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Semi-Revolving Instalment Loan
Draw extra funds, up to your approved credit limit, at any time – usually without having to complete another loan application. This type of loan is ideal if you don't need to access your full loan credit limit at one time.
Features
- Loan amounts from $5,000 to $15,000.
- Additional funds are advanced, whenever required, up
to your approved credit limit.
- Repayment period of one to five years.
- Choose from a fixed or variable interest rate.
- A fixed monthly repayment schedule.
- Make your monthly payments by pre-authorized debit direct from your account, using an ABM, through the mail, or at any BMO Bank of Montreal branch.
- Skip up to one month's payment twice a year. Some
conditions apply.
- Make a full or partial pre-payment at any time
without penalty.
- Itemized monthly statements.
- Optional creditor life and disability insurance.
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