Equitable Bank CSV Line of Credit Suite

If you’re looking for quick access to tax-free cash1 to meet your goals, we offer two line of credit options to leverage your whole life insurance policy.

The Equitable Bank CSV FLEX Line of Credit offers access to tax-free cash1 while your policy continues to grow, and payments are not required.2 This option allows you to access up to a maximum of 90% of the cash surrender value of your policy (evaluated on a case-by-case basis) and is available to Canadian residents 50 years of age or older who have a whole life policy with one of Equitable Bank’s insurance partners.3

Use the Equitable Bank CSV FLEX Line of Credit Qualification Calculator to see how much you may be eligible for.

The Equitable Bank CSV MAX Line of Credit offers access to tax-free cash1 while allowing the policy to continue to grow. Borrowers are eligible for credit limits totalling 90% of the cash surrender value of the policy, provided that monthly interest payments are made.2 Canadian residents that are age of majority and hold a whole life policy with one of Equitable Bank’s insurance partners are eligible to apply for this option.

Contact your financial advisor to see how you can do more with what you’ve built today.

Equitable Bank CSV Line of Credit Suite

Advance your next financial move with the Equitable Bank CSV Line of Credit Suite

Equitable Bank CSV FLEX Line of Credit

  • Tax-free funds

    Take your wealth management plans to a new level by getting access to cash that’s tax-free.1

  • No payments required

    Payments are not required as long as your line of credit remains in good standing.2

  • Access up to 90% of the CSV value of your policy

    You may be eligible to access up to a maximum of 90% of the cash surrender value of your policy.3

  • Continued growth

    Borrowing from your policy’s available CSV allows you to keep your policy intact. You get access to cash without interrupting the growth of your policy.

  • Flexible options

    With multiple advance options to obtain funds, you get what you want when you need it. Scheduled, ad-hoc or all at once – you decide what works best for you.

  • Trusted partners

    We understand the value of expertise. That’s why we’ve partnered with well-known Canadian insurers.

Equitable Bank CSV MAX Line of Credit

  • Tax-free funds

    Take your wealth management plans to a new level by getting access to cash that’s tax-free.1

  • Access 90% of the CSV value of your policy

    You may be eligible to access 90% of the cash surrender value of your policy.4

  • No age restriction

    Canadian residents that are the age of majority are eligible to apply for this option.

  • Continued growth

    Borrowing from your policy’s available CSV allows you to keep your policy intact. You get access to cash without interrupting the growth of your policy.

  • Flexible options

    With multiple advance options to obtain funds, you get what you want when you need it. Scheduled, ad-hoc or all at once – you decide what works best for you.

  • Trusted partners

    We understand the value of expertise. That’s why we’ve partnered with well-known Canadian insurers.

Pursue more of life’s opportunities with the Equitable Bank CSV Line of Credit Suite

  • Dream bigger: From dream homes to dream vacations, enjoy the lifestyle you want with greater financial flexibility. Having quick access to extra cash means you can enjoy more of what life has to offer.
  • Supporting your family: Give more to those you love. Fund your children’s tuition costs, contribute to their wedding day or help them move into their first home with money that’s tax free.1
  • Expand your portfolio: Add to your investments by securing credit to fund a real estate opportunity, business venture or to diversify your market holdings with financing when you need it.
  • Plan for retirement: Further develop your retirement strategy by supplementing your income. Leveraging your policy as a flexible financial planning tool can help you achieve your goals more easily (and with the Equitable Bank CSV FLEX Line of Credit option, you won’t have to make monthly interest payments).
  • Grow your business: Have a corporation or small business? Obtain capital to increase opportunities for growth, with the Equitable Bank CSV FLEX Line of Credit option of no ongoing payments. Take your operations to new heights to fund business continuation with a smarter financing option.
  • Emergency fund: By leveraging credit that’s readily available, you can handle unanticipated expenses as they come up and retain your peace of mind.

You may be eligible for an Equitable Bank CSV FLEX Line of Credit if you:

  • Are 50 years of age or over and a resident of Canada
  • Have a whole life insurance policy with one of Equitable Bank’s insurance partners
  • Have adequate cash surrender value available in your policy

You may be eligible for an Equitable Bank CSV MAX Line of Credit if you:

  • Are the age of majority and a resident of Canada
  • Have a whole life insurance policy with one of Equitable Bank’s insurance partners
  • Have adequate cash surrender value available in your policy
  • Meet financial qualifications to ensure interest payments can be made

Repayment and interest

Equitable Bank CSV FLEX Line of Credit

Payments are not required if your line of credit remains in good standing.1 Interest is capitalized meaning it’s added to your outstanding balance and accrues until funds are repaid. Generally, when your death benefit is paid, your beneficiary will receive the amount minus your outstanding balance.

Equitable Bank CSV MAX Line of Credit

Monthly interest payments are required. Generally, when your death benefit is paid, your beneficiary will receive the amount minus your outstanding balance.

Application Process

  1. 1

    Meet with your financial advisor or an accredited insurance broker

    They’ll work with you to determine which Equitable Bank CSV Line of Credit option may be best suited for your needs, and will help you prepare a few documents we’ll need.

  2. 2

    We’ll review your eligibility to determine if you qualify

    By working with your financial advisor or insurance broker, we’ll determine how much you can qualify for.

  3. 3

    Getting your Equitable Bank CSV FLEX Line of Credit or Equitable Bank CSV MAX Line of Credit approved

    If conditionally approved, we’ll notify you of any additional requirements and confirm your credit limit so you can access your funds.

Equitable Bank Cash Surrender Value (CSV) Line of Credit Rates
Type Rate
CSV Prime Rate (P) 3.95%*
Equitable Bank CSV Line of Credit Rate (P) + 1.25%
*The CSV Prime Rate is the annual rate of interest established from time to time by Equitable Bank as the reference rate for determining interest rates on Equitable Bank CSV Lines of Credit. Rates are subject to change at any time without notice. Interest is calculated daily and charged monthly.
  1. Consult your financial advisor to discuss your unique tax situation and the tax-free benefits of an Equitable Bank CSV Line of Credit.
  2. The Equitable Bank CSV Line of Credit Suite is a demand credit facility, meaning Equitable Bank can demand payment of all or part of the outstanding balance at any time. The outstanding balance of your loan must remain below 95% of the cash surrender value of your policy.
  3. The amount of capital made available depends on the projected growth of the policy and the age of the borrower.
  4. Credit limits are subject to deductions based on required premium payments.