Guest Nikhila Posted July 16, 2004 Report Share Posted July 16, 2004 Hey dudes, I am in Ottawa and dealing with an RBC Med&Dental Student LOC specialist and there seems to be quite a discrepancy between this branch and those across Canada. I was wondering how many of you got the 150K up front as well as how many of you got the life insurance rate of $0.12/$1000? As well, was your LOC Agreement a special one drafted up for med students as opposed to the general student LOC agreement that is used?? I'm just trying to be as careful as possible about this agreement, I find it to be quite poorly written (i.e. it isn't clearly stated anywhere that we are still treated as students during residency and that we have a 12-month grace period after residency during which time we only have to make interest payments and no payments on our principle, also it doesn't say anywhere that the full amount we are eligible for is 150K [at least for me, I was approved for 80,000 with the option of the amount being increased to 150K but it doesn't say that last part anywhere], it also says that when we are no longer considered students the new interest rate can be up to prime + 5%)... I phoned the student specialist at the 1-800 # and he told me that he is very surprised I wasn't approved for the 150K right off the bat and that there is a special agreement form for med&dental students. Anyways, all this to say that apparently he was completely misinformed and now my RBC rep has escalated all of these issues to the head office. Any thoughts? Nikhila Link to comment Share on other sites More sharing options...
Guest Kirsteen Posted July 16, 2004 Report Share Posted July 16, 2004 Hi there Nikhila, It might help to ask your representative to contact Kevin Fernandes at the Toronto, Dundas and University RBC branch. Kevin seems to be very on top of the latest issues and policies re: the medical and dental LOC. Cheers, Kirsteen Link to comment Share on other sites More sharing options...
Guest luch Posted July 16, 2004 Report Share Posted July 16, 2004 I think there is a little confusion at RBC because according to my rep the med student LOC's were re-evaluated this year and then re-structured. I'm fairly sure that my rep did not use a generic student application, it was specific for med/dent students. My personal experience was that two days after I set foot in the bank, I had full access to $150 000 (not to mention the $15 000 Platinum Visa they tossed in). As for the life insurance you can get it cheaper from somebody else. Check this link out if you haven't already looked at it www.rbcroyalbank.com/student/medical/plan.html Ciao Link to comment Share on other sites More sharing options...
Guest Ian Wong Posted August 7, 2005 Report Share Posted August 7, 2005 Floating back to the top. Ian Link to comment Share on other sites More sharing options...
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