hi i am in the process of establishing a secure line of credit for $400000 (i am using money in the form of a GIC($400000) to back the line of credit). my banker said prime plus 1% is the best rate out there. will this be the best i can do or are there better rates out there with this type of backing?
secured credit line rate?
1 - 2 of 2 Posts
Joined
·
1,464 Posts
Prime + 1% seems to be the going rate for a secured line of credit right now. However, it should decrease over time as the credit crisis sorts itself out.
1 - 2 of 2 Posts
