Lines of Credit

If you're like most people, there are times when you need a little extra money. Now there's an easy and economical alternative to personal loans and credit cards. With a Line of Credit, you apply only once to arrange a revolving line of credit. It may be secured or unsecured and once it's approved you can use it as often as you like, withdrawing any amount up to your approved credit limit. Interest is charged only on the amount you use. You will receive a comprehensive statement reflecting your account activity and interest rate charges.

A line of credit is a flexible way to borrow. It can also be a great option for home renovations, education, paying off higher interest debt, and much more. 


For students that need access to funds while attending an accredited Canadian university or college this line of credit features a low interest rate specific to you.  You pay interest only on the amount you actually use while you are in school, and the year following your graduation or residency.

Your First Nations Bank branch can set up automatic payments for you.  Deposits made to your Student Line of Credit are considered payments and are applied to the principal.  Access your money from your Student Line of Credit at any First Nations Bank branch, ATMs or anywhere you see the Interac® symbol, using your FNBC Access card. Your student Line of Credit will also be accessible through telephone banking, Online Banking and Mobile Banking.

Repayment Options Upon Graduation:

You can spread your Student Line of Credit payments out (up to 20 years), making your monthly payments more manageable

Pay off all or part of the Student Line of Credit at any time without penalty.

Home Equity

Use the equity you have built up in your home to get flexible, ongoing access to funds at a low interest rate.

  • Only pay interest on the funds you use
  • Flexible repayment options, including the ability to pay as little as interest only monthly
  • Pay at your own pace without prepayment charges


A secured Line of Credit is one that is protected by an asset or collateral of some sort.  A variety of assets can be used as security including:

  • A term deposit
  • Bank account

A secured Line of Credit may take longer to process but may provide you access to a larger amount of funds.

If you have a secured Line of Credit you have a choice on how to set-up your payments. Pay only the interest monthly if you choose.


An unsecured Line of Credit may be faster to process as there is no collateral required, but may have higher interest rates.

If your Line of Credit is unsecured your monthly repayment is 3% of the outstanding balance or $50, whichever is greater.