A TD Personal Line of Credit gives you ongoing access to the cash you need. You can repay and reuse your credit again and again, with no need to reapply.
A TD Personal Line of Credit could help you save money by paying off higher-interest credit cards, debt and credit.
Whether you need a new roof or a complete renovation, a line of credit can help make it happen.
Post-secondary education can be expensive. A line of credit makes it easy to manage the costs as they arise.
With eligible investments as collateral, you’ll pay less interest on your borrowing than you would with an unsecured line of credit.
TD has Lines of Credit to help achieve your borrowing goals, and you pay interest only on the funds you’re using.
Have the credit you need, when you need it
A way to cover the ongoing costs of education
Your home can be a powerful financial borrowing tool
Use your eligible investments as collateral
Compare what you might be paying with a loan vs. a line of credit.
Find out how much your school year will cost.
See how they work, and decide which option is best for you.
TD has a range of options for borrowing. Find out how they work.
See what it takes to build a healthy credit history.
Find out the number that tells lenders you’re a good credit risk.
Just answer a few simple questions. We'll suggest TD products to help you achieve your borrowing goals.
Meet with a banking specialist in person at a branch that is most convenient for you.
Our banking specialists are ready to answer your questions and assist you with your borrowing needs.
Speak with a branch specialist at the branch closest to you.
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Tips to help you manage debt
Debt… not your typical topic of conversation with friends or family.
For the most part, a lot of us like to avoid thinking of the topic altogether.
But what we can all agree on is that we would love to get rid of it – or at least pay it down faster.
So here are some steps you can take to help you tackle it.
First off, review your outstanding debts.
After reviewing your budget, rank the debts in the order they should be paid off – the best order is to rank the higher-interest debts first to help you pay less interest.
Second, consider consolidating those higher-interest-rate debts into one loan with a lower interest rate.
Debt consolidation loans can be a good way to help reduce the money you're spending on interest, because with a lower interest rate, more of the loan payment is applied towards paying the principal.
Consolidating several debts into one loan can help give you an estimated end date as to when that debt will be paid off – which could lead to an improvement in your credit score, with one payment being made on time each month.
Lastly, if you end up with more cash on hand due to a lower monthly loan payment, you might consider applying some of it to further reduce the loan amount.
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Screen Text: Debunking credit score myths
Debunking Big Foot
Debunking goat yoga
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Speaker: Unlike an internet conspiracy theory, credit scores shouldn't be scary.
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Speaker: They indicate how well you manage your credit payments.
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Speaker: Having a good credit repayment history- which means you make at least your minimum payment and always make it on time - can help you achieve a higher credit score.
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Speaker: This in turn can help make it easier to get approved for credit for larger purchases – like your first home – in the future.
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Speaker: Making your payments on time applies to all your personal bills, including your phone bill and other utility bills.
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Speaker: Also, ensure that you only apply for credit products that you need and that you use them responsibly by staying within your credit limit.
Screen Text: Only apply for credit products you need
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Speaker: Finally, remember not to apply for credit multiple times over a short period because this too can negatively impact your credit score!
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Applying too often
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When it comes to borrowing needs – there’s no one size that fits all.
To help you decide which financial lending option might be right for you, keep the following in mind:
Do you have a well-defined borrowing need with a particular end goal – such as buying a car, consolidating debt or another major expense? Then a loan might be a better option. It provides a lump sum of money up front. You can choose a fixed or variable interest rate… and select your payment frequency ranging from weekly to biweekly, semi-monthly or monthly.
If, on the other hand, you need the flexibility to borrow for a variety of needs, without having to reapply every time, then a line of credit may be a better option – as the funds up to your available credit limit are there, whenever you want! And you only pay interest on what you use.
Speak to a TD representative for more information on which solution may be right for your borrowing needs!
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Content in this video is for informational purposes only and may vary based on individual circumstances.
Please speak to a TD banking specialist about your particular needs.
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