Posted on: 04-09-04 20:05:42
Hi all
I am in canada , toronto sinse 1 year and working since my arrival a nd i need to help to get a line of credit. pls erply me at
thanks
regards
syed aamir
You can approach your bank with whom you are banking. If you have a good credit history, then you will be approvea t prime plus 1 1/2 %. The amoutn approved will depend on your credit history from $5000/- and up. If you purchase a house with 25% down then that bank will also offer you line of credit at prime.
Cherryl
Quote:
Orginally posted by ccherryl
You can approach your bank with whom you are banking. If you have a good credit history, then you will be approvea t prime plus 1 1/2 %. The amoutn approved will depend on your credit history from $5000/- and up. If you purchase a house with 25% down then that bank will also offer you line of credit at prime.
Cherryl
I beg to disagree abt int rate. It can be P + 0% to upto 5%. Usually unsecured PLCs (Personal Line of Credit) cost more. I believe, Syed is looking for unsecured PLC, P + 1.5% seems unlikely. But hey, if you can get it, GRAB it.
By the way PLCs are really good to have. Just in case, one may need it. Good part is that it doesn't cost any money to keep it active and available to you. You pay int only when you use it and that too, oly on the bal used. The APR is also much better than APR on credit cards.
Hey Syed, if you still need it, feel free to contact me, or just contact your personal banker.
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Quote:
Orginally posted by syedaamir74
Hi all
I am in canada , toronto since 1 year and working since my arrival a nd i need to help to get a line of credit. pls erply me at
thanks
regards
syed aamir
Hi Aamir,
If you have'nt got the line of credit still, contact me by PM and I will help you in getting the same.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Quote:
Orginally posted by reachash
Quote:
Orginally posted by ccherryl
You can approach your bank with whom you are banking. If you have a good credit history, then you will be approvea t prime plus 1 1/2 %. The amoutn approved will depend on your credit history from $5000/- and up. If you purchase a house with 25% down then that bank will also offer you line of credit at prime.
Cherryl
I beg to disagree abt int rate. It can be P + 0% to upto 5%. Usually unsecured PLCs (Personal Line of Credit) cost more. I believe, Syed is looking for unsecured PLC, P + 1.5% seems unlikely. But hey, if you can get it, GRAB it.
By the way PLCs are really good to have. Just in case, one may need it. Good part is that it doesn't cost any money to keep it active and available to you. You pay int only when you use it and that too, oly on the bal used. The APR is also much better than APR on credit cards.
Hey Syed, if you still need it, feel free to contact me, or just contact your personal banker.
Hi, Reachash, is correct. You contact him. He is a banker and will help you getting it at the best rate available based on your credit history and several other factors.
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I read in India Today that ICICI bank is giving credit card to new Indian immigrants .
http://www.icicibank.ca/
http://sify.com/finance/equity/fullstory.php?id=13544169
Indians going to Canada need not worry about opening bank accounts there. ICICI Bank, through its Canadian arm, has launched `Hello Canada New Comers Account' targeting people who plan on settling or have already been approved to reside, work or study in Canada.
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