Part of Personal Loans
An instalment loan provides a fixed amount repaid through scheduled payments. It can suit a defined purchase when you want a repayment structure. Compare amount, rate, fees and total repayment rather than the advertised monthly payment alone.
Compare the 3 listed products below. Open a product for its terms and source links. Missing terms are not confirmed.
RBC Royal Bank
Lump-sum borrowing with a set repayment schedule and a choice of payment frequencies. Early repayment is available without penalties.
Scotiabank
Structured borrowing for larger purchases or consolidating higher-interest balances. Fixed or variable interest and penalty-free early repayment are listed.
TD Canada Trust
Borrowing for large purchases or consolidating debt, with fixed or variable interest options. Compare total repayment and fees with the debts being replaced.
Compare payment frequency, interest, charges and optional insurance separately. Longer repayment can increase interest even when each payment falls.
Missed payments may create extra costs and damage credit. Variable-rate payments or costs can change, so confirm which rate structure applies.
Lenders may refer to personal loans as instalment loans, consumer loans or long-term financing plans.
Request the interest rate, all fees and the total amount repayable.
Check payment frequency, early repayment rules and missed-payment consequences.
Confirm whether collateral is required and which eligibility checks apply.
An advertised rate is not necessarily the rate you will qualify for. Secured borrowing puts collateral at risk.
Confirm current fees, rates and eligibility directly with the provider. Product terms can change over time. A listed product is not a recommendation or a promise of approval.
Availability must be confirmed for your province or territory. If product-specific location or eligibility information is missing, it is not confirmed.
For further guidance, visit Financial Consumer Agency of Canada.
This is general information, not personalized advice. Read our editorial policy and affiliate disclosure.
Finvilo