Personal Loan

Cover the cost of a car, wedding, or other expenses in one easy payment, with competitive rates that keep financing affordable.

Borrow the amount you need for a one-time expense.

Features of this loan

Choose from weekly, biweekly, or monthly payments, with no prepayment penalties
Secured or unsecured options are available
Conveniently linked to your primary SCU chequing account, so funds automatically transfer over
Additional disability, life, and critical illness insurance is available for qualifying borrowers *

Benefits included with all of our loans

Receive answers quickly and efficiently with in-house approvals

Competitive interest rates keep borrowing affordable

Select payment options and terms that fit your budget

Get ready for your lending meeting

Meeting with a lending specialist is a great opportunity for you to ask questions and explore your borrowing options. Here’s what we need you to bring.

Download our checklist

Tips & tools

Explore related products

Personal loans pair well with our SCU Collabria^®credit cards, personal mortgages, and High Interest Savings Accounts .

Explore ways to pay down debt faster

Sometimes exploring the possibilities is about creating a plan to pay down debt, so you can work toward your financial goals. Read our article to find out how.

Smart tip!

A personal loan can help you consolidate debt so you can make one payment each month at a lower interest rate.

Personal borrowing rates

Standard loan rate	6.70%

Line of Credit	7.70%

Personal Loan	7.70%

StudentFLEX^TMLine of Credit	Rates Vary

Overdraft Link Line	18.0%

e-Loan	Rates Vary

*Loan / line of credit / mortgage insurance coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.
®The Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.