Thread: National Bank of Canada - Loans

Hey all,

So RBC is a no-go for me (since i'm poor, and my parents are poor not really), so I was wondering if anyone has tried NBC. They seem to offer a pretty good package, and I'm still debating between them and Ed-Invest.

Oh, and MD Management seems to be a no go for students who are studying abroad. Apparently, you need to be a CMA member, and you can't if you are not studying in Canada.

Thanks a bunch!!!!

I heard about the NBC loan in the Canadian IMG forum. I think its relatively new.

they seem to offer more money than the RBC loan - but the 'more' part seems to be after you've already graduated with your MD.

there are more details about this on the NBC website (there's a downloadable brochure).

other than that - I don't know anyone who has this loan (I think its relatively new). I believe you need a cosignor for this loan also.

Cheers,

Silenthunder

Hey,
I can tell you FOR SURE that MD Management is a go.....I have a line of credit through them already. You do have to be a CMA member, but that just means paying them the annual fee. You can also try CANHELP which is similar to the MD Management line of credit, but you don't need a cosigner necessarily. Hope that helps!
Sej

Originally Posted by Sejra

Hey,
I can tell you FOR SURE that MD Management is a go.....I have a line of credit through them already. You do have to be a CMA member, but that just means paying them the annual fee. You can also try CANHELP which is similar to the MD Management line of credit, but you don't need a cosigner necessarily. Hope that helps!
Sej

Hey,

I guess it depends on who you talked to. I got a call today, and the fella told me that because SGU is outside of Canada, I can't qualify for CMA membership. They said they can help me if I return to Canada, but not before. He seemed like a nice enough guy.

Do you remember who you spoke with?

Thanks a bunch!!!!

Originally Posted by Silenthunder

I heard about the NBC loan in the Canadian IMG forum. I think its relatively new.

they seem to offer more money than the RBC loan - but the 'more' part seems to be after you've already graduated with your MD.

there are more details about this on the NBC website (there's a downloadable brochure).

other than that - I don't know anyone who has this loan (I think its relatively new). I believe you need a cosignor for this loan also.

Cheers,

Silenthunder

Hey,

My friend, who's doing his 3rd year of chiro suggested them. I called them up and it seems like it may work out. I looked at their brochure, and now I just have to set up an appointment to see what they have to offer and if it will work.

The breakdown I got was:
$50K for year one;
$90K for year two;
$120K for year three;
$150K for year four;

I'll fill ya in as I get more info!!

Oh, and since I'm 24 y/o; they said I won't need a cosigner.

Can you defer interest payments? This was the deal-breaker for me when it came to RBC

Originally Posted by MetaMed

Can you defer interest payments? This was the deal-breaker for me when it came to RBC

So long as it is within your credit limit for the year, then yes.

And they have a $200k max limit.

And it is at PRIME!!!

Hey did anyone actually get a loan from them? i spoke to an adviser at my branch and they told me that it may only be offered to students entering Canadian Medical Schools?

As a reply to the questions about MD Management, I talked to a guy named Ryan Grant in the Toronto offices. I had called him on the phone, they told me it would be no problem, then I went all the way down to their offices, and SOMEONE on the phone told him the same thing that they told you. I was pissed, and I walked down the street to CIBC to see what they had in the way of loans, and about 10 minutes later, Ryan called me, told me there was a huge mistake and they did do loans. They apparently didn't used to but they have changed their policy. Give him a call, and he can definitely help you. Also, you can become a member of the CMA as an international student, we just pay a higher fee ($360ish a year); not a bad deal though, I figure, as I hope it will look good for me having been a CMA member for 4 years when/if I apply for a Canadian residency.......also, you get these journals once a month, and more often than not they have some good articles in them!

Originally Posted by Sejra

As a reply to the questions about MD Management, I talked to a guy named Ryan Grant in the Toronto offices. I had called him on the phone, they told me it would be no problem, then I went all the way down to their offices, and SOMEONE on the phone told him the same thing that they told you. I was pissed, and I walked down the street to CIBC to see what they had in the way of loans, and about 10 minutes later, Ryan called me, told me there was a huge mistake and they did do loans. They apparently didn't used to but they have changed their policy. Give him a call, and he can definitely help you. Also, you can become a member of the CMA as an international student, we just pay a higher fee ($360ish a year); not a bad deal though, I figure, as I hope it will look good for me having been a CMA member for 4 years when/if I apply for a Canadian residency.......also, you get these journals once a month, and more often than not they have some good articles in them!

Hey,

Thanks for updating. I'll give him a call and find out what is going on.

I'll update as I go.