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 MontrealScotiabank's direct banking subsidiary offering straightforward, transparent mortgages, lines of credit, and savings products.
Visit Tangerine Bank| Feature | BMO Bank of Montreal | Tangerine Bank |
|---|---|---|
| Lowest APR | 4.99% | 4.94% |
| Highest APR | 11.95% | 8.49% |
| Min Loan | $5,000 | $10,000 |
| Max Loan | $1,500,000 | $1,000,000 |
| Min Credit Score | 650 | 670 |
| Funding Time | 24-48 hours | 24-72 hours |
| Loan Types | mortgage, personal, debt_consolidation, business | mortgage, personal |
| 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 Tangerine Bank starts at 4.94%. 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.
Tangerine Bank typically funds in 24-72 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. Tangerine Bank serves ON, BC, AB, QC, MB, SK, NS, NB, NL, PE. Province availability is a hard requirement — verify before applying.
Get matched to the best Canadian lender for your situation in under 60 seconds.