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Fairstone Personal Loan (Unsecured) Review

Unsecured personal loans can serve as quick fixes for your short-term financial concerns.

Fairstone offers unsecured personal loans that can be used to finance passion projects, mounting bills and more. You can take out a loan of anywhere from $500 to $25,000, without putting up any collateral. If you know you have an unusual cost on the horizon, consider an unsecured personal loan from Fairstone.

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26.99% - 39.99%

Interest Rate


Max. Loan Amount


Min. Credit Score


Product NameFairstone Personal Loan (Unsecured)
Benefit DescriptionMin. credit score: 560
Interest Rate26.99% - 39.99%
Min. Loan Amount$500
Max. Loan Amount$25,000
Loan Term6 - 60 months
Turnaround TimeWithin 24 hours
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Main points to consider with a Fairstone Personal Loan (Unsecured)

Unsecured personal loans can be taken out for terms of between 6 months and 5 years. The minimum loan amount is $500, while the maximum amount is $25,000.

As the loans are unsecured, interest rates tend to be quite high. Interest rates vary from 26.99% - 39.99%.

Features of an unsecured loan from Fairstone

  • Interest rates between 26.99% and 39.99%. Interest rates are dictated by your credit score and a few other factors.
  • Flexible loan size. You can apply for an unsecured loan for an amount of $500 to $25,000. This gives you the flexibility to cover expenses of varying sizes.
  • Loan terms. You can opt to repay your loan over a period of 6 - 60 months.
  • Repayment installment options. Fairstone offers bi-weekly, semi-monthly and monthly repayment plans. You can setup automatic payments to come out of your bank account on a day that’s convenient for you, automatically and can round-up payments to clear debt faster.
  • Access to funds. Once you are approved for a loan, you should have access to the funds within one business day.
  • 14 day cancellation. You have 14 days to cancel an unsecured loan without incurring any fees.
  • Fairstone loan calculator. You can quickly generate a loan quote online, by inputting your details into the Fairstone calculator. This is free and will not impact your credit score.
  • In branch application. Once you apply for an estimate, you’ll be contacted by a Fairstone representative who will walk you through the application process. You’ll have to bring documents to your local branch before gaining final approval. You may be able to complete this step online in select locations.

How much does the loan cost?

Your total loan cost will depend on the amount you borrow, the length of your loan and your credit history.

Loan fees vary across provinces and territories. Be sure to check for extra fees, as these will add to the total cost of your loan. Some common fees include:

  • Application (establishment) fee
  • Origination fee
  • Late payment fee (interest fees and NSF fees)

Pros and cons


  • No early settlement fee
  • Flexible loan amounts
  • No prepayment fees


  • Can come with high interest rates

How to apply for a Fairstone Personal Loan (Unsecured)

You can apply for a Fairstone Personal Loan (Unsecured) by clicking the green “Go to Site” link on this page. To be eligible you must, at a minimum:

  • Be a resident or citizen of Canada (excluding Nunavut).
  • Be older than the age of majority in your province or territory.

Have an established credit history when applying for a loan you generally need to provide:

  • Identification. You will need to provide either a Canadian driver’s licence, passport or birth certificate.
  • Verification of income. You will need to demonstrate your ability to make repayments by providing either a pay stub, CPP statement or T4/T4a.
  • Proof of housing. You will need to show your rental receipts, lease agreement or mortgage statement.
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