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Is there a limit on how much I can pay back on my line of credit?

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You decide how much you’d like to pay back each month. With a personal line of credit, repay as little as $50 or 2% of your balance, whichever is greater. For a secured line of credit, you can make interest-only payments each month. There's no prepayment charge for paying any amount above the minimum.

† Simplii Financial personal banking services are provided by the direct banking division of CIBC. Banking services not available in Quebec.
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