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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