Home Improvement Line of Credit
The Home Improvement Line of Credit is the ideal solution for financing renovations of $5,000 or more, worry free!
- Postpone paying back the principal used, interest and insurance premiums on your Home Improvement Line of Credit for up to one year1. During that period, interest will only be charged on the credit used for your renovations.
- Benefit from an attractive rate, which simplifies planning.
- Access your funds at any time, by cheque, at the branch or ABM, via Client Card purchase or Electronic Banking Solutions2. The choice is yours!
- Add life, disability and critical illness loan insurance at any time.
Flexibility and Peace of Mind
With the Home Improvement Line of Credit, you can postpone paying back the principal used, the interest and insurance premiums for up to one year1. During that period, interest will only be charged on the credit used. With your financing worries out of the way, you'll be able give all your attention to planning your home improvements and carrying out the renovations. When the year is up, you'll have three options: pay the outstanding balance on your line of credit, renegotiate your mortgage loan to include this balance, or consider choosing another type of financing.
Repair the roof, redo the kitchen or add a bathroom... Don’t hesitate!
1 Certain conditions apply. The Bank reserves the right to determine what can be financed under a Home Improvement Line of Credit.
2 Only certain browser versions can be used to access National Bank Internet Banking Solutions. Consult nbc.ca/browser.
LogiRénov Home Renovation Tax Credit
Did you know? The Quebec government recently introduced a temporary tax credit to encourage households to renovate their residence, expand it, adapt it to the special needs of a family member or convert it into an intergenerational home.
If your renovations are done by a qualified contractor, under a contract entered into after April 24, 2014 and before July 1, 2015, you could qualify for the LogiRénov tax credit!