Bank loans in Canada

[deleted697535]

I'm an IMG PR who has done my residency at home(Europe) and now restarting kind of residency in Canada. I still have a Euro loan to pay off. I'm wondering about getting a loan in Canada to pay off my euro loan and whether that would be possible or made sense?
Any advice?
My euro loan is at about 5% interest I think. Still have few years to go to pay it off

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[Med0123]

I'm an IMG PR who has done my residency at home(Europe) and now restarting kind of residency in Canada. I still have a Euro loan to pay off. I'm wondering about getting a loan in Canada to pay off my euro loan and whether that would be possible or made sense?
Any advice?
My euro loan is at about 5% interest I think. Still have few years to go to pay it off

Usually medical students/residents in Canada are able to secure a line of credit at the prime rate. Obviously, if you are non-traditional, they may have to look deeper into your individual situation. I think it makes total sense if you are planning to live and practice in Canada to consolidate your loans at a lower rate in a Canadian bank and pay off your euro debt.

Good luck!

 

[deleted697535]

I'm paying 4.75 % on my loan at home. That's not bad. Don't know if I'll get better in canada

 

[Med0123]

I'm paying 4.75 % on my loan at home. That's not bad. Don't know if I'll get better in canada

currently prime rate in Canada is 2.7%