Conexus - Overdraft Line of Credit

An Overdraft Line of Credit from Conexus is a smart and flexible financial tool designed to help you avoid the stress of missed payments and costly fees. Unlike traditional loans, this line of credit acts as a safety net for your chequing account, ensuring your payments go through even if you don’t have enough funds. Whether you're covering unexpected expenses or managing gaps in income, the Overdraft Line of Credit provides peace of mind with a predetermined limit and easy repayment options. You’ll only pay interest on the amount you borrow, and repayments are automatically applied when funds are deposited into your account.

Benefits of an Overdraft Line of Credit:

Prevents declined payments, avoiding fees and late charges.
Covers purchases and bills when you don’t have enough money in your account.
Ensures important payments, like rent or bills, go through on time.
Payments are automatically deducted from your account when funds are available.

Reach out to us today to learn how an Overdraft Line of Credit can help you reach your goals.

Start by scheduling an appointment with an advisor. Be sure to bring necessary documents such personal identification, and proof of income.

Your eligibility will depend on factors like your credit score and income. A sufficient stream of income and a good credit history are typically required to qualify.

The minimum credit limit for a Conexus Overdraft Line of Credit is $500, but the exact amount you can be approved for depends on your financial profile and the advisor’s assessment.

Once approved, your funds are automatically available to cover purchases or payments. Repayments are automatically applied when you deposit money into your chequing account, making it easy to manage and use your overdraft line of credit.

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May not be right for you if you:

Frequently rely on the overdraft line of credit without paying it off quickly, the interest charges could add up, potentially leading to higher debt. A budget review with a financial advisor may be a better first step.
If you struggle with budgeting, the availability of extra funds might encourage overspending. A savings account or a set amount in a dedicated emergency fund might be a better fit.
Are looking for long-term financial assistance, an overdraft line of credit may not be the best option due to interest fees. In that case, consider other options like a credit card with a lower interest rate or a line of credit with more flexible terms for larger expenses.

Overdraft Line of Credit

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