Fairstone
Personal loans from $500 to $60,000, competitive interest rates, quick funding—plus, payment freeze until March 2026 for new borrowers. Simple application, no impact on your credit.
Fairstone offers personal loans for Canadians ranging from $500 to $60,000. Interest rates for unsecured personal loans typically range from 29.99% to 34.99%, with terms between 6 and 60 months. For secured loans, rates are usually a bit lower, starting at 19.99%. If you apply for and take out a personal loan by January 31, you can freeze your payments until March 2026—great for those who want short-term financial relief. Applying online is quick and, best of all, getting a quote doesn’t impact your credit score.
How to Apply: Step-by-Step
- Start your application online with your basic information and desired loan amount.
- Receive an instant response with your prequalification and estimated payment options.
- Finalize your application online or visit a local branch if you prefer in-person service.
- Once approved, receive your funds, often in as little as 24 hours.
Vorteile
One standout advantage is the ability to freeze your loan payments until March 2026, giving you room to manage your finances before starting repayment. The application process is user-friendly, requires minimal documentation, and can be completed entirely online or in person, depending on your preference. Additionally, Fairstone is a recognized lender with nearly 100 years of experience and 250 branches across Canada.
Nachteile
The biggest downside is the high interest rates for unsecured loans, which are higher than those of traditional banks. For those with weaker credit profiles, the rates might not be ideal, though the option to use home equity for lower rates can help.
Urteil
Fairstone personal loans stand out for their speed, flexibility, and generous payment freeze offer. While rates are on the high side for unsecured loans, the company’s reputation and the convenience of fast online approvals may be worth it for borrowers needing quick access to funds. Ideal for those seeking a streamlined solution with options to consolidate debt, finance a purchase, or cover emergency expenses, especially if you benefit from the payment deferral feature.
