easyfinancial<\/p>
![\"easyfinancial\"](\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2022\/03\/easyfinancialLogo_Supplied_300x81.png\" "\\"Image:")
<\/p><\/th>
Fairstone<\/p>
![\"fairstone\"](\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2024\/03\/FairstoneLogo_300x100.jpg\" "\\"Image:")
<\/p><\/th><\/tr><\/thead>
- Easy, secure online application with a quick approvals process to the tune of 1 business day.<\/li>
- Anyone can apply, including newcomers to Canada, students and people with bad credit or no credit history at all.<\/li>
- You have the option for help via online, in-person interactions or telephone assistance.<\/li>
- High approval rate. As many as 60% of easyfinancial customers who qualify for a personal loan have been turned down by a bank due to bad credit.<\/li>
- Applying is free and won\u2019t hurt your credit score.<\/li>
- Available across Canada, including all 10 provinces and territories.<\/li><\/ul><\/td>
- Range of loan options, including secured, unsecured and debt consolidation loans.<\/li>
- Flexible loan terms ranging from just 6 months up to a decade.<\/li>
- Get a quote without affecting your credit score.<\/li>
- Offers bi-weekly, semi-monthly and monthly repayment plans. You can set up automatic payments to come out of your bank account and can round-up payments to clear debt faster.<\/li>
- You have 14 days to cancel an unsecured loan without incurring any fees.<\/li><\/ul><\/td><\/tr>
What to watch out for<\/td> - Steep interest rates for bad credit that are as high as 35%. On a whole, unsecured loans start at 29.99%, which is pretty high.<\/li>
- Potential for additional charges, including administrative charges, and fees for non-sufficient funds and for late or missed payments.<\/li>
- No online quotes or online comparisons to help you comparison shop.<\/li><\/ul><\/td>
- Steep interest rates for bad credit that are as high as 34.99%.<\/li>
- Potential for additional charges, including administrative charges and fees for non-sufficient funds and for late or missed payments.<\/li>
- If you\u2019re applying for a secured loan, you\u2019ll need to visit a Fairstone location to submit the necessary paperwork in person.<\/li><\/ul><\/td><\/tr>
Types of loans<\/td> - Personal loans<\/li>
- Home equity loans<\/li>
- Auto loans<\/li><\/ul><\/td>
- Secured personal loan<\/li>
- Unsecured personal loan<\/li>
- Home equity loans<\/li>
- Auto loans<\/li><\/ul><\/td><\/tr>
APR<\/td> - 9.99% - 35.00%<\/span> for personal loans<\/li><\/ul><\/td>
- 19.99% - 23.99%<\/span> for secured loans<\/li>
- 29.99% - 34.99%<\/span> for unsecured loans<\/li><\/ul><\/td><\/tr>
Loan terms<\/td> - 9 - 240 months for personal loans<\/li><\/ul><\/td>
- 36 - 120 months for secured loans<\/li>
- 6 - 60 months for unsecured loans<\/li><\/ul><\/td><\/tr>
Loan amounts<\/td> - $500 \u2013 $150,000 for personal loans<\/li><\/ul><\/td>
- $5,000 to $60,000 for secured loans<\/li>
- $500 to $25,000 for unsecured loans<\/li><\/ul><\/td><\/tr>
Fees<\/td> - Applying for a loan is free, but you may come across NSF fees, late payment fees, missed payment fees or admin fees. These charges aren\u2019t listed on its website, though.<\/li><\/ul><\/td>
- Extra fees may be charged for secured loans to arrange an appraisal and other record-keeping. These fees may include administration and insurance fees.<\/li><\/ul><\/td><\/tr>
Repayments<\/td> - Choose weekly, fortnightly, monthly or bi-monthly repayments.<\/li>
- Automatic withdrawals are made from your account on payment due dates.<\/li>
- Pay off some or all of your loan without facing prepayment penalties.<\/li><\/ul><\/td>
- Choose weekly, fortnightly, monthly or bi-monthly repayments.<\/li>
- Make payments via cash, cheque, money order or direct withdrawal.<\/li>
- Pay off some or all of your loan without facing prepayment penalties.<\/li><\/ul><\/td><\/tr>
Availability online and in-person<\/td> - Request help online, in-person at over 400 locations or over the phone.<\/li><\/ul><\/td>
- Receive in-person help at more than 250 locations across Canada, over the phone or online.<\/li>
- With most loans, you\u2019ll have to bring documents to your local branch before gaining final approval. You may be able to complete this step online in select locations.<\/li><\/ul><\/td><\/tr>
Eligibility requirements<\/td> - Be a Canadian resident and the age of majority in your province.<\/li>
- Steady income of at least $1,200 per month.<\/li>
- An active Canadian banking account with direct deposit capability.<\/li>
- Your credit report with your credit score.<\/li>
- For secured loans, you must be a homeowner. Provide proof via annual mortgage statements and annual property tax statements.<\/li>
- For credit builder loans, you must not be bankrupt or in credit counselling, and you must not have an existing easyfinancial loan.<\/li><\/ul><\/td>
- Be a Canadian resident and the age of majority in your province.<\/li>
- Steady income.<\/li>
- Proof of residency. You will need to show your rental receipts, lease agreement or mortgage statement.<\/li>
- Have an active bank account in your name with direct deposit capability.<\/li>
- For secured loans, you must have home equity; Fairstone does not include details on how much home equity you must have, but you\u2019ll need to provide your mortgage statements as proof.<\/li><\/ul><\/td><\/tr>
Application process<\/td> - To apply, simply head online, call easyfinancial or visit one of 400+ locations across Canada.<\/li>
- You can submit your identity and income verification documents online.<\/li><\/ul><\/td>
- To apply, simply head online, or visit one of 250+ locations across Canada.<\/li>
- You may have to take your identity and income verification documents to your local branch and meet with a lending specialist in order to finalize your loan application.<\/li><\/ul><\/td><\/tr>
Customer reviews and reputation<\/td> - easyfinancial says it has funded $12.8 billion in loans so far, with a 94% customer satisfaction rate.<\/li>
- It has a rating of 1.5 out of 5 stars on Trustpilot based on over 270 reviews.<\/li>
- easyfinancial is accredited with the Better Business Bureau, with an A+ rating. It has closed 231 complaints with the BBB in the past 3 years, though.<\/li><\/ul><\/td>
- Fairstone says it\u2019s been in the lending space for over a century and has a 98.2% customer satisfaction rate.<\/li>
- It has a rating of 3.2 out of 5 stars on Trustpilot based on over 418 reviews.<\/li>
- Fairstone is accredited with the Better Business Bureau, with an A+ rating. It has closed 344 complaints with the BBB in the past 3 years, though.<\/li><\/ul><\/td><\/tr><\/tbody><\/table>\n\n\n\n\n
- Request help online, in-person at over 400 locations or over the phone.<\/li><\/ul><\/td>
- Extra fees may be charged for secured loans to arrange an appraisal and other record-keeping. These fees may include administration and insurance fees.<\/li><\/ul><\/td><\/tr>
- Applying for a loan is free, but you may come across NSF fees, late payment fees, missed payment fees or admin fees. These charges aren\u2019t listed on its website, though.<\/li><\/ul><\/td>
- $500 \u2013 $150,000 for personal loans<\/li><\/ul><\/td>
- 29.99% - 34.99%<\/span> for unsecured loans<\/li><\/ul><\/td><\/tr>
- 19.99% - 23.99%<\/span> for secured loans<\/li>
- 9.99% - 35.00%<\/span> for personal loans<\/li><\/ul><\/td>