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@kevintristan Nope (I work for one of the Big 5)

Also, when they say "Prime", they mean the Bank's internal prime lending rate, not the BoC Prime. They aren't the same between institutions, so you should compare on the actual net interest rate.

@truthseeker1974 A few years ago when the Banks were keen to lend money that makes sense. Definitely hold on to that one.

@phoenixmod There's no way an unsecured LOC is available at Prime+1%, unless it's a short term teaser rate. Mortgages are Prime+1%-ish, and a secured LOC is probably still 2-3% above prime.