What are the minimum requirements to qualify for a personal loan?

The minimum requirements vary from lender to lender but most will require that you meet these standards to qualify for a personal loan.

  • Be at least the legal age of majority for your province (which is 19 years old in most provinces.
  • Have a valid government-issued ID.
  • Have a specific minimum credit score.
  • Have a valid Canadian address and proof of this address.
  • Have a steady income or proof of employment.
  • Submit bank statements.
Aug 13 - Comparewise Personal Loan Banner

Read other Q&As

BlogBrandsCards
How to Use a Wealthsimple Trade Referral Code
How to use Wealthsimple Referral Code
How to Pay Off Debt
How to Make Money in Canada
How to Save on Subscriptions

Meridian
CIBC
Refresh Financial
Loanz
Smarter Loans
LendingMate
Loanconnect
goPeer
Mogo Card
Tangerine World Mastercard
National Bank World Mastercard
Koho Prepaid Mastercard
Neo Reward Credit Card
Refresh Financial Secured Credit Card
National Bank Allure Mastercard

comparewise

Didn’t find an answer to your questions?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!