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Personal Loans: Best Picks for August 2026

Discover the top personal loans with rates from 6% and flexible terms up to 7 years. Perfect for first-time borrowers and those seeking quick approvals.

Aug 22, 2026

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Personal Loan Picks: Low Rates and Fast Approvals for August

Aug 15, 2026

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Personal 7.45–12.45%

Tangerine Line of Credit

This product is best for Canadians who prefer managing their finances online and are looking for a straightforward line of credit with no hidden fees.

Amount CA$1k–CA$50k

Term 12–60 mo

Decision 1-3 business days

Personal 7.99–14.99%

Coast Capital Savings Personal Loan

This loan is ideal for individuals in British Columbia seeking a flexible, fee-free banking experience.

Amount CA$1k–CA$50k

Term 12–60 mo

Decision 1-3 business days

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KOHO Credit Building Account

This service is best for individuals who are new to credit or those looking to rebuild their credit history through responsible spending.

Amount Up to CA$10

Term 4–12 mo

Decision Instant approval

Personal 19.9–46.93%

LendDirect Personal Loan

This service is best for borrowers needing fast approvals and flexible eligibility criteria.

Amount CA$500–CA$25k

Term 6–60 mo

Decision 15 minutes

Personal 7.49–12.99%

Meridian Credit Union Personal Loan

This loan is best for members of Meridian looking for flexible personal loan options with reasonable APRs and a commitment to customer service.

Amount CA$1k–CA$50k

Term 12–60 mo

Decision 1-3 business days

Personal 6.95–12.95%

Desjardins Personal Loan

This loan is best for current Desjardins members seeking flexible terms and personalized service, along with those who prefer a well-established institution.

Amount CA$500–CA$50k

Term 12–60 mo

Decision 1-3 business days