Apprenticeship Linked Line of Credit (ALLOC)

Apprenticeship Linked Line of Credit
(ALLOC)
Product Benefits/Features:

Flexible payment option: Pay the interest only, a portion of the balance, or the entire balance at
any time.

Apply only once, and as you pay off the credit you use, it becomes available to you again.

Remains in affect after you graduate.

Loan protection is also available.
Product specifications
Product options:

ALLOC without Life Protection and Disability Protection
- Minimum Amount: $5,000
- Maximum Amount: $50,000
- ALLOC at prime + 2.5% (On Approved Credit); as of September 1, 2014 the effective
rate is 5.5%

ALLOC with Life Protection and Disability Protection
- Minimum Amount: $5,000
- Maximum Amount: $50,000
- ALLOC at prime + 2% (On Approved Credit); as of September 1, 2014 the effective
rate is 5.0%
More banking with ATB

An Apprenticeship Linked Line of Credit (ALLOC) is a revolving line of credit that offers a direct
link between a customer’s chequing account and their available credit.

Repayment is made directly when a deposit is made to the account. The borrower pays interest
each month.

Payments can be as low as interest only.

Loan protection is available and can provide the client with a rate discount.

Balances up to the Apprenticeship Linked Line of Credit (ALLOC) limit will accrue interest at the
above applicable ALLOC rate.

If the customer wishes to qualify for the deposit account offer of 6 months of account fees
waived, they must set up the ALLOC with an Unlimited account only. As of September 1, 2014
the monthly fee for the Unlimited account is $9.95.

Interest accrues at the overdraft interest rate on amounts over the authorized LLOC limit.

If the ALLOC is connected to an ATB deposit account, they will be charged the ALLOC rate as
the overdrawn interest rate.

If the ALLOC is not connected to an ATB deposit account, they will be charged the standard
Overdraft Rates.
Note: As of September 1, 2014 ATB prime rate is 3%, and is subject to change without notice.
Have a question? Please contact:
Amelia Hunka
Branch Manager
Oliver Village
11366 104 Avenue NW
Edmonton, Alberta
[email protected]
780 - 422- 4804

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