Personal loans to support life’s big moments
Whether you need to buy a car, fund a renovation, or consolidate debt, our flexible personal loans put your financial wellness first.
Why choose a FirstOntario loan?
We’ll help you understand your needs, choose manageable payments, and find the best borrowing option with competitive rates and flexible terms.
Competitive rates
With personal loan rates starting as low as 6.89%*, we offer a smart alternative to big banks and high-interest lenders.
Fixed and variable rates
Choose the certainty of a fixed rate to lock in your payments, or the flexibility of a variable rate to potentially lower costs.
Flexible repayment
Choose a weekly, bi-weekly, or monthly repayment schedule that suits your life. Plus, enjoy no prepayment penalties.
​Peace of mind
Protect yourself with optional life, disability or critical illness insurance to cover your payments in the event of the unexpected.
Personal borrowing options
Borrow with confidence using unsecured loans, secured loans, or debt consolidation options designed to fit your budget.
Unsecured loans as low as 7.49%*
Need funds quickly without pledging assets? An unsecured personal loan is ideal for big purchases, vacations, RRSP contributions, and more.
Secured loans as low as 6.89%*
Looking for the lowest possible rate and a higher borrowing limit? By securing your loan with an asset, you reduce the risk, and we pass the savings on to you.
Debt consolidation
High-interest credit card debt can be paralyzing. Our loans allow you to combine multiple high-rate debts into one manageable monthly payment at a significantly lower interest rate.
- Simplify your finances with one payment and one due date.
- Lower your monthly carrying costs instantly.
- Set a clear date when you will be debt-free.
Top 5 questions about personal loans
What can I use a personal loan for?
You can use a FirstOntario personal loan for almost any legitimate purpose. Common uses include purchasing a vehicle, funding a home renovation, paying for a wedding, RRSP contributions, or debt consolidation.
What is the difference between a secured and unsecured loan?
A secured loan requires an asset (collateral) such as a car or cash savings to back the loan, which typically results in a lower interest rate. An unsecured loan relies solely on your creditworthiness and does not require collateral, though rates may be slightly higher.
Can I pay off my loan early?
Yes! FirstOntario offers flexible repayment options with no prepayment penalties. You can make lump sum payments or pay off the entire balance at any time to save on interest costs.
How do I apply for a personal loan in Ontario?
For unsecured loans, you can submit an application online for quick processing. For secured loans, or if you would prefer to speak with someone, please visit one of our branches or call our Member Solutions Team at 1-800-616-8878 (option 2).
Do I need to be a member to get a loan?
Yes, FirstOntario is a credit union, which means we serve our members, who are also owners. To access our low-interest personal loans and profit-sharing benefits, you must be a member. Becoming a member is easy, open to everyone in Ontario, and gives you ownership in the credit union.
Ready to make your plans a reality?
We can help with your personal loan application over the phone or online, and you can visit us in person at a branch.
Call us
at 1‑800‑616‑8878
Book an appointment
to meet with us virtually
Visit us
at one of our branches