What is the credit score in Canada?
The value of the credit rating in Canada ranges from 300 to 900, while:
- credit score from 300 to 559 is poor and you can hardly expect to receive most loans
- 560-659 is fair, it may be sufficient for secured, but for unsecured loans, work on improving your score
- 660-724 is good, you could apply for most credit cards but you should not count on the most favorable credit conditions
- 725-759 is very good, you can expect to receive the most types of credit cards and other kinds of loans
- 760-900 is excellent, you can count on receiving all types of loans (card, personal, vehicle, mortgage) on the most favorable terms
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 20,000 | 7.45% | 807 |
| 20,000 | 10.45% | 1,132 |
| 20,000 | 13.45% | 1,457 |
| 50,000 | 7.65% | 2,072 |
| 50,000 | 10.65% | 2,884 |
| 50,000 | 13.65% | 3,697 |
| 100,000 | 7.85% | 4,252 |
| 100,000 | 10.85% | 5,877 |
| 100,000 | 13.85% | 7,502 |
| 200,000 | 8.05% | 8,721 |
| 200,000 | 11.05% | 11,971 |
| 200,000 | 14.05% | 15,221 |
You can see the similar FAQ at the link:
- B2B Bank SMART Loan
- B2B Bank investment loan
- B2B bank RRSP loan
- CIBC collections contact
- CIBC loan and financial calculators
Details of companies offering the financial services:
LendforAll
Web-site: https://lendforall.ca
ClearScore
Head office’s address: 199 Bay Street, Toronto
Web-site: https://carsfast.ca
Equifax
Web-site: https://www.equifax.ca
FreeScoreOnline
Web-site: https://www.freescoreonline.com