Independent head-to-head comparison of APR, loan limits, credit requirements and funding speed for two Canadian lenders.
Canada's international bank and leader in flexible borrowing through the Scotia Total Equity Plan (STEP) and variable mortgages.
Visit ScotiabankLongstanding Canadian responsible lending institution providing secured and unsecured personal loans through online and 240+ retail branches.
Visit Fairstone Bank of Canada| Feature | Scotiabank | Fairstone Bank of Canada |
|---|---|---|
| Lowest APR | 5.09% | 14.99% |
| Highest APR | 12.25% | 31.99% |
| Min Loan | $5,000 | $1,000 |
| Max Loan | $1,750,000 | $50,000 |
| Min Credit Score | 660 | 550 |
| Funding Time | 2-3 business days | 24-48 hours |
| Loan Types | mortgage, personal, debt_consolidation, auto, business | personal, debt_consolidation, auto, mortgage |
| 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 |
Scotiabank starts at 5.09% APR while Fairstone Bank of Canada starts at 14.99%. 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.
Scotiabank typically requires a minimum credit score of 660. Below that, consider alternative lenders that specialize in credit-challenged borrowers.
Fairstone Bank of Canada typically funds in 24-48 hours after final approval. Same-day funding usually requires e-transfer-eligible accounts and document approval before cutoff.
Scotiabank serves ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT, NU. Fairstone Bank of Canada serves ON, BC, AB, QC, MB, SK, NS, NB, NL, PE, NT, YT. Province availability is a hard requirement — verify before applying.
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