101what Posted June 29, 2018 Report Share Posted June 29, 2018 Are there any fees associated with opening, closing, keeping an LOC? How is MD Financial? Do they charge such fees apart from the interest on your loan? Is there an inactivity fee on this line of credit? Link to comment Share on other sites More sharing options...
Mithril Posted June 30, 2018 Report Share Posted June 30, 2018 There shouldn't be any fees. I don't have any fees at least. Link to comment Share on other sites More sharing options...
Bluberblubo Posted July 2, 2018 Report Share Posted July 2, 2018 MD Financial is not a bank, so you can't get a LOC from them. They would likely recommend you get one with scotiabank. There shouldn't be any fees associated with having it, as mentioned above Link to comment Share on other sites More sharing options...
ellorie Posted July 2, 2018 Report Share Posted July 2, 2018 32 minutes ago, skyuppercutt said: MD Financial is not a bank, so you can't get a LOC from them. They would likely recommend you get one with scotiabank. There shouldn't be any fees associated with having it, as mentioned above I’m pretty sure you actually can get one through them - they’re partnered with National Bank or something. https://mdm.ca/features/avoid-over-borrowing-with-a-medical-student-and-resident-line-of-credit Just, most people go with Scotia instead. Or whatever bank they were already with. Link to comment Share on other sites More sharing options...
JohnGrisham Posted July 2, 2018 Report Share Posted July 2, 2018 1 hour ago, ellorie said: I’m pretty sure you actually can get one through them - they’re partnered with National Bank or something. https://mdm.ca/features/avoid-over-borrowing-with-a-medical-student-and-resident-line-of-credit Just, most people go with Scotia instead. Or whatever bank they were already with. I think above poster may have also been referring to the recent sale of MDM to Scotiabank, i imagine being partnered with scotiabank now means their MDM LOCs will be through them...and not NationalBank anymore. At least i'd imagine, but youre definitely right you could get a LOC via NB before. Link to comment Share on other sites More sharing options...
rmorelan Posted July 2, 2018 Report Share Posted July 2, 2018 5 hours ago, JohnGrisham said: I think above poster may have also been referring to the recent sale of MDM to Scotiabank, i imagine being partnered with scotiabank now means their MDM LOCs will be through them...and not NationalBank anymore. At least i'd imagine, but youre definitely right you could get a LOC via NB before. yeah it is all in flux - kind of a crazy time overall for the MD LOC route. They haven't exactly jumped with an update yet. Cannot imagine NB will be getting too many LOCs after this ha. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.