Borrowing

Overview

A variety of options to fit your every need.

Whether you’re looking to renovate your home, buy a new car or cover the cost of a much-deserved vacation, we can help you achieve your plans and dreams. We offer competitive rates on a variety of loans, lines of credit* and credit cards, so you can find the right solution for your specific needs.

Choose the option that's right for you

Personal Loan

A flexible loan for a major purchase like a home reno or a car.

Features and Benefits:

    • Fixed or variable rates
    • Weekly, biweekly, semi-monthly or monthly payments
    • Flexible terms (1 to 5 years)
    • Payments via direct deposit, automatic funds transfer, or telephone or online banking

Investment Loan

A lump sum to help you maximize your RRSP contributions.

Features and Benefits:

    • Maximize your RRSP or catch up on missed contributions
    • Benefit from a tax deduction on your contribution today
    • Allows your investments more time to grow tax-free
    • Fixed or variable terms

Outdoor Adventure Loan

Flexible financing to buy an RV, motor home or trailer.

Features and Benefits:

    • Fixed or variable rates
    • Weekly, biweekly, semi-monthly or monthly payments
    • Payments via direct deposit, automatic funds transfer, or telephone banking or online banking
    • Terms of up to 15 years

Personal Line of Credit

Access funds quickly and only pay interest on what you borrow.

Features and Benefits:

    • Finance a major purchase or just be ready for the unexpected
    • Flexible payment options, including interest-only
    • Credit lines from as low as $5,000
    • Low variable interest rate

Secured Line of Credit

Leverage your home equity to access funds at a lower rate.

Features and Benefits:

    • Great for larger projects such as home renovations
    • Flexible payment options, including interest-only
    • Credit lines from as low as $5,000
    • Low variable interest rate

Student Line of Credit

An easy solution to help cover tuition, books and rent.

Features and benefits:

    • Access up to $10,000 per year ($40,000 over four years of study)*
    • Interest-only payments while in school and up to a year after graduation
    • Low variable interest rate

Investment Line of Credit

A line of credit to buy investments through Alterna or Qtrade.

Features and benefits:

    • Revolving line allows you to draw funds as needed
    • Can help maintain recurring deposits to investment accounts
    • Flexible repayment options, including interest-only
    • Credit lines from as low as $5,000

Loan Calculator

Use our Loan Calculator to help determine how much you can borrow and what your repayment schedule might be.

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How to use your line of credit

A line of credit acts as a preset borrowing limit. It provides you with the flexibility to access extra money quickly when you need it.

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How can we help?

*Approval and credit limit are subject to Alterna’s credit approval criteria.

†Payment Protection Legal Disclaimer:
Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.


Your financial well-being comes first

Welcome to a better way to bank. Our knowledgeable team puts your financial well-being first with good, caring and transparent advice while offering all the products and services you need.