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Banks
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Laurentian Bank Of Canada

Advertiser Disclosure

About bank

Laurentian Bank is a financial institution founded in 1846 in Montreal. It is operating in Quebec primarily but also has commercial and business banking offices in Alberta, British Columbia, Nova Scotia, and Ontario.

Laurentian Bank serves 1.5 million clients across Canada, and the number of its employees exceeds 2,800.

Features

Laurentian Bank is a Schedule 1 financial institution.

All Laurentian Bank deposits are safe and secure as long as the bank is a registered member of the Canada Deposit Insurance Corporation.

Laurentian Bank also has a membership with Interac.

In 2022, the bank’s assets reached CAD 48 billion.

Pros and cons

Let’s outline the benefits of Laurentian Bank:

  • A variety of personal and business banking solutions 

  • No charges for electronic paper statements

  • Discounts and other advantages for students and seniors

  • A $300 welcome bonus for opening a chequing account

  • Competitive interest rates with savings accounts

  • Business solutions for specific market segments

Here are the potential drawbacks:

  • To make a deposit at an ATM, you must use paper envelopes

  • Monthly fees apply to bank accounts 

  • Monthly fees for paper statements 

  • If you have no activity with your bank accounts, a lack of activity charge will apply

  • Limited geographic availability of Laurentian Bank branches 

Products

The following personal banking products are available at Laurentian Bank:

  • Chequing accounts for everyday banking needs with either a fixed or unlimited number of monthly transactions included

  • High-interest savings accounts to earn interest of up to 0.25% on balances of $2,500 and more 

  • U.S. dollar accounts to perform transactions in USD and accumulate interest on balances of $1,000 and more

  • Youth accounts with zero monthly fees and unlimited transactions included

  • Seniors accounts with zero monthly fees when making up to 4 transactions per month

  • Students Advantage offers featuring an $8 discount on monthly fees and access to financial privileges like student lines of credit and credit cards with zero to $3.50 monthly fees

  • 60+ Advantage offers for seniors with a $5 discount on monthly fees 

  • Credit cards of different types with benefits like premium perks, higher cash back, reward points, or lower interest rates 

  • Mortgage solutions including fixed-rate and variable-rate mortgages, mortgages with cash back, equity lines of credit, and retirement lines of credit 

  • Lines of credit with lower interest rates than credit cards have and a revolving credit limit

  • Personal loans of $3,500 and more for any of your borrowing needs

  • RRSP financing to optimize your RRSP contributions and catch up on an unused contribution room 

  • Investment products, including guaranteed investment certificates (GICs), term deposits, and mutual funds

  • Registered plans to help you save and grow money for various life goals — your retirement, your child’s education, and many more 

Products for business offered by Laurentian Bank include:

  • Current accounts in Canadian dollars, U.S. dollars, or euros to conduct your daily banking transactions 

  • U.S. dollar chequing accounts to conduct transactions like deposits, withdrawals, pre-authorized debits, and cheques

  • Business packages designed to fit the transaction needs of different business clients

  • Visa business credit cards featuring the longest payment terms across the Canadian financial institutions, overall credit limits of up to $25,000, and up to 1.25% cash back 

  • Short-term financing solutions like lines of credit, pre-authorized revolving credits, and bank acceptance financing 

  • Long-term financing including term loans for expansion or modernization projects and small business loans for a variety of business goals

  • Investment products including fixed-rate investments (term deposits and GICs), short-term investments (treasury bills, banker’s acceptance, and commercial paper), and long-term investments like bonds, stripped coupons, and residuals

Services 

Businesses can reach out to Laurentian Bank for the following services:

  • Day-to-day banking transactions services included in bank accounts to make deposits, withdrawals, bill payments, and money transfers

  • Payment services including pre-authorized payments, accelerated payments, international electronic data interchange (EDI), deposit collection, and account collection for cash inflow, and pre-authorized payments and direct deposits for cash outflow 

  • The 24h Deposit Box allowing to make business deposits 24/7

  • International services for businesses operating in foreign markets including exchange transactions (spot, forward, and swap) and international transaction settlement through issuing letters of credit, providing corresponding banking, and funding transfers (either in Canadian dollars or in USD)

  • Real estate financing options tailor-made for your business to implement your residential, industrial, or commercial real estate projects

  • Equipment financing solutions crafted by a dedicated team specialized in your industry

  • Industry-specific financing solutions tailored to your business reality covering manufacturing, food processing, daycare centers, and general insurance industries

Laurentian Bank Of Canada

FAQ

Who is Laurentian Bank owned by?

The top 3 shareholders of Laurentian Bank are The Caisse de dépôt et placement du Québec, Dimensional Fund Advisors LP, and BlackRock Asset Management Canada Ltd.

