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Which bank is now offering the best PSLOC?


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  • Law Student

It looks like TD is now offering $150k at Prime + 0 for law students (up from $125k last year). Looking at getting a line of credit soon and this appears to be the best rate and limit offered right now. CIBC's website advertises $100k at Prime + 1%, which seems like a pretty bad deal. 

I wasn't able to find any precise numbers for other banks online. BMO appears to offer an unspecified amount at Prime + 1%, and I couldn't find anything online for Scotia and RBC (but based on past posts here it appears Scotia gives out $135k at Prime + 0). 

Just wondering if anyone else has been offered/advertised anything similar or better than TD?

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Snails and Ales
  • Law Student
1 hour ago, Borat said:

It looks like TD is now offering $150k at Prime + 0 for law students (up from $125k last year).

Did you get this information directly from TD? Their website seems to still show 125k for law students.

EDIT: Nevermind, two different web pages on TD's site provide two different numbers. I see where it says 150k.

Edited by Snails and Ales
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  • 3 weeks later...
  • Law School Admit

Just spoke to an advisor at Scotiabank today. Here's what they sent me regarding the professional student line of credit:

Regarding spsp law, we can offer up to $135,000 in a line of credit at Prime (currently 2.7%) This is not advanced all at once, you get a portion of this throughout 3 years ($41,700 , $41,700 and $51,600). We also factor in your articling as if you were still a student.

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