TD Bank
TD Bank is Canada's second-largest bank offering competitive personal loans with flexible terms and fast online approval.
$2,000 CAD – $50,000 CAD
APR from 6.99%
Approval: 1-2 business days
Debt Consolidation – Simplify Your Payments
Comparing 7 offers. Updated April 10, 2026.
Best Offers – Debt Consolidation 2026
RBC Royal Bank
RBC Royal Bank is Canada's largest bank offering personal loans with competitive rates and a fully digital application process.
$1,000 CAD – $50,000 CAD
APR from 7.99%
Approval: 24 hours
Scotiabank
Scotiabank offers flexible personal loans with competitive rates, optional payment protection insurance, and a fast online application process.
$1,000 CAD – $50,000 CAD
APR from 7.49%
Approval: 1-3 business days
BMO Bank of Montreal
BMO Bank of Montreal offers personal loans with a fast online process, fixed monthly payments and no hidden fees.
$1,500 CAD – $35,000 CAD
APR from 8.49%
Approval: 2-3 business days
CIBC
CIBC offers personal loans and home equity solutions with high loan amounts up to $200,000 and competitive fixed rates.
$3,000 CAD – $200,000 CAD
APR from 8.99%
Approval: 1-2 business days
Fairstone
Fairstone specializes in personal loans for Canadians with fair-to-good credit, offering fast approval and flexible repayment options.
$500 CAD – $50,000 CAD
APR from 19.99%
Approval: 24 hours
Tangerine
Tangerine is Canada's leading digital bank offering personal loans with no fees, a fully online process, and competitive fixed rates.
$1,000 CAD – $35,000 CAD
APR from 9.49%
Approval: 24-48 hours
Debt consolidation means combining multiple debts into a single loan with one monthly payment, often at a lower interest rate. It can simplify your finances and reduce total interest paid.
Is Debt Consolidation Right for You?
Debt consolidation makes sense if you have multiple high-interest debts (credit cards, payday loans) and can qualify for a lower-rate personal loan. A $15,000 consolidation loan at 10% APR can save thousands compared to carrying credit card balances at 19.99%.