Independent head-to-head comparison of APR, loan limits, credit requirements and funding speed for two Canadian lenders.
Pioneer of the 130-day mortgage rate guarantee and specialized low-rate Smart Fixed mortgages.
Visit BMO Bank of MontrealMajor Canadian lender offering fast approvals, Pace It installment plans, and flexible personal borrowing options.
Visit CIBC| Feature | BMO Bank of Montreal | CIBC |
|---|---|---|
| Lowest APR | 4.99% | 5.14% |
| Highest APR | 11.95% | 12.99% |
| Min Loan | $5,000 | $3,000 |
| Max Loan | $1,500,000 | $1,500,000 |
| Min Credit Score | 650 | 640 |
| Funding Time | 24-48 hours | Same day to 48 hours |
| Loan Types | mortgage, personal, debt_consolidation, business | mortgage, personal, debt_consolidation, auto, student |
| Provinces | ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU | ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU |
BMO Bank of Montreal starts at 4.99% APR while CIBC starts at 5.14%. The cheapest option depends on your credit score, loan amount and term. Always compare your personalized APR offers — advertised rates are minimums for the strongest applicants.
BMO Bank of Montreal typically requires a minimum credit score of 650. Below that, consider alternative lenders that specialize in credit-challenged borrowers.
CIBC typically funds in Same day to 48 hours after final approval. Same-day funding usually requires e-transfer-eligible accounts and document approval before cutoff.
BMO Bank of Montreal serves ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU. CIBC serves ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU. Province availability is a hard requirement — verify before applying.
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