Personal Loans

Looking to purchase a new car, install energy efficient upgrades, take a well-deserved vacation, renovate your home or make other major purchases? At Alterna, we want to help you borrow the money you need, and we’re dedicated to making sure the loan or line of credit you choose is just right for you. Quite simply, we can help you borrow what you need on terms that are affordable, flexible and convenient for you.

Features and Benefits:

Competitive fixed rates
Flexible payment options (weekly, biweekly, semi-monthly or monthly)
Flexible terms (1 to 5 years in length)
Conveniently make payments in-branch or through direct deposit, automatic funds transfer, telephone banking, or online banking
Affordable creditor insurance is available with a simple application process

Investment Loans

Sometimes it pays to borrow to invest. Maybe you haven’t enough funds on hand to contribute the maximum to your RRSP. With an Alterna investment loan you can take advantage of the tax benefits today as you build your savings for retirement. The amount you save on taxes could be more than the interest you’ll pay on the loan. Contact us today and we'll be happy to help you choose the option that works best for you.

Features and Benefits:

Maximize your RRSP contributions or catch up on RRSP contributions not made in previous years
Take advantage of tax benefits now while savings for your retirement
Benefit from long-term compounding tax-sheltered returns
The security of a fixed term

RRSP Loan Details
Credit limit	$5,000 to $100,000
Term	1 to 5 years
Amortization	Up to 5 years
Pricing	Fixed rate
Creditor insurance	Eligible
Pre-payment	Fully open

RRSP Loan Example
Loan	$3,500
Term	1 year
Rate	6%
Marginal tax rate	-30%
Monthly payment	$302.00
Cost of borrowing	$114.79
Tax refund	-$1,050

Outdoor Adventure Loan

Looking to buy a recreational vehicle (RV)? Alterna offers convenient and flexible financing solutions to help get you on the road. Whether you want to explore the land or fund the purchase of a motor home, an Outdoor Adventure loan can provide you with the funds you need.

Features and Benefits:

Competitive ﬁxed rates
Flexible payment options (weekly, biweekly, semi-monthly or monthly)
Conveniently make payments in-branch or through direct deposit, automatic funds transfer, telephone banking, or online banking
Terms of up to 15 years

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Creditor Insurance
Protect your loved ones and gain peace of mind. Our payment protection† benefit ensures your financial obligations will be met if you experience disability, critical illness or job loss, or in the event of your death.

Creditor insurance is available for the following products in the event of death, disability, and critical illness:

Mortgages
Personal loans
Lines of Credit

Furthermore, creditor insurance is also available for the following products in the event of job loss:

Mortgages

Legal

†Payment Protection Legal Disclaimer:
Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.

RRSP Loan Details

Regular RRSP/Investment loan

Credit limit

Term

Amortization

Pricing

Creditor insurance

Pre-payment

RRSP Loan Example

Loan

Term

Rate

Marginal tax rate

Monthly payment

Cost of borrowing

Tax refund

Personal Loans with

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