The table below shows a snapshot of Fairstone personal loan options. Fairstone offers many flexible loan options suitable for a wide range of purposes. These are some reasons why Canadians make Fairstone their lender of choice and why it might be right for you.
How much will a loan from Fairstone cost? Use the Fairstone personal loan calculator below to discover your estimated monthly repayments. Input your desired loan amount and loan term (length) and adjust accordingly until you see something that suits your budget.
| Terms from 1 to 5 years. Representative example: 5 year $10,000 loan with comparison rates from 7.99% to 46.96% APR would cost between $12,163 and $26,087, including fees. The interest can vary between $2,163 and $16,087. |
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Financial products from Fairstone include secured and unsecured personal loans for purposes such as debt consolidation, car repairs, weddings, vacations, and other major life events.
Fairstone loan features
Fairstone personal loans come with the following features and benefits:
- Loan amounts. Between $500 and $20,000 for unsecured loans and $5,000 and $50,000 for secured loans.
- Loan terms. Ranges from 6 to 60 months for unsecured loans and 35 to120 months for secured loans.
- Fixed interest rates. Fairstone only offers fixed interest rates, meaning your interest rate and payments stay the same over the length of the loan.
- Payment frequency. You can make repayments bi-weekly, semi-monthly, or monthly.
- Free loan quote. Get a personalised, no-obligation quote that won’t affect your credit score.
- Prepayment penalties. There’s no early repayment fee attached to unsecured loans, though you’ll have to pay this fee if you choose a secured loan.
- Turnaround times. If you apply online, you can have the money within 24 hours though this depends on the type of loan.
How to apply for a Fairstone personal loan?
You can apply for a Fairstone personal loan in three short steps:
- Get a personalised loan quote. Enter your details and get the quote in minutes.
- Talk to a lending specialist. A Fairstone lending specialist will then get in touch to customise your loan details.
- Finalise the application. Submit the required documents online or in-branch to receive money in your bank account.
Check that you’re eligible:
To qualify for a Fairstone loan, you must:
- Be at least 18 years of age or the age of majority in your province
- Be a Canadian citizen or permanent resident
- Have a bank account
- Meet the minimum requirements for income and credit score
The minimum income and credit score required will depend on the loan amount you’re seeking.
What you’ll need:
In addition to your personal and contact information, you will also need the following documents:
- Personal identification.
- Employment and income verification. You’ll need to provide your most recent pay stub, together with the latest T4/T4a and Canada Pension Plan (CPP). If you’re self-employed, you’ll need a CRA Notice of Assessments worth two years as well as a licence and bank statement showing the business name.
- Housing information. You may need documents such as rent receipt or current balance depending on whether you want to verify your rent or mortgage.
Fairstone FAQs
What are the credit score requirements when applying for a Fairstone loan?
Faistone typically caters to borrowers with fair, good, and excellent credit scores.
How long does it take for Fairstone to approve and pay out the loan?
Once you finalise the application process, you could have the money in your account within 24 hours.