If you're looking for a loan that is going to give you the freedom to do what you want, the CIBC Online Personal Loan might be for you. You can utilize the loan for whatever you need, including investments. Some loans penalize you for paying back early, but the CIBC Online Personal Loan is free from those hassles.
When you are looking for a personal loan take your time, there are so many options out there and if you are diligent, you will find the right one. Consider what things are important for you, like repayment term length, interest rates, early payment and more. Once you have a clear picture of what you need from your loan, chances are you will have a much easier time filtering through your options and finding the best one.
Our editors have researched the CIBC Online Personal Loan for you and come up with some need-to-know information. This loan provides the ability to choose between a flexible and fixed interest rate for one. Read on below to find out details about this loan so you can make an informed decision about whether or not it fits you and your lifestyle. If it doesn't, there are hundreds of other options to explore.
What are the Features of the CIBC Online Personal Loan?
CIBC highlights freedom with their loans. As a customer, you can request for a specific term of 12 to 60 months of repayment and decide whether the fixed or variable interest scheme works for you. In this article, we’re going to look into the perks and advantages of the CIBC Online Personal Loan.
One of the reasons to apply for this loan is the hassle-free and uncomplicated process. Once your loan application is approved, you can get the money instantly and use it for personal expenses. Absolutely no hidden or additional fees involved!
Some lenders may not allow you to use a personal loan to make an investment. But with the CIBC Online Personal Loan, you surely can! You can even consolidate your higher interest debt to prevent accumulating interest over time! This type of loan is truly super value and helpful in times of trouble.
In case you want to make early payments, expect no penalties and extra charges. CIBC allows more frequent payments for customers to settle their balances right ahead and on schedule. It also gives you the right to pay off all or part of the loan any time you wish to.
What are the Fees of the CIBC Online Personal Loan?
To get a sample quote of your interest, you can use the Loan Calculator found on the CIBC website. For more accurate figures, you can also call the customer service hotline at CIBC (contact info below).
Overall, the CIBC Online Personal Loan is a great choice if you need flexible financial assistance and at the same time, customize the repayment term.
How to Apply for the CIBC Online Personal Loan
There’s no need to visit the nearest CIBC branch or office just to apply for a CIBC Online Personal Loan. Now, you can do it even at home, using the online application. Simply visit the CIBC website and click on the Apply Now. You will be redirected to the online form that you need to fill up.
To ensure the success of your application, you need to comply with the requirements set by CIBC. First, you need to be at least 19 years old, a Canadian resident and must be employed with a minimum annual income of $17,000. You also need to meet the standard lending criteria to be approved.
For the loan amount, you can borrow a minimum $3,000 up to $200,000, depending on your credit criteria and ability to pay back the loan.
How to Contact
56 Commerce Court West
Toronto, ON. M5L 1A2
Note: There are risks involved when applying for and using a credit card. Consult the bank’s terms and conditions page for more information.