Personal Loan: Provides you with a fixed amount of money upfront. You select your repayment schedule and pay off the principal amount plus interest over an agreed-upon period of time.
Personal Line of Credit: Provides access to money up to a set credit limit that you can use and once you pay any of the credit you've used, it's available again without the need to re-apply. You pay interest only on the amount you use. There is a monthly minimum payment required.
Variable Interest Rate: With a variable interest rate, your rate changes whenever the TD Prime Rate changes.
If interest rates decrease, your payment stays the same and more of your regular payment goes towards your principal so you may pay off your loan faster.
If interest rates increase, we may increase the payment amount.
Fixed Interest Rate: With a fixed interest rate, your rate and payment stay the same. Since the rate is not variable, changes to the TD Prime Rate will not affect your rate.
- Borrow what you need now, for what you want
- Get the amount you need for renovation, unexpected expenses, investments and more
- Work with us to create a payment schedule that fits your budget
- Apply for credit at a competitive rate.
- Apply once for a credit limit that you can use and re-use
- Enjoy convenient access to your credit with your TD Access Card2, cheques and EasyWeb
You may also be interested in:
If you haven't already decided, this video might help you choose the option that's right for you.
Protect your Line of Credit with Critical Illness and Life Insurance.
Flexible protection for your Loan with Life and Disability Insurance.
We can help you establish and maintain your credit rating.
1The Annual Percentage Rate (APR) is the same as the interest rate because there are no additional fees or charges.
2Available 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.