LOAN AND LINE OF CREDIT CALCULATOR
Find out how much you may qualify to borrow

Learn the benefits of a loan or line of credit and tips on how to budget when you borrow money.

Do you want a loan or line of credit?

Let us walk you through each step in the calculator with helpful tips and definitions.

A CIBC personal loan gives you funds for any purpose. Enjoy fixed payment amounts and flexible repayment options.

Enjoy convenient access to ongoing funds for big purchases or daily spending. With a CIBC personal line of credit, you pay interest only on the money you use.

Step 1 of 4

Why do you need a loan?

Tell us why you want to borrow money and we'll help you find a borrowing option that's right for you.

Reason for borrowing

If you're interested in making a large, one-time purchase with the option of a fixed or variable interest rate, a loan may be the right option for you.
Step 2 of 4

How much do you want to borrow?

To help determine how much you can borrow, lenders look at your credit history, your ability to repay the borrowed funds and whether or not you have collateral.

Amount to borrow in dollars.

Borrowing amount slider. Minimum borrowing amount: $1,000. Maximum borrowing amount: $50,000.

Can you afford to borrow money? Set up a budget and find out if you can make the monthly payments. Don't forget your payments may change when interest rates go up or down.
Step 3 of 4

When can you repay a loan?

Choose a repayment term and payment frequency and we'll calculate your regular payment.

Repayment term

Payment frequency

Payment frequency is how often you make your payments: weekly, biweekly, semi-monthly or monthly. If you choose a more frequent payment schedule, you'll save on interest and pay off your loan faster.

Enjoy flexibility and freedom in your repayment plan. CIBC offers open loans, meaning you can prepay any amount without penalty. You can also pay the loan off in one lump sum or adjust your payment schedule to suit your needs.
Step 4 of 4

Do you want to use your home or other assets as collateral for your loan?

If you use your home or other assets to secure your loan or line of credit, you'll get more credit, likely a lower interest rate and repayment options that work for you.

Interest rate¹ as a percentage Minimum interest rate: 0%. Maximum interest rate: 12%

Displayed rate does not represent the actual rate you may receive. Interest is the money you pay to your lender for borrowing funds. Interest rates on loans are either fixed or variable. Fixed rates stay the same for the entire term of the loan. Variable rates go up and down according to market conditions. Interest rates on lines of credit are variable.

Do you want to secure your lending with collateral?

You use collateral, such as your home or other assets, to secure a loan or line of credit. This tells your lender you'll pay back what you borrow. If you can't repay, the lender may use your collateral to help recover losses.

Yes

No

Get an unsecured personal loan to pay medical bills or consolidate credit card debt. A secured personal loan may be a better fit if you want to buy a vacation property or finance home renovations.

Step 1 of 4

Why do you need a line of credit?

Tell us why you want to borrow money and we'll help you find a borrowing option that's right for you.

Reason for borrowing

If your borrowing needs vary, and you want to make ongoing purchases, a personal line of credit may be the right option for you.
Step 2 of 4

How much do you want to borrow?

To help determine how much you can borrow, lenders look at your credit history, your ability to repay the borrowed funds and whether or not you have collateral.

Amount to borrow in dollars.

Borrowing amount slider. Minimum borrowing amount: $1,000. Maximum borrowing amount: $50,000.

Interest on lines of credit are lower than on most credit cards. But they're also variable, so keep track of them. When interest rates go up, so do your monthly payments.
Step 3 of 4

Do you want to use your home or other assets as collateral for your line of credit?

If you use your home or other assets to secure your loan or line of credit, you'll get more credit, likely a lower interest rate and repayment options that work for you.

Interest rate¹ as a percentage

Displayed rate does not represent the actual rate you may receive. Interest is the money you pay to your lender for borrowing funds. Interest rates on loans are either fixed or variable. Fixed rates stay the same for the entire term of the loan. Variable rates go up and down according to market conditions. Interest rates on lines of credit are variable.

Do you want to secure your lending with collateral?

You use collateral, such as your home or other assets, to secure a loan or line of credit. This tells your lender you'll pay back what you borrow. If you can't repay, the lender may use your collateral to help recover losses.

Yes

No

Get an unsecured line of credit for unforeseen expenses or emergencies. A secured line of credit lets you access low-interest funds to help consolidate and pay down debt.
Step 4 of 4

Do you want creditor insurance coverage to help protect you and your family from the unexpected?

Get financial protection for your CIBC Personal Lines of Credit if you can't work due to a disability or in the case of your death. Learn about creditor insurance for CIBC Personal Lines of Credit.

Do you want creditor insurance coverage to help protect you and your family from the unexpected?
Yes, add creditor insurance

No, don't add creditor insurance

Type of insurance

Creditor insurance on your line of credit can help pay off your debt or reduce your balance in the event of death, or help cover payments in the event of a disability.

