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 MontrealCanada's top consumer fintech lender specializing in credit building, personal loans, and debt consolidation for all credit tiers.
Visit Spring Financial| Feature | BMO Bank of Montreal | Spring Financial |
|---|---|---|
| Lowest APR | 4.99% | 9.99% |
| Highest APR | 11.95% | 29.99% |
| Min Loan | $5,000 | $500 |
| Max Loan | $1,500,000 | $35,000 |
| Min Credit Score | 650 | 500 |
| Funding Time | 24-48 hours | Same day (Interac e-Transfer) |
| Loan Types | mortgage, personal, debt_consolidation, business | personal, debt_consolidation, auto |
| Provinces | ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU | ON, BC, AB, MB, SK, NS, NB, NL, PE, NT, YT |
BMO Bank of Montreal starts at 4.99% APR while Spring Financial starts at 9.99%. 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.
Spring Financial typically funds in Same day (Interac e-Transfer) 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. Spring Financial serves ON, BC, AB, MB, SK, NS, NB, NL, PE, NT, YT. Province availability is a hard requirement — verify before applying.
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