BMO Bank of Montreal – Personal Loan
BMO Bank of Montreal offers personal loans with a fast online process, fixed monthly payments and no hidden fees.
Applying does not obligate you to accept a loan offer.
BMO Personal Loan – 2025 Review
BMO Bank of Montreal is one of Canada's Big Five banks with over 900 branches. BMO personal loans feature fixed rates, predictable monthly payments, and a transparent fee structure.
BMO Loan Products
BMO offers personal loans, BMO Homeowner Line of Credit, and student lines of credit. Personal loan amounts go up to $35,000.
No Hidden Fees
BMO is known for transparency — no origination fees, no application fees, and no prepayment penalties. What you see is what you get.
✓ Pros
- No hidden fees
- Transparent pricing
- Reliable Canadian institution
- Fixed payments for budgeting
✗ Cons
- Lower maximum amount ($35,000)
- Slightly higher starting APR
- May need existing BMO account
Loan Example
Example: $7,500 loan for 48 months at 10.49% APR = monthly payment of $192.26, total payable $9,228.48.
Eligibility Requirements
- ✓ Age 18+ years
- ✓ Canadian citizen or PR
- ✓ Minimum income $20,000/year
- ✓ Credit score 640+
- ✓ Valid government-issued ID
Loan Features
- No hidden fees or origination fees
- Fixed monthly payments
- No prepayment penalty
- Fast online application
- Canada's oldest bank founded 1817
Frequently Asked Questions
2-3 business days after submitting your application.
The minimum amount at BMO Bank of Montreal is $1,500 CAD.