INCREASE CASH FLOW BY $350/MONTH & SAVE UP TO $120 IN MONTHLY INTEREST!
YOUR CURRENT SITUATION |
SAVINGS |
|
| Savings Account: $3,000 + Chequing Account: $2,000 = $5,000
DEBT
| Source |
Amount |
Rate |
Monthly Interest |
Monthly Payment |
| Car Loan* |
$15,000 |
6% |
$75.00 |
$290.00 |
| Credit Card** |
$5,000 |
18% |
$75.00 |
$150.00 |
| Dept. Store Credit** |
$3,000 |
29% |
$72.50 |
$90.00 |
| TOTAL |
$23,000.00 |
|
$222.50 |
$530.00 |
|
MONTHLY CASH FLOW
+ $2,500
net income
|
- $530
debt payments
|
= $1,970
cash flow
|
|
*based on 5 year term
**based on 3% minimum payment on outstanding balance
monthly payment calculated by multiplying outstanding loan amount by minimum payment interest rate. |
NEW CFF BANK EASYONE ACCOUNT |
SAVINGS |
|
| All deposits into the account go toward the outstanding balance and interest is paid on positive account balances!
DEBT
|
| Source |
Unsecured
Line of Credit |
Rate |
Monthly Interest |
Monthly Payment |
| EasyOne Account |
$18,000 |
Prime +4% |
$105.00 |
$180.00 |
| TOTAL |
$18,000.00 |
|
$105.00 |
$180.00 |
MONTHLY CASH FLOW
+ $2,500
net income
|
- $180
debt payments
|
= $2,320
cash flow
|
Moving a fixed term car loan to the CFF Bank EASYONE Account means the payment is now based on outstanding balance not original amount borrowed so the payment will decrease over time. |
|
ABOUT CFF BANK EASYONE ACCOUNT
QUALIFYING DETAILS
The CFF Bank EASYONE Account offers credit limits of up to $25,000. Interest is calculated on the average daily balance and charged monthly. A minimum monthly payment of the greater of 1% of the outstanding balance or $50.00 is required.
ACCOUNT DETAILS
Credit Limit - Up to $25,000 on approved credit
Borrowing Rate -
As low as CFF Prime + 4%
Minimum Payment - Greater of 1% of the outstanding balance or $50/month
ABOUT CFF BANK
CFF Bank is a 100% Canadian owned Schedule I Bank and is a member of the Canada Deposit Insurance
Corporation (CDIC). Building on its strengths in mortgages, CFF Bank offers personal banking products while delivering superb service and solutions through top financial professionals in local communities.
ABOUT CDIC
CFF Bank is a member of CDIC (Canada Deposit Insurance Corporation). Eligible deposits are insured to $100,000 (principal and accrued interest combined). Further information can be obtained through the CDIC website at www.cdic.ca. |
