Contact an
MD Advisor

Banking Solutions for Medical Students and Residents

Whether you need funds to help pay for medical school or you’re looking for a credit card that offers great benefits and a competitive rate, we can help you choose the banking solution that suits you best.1 Take advantage of our solutions designed specifically for medical students and residents:

Line of Credit

The Medical Student and Resident Line of Credit, offered through National Bank, is designed to help you manage your finances as you progress through medical school and residency. The overall limit is $275,000, but the funds are available in flexible annual increments. MD helps you set annual financial goals to help minimize debt. That way you meet your needs today without jeopardizing your long-term financial freedom.

We never recommend over-borrowing

Our experience has shown that some students and residents run out of credit before finishing their studies or training because some banks give large credit limits up front without proper financial advice. Other students borrow too much and end up with huge amounts of debt that they carry through to practice.

How the Medical Student and Resident Line of Credit is different


  • Your MD Advisor helps you map out a realistic budget for all your expenses, and then helps you get the funds you need.
  • The funds are available in flexible annual increments to help you effectively manage and consolidate your debt.
  • You also have access to other benefits, including unlimited transactions3 and interest charged at prime minus 0.25%4 with no management fees. For more information, please see the Fee Guide.

To learn more or to apply, please contact an MD Advisor.

Privilege Package

Simple low-cost, everyday banking services. The Privilege Package for Medical Students and Residents is designed specifically for your needs. Here’s what you get:


  • unlimited transactions3 with no monthly service fee on the transactions included in the accounts5—a privilege reserved for medical students and residents
  • debit card purchases through Interac®, NYCE® and Maestro® networks
  • easy transfer of funds to accounts at participating Canadian financial institutions using Interac® e-Transfer®
  • mobile banking solutions that make it easy to manage your finances from your mobile device
  • withdrawals, transfers and withdrawals for one bill payment at National Bank ATMs
  • account access at thousands of ATM machines across Canada via THE EXCHANGE®4 Network. Find an ATM in your area
  • overdraft protection through a link to your Medical Student and Resident Line of Credit (any overdraft is automatically taken from your line of credit, thus protecting you from high overdraft charges)
  • four free withdrawals per month from Interac® ATMs in Ontario, the Atlantic provinces and Prairie provinces
  • free online monthly statements
  • no charge on first order of 100 personalized cheques (shipping fees and taxes not included)

Transactions at the branch are charged at the regular rate. Certain transactions could result in fees. Refer to Your Guide to Personal Banking Solutions for more details. The cost and complexity of everyday banking could be reduced with a service package that’s designed with you in mind. To learn more or to apply, contact an MD Advisor.

For a list of other applicable fees, please see the Fee Guide.

Contact your MD Advisor for professional advice and a banking referral, or call National Bank’s MD Banking Solutions Service Centre at 1 866 333-2580) for more product information.

National Bank Logo

Sign in to access your National Bank account or sign up for online services.

Find the closest ATM

® MASTERCARD and MAESTRO are registered trademarks of Mastercard International Inc. Used under license.

® INTERAC e-TRANSFER and INTERAC are registered trademarks of Interac Inc.

® THE EXCHANGE is a registered trademark of Fiserv Inc.

® NYCE is a registered trademark of NYCE Corporation Inc.

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

2 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 3.45% as at May 3, 2018). 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. Examples of credit charges calculated for a 30-day period at the rate in effect on May 3, 2018:

If average balance is:
Medical Student and Resident Line of Credit $500.00 $3,000.00
Prime rate (3.45%) $1.44 $8.63

3 Transactions carried out at National Bank ABMs, a participating merchant, through National Bank's online banking services (including their call centre) or those related to certain operations in your account.

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

5 5 Bank account with chequing privileges. Certain services, such as paper statements, are not included.