Personal Loans in Canada

CIBC

CIBC Education Line of Credit

A student line of credit for post-secondary education expenses. Confirm the current limit and repayment conditions directly with CIBC.

Institution

Accredited Canadian university, college or trade school.

Repayment

Interest-only during school and 12 months after graduation, or six months after leaving without graduating.

Full-time undergraduate annual limit

CAD 20,000.

Program limit

CAD 80,000 recommended limit.

CIBC

CIBC Personal Line of Credit

Reusable personal borrowing for everyday expenses or larger purchases. Interest applies to the funds used.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

CIBC

CIBC Professional Edge Student Program

Student financing for eligible professional education programs. Limits and conditions depend on the program of study.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Libro Credit Union

Emergency Fund Line of Credit

Personal revolving borrowing intended for unexpected expenses. Ask a Libro Coach about eligibility, limits and repayment arrangements.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Fairstone

Fairstone Secured Personal Loan

Personal borrowing secured by home equity. An initial quote is described as no-obligation, but later lending checks and the final agreement require confirmation.

Collateral

Home equity.

Initial quote

No obligation and no credit impact stated for the quote only.

Fees and term

Not confirmed.

Loan range

CAD 5,000 to CAD 50,000.

Lendful

Lendful Personal Loan

Online unsecured personal loans for debt consolidation and large expenses.

Affinity Credit Union

Line of Credit

Credit connected directly to a chequing account, providing a cushion when the account would otherwise fall below zero. Confirm secured or unsecured terms.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Account connection

Connected directly to chequing and described by the provider as sometimes referred to as overdraft protection.

DUCA Credit Union

Lines of credit

Apply once for reusable access to approved credit. Interest applies only to the amount used.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Revolving personal borrowing up to a predetermined limit. Confirm your approved limit, rate and membership requirements.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Newfoundland & Labrador Credit Union

Lines of Credit

Personal credit for unexpected expenses and other borrowing needs, with interest on the amount used. Confirm membership and lending requirements.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

UNI Coopération financière

Marge de crédit personnelle

Personal revolving credit with a variable interest rate and flexible repayment. The official product information linked here is in French.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

National Bank of Canada

National Bank Student Line of Credit

Student revolving credit for eligible education expenses. Confirm program requirements, interest payments and repayment timing.

Principal repayment

When starting a full-time job or 12 months after full-time studies end.

While studying full time

Monthly interest only.

Annual requirement

Branch visit to update the file; limit may be reviewed.

Eligibility

Full-time or part-time post-secondary student; Canadian citizen or permanent resident.

ATB Financial

New to Canada Line of Credit

A personal line of credit designed for eligible permanent residents newly arrived in Canada. Confirm residence, income and lending conditions.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Credit limit

Up to CAD 10,000, subject to approval and eligibility.

Northern Credit Union

Northern line of credit

Personal borrowing for flexible credit needs. Confirm availability, security requirements, rate and repayment conditions with Northern.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

National Bank of Canada

Personal Flex Line

Personal revolving borrowing with a variable rate based on the borrower credit profile. Confirm your limit and applicable conditions.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Kawartha Credit Union

Personal Line

Flexible ongoing borrowing with access to funds and reuse of available credit. Confirm the current limit, rate and payment conditions.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Prospera

Personal line of credit

Unsecured revolving personal borrowing with interest on the amount used. Prospera is a brand in the Coast Capital family; confirm current servicing and eligibility.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Minimum payments

Interest-only monthly payments; some or all of the balance may be repaid at any time.

Minimum credit limit

CAD 5,000 or more

FirstOntario Credit Union

Personal line of credit

Reusable access to money up to an approved limit, with secured and unsecured options. Confirm the applicable rate and payment terms.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

East Coast Credit Union

Personal line of credit

Flexible personal borrowing within an approved limit. Confirm residence, membership, payment and security requirements.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Coast Capital Savings

Personal Line of Credit

Reusable personal credit for larger expenses. Interest applies to the amount used; approval and the rate depend on your risk profile.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

ATB Financial

Personal Line of Credit

Reusable personal credit with flexible draw and repayment. Interest applies to the amount borrowed.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Cambrian Credit Union

Personal Line of Credit

Unsecured personal revolving credit. Cambrian states that another Cambrian product, such as a mortgage, is not required to qualify.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Security

Unsecured: a home or other pledged asset is not required.

Innovation Federal Credit Union

Personal Line of Credit

A line of credit linked to chequing with interest on funds used. Membership and borrower eligibility requirements apply.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Membership

New members must purchase a CAD 5 membership share.

Eligibility

Canadian resident excluding Quebec, age 18 or older, with a credit score of 640 or greater, as listed by the provider.

