Best Personal Loan site in Canada

 What is a personal loan?

    A personal loan is an amazing borrowing solution, quite popular in fact. It enables individuals to get whatever they want. Why is that? Simply because it was designed to cover a wide range of goals, like traveling, making home renovations, purchasing a vehicle, paying for education, and more.

    Due to its flexibility, many individuals resort to it to realize their dreams. Since it is quite a catch, many banks offer it. Thus, you will find that most of Canada’s financial institutions count on personal loans to help customers get what they want.

    Let’s compare some personal loans from different banks to see which one is perfect for you.

    HSBC Personal Loan

    HSBC Bank allows customers to purchase a new vehicle, to renovate their homes, to pay off debts, to take a vacation, and to pay for education. These are a lot of goals just in one loan. What you can expect from this loan is that:

• It provides amazing competitive rates.
• It provides repayment terms of one to five years.
• Customers can make payments every week, every two weeks, and every month.

    Rates

    As regards the interest rates, this bank has to offer two options for customers to choose. One of them is the variable rate and the other one is the fixed rate. The first one implies that each payment would not be exactly the same as the previous one because rates will fluctuate. In that case, you can benefit whenever interests go down. On the other hand, the fixed rate states that all payments would be the same during the whole debt since rates will not fluctuate. Customers can choose one of these two options.

    Applying for this loan

    Anyone who meets the following criteria can apply for this loan:

    1. The individual has to be 18 years (at least) to access this borrowing solution.

    2. The individual has to be a Canadian, living in there.

    3. The individual has to provide personal and financial information.

    4. The individual has to allow HSBC Bank get access to this person’s credit report.

    How can anyone apply for it?

    Customers count on many ways to apply for this loan. One way is to do it by approaching to the nearest branch. They just have to enter a location on its website and you will get the desired results. If this is not what you need, you can always count on a phone number. There is a toll-free number that you can dial which is 1-888-310-4722. The last option is to apply by completing an online form. Customers have to provide personal information as well as financial information. At the end, they have to agree with the loan conditions.

    PC Financial Personal Loan

    This financial institution has designed this loan to allow customers consolidate their debts, to purchase a vehicle or anything that you can imagine.

    This loan provides excellent features so customers feel comfortable with it:

• Customers will not have to face any penalty because of prepayments.
• Customers interested in this loan should know that they can borrow up to $50,000.
• There is no need of a collateral with this loan.
• It offers amazing competitive rates.
• Customers count on Optional Creditor Insurance.

    Rates

    Customers can choose between a fixed rate loan or a variable rate loan. The fixed rate loan deals with rates that do not fluctuate all the time. That means that customers will have to make the same payment throughout the whole debt. It is important to mention that rates depend on customers’ credit position. The variable rate loanimplies that each payment will be different from the previous one because rates fluctuate all the time. When rates go up, customers have to pay more. However, they can really benefit whenever rates go down. Just like the fixed rate loan, the rate of this kind of loan depends on customers’ credit position and the prime. To know more about any of the rates (fixed or variable), customers have to dial 1-888-723-8881.

    How can anyone apply for it?

    Anyone interested in this solution should approach to the nearest PC Financial pavilion to get in contact with a representative and know more about Personal loans. This way of applying works only for people who are not part of PC Financial. Those who are part of PC Financial need to apply online by signing in or by making a phone call to this number 1-888-723-8881.

    Laurentian Bank Personal Loan

    This bank offers a borrowing solution to realize a specific project, like renovations in a home, a trip, a vehicle, or anything else. Just like any other personal loan, Laurentian Bank offers this solution for anyone who is in need.

    This loan has several characteristics that customers can enjoy:

• Customers can borrow $3,500 as a minimum amount.
• Customers count on terms that go from a year to ten years. This will depend on the borrowed amount.
• No penalty will be charged for paying before term.

    Rates

As PC Financial and HSBC Bank, Laurentian Bank offers a variable and fixed interest rate. This rate will depend on the loan amount and the term that each customer has chosen. The fixed interest rate is made for customers who are not comfortable with rate fluctuations. That way, they can make the same payment during the debt. The variable interest rate is subject to fluctuations every month, and as a result, payments will not be the same.

    How can anyone apply for it?

    This bank offers the chance to get in contact with an advisor through telephone, mail, email, and by approaching to a Laurentian Bank branch.

    As you can see, all banks offer more or less the same personal product with the same rates. All of them grant customers the possibility of making their own choices. You just have to analyze them carefully and make up your mind.