Looking for a loan with flexible terms and a fixed interest rate? These and a lot more is offered by CIBC when it comes to their CIBC Online Personal Loan. You can borrow money for personal reasons like getting married, going on vacation or simply for home improvement. Moreover, monthly payments are specific and consistent each month, so it will be easier to budget your money.
Read on to know the requirements needed to apply for this loan and find out about the fees and charges.
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.
CIBC Online Personal Loan Application
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.
Fees and Charges of the CIBC Online Personal Loan
To get a sample quote of your interest, you can use the Loan Calculator found at the website. For more accurate figures, you can also call the customer service hotline of CIBC.
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.