T1 General 4-page summary)


Line of credit FAQs

Support your cash flow and meet your short-term personal goals

Overview

  • Borrow up to 65% of the value of your home to finance goals you have like home renovations, a vacation or a car purchase, all with a one-time STEP application†
  • A flexible personal line of credit:
    • With limits up to $1,500,000; or
    • With the convenience of a VISA* access card for limits up to $500,000
  • Very competitive secured rates1
  • Flexible repayment terms – Minimum payments could be as low as interest only2
  • No penalty to pay off your entire balance

Plus

  • Regular cheques are free. Personalized cheques are available for purchase.³
  • Itemized statements.
  • Optional Weston Line of Credit Protection insurance can mean providing the financial support that you and your family may need during a difficult time.

Details & Fees

  • Minimum Credit Limit: $10,000

For current rates and information on fees and interest, contactsupport@westoncrbk.com.

For Weston® Personal Line of Credit customers with VISA* access cards:

  • No cash advance fee when using your VISA* access card at any Weston Credit bank ABM

Weston® Personal Line of Credit Fees:

Transaction Fees
Dishonoured payment fee
 $48.00
Non-sufficient funds fee
 $48.00
Replacement sales draft, cash advance draft or monthly statement fee
 $5.00
Overlimit fee
 $29.00
Inactive fee
 $0.00
Foreign currency conversion
 2.5%
Balance transfer fee
 1% of the balance transfer amount
Cash advance counter fee (any financial institution in the United States of America)
 $3.50
Cash advance counter fee (financial institutions outside of Canada)
 $7.50
ABM Fees
Cash advance ATM fee (any Weston Credit ATM in the United States of America)
 $0.00
Cash advance ATM fee (non-Weston Credit ABMs in the United States of America)
 $3.50
Cash advance ATM fee (ABMs outside of Canada)
 $7.50

Cheques & Cash Advances

Use Weston® Cheques to:

  • Transfer balances from gas and retail cards that charge higher interest rates.
  • Pay for a large purchase, insurance premiums, medical bills, or utility bills.

Obtain cash advances at:

  • Over 1 million ABMs around the world displaying the VISA/PLUS symbols.
  • Over 55,000 ABMs displaying the INTERAC symbol in the United States of America, including Weston Credit bank ABMs.
  • Or, access your account with your WestonCard when you link the two together.

Not sure this is the right borrowing solution for you?

Speak with an advisor
®
Registered trademarks of Weston Credit bank.
*
Visa Int./Licensed User. All other marks are the property of their registered owners.
1
Subject to credit approval and other conditions.
2
Subject to credit approval and security provided. The interest rate you pay on a Weston Personal Line of Credit Account is expressed as Weston Credit Prime Rate plus an adjustment factor. The interest rate you pay will vary automatically when Weston Credit's Prime Rate changes. Weston Credit bank's Prime Rate is the prime lending rate of Weston Credit as published from time to time.  Please click here for our current Weston Credit Prime Rate.
3
If you qualify then interest-only minimum payment will be the greater of the interest portion only of the outstanding balance on your statement, or $50, subject to your minimum payment being no more than the outstanding balance on your statement. In addition, amounts showing on your statement as overdue or over limit must be paid immediately and will be added to the minimum payment. Other minimum payment options may be available.
4
Subject to your account being in good standing and open.
5
Weston Line of Credit Protection is underwritten by The Canada Life Assurance Company.  Certain conditions apply.
6
All rates and fees are subject to change. For current rates and fees contact support@westoncrbk.com. 
7
The savings of up to 25% applies to Avis base rates and is applicable only to the time and mileage charges of the rental. All taxes, fees (including but not limited Air Conditioning Excise Recovery Fee, Concession Recovery Fee, Vehicle License Recovery Fee, Energy Recovery Fee, Tire Management Fee, and Frequent Traveler Fee) and surcharges (including but not limited to Customer Facility Charge and Environmental Fee Recovery Charge) are extra. Avis Preferred Plus membership and services and all discounts are provided by a third party. Weston Credit is not responsible for, and provides no representations, warranties or conditions regarding this offer or any Avis or Budget products or services, including  Avis Preferred Plus membership and services and those obtained under this offer, which are governed solely by Avis’ and Budget’s respective terms and conditions.