Independent head-to-head comparison of APR, loan limits, credit requirements and funding speed for two Canadian lenders.
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Visit Loans Canada| Feature | BMO Bank of Montreal | Loans Canada |
|---|---|---|
| Lowest APR | 4.99% | 7.99% |
| Highest APR | 11.95% | 34.99% |
| Min Loan | $5,000 | $500 |
| Max Loan | $1,500,000 | $50,000 |
| Min Credit Score | 650 | 450 |
| Funding Time | 24-48 hours | 24-48 hours |
| Loan Types | mortgage, personal, debt_consolidation, business | personal, debt_consolidation, auto, business |
| 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 Loans Canada starts at 7.99%. 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.
Loans Canada typically funds in 24-48 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. Loans Canada 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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