Independent head-to-head comparison of APR, loan limits, credit requirements and funding speed for two Canadian lenders.
Canada's largest bank by market capitalization offering competitive mortgages, personal lines of credit, and debt consolidation loans.
Visit RBC Royal BankMajor Canadian lender offering fast approvals, Pace It installment plans, and flexible personal borrowing options.
Visit CIBC| Feature | RBC Royal Bank | CIBC |
|---|---|---|
| Lowest APR | 5.14% | 5.14% |
| Highest APR | 11.99% | 12.99% |
| Min Loan | $5,000 | $3,000 |
| Max Loan | $1,500,000 | $1,500,000 |
| Min Credit Score | 660 | 640 |
| Funding Time | 24-48 hours | Same day to 48 hours |
| Loan Types | mortgage, personal, debt_consolidation, auto, 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 |
RBC Royal Bank starts at 5.14% 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.
RBC Royal Bank typically requires a minimum credit score of 660. 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.
RBC Royal Bank 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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