Lovrax is an independent financial comparison platform. We may earn a commission when you click through.
Best Personal Loan Options for June 2026
Compare top personal loans for diverse needs and budgets
Quick Picks
Best overall: Scotiabank Personal Loan.
Best budget: Coast Capital Savings Personal Loan.
Best for bad credit: Fairstone Personal Loan.
Under 9% APR
These loans offer competitive rates for borrowers with good to excellent credit scores. They represent a smart choice for those who can secure lower interest rates and prioritize long-term savings over immediate cash needs.
Scotiabank Personal Loan
Scotiabank's starting APR of 6% is hard to beat for top-tier borrowers. You'd pick this if you value a major bank's reliability and have excellent credit. The trade-off: stringent eligibility criteria.
National Bank Personal Loan
National Bank offers strong rates, especially appealing for Quebec residents. What sets this apart: a robust branch network for in-person service. But there's a catch: you need a solid credit score.
Coast Capital Savings Personal Loan
Coast Capital's 7.99% APR is attractive, especially with no-fee banking. Worth considering because it's a no-fuss option for BC residents seeking simplicity. Just be aware of its limited geographical reach.
While these loans offer impressive rates, sometimes speed matters more than a low APR. Let's shift focus to options that prioritize quick approval and convenience.
Fast Approval Loans
When you need funds quickly, these lenders deliver. Ideal for emergency expenses or fast decision-making, these loans trade slightly higher rates for speed and convenience.
Mogo Personal Loan
Mogo's fast approval process stands out, with a soft credit check that doesn't impact your score. The draw here is speed, but be cautious of their high APR for riskier profiles.
TD Bank Personal Loan
TD Bank provides up to 7-year terms, allowing for manageable monthly payments. You'd choose this if flexibility in repayment is crucial, although rates vary widely based on credit.
Fig Financial Personal Loan
Fig Financial bridges the gap for those who don't qualify for the top rates but want better than average deals. Best for borrowers with fair credit seeking a mid-market option.
For those facing credit challenges, securing a loan can be daunting. However, some lenders offer viable options for those with less-than-perfect credit scores.
Loans for Bad Credit
These picks cater to those in need of financial assistance despite a challenging credit history. While the rates are higher, they offer a lifeline when traditional banks say no.
Fairstone Personal Loans
Fairstone's high starting rate of 29.99% makes it a last resort. However, it's worth considering for its extensive branch network and accessibility for those with bad credit.
goPeer Personal Loan
goPeer's P2P model offers a different route, potentially lower rates than traditional bad credit loans. Choose this if you're comfortable with peer-to-peer lending.
RBC Royal Bank Personal Loan
RBC Royal Bank might not be the cheapest, but it offers security and peace of mind for existing customers with decent credit.
Choosing a personal loan depends on your specific needs and financial situation. For those with excellent credit, Scotiabank offers unbeatable rates. If speed is your priority, Mogo's quick approval is hard to overlook. Meanwhile, Fairstone provides options for those with challenging credit. Evaluate your priorities and choose the loan that aligns best with your circumstances.
Rates and terms shown are representative. Your actual rate depends on your credit profile and circumstances. This is not financial advice — always read the lender's terms before applying.
