My tools • July 17, 2024
Save on interest with flexible payment plans
Discover flexible credit card payment options with lower interest rates
Your summer projects, your payment terms.
Backyard season is finally here. Sunny days, BBQs with friends, long summer nights—your backyard is the place to be. But is your deck looking a little worse for wear? Or maybe your patio furniture has seen better days. Projects can add up and you don’t want to spend sunny days worrying about how you’re going to pay for them.
Personalize your payment plan.
Your credit card can help take away the sting by giving you control over how you pay for those projects. Flexible payment options, like instalment plans, allow let you to make your projects a reality while enjoying the peace of mind of staying within budget with manageable payment options.
For example, with all Laurentian Bank credit cards, eligible cardholders1 can set up smaller monthly payments on purchases of $100 or more at a lower interest rate. That’s significant savings, compared to credit cards or department store cards, interest rates which can be up to 20.99% or 28.99% respectively. Plus, it ensures you pay the purchase off in a timely manner. With 3-, 6-, 12-, or 24-month plans to choose from, you have lots of options for paying off your major purchases. That’s a win-win!
Here’s how it works:
If you reside in Quebec:
If you enrol an eligible purchase of $1,000 CAD into an instalment plan for a payment period of 3 months, your interest rate will be 5.99%.2 So, after instalment setup, you’ll repay $335.55 monthly, which includes approximately $10.00 of interest.
Your Instalment Plan Details
Estimated Monthly payment
(including interest):
$336.67
Estimated Total Amount3:
$1,010.00
$25.19
If you reside in a province outside of Quebec:
If you enrol an eligible purchase of $1,000 CAD for an instalment plan for a payment period of 3 months, your interest rate will be 3.99%.2 So, after instalment setup, you’ll repay $335.55 monthly, which includes less than $22.00 of fees and interest.
Your Instalment Plan Details
Estimated Monthly payment
(including interest):
$335.55
Set-up Fee:4
$15.00
Estimated Total Amount:3
$1,021.66
$13.53
And it couldn’t be easier—no additional credit checks are required—cardholders can simply log in to their online credit card account and set up an instalment plan5 in 3 easy steps:
- Choose an eligible purchase
- Pick an instalment plan that meets your needs
- Confirm to set up the plan
It’s that simple!
Don’t have a card yet? To find out which one meets your needs, discover our credit cards.
+ Legal Notices
Laurentian Bank = Laurentian Bank of Canada
*Trademark of Visa Int., used under license.
Capitalized terms not otherwise defined are described in the Rewards Program Agreement
- The primary cardholder may enrol a purchase in an instalment plan if: 1. They are an eligible cardholder; 2. The purchase qualifies as an eligible purchase of $100 CAD or more (after tax); 3. Their account is in good standing.
- Interest rate depends on the payment period selected when you enrol an eligible purchase for an instalment plan and is subject to change. Terms and conditions apply.
- All dollar values are in Canadian dollars. Estimated total calculations are for illustration purposes, and assume the monthly Instalment Plan payments are made on the statement payment due date.
- If you reside outside the province of Quebec, each time you enrol an eligible purchase for an instalment plan, you will be charged an instalment fee of 1.5%, which must be paid on the first statement of account following the enrolment date. The instalment fee won’t be refunded if the instalment plan is cancelled. Simply access your online credit card account, choose an eligible purchase and payment term along with a one-time setup fee and the corresponding annual interest rate tied to the plan.
- For more information, including instalment plan eligibility, interest rates, payment period, instalment fee (if applicable), etc., consult the Agreement Governing the Use of the Laurentian Bank Visa* Cards
(PDF, 580 KB) .
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