Age range

Add creditor insurance to your line of credit to ensure your family has some help making payments during difficult times.

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Your approximate minimum monthly payment will be $ dollars.*

Your approximate interest-only monthly payment will be $ dollars.*.

Your approximate payment will be $ dollars*.

My results Edit borrowing details

Loan and line of credit details

Reason for borrowing

Amount to borrow in dollars.

Borrowing amount slider. Minimum borrowing amount: $1,000. Maximum borrowing amount: $50,000.

$1,000 $50,000

Interest rate¹ as a percentage

Displayed rate does not represent the actual rate you may receive. Interest is the money you pay to your lender for borrowing funds. Interest rates on loans are either fixed or variable. Fixed rates stay the same for the entire term of the loan. Variable rates go up and down according to market conditions. Interest rates on lines of credit are variable.

Use home or other assets as collateral?

You use collateral, such as your home or other assets, to secure a loan or line of credit. This tells your lender you'll pay back what you borrow. If you can't repay, the lender may use your collateral to help recover losses.

Use home or other assets as collateral?

Yes

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Loan
Line of credit

Repaying your loan

Repayment term

The repayment term is the time it takes to pay back the money you borrow.

Payment frequency

Payment frequency is how often you make your payments: weekly, biweekly, semi-monthly or monthly. If you choose a more frequent payment schedule, you'll save on interest and pay off your loan faster.

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Provide your information and we'll calculate how much you can borrow with a loan or line of credit.

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Your approximate payment will be

$ dollars. ^* .

You'll pay $ in interest after years .

Term interest is the total interest you pay during the time you have the loan.

Edit calculations.

Creditor insurance (optional)**

Creditor insurance on your line of credit can help pay off your debt or reduce your balance in the event of death, or help cover payments in the event of a disability.

Add insurance

Remove insurance

Type of insurance

Age range

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Provide your information and we'll calculate how much you can borrow with a loan or line of credit.

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Your approximate minimum monthly payment will be

$ dollars. ^* .

The minimum payment on most lines of credit is 2% of the balance or $50, whichever amount is greater.

Your approximate interest-only monthly payment will be

$ dollars. ^* .

With an interest-only payment, none of the payment amount goes toward the original amount borrowed.

Creditor insurance payments

Life Insurance for CIBC Personal Lines of Credit	dollars.
Disability Insurance for CIBC Personal Lines of Credit	dollars.
Total monthly creditor insurance payments	dollars.

Edit calculations.

Explore your borrowing options

CIBC Personal Car Loan

With up to 8 years to pay off the loan and the possibility of no down payment, this loan makes it easy to purchase a new or used vehicle.

Apply now Learn more

CIBC Personal Loan

Choose the term of your loan, the frequency of your payments and whether you’d prefer a fixed or variable interest rate.

Apply now Learn more

CIBC Personal Loan (secured)

Get a lower interest rate that’s secured by your home or other assets. Plus, get a higher credit limit for major purchases like renovations or a vacation property.

Apply now Learn more

CIBC RRSP Maximizer Loan

Meet your investment goals by taking advantage of your unused RRSP contributions of $1,000 to $50,000.

Request a call Learn more

CIBC Education Line of Credit

Get help with your post-secondary education costs with a line of credit of $60,000.

Apply now Learn more

CIBC Home Power Plan Line of Credit

Get convenient access to cash and pay interest only on the funds you use.

Meet with us Learn more

CIBC Personal Line of Credit

Get flexible access to funds for everyday expenses or big-ticket items, at interest rates lower than most credit cards.

Apply now Learn more

¹ Displayed rate does not represent the actual rate you may receive.

* The calculation is based on the information you provide and is for illustrative and general information purposes only and should not be relied upon as specific financial or other advice. Actual results and loan or line of credit payment amounts and repayment schedules may vary. Calculator assumes a constant rate of interest.

** Creditor Insurance for CIBC Personal Lines of Credit, underwritten by The Canada Life Assurance Company (Canada Life) , can help pay off or reduce your balance in the event of death or cover payments in the event of a disability. Choose insurance that meets your needs for your CIBC Personal Lines of Credit to help financially protect against disability or death.

Learn more about loans and lines of credit

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Comparing personal loans and lines of credit

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LOAN AND LINE OF CREDIT CALCULATOR Find out how much you may qualify to borrow

Do you want a loan or line of credit?

Why do you need a loan?

How much do you want to borrow?

When can you repay a loan?

Do you want to use your home or other assets as collateral for your loan?

Why do you need a line of credit?

How much do you want to borrow?

Do you want to use your home or other assets as collateral for your line of credit?

Do you want creditor insurance coverage to help protect you and your family from the unexpected?

Loan and line of credit details

Loan

Line of credit

Repaying your loan

My results

Explore your borrowing options

Learn more about loans and lines of credit

Get started

LOAN AND LINE OF CREDIT CALCULATOR
Find out how much you may qualify to borrow