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TD vs Scotiabank Line of Credit


Nishaboy

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Nishaboy
  • Law School Admit

Any advice on TD versus Scotiabank line of credits? I’ve been approved for both and I am not sure which to choose. It would be great if people could share positive and/or negative experiences or thoughts.

I will be attending Osgoode in the Fall by the way (not sure if that matters but thought I’d mention it).

Thanks!

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PePeHalpert
  • Lawyer

Do they have the same terms? Interest rates?  Re-payment grace period? Do either of them come with perks like bank accounts and credit cards and how do those perks compare?  Do you already bank with either one? I know it might seem far off, but what other financial services do the banks offer, like mortgage rates, investment advice, etc.  It's hard to assess without more information. I will say, I started law school banking with TD and switched to Scotia part way through because I felt that they better credited my earning potential and treated me better.  The credit cards offered with the Scotia LOC also had better rewards and returns.   It can be a pain to switch banks, so think long term about where you want to do your banking in the future when law school ends. 

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TheBarbieDoll
  • Law Student
6 hours ago, PePeHalpert said:

Do they have the same terms? Interest rates?  Re-payment grace period? Do either of them come with perks like bank accounts and credit cards and how do those perks compare?  Do you already bank with either one? I know it might seem far off, but what other financial services do the banks offer, like mortgage rates, investment advice, etc.  It's hard to assess without more information. I will say, I started law school banking with TD and switched to Scotia part way through because I felt that they better credited my earning potential and treated me better.  The credit cards offered with the Scotia LOC also had better rewards and returns.   It can be a pain to switch banks, so think long term about where you want to do your banking in the future when law school ends. 

can u say what was the terms u had for both td n scotia?

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PePeHalpert
  • Lawyer
2 hours ago, TheBarbieDoll said:

can u say what was the terms u had for both td n scotia?

This was many years ago so I can't remember specifics but they just offered me a better deal. More money, better repayment terms, two credit cards with much better rewards than I was getting at TD.

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