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How is interest calculated on my line of credit?

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You're charged interest from the day you withdraw money, until you pay it back in full. Interest is calculated daily and payable monthly. There's no interest-free grace period.  

"SIMPLII FINANCIAL" and the SIMPLII FINANCIAL DESIGNS are trademarks of CIBC. "Simplii Financial" is a division of CIBC. Banking services are not available in Quebec.
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