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.

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