TD Canada Trust

RBC

Scotia

CIBC

BMO

MD Financial

Interest Rate

Prime

Prime

Prime

Prime + 2%

Prime

Prime

Total Amount

 Up To $150,000

Up To $150,000

Up to $200,000 During School

$15,000 During Residency

Up To $150,000

Up To $120,000 during 4 years

$30, 000 during residency

 Up To $150,000 During School

$20,000 During Residency *Med students only*

Credit Card

$5000 Visa

$5000 Visa

$5000 Visa

Not included in the package

Not Included in the package

 Visa included - credit limit depends on credit rating

Annual Borrowing Limit

$60,000, $90,000, $112,500, 150,000

($30,000 yrly max)

Must apply each yr

No borrowing cap at discretion of acct. manager

$50,000 per year

$37,500, $75,000, 112,500, $150,000

$30,000

$60,000

$90,000

$120,000

$50,000

$90,000

$112,500

$150,000

Chequing Account

No Fee

Limited account

Free Banking Account with Limited transactions

No Fee Unlimited Transactions Chequing Account

No fee everyday chequing account

No discount on personal banking

Unlimited Transactional Account

Cosigner

Generally Not Required

Generally not required

Not Required

Generally Not Required

Generally required

Generally Not Required

Repayment

Repayment of 1% of balance once 12 month grace period has expired 

Up to 15 year amortization after 12 month grace period

Interest rate increases

Up to 15 year amortization after 12 month grace period after residency

Int rate Remains at Prime with 10 year amortization

 Up to 12 year amortization.

Int Rate must be renegotiated after 12 month grace period

Up to 15 year amortization after 12 month grace period

Interest rate and amortization must be renegotiated after 12 month grace period

Monthly payment

Interest must be paid monthly

Interest must be paid monthly

Interest charged directly to line of credit monthly

Interest must be paid monthly

Interest must be paid monthly

Interest charged directly to line of credit monthly