Lines of Credit

You can use a Line of Credit for whatever you choose – make major purchases, consolidate debt, remodel your home, take a vacation, or just have it for emergency purposes.

A line of credit is attached to a MasterPlan account, provides great overdraft protection and you pay interest only on the outstanding balance.  You can access your Line of Credit by making purchases with cheques or your MemberCard, ATM or in-branch withdrawals or through pre-authorized debits.

A Kootenay Savings Line of Credit offers great flexibility with highly competitive rates that will help you save money.

FlexLine LOC

Do you currently own a home?  A FlexLine LOC may be just the product for you.  A FlexLine LOC is a mortgage secured, self renewing line of credit available to qualified home owners.  Because this LOC is self-renewing, any credit that is repaid means the funds automatically become available again.  Looking to renovate that bathroom or kitchen, then this may be the product for you. 


Secured LOC

Asecured line of credit uses your current assets as security.  If you have equity in your home or hold deposits at Kootenay Savings a secured line of credit might be for you. 


Unsecured LOC

An unsecured line of credit is another way to take advantage of low interest rates without having to apply for a new loan. 


Student LOC

Are you a student looking for some help with tuition and other expenses?  A student line of credit might be right for you.  At Kootenay Savings we recognize the importance of education and support our members in their educational journey.

We offer financial support to Undergradutes for lines of credit up to $45,000 -$15,000 for your first year and $10,000 for years 2 to 4.  Post Graduate?  We have you covered too!  An additional $10,000 for years 5 and 6 is available.  The minimum line of credit amount under our Student Loan Program is $500 to a maximum of $65,000.

*Pay interest only.  Payments are to be made at least once monthly.  Maximum term at rate is seven years, as long as the member is a student.

**Converts to regular personal loan one year after graduation or 3 months after termination.  Upon Conversion the member will maintain the preferred student loan rate, with a maximum amortization of 10 years.