Certificate Loans made to the Canadian Baptist of Ontario and Quebec assist with CBOQ’s Church Mortgage Program. Loans evidenced by promissory notes executed under CBOQ’s corporate seal may be secured:
- At any time
- In multiples of $1000.00
- For a term of:
- One year bearing interest at 1.25%
- Two years bearing interest at 1.5%
- Three years bearing interest at 1.75%
- Four years bearing interest at 2%
- Five years bearing interest at 3%
– Rates reviewed March 2020 –
- With interest payable on the anniversary date each year
A small penalty is charged for early redemption.
At the end of the term your loan may be:
1. Renewed for a further term
3. Donated to CBOQ
In addition you may donate your interest to CBOQ.