Coronaxtra Posted April 27, 2017 Report Share Posted April 27, 2017 Has anyone tried to shop around for a LOC? How have the offers been for others? The best I've received is from Scotia and TD who are willing to do prime minus 0.5 with 275k and the usual credit cards fees waived. EDIT: Unfortunately, the minus 0.5 was denied when I put the application in for approval. I was given minus 0.25 with 275K and Scotia AmEx/Infinite Momentum after negotiating fees waived. Link to comment Share on other sites More sharing options...
Ostracized Posted April 27, 2017 Report Share Posted April 27, 2017 Ask if they will convert the student LOC into a regular LOC at the same rate after graduation. RBC did that for me and it's been very useful. Link to comment Share on other sites More sharing options...
z12345 Posted April 27, 2017 Report Share Posted April 27, 2017 is minus 0.5 only available to dental students? Link to comment Share on other sites More sharing options...
Coronaxtra Posted April 27, 2017 Author Report Share Posted April 27, 2017 Ask if they will convert the student LOC into a regular LOC at the same rate after graduation. RBC did that for me and it's been very useful.Yes I was told it will remain an LOC after graduation with the same rate. RBC wasn't giving me anything less than prime and only 225k. is minus 0.5 only available to dental students? I was told med students get the same or better rate than dental students. But I think it varies since someone else was only offered prime by Scotia/TD and they wouldn't budge Link to comment Share on other sites More sharing options...
DennisCPA Posted April 27, 2017 Report Share Posted April 27, 2017 Has anyone tried to shop around for a LOC? How have the offers been for others? The best I've received is from Scotia and TD who are willing to do prime minus 0.5 with 275k and the usual credit cards fees waived. That is standard from what I've seen in the industry. I would suggest Scotia or RBC as they have a dedicated team for healthcare professionals. Ask if they will convert the student LOC into a regular LOC at the same rate after graduation. RBC did that for me and it's been very useful. The rules have changed, in past Scotia and RBC would transition your student LOC to a professional LOC. Now with RBC, when you graduate the LOC will be converted to a loan and a small portion of that can be kept as a LOC. With Scotia, they are offering to convert the student LOC to a professional LOC upon graduation, however, they will charge a monthly fee on the LOC. The banks always change their policies to stay competitive. The few months before you graduate, see which bank will give you what you want (I would prefer having a prof. LOC), and go with them. Switching banks is very easy for doctors, they all want your business. Link to comment Share on other sites More sharing options...
Askmeanything Posted April 27, 2017 Report Share Posted April 27, 2017 What is the difference between student vs professsional vs regular loc? Link to comment Share on other sites More sharing options...
Jugg604 Posted April 27, 2017 Report Share Posted April 27, 2017 May I ask which ScotiaBank was offering you the "prime - 0.5" rate? The Scotiabank at UBC was offering Prime - 0.25; I've already signed the papers, so I doubt I can still negotiate.... Link to comment Share on other sites More sharing options...
Coronaxtra Posted April 27, 2017 Author Report Share Posted April 27, 2017 May I ask which ScotiaBank was offering you the "prime - 0.5" rate? The Scotiabank at UBC was offering Prime - 0.25; I've already signed the papers, so I doubt I can still negotiate.... The locations near square one in Mississauga . I went to three different ones and they all offered the same thing. The only thing is they want it signed and approved by April 30 Link to comment Share on other sites More sharing options...
Carrie Underwood Posted April 30, 2017 Report Share Posted April 30, 2017 Has anyone tried to shop around for a LOC? How have the offers been for others? The best I've received is from Scotia and TD who are willing to do prime minus 0.5 with 275k and the usual credit cards fees waived. Would you be able to let me know which TD was offering prime-0.5 as well?! Thanks! Link to comment Share on other sites More sharing options...
JohnGrisham Posted April 30, 2017 Report Share Posted April 30, 2017 Has anyone tried to shop around for a LOC? How have the offers been for others? The best I've received is from Scotia and TD who are willing to do prime minus 0.5 with 275k and the usual credit cards fees waived. This is a first. Where are you located? Link to comment Share on other sites More sharing options...
4mbition Posted May 31, 2018 Report Share Posted May 31, 2018 Sorry to revive an older thread, but does anyone have a downtown Toronto bank contact that can offer the LOC with prime minus 0.5? Thank you! Link to comment Share on other sites More sharing options...
noneed2live Posted May 31, 2018 Report Share Posted May 31, 2018 do the scotia banks in Mississauga still do prime -0.5? Link to comment Share on other sites More sharing options...
qwerty2222 Posted May 31, 2018 Report Share Posted May 31, 2018 Deleted Link to comment Share on other sites More sharing options...
BBB123 Posted July 21, 2018 Report Share Posted July 21, 2018 Has anyone been able to get their LOC from RBC with prime minus 0.5%? The best I got from them is prime minus 0.25... :( Link to comment Share on other sites More sharing options...
zeej Posted July 24, 2018 Report Share Posted July 24, 2018 On 7/21/2018 at 4:00 PM, BBB123 said: Has anyone been able to get their LOC from RBC with prime minus 0.5%? The best I got from them is prime minus 0.25... Nope. Just met with them recently and got prime-0.25. Seems like this prime or prime-0.25 is what the major banks are offering right now for dent. Link to comment Share on other sites More sharing options...
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