{"id":810006,"date":"2019-11-18T10:01:17","date_gmt":"2019-11-18T15:01:17","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=810006"},"modified":"2026-03-09T18:32:41","modified_gmt":"2026-03-09T22:32:41","slug":"credit-score-needed-personal-loan","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/personal-loans\/credit-score-needed-personal-loan","title":{"rendered":"What credit score is needed for a personal loan?"},"content":{"rendered":"

Your credit score is one of the most important factors in a personal loan application. Lenders often won\u2019t consider you if you don\u2019t meet their minimum credit score requirement. However, it\u2019s only one of several factors they look at when determining your eligibility.<\/p>

What credit score do I need to get approved for a personal loan?<\/h3>

The minimum credit score requirement varies from lender to lender. You typically need a good to excellent credit score above 660 to get approved for a personal loan from financial institutions like TD, RBC and Meridian. Meanwhile, online lenders like Spring Financial and Loans Canada can help you get a loan even if you have fair credit between 560 and 659 or even bad credit below 560.<\/p>

Compare personal loans for different credit scores<\/h3>
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5 of 51 results<\/span><\/small><\/div><\/div>
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\n APR Range\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Loan Amount\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Loan Term\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Min. Credit Score\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Broker Compliance\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Key Features\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th><\/tr><\/thead>
9.99% - 34.95%<\/span><\/span><\/div><\/td>
$500 - $35,000 <\/span><\/div><\/td>
6 - 84 months<\/span><\/div><\/td>
550<\/span><\/div><\/td>
Key features: Fast online personal loans<\/b><\/div><\/td>
Go to site<\/a><\/use><\/svg>View details<\/span><\/a>
Compare product selection<\/legend>
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8.99% - 35.00%<\/span><\/span><\/div><\/td>
$500 - $60,000 <\/span><\/div><\/td>
3 - 120 months<\/span><\/div><\/td>
300<\/span><\/div><\/td>
\n Note: LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.\n <\/div><\/td>
Key features: Loan search platform for all credit scores<\/b><\/div><\/td>
Go to site<\/a><\/use><\/svg>View details<\/span><\/a>
Compare product selection<\/legend>
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9.99% - 35.00%<\/span><\/span><\/div><\/td>
$500 - $35,000 <\/span><\/div><\/td>
6 - 60 months<\/span><\/div><\/td>
300<\/span><\/div><\/td>
\n Note: Loans Canada is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.\n <\/div><\/td>
Key features: Loan search platform with the largest lender network<\/b><\/div><\/td>
Go to site<\/a><\/use><\/svg>View details<\/span><\/a>
Compare product selection<\/legend>
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\"CIBC<\/a>
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CIBC Personal Loan<\/a><\/span><\/div><\/td>
Not Disclosed<\/span><\/div><\/td>
$3,000 - $200,000 <\/span><\/div><\/td>
1 - 5 years<\/span><\/div><\/td>
N\/A<\/span><\/div><\/td>
Key features: Easy online application, Large loan amounts<\/b><\/div><\/td>
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\"Scotiabank<\/a>
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Scotiabank Personal Loans<\/a><\/span><\/div><\/td>
Varies<\/span><\/div><\/td>
From $5,000 \u2013 $75,000 <\/span><\/div><\/td>
1 - 5 years<\/span><\/div><\/td>
650<\/span><\/div><\/td>
Key features: Easy to manage your loan online<\/b><\/div><\/td>
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