What is good interest rate on line of credit in canada 2011

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Mike1

What is the best interest rate on an unsecured line of credit in canada

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ANiyazi
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"In canada interest rate on lines of credit can vary according to type and lender..."

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.

Someone said: ur an idiot

Someone said: "doctors and lawyers etc?" "..million dollar business?" Do not listen to this non-sense. I am not a doctor and had a 50k unsecured loan. Then I secured it for prime -.05 after building enough equity.

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Anonymous

"I just got a personal line of credit for 20000 at..."

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

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Anonymous

"I ahve one for 10.000 unsecured for 7.60% i got a letter..."

I ahve one for 10.000 unsecured for 7.60% i got a letter today saying will go lower, 5.10% now! TD.

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Anonymous

"Have my lines of credit tied to rental properties and they are 3.5 %..."

i have my lines of credit tied to rental properties and they are 3.5 % with rbc. there is a cost for an appraisal on the property but they are great to use for buying properties quickly with less costs as you pay additional fees for every 1,000 dollars you register at land titles.

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