Line of Credit Loan

A Line of Credit is a fixed limit loan which can be generic online redrawn at any time. This loan can be used for any purpose and is accessed at your discretion. These loans are often used for their convenience, with the borrower always having access to funds (provided the loan is not drawn to its limit).

Generally speaking, these types of loans will be slightly more expensive to operate, with a higher interest rate and possibly a limit fee also.