# Rate for unsecured personal line of credit



## slacker (Mar 8, 2010)

What's a good rate for unsecured personal line of credit nowadays? Assuming good credit, decent income, etc.

I've been getting 6.3%, and 6.5% from CIBC and PCFinancial. Anything better out there?


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## phrenk (Mar 14, 2011)

I obtained mine 2 months ago from TD, 5% with a 17k limit.


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## Islenska (May 4, 2011)

I'm in at prime plus 1 for 50k and then prime plus 1.5 (4.5%) for 100k
A bank fellow said they would boost these once the bank looked it over
Dirty devils!


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## Just a Guy (Mar 27, 2012)

It would depend on your credit rating, so asking here is rather pointless, ask at the various banks what YOU would get.


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## marina628 (Dec 14, 2010)

4% TD Bank


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## Zoombie (Jan 10, 2012)

Silly to ask in a forum, as it will depend on your own circumstance. I get prime + 7.775 which is currently 10.775 I beleive...


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## Clacker (Mar 18, 2012)

Prime + 3.5 was the best I could find (without guaranteeing that I'd be carrying a balance for x months).


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## pwm (Jan 19, 2012)

Mine is 4% at TD. I have a long history with them. This LOC was left over from a house I built in 2003.


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## Sherlock (Apr 18, 2010)

Doesn't it depend on how much money you got? If you got 10 mil with a bank, then they're probably gonna give you a better rate than if you got only a few thousand. Right?

Anyways mine is prime plus 3.5 with cibc.


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## mrPPincer (Nov 21, 2011)

At the local credit union, where I've held an account since age 5, I think the deal I worked out many years ago was prime +1.5% for 5K, but I only very rarely use it anymore, only when I need a little extra room to shuffle money around during portfolio adjustments without affecting asset allocation.

I've once used it as a backup emergency buffer zone between me and my assets in the case of a serious injury for which I was uninsured, so it's handy to keep around for that sort of thing as well.
Sadly, other than free calenders and occasional use of their fax machine, pretty much only other use I have for the old CU itself these days is to cash cheques and to use their etm to make manual deposits to a different, online CU with a good HISA.


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## Square Root (Jan 30, 2010)

I would think that the more established types on this forum would have discontinued using non secured lines of credit. Margin loans are cheaper and RE secured are usually cheaper still.


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