{"id":761211,"date":"2019-01-23T23:55:16","date_gmt":"2019-01-24T04:55:16","guid":{"rendered":""},"modified":"2026-01-20T16:26:58","modified_gmt":"2026-01-20T21:26:58","slug":"bmo-personal-loans-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/personal-loans\/bmo-personal-loans-review","title":{"rendered":"Bank of Montreal (BMO) personal loans and lines of credit review"},"content":{"rendered":"

What is BMO?<\/h3>

BMO, more formally known as the Bank of Montreal, is one of Canada\u2019s Big Five banks.<\/p>

BMO is also the eighth-largest bank in North America in terms of assets, and it serves 13 million customers worldwide including 8 million in Canada. It offers a full range of personal and business banking products and services, such as chequing and savings accounts, credit cards, mortgages and personal loans.<\/p>

Is BMO legitimate?<\/h3>

Absolutely. Founded in 1817, BMO is the oldest bank in Canada and one of the nation\u2019s largest banks. It is regulated by the Office of the Superintendent of Financial Institutions.<\/p>

Features of Bank of Montreal loans<\/h3>
Feature<\/th>Personal loan<\/th>Personal line of credit<\/th><\/tr><\/thead>
Loan amount<\/td>From $2,000<\/td>From $2,000<\/td><\/tr>
Loan term<\/td>1 - 5 years<\/td>Open<\/td><\/tr>
APR<\/td>Varies<\/td>Varies<\/td><\/tr>
Serviced provinces<\/td>All<\/td>All<\/td><\/tr>
Eligibility requirements<\/td>
  • Good to excellent credit score<\/li>
  • Must receive sufficient steady income to service loan repayments<\/li><\/ul><\/td>