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 MontrealLeading Canadian digital bank known for ultra-low mortgage rates, zero monthly account fees, and high-interest savings.
Visit EQ Bank| Feature | BMO Bank of Montreal | EQ Bank |
|---|---|---|
| Lowest APR | 4.99% | 4.79% |
| Highest APR | 11.95% | 7.99% |
| Min Loan | $5,000 | $50,000 |
| Max Loan | $1,500,000 | $2,000,000 |
| Min Credit Score | 650 | 680 |
| Funding Time | 24-48 hours | 3-5 business days |
| Loan Types | mortgage, personal, debt_consolidation, business | mortgage |
| Provinces | ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU | ON, BC, AB, QC, MB, SK, NS, NB, NL, PE |
BMO Bank of Montreal starts at 4.99% APR while EQ Bank starts at 4.79%. 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.
EQ Bank typically funds in 3-5 business days 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. EQ Bank serves ON, BC, AB, QC, MB, SK, NS, NB, NL, PE. Province availability is a hard requirement — verify before applying.
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