Fairstone Unsecured Personal Loans

Fairstone’s Unsecured Loans provide Canadians with access to fast, fixed-rate financing of up to $25,000, without the need to offer home equity or other collateral.

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Overview of the Fairstone Unsecured Personal Loans program:

The Unsecured Loan from Fairstone is a personal loan product designed for borrowers who do not want or are unable to use collateral such as their home. These loans are ideal for addressing short- to mid-term financial needs, including debt consolidation, unexpected expenses, home repairs, or medical costs. Borrowers can access funds quickly, often within a few days, and benefit from fixed interest rates, meaning their payment amount remains consistent throughout the term. Loan amounts range from $500 to $25,000, and repayment terms are flexible—from 6 to 60 months—with weekly, bi-weekly, or monthly payment options. The loan application process is simple and can be completed online or in-person, with pre-qualification available without affecting the applicant’s credit score. Unlike secured loans, these loans are based solely on creditworthiness, income, and financial history, and no property lien or asset pledge is required. Fairstone works with borrowers of fair to good credit and also offers loan protection insurance as an optional add-on.

Benefits of the Fairstone Unsecured Personal Loans program:

Lower interest rates than unsecured loans due to collateral
Higher borrowing limitsideal for large expenses
Flexible repayment options (terms up to 120 months)
Fixed payments throughout the loan term
No prepayment penalties for early repayment
Fast approvals, often within 24 hours
Accessible to homeowners with fair to good credit scores
Option to add loan protection insurance

Eligibility criteria of the Fairstone Unsecured Personal Loans program:

Eligible Applicants:
Must be a Canadian homeowner (own property in their name)
Must be at least 18 years old
Must have sufficient home equity
Must provide:
- Proof of identity and homeownership
- Proof of income/employment
- Consent for credit check
Applicants with past credit challenges may still qualify, depending on debt levels and equity
Eligible Properties:
Primary residences (houses, townhomes)
Some restrictions may apply to mobile homes or condos