The medical student and resident line of credit1



With over 6,100 medical student and resident clients, MD Physician Services has developed expertise in the financial needs of CMA members like you. That's why we offer a solution that helps you fund your medical education and living expenses while keeping your debt to a minimum. Borrow up to $200,0002 by the end of residency in flexible annual increments to help you effectively manage your debt.

Other benefits include:

  • Interest is charged at Prime rate3 with no account handling fees.
  • You can defer interest until 12 months after you complete residency or choose to pay some or all of the interest at any time. If you choose to defer interest, no monthly payments are necessary during this period because interest accrues within your account and is capitalized monthly on your line of credit.
  • A completely transactional account - you don't need a separate bank account.
  • A personalized CMA/MD client card
  • Up to 200 free cheques per year.
  • Unlimited electronic transactions.
  • You can access your account at over 2,300 ATM machines across Canada via THE EXCHANGE® Network. To find an ATM in your area, click here.
  • You can set up direct payments to and from your Student and Resident Privilege Account or to your CMA/MD MasterCard.

Contact your MD advisor or download an overview.

1Banking products are provided by National Bank of Canada's Partnership Branch through a relationship with MD Management Limited. Subject to credit approval by National Bank. Certain conditions apply.

2The following medical students or residents are not eligible for this program: those studying part-time, attending a non Canadian school, enrolled under the Canadian Defence Medical Officer Training Plan (MOTP), Non Canadian citizen or non permanent resident. Medical students or residents belonging to one of the foregoing categories may be eligible for standard loans (with a qualified Canadian resident co-applicant ). All loans are subject to credit approval by National Bank of Canada.

3Prime 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. To check the prime rate, which is updated regularly, click here.

A statement of account is mailed every 30 days. There is no obligation of interest or capital payment during medical school or and residency. Interest will accrue during this period. Interest and insurance premium fees (if applicable) always appear on the monthly statement of account; and bear interest beginning at this time. It is possible to pay those fees if desired. No annual fees. No administration fees. Examples of credit charges calculated for a 30-day period at the rate in effect on April 1, 2011.

  If average balance is:
Annual interest rate $500.00 $3,000.00
2.75% $1.23 $7.40