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 BankScotiabank's direct banking subsidiary offering straightforward, transparent mortgages, lines of credit, and savings products.
Visit Tangerine Bank| Feature | RBC Royal Bank | Tangerine Bank |
|---|---|---|
| Lowest APR | 5.14% | 4.94% |
| Highest APR | 11.99% | 8.49% |
| Min Loan | $5,000 | $10,000 |
| Max Loan | $1,500,000 | $1,000,000 |
| Min Credit Score | 660 | 670 |
| Funding Time | 24-48 hours | 24-72 hours |
| Loan Types | mortgage, personal, debt_consolidation, auto, 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 |
RBC Royal Bank starts at 5.14% 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.
RBC Royal Bank typically requires a minimum credit score of 660. 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.
RBC Royal Bank 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.
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