How quick can I apply for a loan online?
In Canada, you can often apply for a loan online quickly, with the process typically taking anywhere from a few minutes to a few hours. Here's a general overview of what to expect:
- Application Process Timeline: a few minutes to gather documents.
- Online Application: usually 10 to 30 minutes.
- Initial Review: immediate to a few hours.
- Approval and Fund Disbursement: a few hours to a few business days.
What is the lowest interest for personal loans in Canada?
The interest rates for personal loans vary widely depending on factors such as the lender, the borrower's credit profile, the loan amount, and the term of the loan.
Lowest Interest Rates for Personal Loans:
- Excellent Credit Scores: typical range from 4% to 6%
- Good to Fair Credit Scores: typical range from 6% to 12%
- Bad Credit Scores: typical range from 12% to 30% or more
Can a Canadian get a personal loan in the US?
Canadians can get personal loans in the U.S., but it typically involves meeting specific eligibility requirements, including having a U.S. credit history and proof of income. Researching lenders, preparing necessary documentation, and understanding the terms will help facilitate the process.
What are installment loans?
In Canada, installment loans are a type of loan where the borrower receives a lump sum of money and repays it over a set period through regular, fixed payments. These payments typically include both principal and interest. Installment loans are commonly used for various purposes, including personal expenses, debt consolidation, and large purchases.
As an alternative, you can also take out a personal loan. Your possible expenses:
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 20,000 | 7.95% | 861 |
| 20,000 | 10.95% | 1,186 |
| 20,000 | 13.95% | 1,511 |
| 50,000 | 8.15% | 2,207 |
| 50,000 | 11.15% | 3,020 |
| 50,000 | 14.15% | 3,832 |
| 100,000 | 8.35% | 4,523 |
| 100,000 | 11.35% | 6,148 |
| 100,000 | 14.35% | 7,773 |
| 200,000 | 8.55% | 9,263 |
| 200,000 | 11.50% | 12,458 |
| 200,000 | 14.55% | 15,763 |
Who are loan agents?
Loan agents in Canada, also known as loan brokers or mortgage brokers, are professionals who help individuals and businesses obtain loans from financial institutions. They act as intermediaries between borrowers and lenders, providing expertise, advice, and assistance throughout the loan application process.
For how long can I get a personal loan in Canada?
5 to 7 years, this is ideal for larger loan amounts, such as major home renovations or significant purchases. Some lenders offer personal loans with terms up to 10 years for substantial loan amounts and borrowers with strong credit. These longer terms are less common but provide lower monthly payments.
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Details of companies offering the financial services:
Alpine Credits
Head office’s address: #310-10524 King George Boulevard, Surrey, BC V3T 2X2
Contact center: 1-800-587-2161
Web-site: https://alpinecredits.ca/
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
BHM Financial Group
Head office’s address: 1090 Avenue Pratt 1090 Avenue Pratt, Outremont, Montreal, QC
Contact center: 877-787-1682
Web-site: https://www.bhmfinancial.com
Canada West Mortgage
Head office’s address: 103-535 10 Ave SW Calgary, AB, T2R 0A8
Phone: 403 907 0845
Web-site: https://canadawestmortgage.ca/
Envision Financial - First West CU
Head office’s address: #200 - 19933 88th Avenue Langley, BC
Contact center: 888-597-6083
Web-site: https://www.envisionfinancial.ca/Personal/
Fairstone
Contact center: 800-995-2274
Web-site: https://www.fairstone.ca/
FastAction Finance
Contact center: 1-877-346-2274
Web-site: https://fastaction.ca
Icici Bank Canada
Head office’s address: Don Valley Business Park 150 Ferrand Drive, Suite 1200 Toronto
Phone: 888-424-2422
Web-site: http://www.icicibank.ca/
Swift code: ICICCATT
Stock code: ICBK
LendforAll
Web-site: https://lendforall.ca
Bank Of Montreal
Head office’s address: 119, rue Saint-Jacques Montreal, Quebec H2Y 1L6
Contact center: 877-225-5266
Phone: 416-867-5000
Web-site: http://www.bmo.com/main/personal
Swift code: BOFMCAM2
Stock code: BMO
BSB: 001
CIBC
Head office’s address: 199 Bay St, 44th Floor Toronto
Contact center: 800-465-2422
Web-site: https://www.cibc.com/en/personal-banking.html
Swift code: CIBCCATT
Stock code: CM
BSB: 010
GoDay
Contact center: 888-984-6329
Web-site: https://goday.ca
iCASH
Head office’s address: 372 Bertha St, Hawkesbury
Contact center: +1-844-419-2274
Web-site: https://icash.ca
Lendigo
Head office’s address: 7980 14e Ave Montreal (Québec) H1Z 3L8
Contact center: 514-210-6192
Web-site: https://lendigo.ca
Lendtoday
Head office’s address: 179 King St E, Oshawa, ON L1H 1C2
Phone: 1-855-242-7732
Web-site: https://www.lendtoday.ca/
LoanConnect
Head office’s address: 379 Dundas St #217, London
Contact center: (855) 936-5626
Web-site: https://loanconnect.ca
Loans Canada
Head office’s address: Canada 170-1201 University Ave, Toronto, ON, M5H
Contact center: 1 (877) 995-6269
Web-site: https://loanscanada.ca/
Magical Credit
Web-site: https://www.magicalcredit.ca
Mogo
Web-site: https://www.mogo.ca
National Bank
Head office’s address: 600 Gauchetiere St W, 4th Floor, Montreal
Contact center: 888-483-5628
Phone: 844-394-4494
Web-site: https://www.nbc.ca/en/personal.html
Swift code: BNDCCAMMINT
Stock code: NA
BSB: 006
Scotiabank
Head office’s address: Scotia Plaza, 44 King Street West Toronto
Contact center: 800-472-6842
Phone: 416-866-6430
Web-site: http://www.scotiabank.com/ca/en/0,,2,00.html
Swift code: NOSCCATT
Stock code: BNS
BSB: 002
SkyCap Financial
Head office’s address: 1020 Bayridge Dr. #104, Kingston
Contact center: (877) 924-4557
Web-site: https://skycapfinancial.ca
Spring Financial
Head office’s address: 555 Burrard St #505, Vancouver, BC V7X 1M8
Web-site: https://www.springfinancial.ca/
Title Loans online
Contact center: 1-800-455-3997
Web-site: https://www.titleloansonline.ca
TD Bank
Head office’s address: Toronto-Dominion Centre, Po Box 1 Stn Toronto Dom, Toronto
Contact center: 866-222-3456
Web-site: https://www.td.com/about-tdbfg/our-business/index.jsp
Swift code: TDOMCATTTOR
Stock code: TD
BSB: 004
Vancity Savings Credit Union
Head office’s address: 183 Terminal Avenue, Vancouver, British Columbia
Contact center: 868-225-4828
Phone: 604-877-7000
Web-site: https://www.vancity.com/