motusbank

motusbank is a full-service digital bank that provides home equity line of credit, mortgages, savings & chequing accounts, and investment products. motusbank is the digital arm of the Meridian Credit Union. With a digital bank you can open accounts, apply for anything and get approved, all online.

motusbank offers a home equity line of credit, mortgages, chequing accounts, savings accounts, investment products like GIC's, ATM services and mortgages.

The home equity line of credit has a starting interest rate of 2.75%.

To qualify for a motusbank home equity line of credit, you'll have to be a homeowner, be over 18 years of age, provide government identification, property assessment and complete an online application.

It generally takes a few days to get approved for a home equity line of credit from motusbank, as long as all of the required documentation is submitted.

You can make payments towards your line of credit anytime. Once you pay off a portion of your line of credit with interest, the credit becomes available to you again.

motusbank has phone and email support, as well as a blog on their site.

Yes, motusbank is safe. The digital bank is owned by Meridian Credit Union, which has been in existence for the past 75 years.

Depending on the product you are applying for with motusbank you can borrow anywhere from a few thousand dollars on a home equity line of credit to a few million dollars for a mortgage.

The is no fixed term for a home equity line of credit. motusbank will only require you to pay interest on the money you use.

You can do all of your banking with motusbank entirely online.

Once approved you'll be able to access your home equity line of credit.

motusbank services customers in all of Canada except for the province of Quebec.

motusbank is available online always. They provide phone & email support from Monday to Sunday, 8AM to 12AM (EST).