New to Canada Line of Credit
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Build credit in Canada
You never know when you might need funds unexpectedly. With the New to Canada Line of Credit, permanent residents can access up to $10,000*.
Low interest borrowing
With a line of credit you only pay interest on the money you spend, ensuring you have the funds when you need them with no unnecessary interest.
No credit history required1
Designed for newcomers, this credit line helps you build a Canadian credit score, without needing credit history1.Apply now and start building your financial future.
24/7 access and automatic savings
Access your funds anytime with mobile, online, or ABM. When you deposit money into your account, your balance is automatically paid down, helping you minimize interest costs.
Key Product Details
| Interest Rate | Variable interest rate without Life and Disability insurance is Prime + 7% on approved credit. |
| Loan Protection | Life and/or Disability insurance is available which will reduce the variable interest rate on approved credit to Prime + 6%. |
| Fees | No setup or annual service fees. |
| Amount | Borrow up to $10,000*. |
| Repayment | Repayment is flexible. Choose to make only the required minimum monthly interest payment on the outstanding balance, or pay up to the entire balance. |
| Eligibility | Must be a Permanent Resident in Canada under 5 years with proof of income. No credit history required1. |
Start the application process today
Use our appointment booking tool to set up a meeting with an everyday banking advisor. You can pick the time and location that works best for you.
Frequently Asked Questions
The maximum limit for the New to Canada Line of Creditis $10,000*. For credit amounts exceeding $10,000, please use our appointment booking tool to set up a meeting with an everyday banking advisor. They can provide additional options based on your specific financial situation.
The New to Canada Line of Credit is designed for permanent residents who need to establish Canadian credit. To identify the right solution, please use our appointment booking tool to set up a meeting with an everyday banking advisor. They can provide additional options based on your specific financial situation.
You are eligible for ATB’s New to Canada Banking Solutions if you are a permanent resident, international student, temporary foreign worker or refugee that lives in Alberta and have landed in Canada five years ago or less (with proof of status).
To apply for the New to Canada Line of Credit, please book an appointment using our appointment booking tool. An ATB everyday banking advisor will support you with the application process.
For your meeting, we ask that you please bring one of the following documents:
- A valid passport (any country)
- Canadian driver’s license
- Canadian government ID card
- Permanent Resident Card
To prove Alberta residency, please also bring one of the following documents:
- SIN Letter from Service Canada with your Alberta address dated within the last two years
- Alberta Health Care Insurance Plan card
- Form IMM1442/IMM1000—Study permit, work permit, temporary resident permit with your Alberta address
- Letter from post secondary school with your Alberta address dated within last two years
- One electronic or paper utility bill that has your name and Alberta address listed
- Dated lease agreement
- Alberta Driver’s License
Note: Other identification documents may be accepted or required. Please contact us for more details.
Learn more about Canadian credit
What to know about credit if you’re new to Canada
Understand the basics of credit in Canada, including how to get a credit score and what it does.
Banking terms newcomers need to know
Use this guide to common banking terms so you feel confident banking in Canada.
How to build your credit score as a newcomer to Canada
Take the confusion out of building a strong credit score with this helpful article.
Subject to credit approval. To qualify, you must be a resident of Alberta (proof of residency required) and 18+. Your approval and the credit limit will be determined on ATB’s credit criteria, including income and credit history (if available).
*On approved credit. Terms and conditions apply.The information and/or offers contained herein is subject to change or be withdrawn at any time without notice.
Related documents: ATB Financial Personal Line of Credit Terms and Conditions (PDF)
Interest rates are subject to change at any time without advance notice.