Personal Loans
Whether you’re looking to make your next big purchase or consolidate your debt, we can help you get there. As an established customer, footnote 2 enjoy competitive rates with a BMO Unsecured Personal Loan.
Get more with a BMO Personal Loan
Get your funds fast
We’ll work with you to make your application as simple as possible, getting you money in just days.
Unsecured personal loans that work your way
With competitive rates and loans up to $35,000, we have options that work with your lifestyle. footnote 2, footnote 3
Pay on your schedule
Terms range from 24 to 60 months. footnote 1 Plus, repay your balance anytime without charges or penalty fees.
Not sure if this is the right loan for you? We’ll help you choose.
Personal Loan rates
Loan Amount footnote 3 | Loan term (months) | Annual Percentage rate (APR) footnote 1 | Monthly Payment |
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Some goals our customers achieve with our loans
Home renovations
Consolidate debt
Make big purchases
Get a Personal Loan in 3 easy steps
Step 1
Call or visit a branch to apply. You'll need your personal identification with current address on hand.
Step 2
Get personalized help as we work through your application with you.
Step 3
Get approved to access your funds in days.
Personal Loan resources and calculators
Learn about secured and unsecured loans to help you decide your best borrowing option.
How much could you save, and what could you achieve, by saving a little money here and there? footnote 4
Find out how much you can save by bringing all your outstanding debts together at a lower rate. footnote 4
Personal Loan help center
With a personal loan, established customers footnote 2 can get a lump sum at a competitive fixed interest rate for payments that will not change. Loan amounts are from $5,000 to $35,000. footnote 3 Repayment terms range from 24 to 60 months. footnote 1 You have the flexibility to choose what works for you.
The BMO Unsecured Personal Loans or Lines of Credit are only available to established customers footnote 2 who demonstrate a positive credit history. When you apply, we will pull your credit file and let you know our decision so you will have your funds in days. If you need to build your credit rating, you might try our Credit Builder Loan Program, or access resources to improve your financial wellness from our partner SpringFour.
There is no processing fee or annual fee on Unsecured Personal Loans. You can repay your loan early without penalty.
Once approved, we’ll deposit your funds directly into the BMO account you choose.
We make it easy for you to make payments by the method most convenient for you. You can set up Auto Pay footnote 5 to establish monthly automatic payments from any eligible BMO Checking account. When you do this during the application process you will receive a 0.50% interest rate discount. footnote 5You may also pay online, by mail (using the provided payment coupon), or when you visit a branch. You can send higher payments to pay down the principal at any time without incurring fees.You can also use BMO Express Loan Pay to make same-day payments to your BMO loan from any bank account.
Have questions? That’s what we’re here for
Visit a branch
Come into a branch and let’s talk about your plans — and how we can make them possible.
Call us
24 hours a day, 7 days a week, you can get answers when you need them.
Have us contact you
Tell us whether you prefer email or phone and we’ll reach out to you.
Footnote 1 details. The rates displayed are effective as of . Rates are subject to change without notice. Your Annual Percentage Rate may be as low as and as high as . To qualify for the lowest rate you must meet requirements for loan amount, term length, credit history, and have Auto Pay from a BMO personal checking account. Repayments can be made over 24 to 60 months. If you borrow at APR for a -month term, you will make principal and interest payments of approximately each. Your monthly payment amount may differ from this example based on your actual loan amount, repayment terms, and FICO score. To apply for a personal loan, whether over the phone or in person at one of our branches, you must reside within our Bank’s branch network. We currently offer loans in the following states: Arizona, California, Colorado, Florida, Idaho, Illinois, Iowa, Indiana, Kansas, Minnesota, Nebraska, Nevada, New Mexico, North Dakota, Missouri, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, or Wyoming.
Footnote 2 details. You must have a BMO personal deposit account that has been open for at least six months to be eligible for our BMO Unsecured Personal Loans or Lines of Credit. The six-month limitation is not applicable to our Private Bank customers.
Footnote 3 details. You must meet credit score and debt-to-income ratio requirements. Maximum loan amount of $35,000 for well-qualified borrowers. Not all applicants will qualify to borrow the maximum loan amount.
Footnote 4 details. Calculator is provided by Leadfusion Inc., which is not affiliated with BMO. The calculator provides estimates. We do not guarantee their accuracy or applicability to your circumstances. Results depend on many factors, including the assumptions you provide. Leadfusion may have different privacy and security standards than BMO. Visit its website at www.leadfusion.com to review its privacy policy.
Footnote 5 details. To receive a 0.50% rate discount, you must authorize BMO at origination to withdraw your installment loan payment each month from a BMO personal checking account using Auto Pay. Auto Pay means periodic scheduled payments automatically deducted from your BMO personal checking account, as applicable, to pay the loan. When you sign up for Auto Pay, you authorize the Bank at origination to draw your account for all amounts then due, including any late fees and any other charges.