Your Neighbourhood Credit Union

Personal Line of Credit

Flexible reusable personal credit with interest on the amount used. Ontario residence requirements apply.

Provincial availability

Ontario

Desjardins

Personal Line of Credit

Pre-authorized personal credit for short-term costs, purchases and unexpected expenses. Confirm your rate, limit and repayment requirements.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Affinity Credit Union

Quick Loan

A revolving credit alternative that is not connected directly to chequing. Repaid credit can be used again without a new application.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Account connection

Not connected directly to chequing. Funds can be moved using online or mobile banking. Repaid credit becomes available again.

Conexus Credit Union

QuickLine

Reusable personal credit with no fixed term and interest on the amount used. Confirm payment options and security requirements.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Repayment

Fixed principal-and-interest payments or interest-only payments may be available, subject to conditions.

Prepayment

No prepayment penalty; the balance can be paid down at any time.

RBC Royal Bank

RBC Personal Loan

Lump-sum borrowing with a set repayment schedule and a choice of payment frequencies. Early repayment is available without penalties.

Payment frequency

Weekly, biweekly, semi-monthly or monthly.

Rate structure

Fixed or variable.

Prepayment

No early payment penalties.

Minimum loan

CAD 5,000.

RBC Royal Bank

Royal Credit Line

Reusable personal borrowing with secured and unsecured options. Confirm your applicable rate, limit and repayment requirements.

Repayment

Interest-only payments and flexible schedules available.

Withdrawal fee

No fee to withdraw funds.

Structure

Revolving line of credit, not an instalment loan.

Minimum unsecured limit

CAD 5,000.

RBC Royal Bank

Royal Credit Line for Students

Student revolving credit for eligible post-secondary programs. Credit limits and repayment arrangements depend on the program.

Interest basis

Interest charged only on borrowed funds.

Co-signer

May be required for limited credit history or study outside Canada.

Requirements

Enrolment confirmation, cost estimate and financial-resource information.

Minimum limit

CAD 5,000.

Scotiabank

Scotia Plan Loan

Structured borrowing for larger purchases or consolidating higher-interest balances. Fixed or variable interest and penalty-free early repayment are listed.

Payments

Weekly, biweekly or monthly.

Prepayment

No prepayment penalties.

Term

Up to five years.

Rate structure

Fixed or variable.

Scotiabank

Scotia Professional Student Plan Line of Credit

A line of credit for eligible professional students. Available limits and repayment arrangements depend on program eligibility.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Scotiabank

ScotiaLine Personal Line of Credit

Revolving personal credit with flexible access and repayment. This listing is for the personal product, not its real-estate-secured counterpart.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Scotiabank

ScotiaLine Personal Line of Credit for Students

Revolving credit for eligible post-secondary students. Confirm in-school payments and when principal repayment begins.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Spring Financial

Spring Financial Personal Loan

Online personal loans from a non-bank lender, including options for people rebuilding credit.

ATB Financial

Students First Line of Credit

Student borrowing for eligible undergraduate, certificate or diploma studies. Limits and repayment arrangements vary with the program.

Provincial availability

Not confirmed. Ask the provider about residence and membership requirements.

Credit limit

Up to CAD 60,000, or CAD 15,000 per year, for undergraduate studies. Limits depend on the program.

Repayment

The provider lists a 12-month grace period after graduation. Confirm interest payments and other conditions.

TD Canada Trust

TD Home Equity FlexLine

Home-equity borrowing for larger expenses such as renovations. The home supports the borrowing and is at risk if obligations are not met.

Fees

Not confirmed.

Borrowing ceiling

Up to 80% of home value; not a statement that the full amount is revolving credit.

Collateral

Home equity.

Minimum payment

Interest-only minimum payments displayed.

TD Canada Trust

TD Personal Line of Credit

Reusable personal credit for unexpected expenses. Confirm your approved limit, rate and repayment requirements with TD.

Minimum limit

CAD 5,000.

Rate structure

Variable, with a fixed-rate option for all or part of the balance.

Funding speed

Not confirmed.

Structure

Revolving credit.

TD Canada Trust

TD Personal Loan

Borrowing for large purchases or consolidating debt, with fixed or variable interest options. Compare total repayment and fees with the debts being replaced.

Term

One to seven years.

Rate structure

Fixed or variable.

Uses

Large purchases and debt consolidation.

Minimum loan

CAD 2,000.

TD Canada Trust

TD Undergraduate Student Line of Credit

Student borrowing for eligible undergraduate education expenses, with repayment arrangements designed around studies.

Annual limit

Up to CAD 20,000.

Co-signer

Required for college or undergraduate applicants.

Overall limit

Up to CAD 80,000, subject to program conditions.

Repayment

Interest-only while studying; principal deferred until 24 months after leaving school.