Is a Fairstone personal loan the best one for you?

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Alexandre Desoutter updated on 17 November 2021

Personal loans are a popular and versatile form of credit. They are great tools for consolidating debt, buying a used car, paying off a credit card, or financing a home improvement project or major expense. For well-qualified buyers, they can be an inexpensive way of accessing credit.

You still need to choose the right lender for you. Are you considering getting a personal loan with Fairstone?

This guide will help you with everything you need to know. See Fairstone's personal loan interest rates, fees, our review and much more.

Our review of Fairstone:

Fairstone offers personal loans accessible online or at one of its 240+ branch locations across Canada. Fairstone offers secured and unsecured personal loans to help you get the cash you require to meet your needs.

Why a Fairstone personal loans might be right for you:
Secured and unsecured personal loans are available
Loan amount up to $50,000
Enjoy a payment schedule that fits your needs, budget and lifestyle
Get personalized service from a Lending Specialist
Free loan quote
Easy to process

Fairstone personal loan might not be right for you because of the following:
A high credit score may be required
Extra fees may apply - especially with secured loans
The interest rate can be high (up to 46.96%)
Prepayment penalty applies to Fairstone secured personal loan

What types of personal loans does Fairstone offer?

Fairstone features three personal loan options to help you choose the solution that perfectly suits your needs. These borrowing options are Secured personal loan, Unsecured personal loan and Online loan.

Secured personal loan

This loan option is also called a home equity loan. It enables you to use home equity to secure your loan - at lower interest rates, lower payments and high loan amounts.

  • Get loan from $5,000 to $50,000
  • Competitive interest rate
  • Enjoy lower payments
  • Loan term from 36 to 120 months
  • You must be a homeowner
  • Prepayment penalty applies
  • Fixed payments
  • 3+ days to process

Unsecured personal loan

Unsecured personal loans offer a flexible and convenient way to borrow funds for debt consolidation, emergencies and so on.

  • Simple and easy to access the funds
  • Zero application fees
  • Pays off the loan anytime with no penalty
  • Get loan from $500 to $25,000
  • Loan term ranges from 6 to 60 months
  • Fast application process - it is possible to receive your loan the same day you apply
  • Fixed payments

Online loan

With this loan solution, you can get a quick, flexible and secure loan from the very comfort of your home. The features include:

  • Loan term ranges from 6 to 60 months
  • Minimum loan amount of $500
  • Maximum loan amount of $25,000
  • Home ownership is not required
  • There is no prepayment penalty
  • Money in your bank in as little as 24 hours
  • Personalized service from a Lending Specialist

Compare personal loan interest rates in seconds

Find the best interest rate

What rates does Fairstone offer on personal loans?

Fairstone secured personal loan interest rate: 20 to 24%.

Fairstone unsecured personal loan interest rate: 27 to 40%.

When comparing personal loan offers, it is important to pick something that you can comfortably repay. While shorter loans offer lower interest rates, the monthly payments will be higher. Longer loans come at higher interest, but with lower monthly payments. Even if a longer loan costs more overall it may be more manageable.

The interest rates on personal loans vary based on many factors. Lenders review the profile and credit history of the borrower, the loan amount, the length of the loan and more.

Before choosing a personal loan with Fairstone, shop and compare rates and conditions with other lenders:

Our tool lets you anonymously compare personal loan interest rates!

Compare personal loan interest rates in seconds

Find the best interest rate

Fairstone’s personal loan calculator:

You can get a quick estimate of your loan payments with Safe's personal loan calculator. Just enter the amount borrowed. Adjust the loan term and the interest rate to quickly get monthly payments and total interest paid.

Fairstone has a loan payment calculator accessible on its website.

How do I apply for a Fairstone personal loan?

Before signing up for a Fairstone personal loan, shop around! Our comparison tool offers quotes from dozens of lenders in just seconds. Find the best terms and rates for your profile.

Compare personal loan interest rates in seconds

Find the best interest rate

Apply in four steps:

  • Get an online quote
  • Talk to a Lending Specialist
  • Submit required documents
  • Receive your loan
  • You will be required to submit the following:
    • Personal identification - Driver’s Licence, Permanent Resident Card, etc
    • Employment and income verification
    • Housing information

Can I get a Fairstone personal loan with bad credit?

Personal loans are available to many borrowers with a bad credit score. You will have to check with Fairstone because everyone's situation is different. They will review your financial statements, your employment history and your credit score. Having a co-signer or guarantor with a better credit score increases the chances of a successful loan application.

Good to know

Some lenders exist to help borrows with poor credit scores, so even if Fairstone rejects your application, you have options for a personal loan.

Before signing with Fairstone, compare current personal loan interest rates and offers.

Fairstone personal loans - contact information, phone number and client space

Talk to a Lending Specialist: 800-995-2274

Client space login

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Alexandre Desoutter

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a as a contributor to several publications.