The Canadian Imperial Bank of Commerce (CIBC) is one of Canada’s 5 largest banks. The bank is the merger, in 1961, of two Canadian banks, the Canadian Bank of Commerce and the Imperial Bank of Canada, which was considered the largest bank merger in Canadian history.
It is a bank that aims to help customers, employees and shareholders achieve what they want. They are driven by values such as trust, teamwork and responsibility.
The bank offers a lot of services such as personal loans, mortgages, investments, insurance, bank accounts and credit cards. On this article we will know more details about CIBC Personal Loan.
CIBC Personal Loan
The CIBC Personal Loan can be used for a variety of reasons such as debt consolidation, buy a new home or an auto, wedding expenses, travel abroad, vacations and others
You can borrow from $ 3,000 to $ 200,000. The refund can be made per month, per week or every 15 days, for a maximum of 5 years. The amount available and the deadline for payment will be informed according to the credit assessment.
It is important to say that this is a personal loan that is secured against the equity in your home or other assets
Rates – CIBC Personal Loan
The interest rate corresponding to CIBC Personal Loan is fixed and the base rate is 3.95%.
You can choose between variable or fixed interest rates. In the case of the variable, it is possible for the person to benefit in the months when the interest rate is low. To choose, you need to do an individual analysis of the financial situation and what fits best.
No penalties are charged if the person chooses to repay the loan at any time.
The application – CIBC Personal Loan
You can choose to apply online, by phone or at one of the bank’s branches.
The application is simple and fast, without many bureaucracies. During the process, personal information (name, address, age, etc.) and financial information (assets, income and others) will be requested.
Eligibility – CIBC Personal Loan
To become eligible for the CIBC Personal Loan you need some basic requirements.
– Are a Canadian resident who has reached the age of majority (18 years for PEI, QC, ON, MB, SK, AB and 19 years for NL, NB, NS, BC, YK, NT, Nunavut)
– Meet CIBC standard credit lending criteria, and haven’t declared bankruptcy within the last 7 years
– Haven’t been declined for credit within the last 6 months from CIBC
– Earn a minimum of $17,000 annually
Advantages – CIBC Personal Loan
Some advantages of CIBC Personal Loan can be a differential for those who are looking for a personal loan. Let’s see!
– It is a safe and recognized bank
– You can choose between fixed or variable rates
– Flexible Terms (from 7 to 72 months)
– Easy Application, without many bureaucracies
Are you still having doubts?- CIBC Personal Loan
If you still have questions, it is recommended that you visit the site and make simulations using the online calculator that is available.
Useful Information – CIBC Personal Loan
CIBC Personal Loan