Guest Ticket Posted June 29, 2004 Report Share Posted June 29, 2004 I notice that no one has mentioned the BoM LOC. Switched to BoM a few years back because of their superior service (for me anyways) to other banks I've worked with. The LOC seems good to me - can anyone comment on their experiences? Thanks, ticket Link to comment Share on other sites More sharing options...
Guest McMastergirl Posted June 29, 2004 Report Share Posted June 29, 2004 I've had a BMO LOC since the beginning. Originally I went with them only because that's where my account was and I didn't know any better. However, my banker's been great and I haven't had any problems getting money. I think that depends on the branch though, because I've heard people say the service is @#%$ at BMO (referring to other branches). They have a medical student LOC - which is over an above their professional student LOC - that has been created since I started med school. It's at prime. You can get up to 125 000 as a medical student and up to 12 500 more in each of the first 2 years of residency. There are a few options for paying it off ... including 4 years interest-only payments in residency. Link to comment Share on other sites More sharing options...
Guest Watermelanie Posted June 29, 2004 Report Share Posted June 29, 2004 I'm going to sign for my BMO LOC in about half an hour! I have my investment account and RRSP's with them. They're also preapproving me for a mortgage. They've always provided excellent service, especially if you can prove to them that you have a bright future ahead of you. Link to comment Share on other sites More sharing options...
Guest JSS02 Posted June 29, 2004 Report Share Posted June 29, 2004 Haven't had any problems with them since I signed up a couple of years ago. They've been very helpful whenever I went to them. Link to comment Share on other sites More sharing options...
Guest Ticket Posted July 6, 2004 Report Share Posted July 6, 2004 Thanks for your suggestions. I've had a great rep since I was in high school - so why change now! Thanks for your help. Ticket Link to comment Share on other sites More sharing options...
Guest whynot Posted July 19, 2004 Report Share Posted July 19, 2004 I just returned from the Bank of Montreal. They have upped some of their limits. You can get a total of $150,000. This breaks down to $30,000 each year for the med school years, and $15,000 per year for the first two residency years. Total $150,000. All at prime, and you have one year to start repaying after your residency is complete. You can carry unused portions to the next year. What they were unsure of was if you did not use the whole $120,000 med school allotment whether you could get a third and fourth year residency payment of $15,000. The people I spoke to suggested to take the unused portion and put it in long term savings/gic so you would have it for residency beyond the second year. I forgot to mention that if you are presently on a BMO LOC you can get the new rules and limits applied to your account retroactively. 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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