What is the current interest rate for a personal loan?

The interest rate on a personal loan varies according to a number of factors, including the Bank of Canada's prime rate, your current financial situation, your credit score and more.

Which is the best bank for a personal loan?

There's no such thing as the best bank for a personal loan. But, be aware that there are several types of lenders, such as traditional banks and alternative lenders. But, also, personal financing products. Each lender has its own eligibility criteria for personal loans.

Which bank is the easiest to get a loan from?

Each bank has its own eligibility criteria for personal loans. Some banks are more flexible than others. What's more, if you pledge an asset as collateral, banks will generally be more flexible in granting you a personal loan.

How much can I borrow for a personal loan?

The amount you can borrow for a personal loan varies according to several factors. If you opt for an unsecured loan, you can borrow a relatively small amount. Conversely, if you opt for a secured loan, you can borrow a much higher amount.

Vincent Morin

Vincent achieved financial independence and retired early (FIRE) at the age of 35. After a career in financial technologies for a large American investment bank, he founded Retraite101, a personal finance site that reaches more than 350,000 unique visitors per year and has more than 30,000 subscribers on social media. Passionate about personal finance, cycling, reading and gardening, he continues to write to inspire and motivate Quebecers to take charge of their finances.

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