Personal Finance

What's a good rate for a unsecure LOC?

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  • Jul 4th, 2013 2:02 pm
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Deal Addict
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Mar 7, 2008
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What's a good rate for a unsecure LOC?

Scotia is offering me prime + 1.8% unsecure line of credit, is that a good rate?
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Jr. Member
Oct 30, 2012
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that is very nice rate, i got prime + 2.5% 2 years ago not from scotia though
Deal Fanatic
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Jan 6, 2011
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GTA
prime+0%, personal LOC, not business.

Scotia had good rates, so did National Bank.
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Jan 14, 2012
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Woodbridge
Prime + .03 with scotia over a year ago, decent rate though op
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Nov 23, 2005
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I have 4.5% on mine. What is "good" will depend from person to person. I guess you could say anything close to prime would be a good rate.
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Mar 7, 2008
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For those who got prime + 0.3% or better, is that a secure or unsecure LOC?
Deal Expert
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Jul 30, 2007
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Toronto
Mine is TD - P + 0.49% unsecured (1 year promotion). After, P + 2% unsecured
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LongLiveRFD wrote: prime+0%, personal LOC, not business.

Scotia had good rates, so did National Bank.
Prime+0% unsecured, this is with a credit union, purely by luck. My next best offer from any banks was prime + 1% from Scotia.

I know small biz operators get's less than prime, because they had other businesses with the bank.

Personally the rate didn't make a difference, and didn't make the difference when I really needed it. But that's what the banks does.

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