In this guide

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National Bank Personal Loan
Finder score
APR Range
9.65% - 13.70%
Loan Amount
Loan Term
6 - 60 months
All information about National Bank Personal Loan has been collected independently by Finder. Finder is not connected with National Bank products, and this page is not sponsored, endorsed or administered by, or associated with, National Bank. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

National Bank offers competitive rates for its personal loans.

National Bank offers personal loans to borrowers with good to excellent credit. Its loans offer flexibility as you can choose between a fixed and variable rate and loan terms of 6 - 60 months.

This bank is also transparent online with its interest rates, which we don't typically see with banks in Canada. Its website breaks down the rates it charges based on varying loan amounts and loan terms. However, these rates could be adjusted depending on your personal financial profile.


  • Reputable lender
  • Competitive rates
  • Flexible loan amounts and terms


  • Borrowers with bad credit may not get approved
  • Slower approval than alternative lenders

In this guide

  • Our verdict
  • Your reviews
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National Bank was included in the Finder: Personal Loans Customer Satisfaction Awards 2023.

Overall customer satisfaction score: 70.83%

What is National Bank?

National Bank is one of the six largest banks in Canada. It’s been in business since 1859 and is available across Canada.

What we like about National Bank personal loans

  • Upfront interest rates. National Bank lists its interest rates for loan sizes and term lengths online, letting users check what they can expect to pay before applying for a loan.
  • Plethora of options. When applying for a National Bank personal loan, you may pick from the number of term lengths, each of which have their own interest rate depending on the size of the loan.
  • Defer payments. If needed, you can defer a payment by contacting a National Bank representative. However, to be eligible, you must have made regular payments for the last 6 months and the interest portion is still charged as scheduled.
  • Early payment. If you have the means, you are able to pay off your personal loan with National Bank at any time without penalty.
  • Additional payments. National Bank allows you to make additional payments to your loan, allowing you to pay your loan off faster.

What to watch out for

  • Loans after a divorce. If you take out a loan from National Bank with your spouse and get divorced, you are both still responsible for the loan. You can remove a co-borrower from the loan, but you will have to renegotiate the terms of the loan with an National Bank representative.
  • Two-day waiting period. It could take Varies to hear from a representative about your application process. If you need funds right away, this could delay the process. Learn about emergency loans.
  • Some things are exclusively in person or over the phone. Some perks, such as early payments, are only able to be done by visiting a branch or calling a representative.

Am I eligible?

To be eligible for a personal loan from National Bank, you must:

  • Be a Canadian citizen or permanent resident
  • Not been denied credit in the last six months
  • Have already had credit at some point
  • Have reached the age of majority in your area
  • Have a source of employment or pension income

Compare personal loans

1 - 8 of 8
Name Product Ratings APR Range Loan Amount Loan Term Requirements
Loans Canada Personal Loan
Finder Score:
Customer Survey:
6.99% - 46.96%
$300 - $50,000
3 - 60 months
Requirements: min. credit score 300
Spring Financial Personal Loan
Finder Score:
Customer Survey:
10.80% - 46.99%
$500 - $35,000
6 - 60 months
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500
LoanConnect Personal Loan
Finder Score:
Customer Survey:
8.99% - 46.96%
$500 - $50,000
3 - 120 months
Requirements: min. credit score 300
AimFinance Personal Loan
Finder Score:
$1,000 - $5,000
9 - 24 months
Requirements: min. credit score 580
Mogo Personal Loan
Finder Score:
Customer Survey:
9.90% - 46.96%
$500 - $35,000
6 - 60 months
Requirements: min. income $13,000/year, min. credit score 500
SkyCap Financial Personal Loan
Finder Score:
Customer Survey:
12.99% - 39.99%
$500 - $10,000
9 - 60 months
Requirements: min. income $1,666.67/month, full time employment/pension, min. credit score 575, no bankruptcy
goPeer Personal Loan
Finder Score:
8.99% - 34.99%
$1,000 - $35,000
36 - 60 months
Requirements: recommended income $40,000/year, no payday loan debt, min. credit score 600, min. 5-year credit history. (Avg. approved rate of 15.80%) Vehicle Title Loan
Finder Score:
9.95% - 29.00%
$1,000 - $50,000
48 - 72 months
Requirements: Vehicle must be 10 years old or newer, and must not be financed or leased.

How do I apply for a National Bank personal loan?

To apply for a National Bank personal loan, you can head to its website and begin the application process. The application should take no more than 15 minutes to complete.

You will have to:

  • Fill in your personal information, including date of birth and the province you live in
  • Fill in some financial history information, including credit card or loan history, if you have ever been refused credit or declared bankruptcy
  • Answer if you are applying for a joint application, and if so, who you are applying with

You will also need to have some documents on hand including:

  • Contact information for your employer
  • Finances such as income, liabilities, bank accounts or credit cards

After applying, you should receive a confirmation email shortly after and receive an email or phone call from a representative within 24 to 48 hours for their decision.

Is a National Bank personal loan legit?

Yes, National Bank personal loans are legit. National Bank is one of the largest banks in Canada, serving more than 2.4 million clients across the country since 1859.

I got a National Bank personal loan. Now what?

After getting a National Bank personal loan, be sure to make payments on time. The timing and amount of your payment could vary based on if you have a fixed or variable rate. One of the benefits of National Bank is that you can make additional payments early, which can help pay off your loan faster. If you have the means to make an early payment, you should consider contacting a National Bank advisor.

Bottom line

National Bank offers upfront information about interest rates and loan terms, so deciding if it is the right fit for you can be quick. If you are in the market for a loan from a reputable organization and do not need the funds in your account by the end of the day, this could be a good choice.

For more information on personal loans, be sure to check out our personal loan comparison guide.

Frequently asked questions

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