Hello Larry, in Canada interest rate on Lines of Credit can vary according to type and lender. An unsecured Line of Credit is usually issued by a bank that has a relationship with a customer. The amounts can be as high as $50,000 and as low as $5000. The upper limit is reserved for clients with an extensive portfolio with the bank and also clients who are considered professionals like doctors and lawyers etc... It is rare to see unsecured lines of credits at more than $25,000 for the average person. Interest rates are anywhere from Prime 2% to Prime 6%, also affected by the above factors mentioned. Secured Lines of Credit on the other hand are secured with a deposit, or your home. These Lines have limits varying according to the security available. If your house has equity you can secure up to 80% of it as a line of credit. The interest rates here are anywhere from Prime -.05 to Prime 1%. The lower rate is verrrry rare and if you dont have a million dollar business account with the bank you will be looking at Prime something. As a Licensed Mortgage Agent I can arrange for a rate quote for you. Let me know. If any reader has a question about this or any topic please let me know: Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 www.centum.ca/abraham_niyazi/ I deal with 25 Lenders/Banks and can do mortgages across Canada except Quebec.

I just got a personal line of credit for 20000 at Prime 3 6 = 9% ( for my honeymoon lol, you only live once.

my line ofr credit is 10% on $5000 that will take me 2 years to pay off it was for my wedding