Student Line of Credit

Students' program

Student financing

National Bank offers you a variety of solutions to respond to your needs and help you move forward with your studies.

Student line of credit

If you're not eligible for financial assistance or the assistance you receive is insufficient to cover your educational expenses, our Student Line of Credit is the ideal solution to help you meet your financial needs and pursue your studies with peace of mind.

Advantages

  • Available at any time. You can pay your bills or purchases and transfer funds between accounts using your Client Card, at automated banking machines or via our electronic banking services or mobile banking solutions.

  • Limit geared to your needs. The annual student limit depends on your program of studies and educational level. Your credit limit1 may be reviewed and increased each year according to your needs (tuition fees, school supplies and living expenses) and level of studies.

  • Secure. You can opt for a loan insurance (life insurance, disability insurance and/or critical life insurance2) at any time.

Payment terms are based on your situation.

  • You don't have to pay back any principal while you're a full-time student.
  • Only the interest on the principal used has to be paid monthly.
  • Your repayment1 period will be established according to your credit limit.
  • You aren't required to start repaying the principal until you find full-time employment (maximum 12 months after you complete your full-time studies)1.

1 Subject to credit approval by National Bank.
2 Certain conditions apply, particularly for loan insurance eligibility.

Made-to-measure financial packages (which include a Student Line of Credit) are available if you're studying to become a professional in any of the following fields:

Student line of credit

  • You must meet the following criteria:
    • Full-time postsecondary student
    • Canadian citizen or permanent resident
       
  • Once a year, you will need to visit your branch in order to update your file.
    Be sure to bring the following:
    • Two pieces of identification
    • Proof of your status as a full-time student (registration notice or course schedule)
    • Your most recent transcript
       
  • The maximum credit limit available to you is determined according to your needs and your level of studies1.

1 Subject to credit approval by National Bank. Certain conditions apply, particularly for the authorized credit limit. Details available in branch.

Made-to-measure financial packages (which include a Student Line of Credit) are available if you're studying to become a professional in any of the following fields:

Student line of credit

  • You don’t have to pay back any principal while you’re a full-time student.

  • Only the interest on the principal used has to be paid monthly.

  • Your repayment1 period will be established according to your credit limit.

  • You aren’t required to start repaying the principal until you find full-time employment (maximum 12 months after you complete your full-time studies)1.

1 Subject to credit approval by National Bank.

Made-to-measure financial packages (which include a Student Line of Credit) are available if you're studying to become a professional in any of the following fields:

Student line of credit

Apply for a Student Line of Credit

To apply, please contact one of our advisors today. Find a branch

 

Find out more...

Call at 514-394-5555 or by e-mail

Made-to-measure financial packages (which include a Student Line of Credit) are available if you're studying to become a professional in any of the following fields:

For Quebec residents only

You don’t have the necessary funds to meet your educational expenses? National Bank participates in the Quebec government’s student loan and bursary program. You can therefore count on fast access to the financial assistance you need.

Advantages

  • You don’t have to pay any interest while you’re a student.

  • You aren’t required to start repaying your loan until six months after you complete your studies. However, interest accrues during that period.

  • Take advantage of flexible payment terms once you've completed your studies.

Application Procedure

  1. Apply online or get an application form from the Ministère de l'Éducation or the student aid office of your educational institution.

  2. Complete the form and send it to the address indicated.

  3. The government will examine your application and send you a notice informing you of the decision. If you’re eligible for a student loan, the notice will indicate the amount that has been granted.

  4. Pick up your Guarantee Certificate from your educational institution.

  5. Complete the documents you receive and have them authorized by your educational institution.

  6. Go to a National Bank branch with your Guarantee Certificate and proof of identity in order to have your loan amount deposited into your account.

More information

When you sign up for an MC1 card, you’re choosing convenience for today, while keeping your eye firmly on your plans for the future.

Your MC1 card is a useful way to manage your money and monthly budget. It’s also a convenient way to make purchases, manage your day-to-day cash flow and is a good back-up for unexpected expenses or emergencies.

You can also use it to access your National Bank personal accounts through online banking and at ATMs.

It also gives you freedom, because you don’t have to have tons of cash on you all the time. It’s safer, cooler, and takes up way less space in your wallet!

Benefits

  • MasterCard Zero Liability2.

  • Purchase insurance and extended warranty

  • No annual fee and you can reduce credit risk by keeping your credit limit at $500

  • No annual fee and you can reduce credit risk by keeping your credit limit at $500

  • Accepted worldwide
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1 Subject to credit approval by National Bank.
2 Certain conditions and restrictions apply. Go to www.mastercard.ca for complete information.