CIBC HELOC Consumer Reviews

I have had 3 different home equity line of credit (HELOC) products from CIBC over the past 20yrs. Their product is simple, straight-forward, with no fees for day-to-day banking. Cheque books are free to order, and cheques, withdrawals, deposits have no service charges of any type. Even money order fees have been waived often based on my long term relationship with the bank. Interest rates on HELOC are competitive with the best fixed rate mortgages -- and often the same or cheaper with a little bit of negotiation when setting up a HELOC. Overall, I have been very satisfied with CIBC's HELOC offering as a flexible and cost competitive alternative to regular mortgages.

I was given a detailed explanation of all the choices I could make and the representative helped me in analyzing my financial situation so I make the right choice. Monthly statement shows clearly about every detail of the mortgage interest payment and status.