Here’s how CIBC stacks up against other popular lenders providing the best personal loans in Canada:
CIBC vs. easyfinancial
easyfinancial is a Canadian company that specializes in personal loans with quick approval. easyfinancal offers loans as small as $500, whereas CIBC loans start at $3,000. However, loans with easyfinancial top out at a maximum of $100,000 compared with CIBC’s $200,000 limit. Because easyfinancial caters to people with poor-to-fair credit, you’re more likely to be approved with this company than with CIBC, but you’re likely to pay a much higher interest rate. Loans with easyfinancial start at 29.99%, which is much higher than most credit cards and multiple times higher than CIBC’s prime rate of 7.20%.
CIBC vs. Fairstone
Fairstone is another personal loan company that allows Canadians to borrow money for almost any reason. The minimum loan size is…
