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Equitable Bank Announces New CSV MAX Line of Credit and iA Financial Group Partnership
Equitable Bank Announces New CSV MAX Line of Credit and iA Financial Group Partnership ...
About this update from Eqb Inc
[{"type":"text","content":"\n\n\n\nEquitable Bank Announces New CSV MAX Line of Credit and iA Financial Group Partnership\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct. 28, 2019\n\n\n\nNew partner agreement and product expansion are part of a broader strategy to increase presence within the CSV lending market.\n TORONTO, Oct. 28, 2019 /CNW/ - Equitable Bank, a wholly-owned subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C), launched its Cash Surrender Value MAX (\"CSV MAX\") Line of Credit today to complement its existing Cash Surrender Value FLEX Line of Credit (\"CSV FLEX\"). Equitable Bank is also proud to announce a new partnership agreement with iA Financial Group to add to its group of partnered insurers. \n\n \n \n\n \nThe CSV MAX is a strong addition to Equitable's CSV product line because it enables a much wider range of Canadians to borrow against their insurance policies in a tax efficient manner.  With CSV MAX, Canadians who are the age of majority will be able to borrow 90% of the cash surrender value of their whole life insurance policies as long as they can service the required monthly interest payments. \n\"Our experience in market with CSV FLEX quickly apprised us of the need for a higher loan-to-value CSV lending product as a solution to both decumulation and tax efficient borrowing during earning years\" says Mahima Poddar, SVP of Strategy and Digital Banking at Equitable Bank. \"Consistent with our Challenger Bank mantra, our CSV product teams seized the opportunity and brought an innovative new product to market as quickly as possible.\"  \nEquitable Bank's CSV MAX is available nationwide to Canadians that hold whole life insurance policies with one of Equitable Bank's partner insurers. A complete list of Equitable Bank's insurance partners can be found at https://www.equitablebank.ca/lines-of-credit/csv/our-partnered-insurers.\nThe CSV FLEX product will continue to serve Canadians aged 50 and up that hold whole life insurance policies with one of Equitable Bank's partner insurers. D...