Lines of Credit & Personal Loans

Personal Loans

Tandia aims to be the lender of choice among our members, offering attractive rates and convenient payment methods.

Features

Competitive rates.	Flexible repayment options.
All loans open to early repayment with no penalty.	Life and disability insurance available and recommended.
Payment relief can be arranged during layoffs, strikes and leaves of absence (including parental).'	Special purpose' loans at great rates to meet your specific needs (i.e. computer, RRSP, education).
Interest rates on our personal loans are annual rates and are calculated on the declining loan balance.

Car Loans

RRSP Loans

A car loan from Tandia keeps you in the driver’s seat.

Let’s face it – whether you lease or borrow-to-own a car, it’s an expensive undertaking, plain and simple. It’s not unusual to see a price-tag on a new car that’s as much as the cost of an average house only a generation ago. The low monthly payments advertised with car leases can be appealing, but there’s more to leasing a car than the payments. Anyone who is in the market for a new set of wheels should consider both the pro’s and con’s of leasing before ruling out borrowing-to-own.

Advantages of borrowing-to-own

Our loan payments can be as low as lease payments.
Payments will be based on the purchase price of the car including taxes (for qualified applicants).
Competitive rates.
You own the vehicle.
You can sell the vehicle at any time with no interest penalty for paying off the loan.
You can modify the car any way you choose (paint or after-market options).
There’s no mileage restrictions or worry about excess wear-and-tear.
You can be car-payment-free some day and have some equity to show.
For additional peace of mind, we offer affordable creditor life and disability insurance to protect your family from financial risk.
You have control and stay in the driver’s seat.

A good reason to borrow

Just because you're short on cash right now doesn't mean you have to forfeit a financially healthy retirement. Contributing to your RRSP on a regular basis will help build a significant nest egg over time. Our RRSP loan offers one of the best rates available, and your first payment can be deferred until May, typically when you receive your income tax refund and can use it to pay down your loan.

Borrow up to $5,000
Repay over 2 years
First payment can be deferred until May
Lots of RRSP contribution room? Ask about a "Catch Up" RRSP Loan.
Want to 'top-up' your RRSP contribution? Use an RRSP loan to increase your annual contribution by 40% or more and pay back your loan with your tax refund.
Don't want to fill out an application every year? Contact us about our new RRSP Line-of-Credit.

AdvantageLine

MeritLine

StudentLine

AdvantageLine Line of Credit

A pre-approved line of credit means you may never have to apply for credit again. You can continuously borrow and repay up to your pre-determined limit. The companion AdvantageLine Account is your key to convenient access.

Features

Variable interest rate that adjusts with Tandia's PrimeLimits from $5,000 to $100,000
An attractive rate with further reduction if secured by home equity
Accessible anytime through online banking or at any Tandia ATM
Flexible repayment optionsMonthly premium life, disability, loss of income and critical illness insurances are available

Interest is calculated daily on the outstanding principal and compounds monthly.

MeritLine home equity Line of Credit

Using the equity in your home to secure this pre-approved line of credit (minimum $50,000) guarantees you one of the lowest rates available for credit. A companion MeritLine Account is your key to convenient access.

Features

Line of Credit secured by equity in your homeMinimum $50,000
Payments as low as 'interest only'
Open to prepayment at any time without penalty
Accessible anytime through online banking, Tandia ATMs and in-branch
Lock-in features are availableLife, disability, loss of income and critical illness insurances are available

Learn More →

Interest is calculated daily on the outstanding principal and compounds monthly.

StudentLine Line of Credit

A StudentLine Line of Credit is a flexible and convenient line of credit (and a one-time application) that allows the student to draw on funds as needed, up to a pre-determined limit, to help finance the cost of post-secondary education. It comes with a companion StudentLine Account which is your key to access.

Features

One-time application for financing post-secondary education
A very competitive rate
Low payments of interest only are all that’s required while in school (up to 5 years)
Liberal repayment terms (over 10 years) upon graduation
More structured Student Loans are also available if preferred
Subject to credit approval with appropriate parental guarantee(s).
Students must be 18 years of age to apply (for students under the age of 18, parents must apply on their behalf)

Interest is calculated daily on the outstanding principal and compounds monthly.