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Are you facing quarterly tax payments or another semester of tuition bills, or simply need some cash to manage your business expenses? Perhaps you need some cash until a CD or bond matures. You might be tempted to tap into your emergency savings or sell investments to get the money you need.
But did you know that, as an Edward Jones client, you can borrow against your investment portfolio?
The Edward Jones Personal Line of Credit is a margin loan taken against the value of the margin-eligible investments in your account. With the Personal Line of Credit, your investments can continue to help you work toward your goals while serving as a source of collateral for credit you may use under certain conditions.
Our Personal Line of Credit is:
While there are many potential uses for the Personal Line of Credit, it’s important to understand when it makes the most sense to use this option versus other sources of borrowing.
Uses may include:
Many accounts are eligible for the Personal Line of Credit. Ineligible account types include, but are not limited to, retirement accounts and advisory accounts, such as Edward Jones Advisory Solutions® and Edward Jones Guided Solutions® accounts. Please contact your financial advisor for further details regarding eligible account types and investments.
While the repayment schedule is flexible, there is always the requirement to pay back the loan, including interest, and you should weigh the risks of using margin as a line of credit against the potential benefits.
Most firms base the interest rate on the size of the loan, but in our view this ignores the depth of the relationship we share. Edward Jones will base your interest rate on the size of the relationship you have with us. The more assets you have under our care, the lower your relative interest rate on a loan, no matter what the size of your loan is. Learn more
An Edward Jones Personal Line of Credit is a margin account. Borrowing against securities has its risks and is not appropriate for everyone. You can lose more funds than you deposit in the margin account. If the value of your collateral declines, you may be required to deposit cash or additional securities, or the securities in your account may be sold to meet the margin call without notice to you. You may not be entitled to choose which securities or other assets in your accounts are liquidated or sold to meet a margin call. The firm can increase its maintenance margin requirements at any time and/or not grant an extension of time on a margin call. Interest will begin to accrue from the date of the loan and be charged to your account. Available only on certain types of accounts.
Your Edward Jones financial advisor can help you determine whether the Personal Line of Credit is right solution to meet your borrowing needs. Call your financial advisor today to learn more.