BMO Bank of Montreal – Personal Loan

BMO Bank of Montreal is one of Canada's Big Five banks, founded in 1817 and headquartered in Toronto. With over 12 million customers and more than 900 branches across the country, BMO is a full-service financial institution offering banking, investment, and lending products to individuals, families, and businesses. BMO personal loans are available to both existing customers and new applicants across all Canadian provinces.

BMO personal loans range from $1,500 to $35,000 with repayment terms from 1 to 7 years. The application can be completed online, by phone, or at any BMO branch. Interest rates are fixed for the life of the loan, ensuring your monthly payment never changes. Existing BMO chequing account holders can often receive a decision within minutes online; funds are typically deposited within 1-2 business days. BMO also offers an optional credit protection insurance add-on for eligible borrowers.

BMO is regulated by the Office of the Superintendent of Financial Institutions (OSFI) and deposits are insured by the Canada Deposit Insurance Corporation (CDIC) up to $100,000 per insured category. Before applying, check whether BMO's online pre-qualification tool is available in your region, as it allows you to see your estimated rate without a hard credit inquiry impacting your credit score.