Comparing 9 offers. Updated April 8, 2026.
TD Bank is Canada's second-largest bank offering competitive personal loans with flexible terms and fast online approval.
RBC Royal Bank is Canada's largest bank offering personal loans with competitive rates and a fully digital application process.
Scotiabank offers flexible personal loans with competitive rates, optional payment protection insurance, and a fast online application process.
BMO Bank of Montreal offers personal loans with a fast online process, fixed monthly payments and no hidden fees.
CIBC offers personal loans and home equity solutions with high loan amounts up to $200,000 and competitive fixed rates.
Fairstone specializes in personal loans for Canadians with fair-to-good credit, offering fast approval and flexible repayment options.
Manulife Bank offers competitive personal loans and lines of credit with a unique all-in-one banking approach.
Tangerine is Canada's leading digital bank offering personal loans with no fees, a fully online process, and competitive fixed rates.
Spring Financial offers personal loans with a focus on helping Canadians build credit, including options for those with poor credit history.
A personal loan is an unsecured loan that you can use for almost any purpose — debt consolidation, home renovation, medical expenses, or major purchases. In Canada, personal loans are available from banks, credit unions, and online lenders.
Major Canadian banks including TD Bank, RBC, Scotiabank, BMO, and CIBC offer personal loans alongside online lenders like Fairstone and Spring Financial.
Most lenders require a credit score of 650 or higher, verifiable income, and Canadian residency. Non-bank lenders like Fairstone may accept scores as low as 550.
Personal loans in Canada can be used for almost any purpose including debt consolidation, home renovations, vehicle purchases, medical bills, or emergency expenses.