Do you want to spruce up your home or carry out major repairs? No matter how big or small your renovation project, National Bank can help you by providing financing solutions geared to your renovation needs.
Our solutions for your renovations The following tables will help you learn more about our financing solutions1 :
Major renovations
National Bank All-In-One BankingTM1
Mortgage Loan
Advantages
You can access the funds you need to pay for renovations at any time via2 :
Flexible repayment options.
Obtain a single amount that can be used to finance all your renovation work.
Finance your renovations with your mortgage loan under separate repayment terms.
Repayment
Repay at your own pace: only interest and insurance premiums (if applicable) are payable each month.
Fixed payments are automatically debited from your account on a set date (weekly, bi-weekly or monthly).
You can select your repayment period based on your budget and cash inflows.
Loan amount
You can borrow up to 80% of the value of your property (minimum $25,000).
You can borrow up to 90% of the value of your property4 (minimum $5,000).
Eligibility
You must be the owner of the house.
You must have at least $25,000 in assets or 20% equity in your home.
You must have at least 10% equity in your home.
Top
Small or medium renovations
Home Improvement Line of Credit
Personal Flex Line
Personal Loan
You can access the funds needed to pay for renovations at any time via2:
You have the option of deferring payments for up to one year.
However, the interest will continue to accrue.
You can borrow a minimum of $5,000.
Based on your:
Looking to borrow less than $5,000?
If you don’t plan on spending more than $5,000 on renovations, our MasterCard credit card solutions can help you carry out your projects. Various types of cards are available.
Insure your future
For just a few extra dollars every month, you’ll have peace of mind knowing that your loan will be repaid in the event of death, critical illness or disability5. For more information, see our Loan Insurance section.
1 These solutions are subject to credit approval by National Bank. 2 Subject to fund availability and applicable fees. 3 Certain versions of browsers are required to access National Bank’s Internet Banking Services. Please see the section “Browser Requirements for Internet Financial Services” in the ABCs of Security at www.nbc.ca. 4 If the loan exceeds 80% of the value of the home, it must be insured by the Canadian Mortgage and Housing Corporation or Genworth. If the loan exceeds 65% of the value of the home, it must be insured by Genworth. 5 Various types of coverage are offered depending on the type of loan chosen. Certain conditions apply, including requirements for loan insurance eligibility. TMNational Bank All-In-One is a trademark of National Bank of Canada. Interac® is a registered trademark of Interac Inc.
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