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This minus adds up.

Get prime minus 0.25% on a Medical Student and Resident line of credit until the end of residency.

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MD Advisor

Some financial institutions give large upfront credit limits without the necessary financial advice to manage them wisely. Not us.

Borrow wisely up to $275,000 by the end of residency2.

Through MD’s business relationship with National Bank, you have access to a flexible financing solution that enables you to borrow only what you need, when you need it. You can:

  • Borrow up to $275,000 by the end of residency.
  • Control your borrowing with funds provided in annual increments.
  • Steer clear of account fees while you are a full-time medical student or resident.
  • Easily access your funds through THE EXCHANGE®3 ABM network, with more than 3,300 ATMs across the country4, as well as Interac®5, telephone and online banking.
  • Defer payments6 on interest and principal until 12 months after you finish residency (interest accrues during this time).

Plus, get objective financial advice from an experienced MD Advisor.

As a member of the CMA, you are entitled to specialized financial guidance. Your MD Advisor can help you:

  • Arrange a Medical Student and Resident Line of Credit to pay for your medical training.
  • Design a personalized financial plan to prevent over-borrowing.
  • Review your financial plan regularly to ensure your funding lasts until you start practising.
  • Design a plan for paying off your debt.
  • Review your insurance needs.

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1 MD MedEd CounselTM services are provided by MD Management Limited, a CMA company.

2 Banking products and services are offered by the National Bank of Canada through a relationship with MD Management Limited. Credit and lending products are subject to credit approval by the National Bank of Canada.

®3 Registered trademark of Fiserv Inc.

4 Visit to find an ATM near you or to download THE EXCHANGE ATM locator app for your smartphone device.

®5 Registered trademark of Interac Inc.

6 Interest will accrue during this period and is charged directly to your line of credit account—not to a separate chequing account. A statement of account is issued monthly. Account handling charge: $0.00/month. The annual interest rate for a Medical Student and Resident Line of Credit is the prime rate* - 0.25% (representing a rate of 2.95% as of October 1, 2017). For existing clients, please contact your MD Advisor. The line of credit bears interest as of the date it is used. The minimum monthly amount is limited to the monthly interest and the life insurance premium (if applicable) as long as limits are respected.

7 The $220.40 in savings corresponds to the monthly fees for transactions included in the student chequing account being waived for 12 months ($7.95 x 12 months) and the Platinum MasterCard annual fee waived for one year ($125). Savings could be less if another banking package or program is chosen. Complete details on the monthly service fees for National Bank of Canada banking packages and programs are available at National Bank of Canada branches or at

Examples of credit charges calculated for a 30-day period at the rate in effect on October 1, 2017:

If average balance is:
Medical Student and Resident Line of Credit $500 $3,000
Prime rate (2.95%) $1.21 $7.27

The following medical students and residents are not eligible for this program: those studying part-time, attending a non-Canadian school or enrolled under the Canadian Defence Medical Officer Training Plan, as well as non-Canadian citizens and non-permanent residents. Medical students and residents belonging to one of the foregoing categories may be eligible for standard loans (with a qualified Canadian resident co-applicant). Financing solutions are subject to credit approval by the National Bank of Canada.

Prime rate means the annual variable interest rate published by the National Bank from time to time as the benchmark interest rate for Canadian dollar demand loans granted by the National Bank in Canada. This rate is subject to change without notice. Check the prime rate which is updated regularly.