Fairstone Personal Loan Overview

Fairstone offers Canadian borrowers personal loans ranging from $500 up to $60,000, with fixed and transparent rates, and both secured and unsecured options.

For unsecured loans, interest rates typically fall in the 29.99% – 34.99% range, with repayment terms between 6 and 60 months. Secured loans start at 19.99% and can be repaid over up to 120 months.

Borrowers can choose how often to make payments—monthly, bi-weekly, semi-monthly, or weekly—creating a plan that fits their lifestyle and budget.

The application process begins with a free online quote, which does not impact your credit score. Personal service is available online or at over 250 branches across Canada.

Funds could be deposited as quickly as the same day, depending on approval and completion of required documents.

How to Apply: Step-by-Step

1. Start by requesting a personal loan quote online or in-branch. No credit score impact occurs at this stage.

2. If pre-qualified, a Fairstone specialist contacts you to customize the loan amount, term, and payment schedule.

3. Submit the required verification documents online or at a branch to confirm your eligibility and complete the application.

4. Final approval is given after all documents are confirmed. Loan funds can be deposited directly to your bank quickly.

5. Begin repayment based on your selected schedule—monthly, bi-weekly, semi-monthly, or weekly—to fit your budget.

Main Advantages

One standout benefit of Fairstone is the speed: you can apply and get approved fully online, often with funds deposited the same day.

Additionally, there are multiple payment options and a wide range of amounts available, making it suitable for many financial needs, from emergencies to home projects.

Drawbacks

The primary downside for many may be the relatively high interest rates on unsecured loans, especially for lower credit scores.

Secured loan options decrease rates but require homeownership and potentially more paperwork and waiting time for approval.

Our Verdict

Fairstone is a solid choice for Canadians seeking fast personal loans with transparent conditions, particularly when banks won’t approve working-class or fair credit applicants.

The process is streamlined and customer-focused, but carefully compare rates to other lenders if you qualify for strong credit products elsewhere.