Fairstone offers both secured and unsecured loan products, emergency personal loans and debt consolidation loans. With free no-obligation online quotes that don’t affect your credit score, you could be approved for a $500 to $35,000 loan with a repayment period of 6 months – 10 years, depending on whether you choose a secured or unsecured loan. With roots in Canada since 1923, Fairstone is a responsible lender with over 230 branches from coast to coast.
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How does borrowing from Fairstone work?
You can apply for a Fairstone personal loan from $500 to $35,000 online at the Fairstone website. Taking out a Fairstone personal loan involves the following steps:
Get a loan quote. Based on your credit score, income and homeownership status, you will receive a free online loan quote from the Fairstone website.
Receive an instant response. It only takes a few minutes to receive your loan quote. If you’re happy with your quote, a Fairstone Lending Specialist will be in touch to discuss your loan offer.
Gather your documents. Collect the necessary documents in order to prove your identity, income and housing situation. These documents will need to be taken in-person to your local branch in order to finalize your loan agreement. You may be able to complete this step online in select locations.
Visit your local branch. Take your documents to your local branch and meet with a Lending Specialist in order to finalize your loan application. Your Lending Specialist will discuss repayment terms, will explain the repayment process, and finalize your loan offer.
Receive your money. Once approved, you could receive your money the same day you apply.
Features of a personal loan from Fairstone
Fairstone personal loans include the following features:
Loan amounts up to $35,000. You can borrow up to $35,000 from Fairstone to cover unexpected expenses like a home or car repair, consolidate debt and more. The amount you’re able to borrow will depend on factors like your credit score and homeownership status.
Flexible loan terms. Personal loan terms range from 6 months – 10 years, depending on the loan amount and the repayment terms you choose.
No early repayment penalties on unsecured loans. There are no early repayment fees if you decide to pay off your unsecured personal loan before the loan term is up.
Secured and unsecured loans. You can choose from both secured and unsecured personal loans. Both come with fixed interest rates, however they have varying repayment terms and interest rates.
Less than one day processing. You could receive your loan in as little as one day after applying.
One-on-one assistance. Receive assistance from a lending specialist who can help you find the right loan for you and guide you through the loan application process.
Quick loan application. You could receive your money the same day you apply.
Free loan quote. Find out how much money you could qualify for, and what your payments might be. It only takes a few minutes and won’t impact your credit score.
14 day cancellation. If you change your mind and decide to cancel an unsecured personal loan, you have up to 14 days to do so and won’t be charged any fees. Secured loans come with a two day cancellation window.
How much will a Fairstone personal loan cost?
Interest rates start at 19.99% for secured loans, and go up to 39.99% for unsecured loans. However, interest rates may vary by province.
Fees for secured personal loans may apply and vary between different provinces and territories. Types of fees may include administrative, insurance, home evaluation, title examination and other applicable fees.
Ready to apply? Here’s how.
To be eligible for a personal loan from Fairstone, you must meet the following criteria:
Be a citizen or resident of Canada (excluding Nunavut)
Have reached the age of majority in your province or territory (Usually 18 years of age)
Have an established credit history
Able to make monthly repayments on your loan
Intend to use the loan for personal purposes
You’ll need to bring the following documents to your local Fairstone branch in order to complete your application:
Valid personal identification such as a passport, birth certificate or valid Canadian driver’s licence
Proof of income such as a pay stub, CPP statement or T4/T4a
Housing verification such as rental receipts, lease agreement or a monthly or annual mortgage statement
Once you receive your no-obligation loan quote and speak to a Fairstone lender, you could receive your loan funds the same day if you head to your local Fairstone branch during business hours. Remember to have the necessary documents on hand to present to your Lending specialist in order to finalize your loan offer and receive your funds.
If you’re interested in a Fairstone personal loan, click on one of the Go to site buttons to begin your application.
Frequently asked questions
Yes, Fairstone charge no prepayment fees to pay off an unsecured personal loan early.
Not necessarily. The amount that you’ll be approved for depends on a few factors including your income, credit score and your homeownership status.
Much like the borrowing amount, your interest rate is determined by a few factors including your credit score, income, employment status, homeownership status, loan type and economic conditions.
Emma Balmforth is a Producer at Finder. She is passionate about cryptocurrency, credit cards and loans, and enjoys helping people understand the often confusing world of finance. Emma has a degree in business and psychology from the University of Waterloo. She wants to help people make financial decisions that will benefit them now and in the future.
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