Discover the Process of Applying for Fairstone Personal Loans

Fairstone provides a fantastic selection of personal loans, featuring unsecured choices of up to $25,000. Take a look!

Key Considerations Before Applying for a Fairstone Personal Loan

Fairstone provides personal loans ranging from $500 to $25,000 in unsecured credit, allowing repayment over a period of up to 60 months.

Fairstone is a Canadian institution providing a wide range of financial services, especially focused on loans.

The company offers various secured loans along with specialized financing for vehicles and real estate. Each loan type comes with specific terms and conditions.

For unsecured personal loans, amounts can range from $500 to $25,000. Other loan types may go as high as $60,000, with repayment periods reaching up to 120 months.

Unsecured personal loans have a repayment range from 6 to 60 months, with fixed installments and interest rates varying from 26.99% to 39.99%.

No collateral or prepayment fees are necessary for this credit type. The loans are suitable for various needs, including debt consolidation, vehicle purchases, emergencies, credit enhancement, and weddings.

Furthermore, funds can be allocated for vacations, home improvements, RVs, boats, and personal investments. Fairstone proves to be adaptable for various financial situations.

Eligibility Criteria

Check out Fairstone’s conditions. Photo by Freepik.

For unsecured loans, the key approval criteria are the client’s income and credit history, requiring identity verification and credit score assessment.

Applicants need to be at least 18 years old and properly registered in their country.

During the application process, you’ll need to submit documents like a valid passport, citizenship card, or driver’s license.

The application also requires proof of income, such as the most recent T4 or T4A, payment statements, and a Canada Pension Plan statement.

Aside from these requirements, there are no major restrictions, but do keep in mind that all applications depend on availability.

Having your documentation organized with all necessary evidence is crucial. It’s important to keep in mind that your home province may affect your loan terms.

How Can I Apply for the Fairstone Personal Loan?

Fairstone offers a loan quote form that doesn’t require commitment. To begin filling it out, you’ll need to specify the loan amount, which typically caps around $25,000 for personal loans.

Next, indicate the loan’s purpose, which may include debt consolidation, travel, repairs, or purchases.

To give more details about yourself, you’ll have to provide your full name, birth date, address, phone number, and email.

During this stage, you’ll provide banking info, expense estimates, and income details to help Fairstone assess your loan conditions.

By completing this form, you’ll obtain a loan quote based on your requested amount and repayment options. Afterward, a Fairstone representative will reach out via phone to guide you through the loan process.

Once you have all the required documents, you can complete your application online or visit any of the 240+ branches across Canada.

Fairstone states that if your application is approved, you could receive funds on the same business day, assuming all terms are satisfied.

Additional Information

Fairstone suggests that you can lower interest rates through simple habits like using credit cards wisely and ensuring bills are paid promptly.

This is because the company evaluates your credit history to offer better terms. If you require additional funds, consider applying for a secured loan if feasible.