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.

Read other Q&As

• What is the average interest rate on a personal loan?
• What personal information is needed to get a personal loan?
• Can I pay off a personal loan quicker than the life of the loan?
• How do I get the money?
• How does a personal loan work?