Is Laurentian Bank legitimate?

The Laurentian Bank of Canada is an entity of Laurentian Bank Financial Group, a diversified financial services provider. On 01 January 2002, the City of Vancouver issued license #22-100586 for Laurentian Bank.

What are the top five banks in Canada?

The top five banks in Canada by total assets and capitalization are Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC).

Laurentian Bank has total assets of C$45.08 billion.

Company documents

Laurentian Bank Financial Group Privacy Statement

Laurentian Bank Of Canada service available provinces

  • Ontario
  • Quebec
  • Nova Scotia
  • New Brunswick
  • Manitoba
  • British Columbia
  • Prince Edward Island
  • Saskatchewan
  • Alberta
  • Newfoundland and Labrador
  • Northwest Territories
  • Yukon
  • Nunavut
Laurentian Bank Of Canada service available provinces

Financial products

Laurentian Bank Of Canada
Visa Black Reward Me®
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
Laurentian Bank Of Canada
Visa DOLLARS®
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Recommended FinScore™
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300
650
1000
Laurentian Bank Of Canada
Visa EXPLORE®
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Recommended FinScore™
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300
650
1000
Laurentian Bank Of Canada
Laurentian Bank Visa Infinite®
Rating by Finanso®
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0
300
650
1000
Laurentian Bank Of Canada
Student line of credit
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
$1,500 and up
Term
i

Loan term for the financial product

7 years
Laurentian Bank Of Canada
Student loan
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

10 years
Laurentian Bank Of Canada
RRSP Maxi-Loan
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
$1,500 and up
Rate
i

Effective interest rate on the product

5.25%
Laurentian Bank Of Canada
RRSP line of credit
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,500 and up
Rate
i

Effective interest rate on the product

5.75%
Laurentian Bank Of Canada
RRSP loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,500-$50,000
Term
i

Loan term for the financial product

10 years
Laurentian Bank Of Canada
Personal Line of Credit
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,500 and up
Laurentian Bank Of Canada
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$3,500 and up
Term
i

Loan term for the financial product

10 years
Laurentian Bank Of Canada
Student line of credit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $30,000
Term
i

Loan term for the financial product

up to 7 years
Laurentian Bank Of Canada
Student loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 10 years
Laurentian Bank Of Canada
Retirement line of credit
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
Laurentian Bank Of Canada
Equity line of credit
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
$10,000
Rate
i

Effective interest rate on the product

4,950%
Laurentian Bank Of Canada
Fixed-rate mortgage
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

7,050%
Laurentian Bank Of Canada
A mortgage with cash back
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

6,140%
Term
i

Loan term for the financial product

5 years
Laurentian Bank Of Canada
Variable-rate mortgage
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

5 years
Laurentian Bank Of Canada
ActionGIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Term
i

Loan term for the financial product

2-5 years
Laurentian Bank Of Canada
Fixed-Rate GIC
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$500 minimum investment
Rate
i

Effective interest rate on the product

up to 5.10%
Term
i

Loan term for the financial product

up to 2 years
Laurentian Bank Of Canada
Term Deposits
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$500 minimum investment
Term
i

Loan term for the financial product

15 months
Laurentian Bank Of Canada
Life Income Fund (LIF)
Rating by Finanso®
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Laurentian Bank Of Canada
Locked-In Retirement Account (LIRA)
Rating by Finanso®
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Laurentian Bank Of Canada
Registered Retirement Income Fund (RRIF)
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Laurentian Bank Of Canada
Registered Retirement Savings Plan (RRSP)
Rating by Finanso®
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$500 minimum investment
Laurentian Bank Of Canada
Registered Education Savings Plan (RESP)
Rating by Finanso®
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Laurentian Bank Of Canada
Tax-Free Savings Account (TFSA)
Rating by Finanso®
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Laurentian Bank Of Canada
Day By Day Interest Plus US Account
Rating by Finanso®
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Laurentian Bank Of Canada
High Interest Savings Account
Rating by Finanso®
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Rate
i

Effective interest rate on the product

3.00%
Laurentian Bank Of Canada
Basic account
Rating by Finanso®
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$4.00 monthly fee
Laurentian Bank Of Canada
Preferred account
Rating by Finanso®
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$7.50 monthly fee
Laurentian Bank Of Canada
Unlimited account
Rating by Finanso®
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$14.75 monthly fee
Laurentian Bank Of Canada
Car loans
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
$7,500-$15,000
Term
i

Loan term for the financial product

1 to 5 years
aggregation.company.all-products

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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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650
1000
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Recommended FinScore™
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650
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Effective interest rate on the product

20.99% - 22.99%
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Rating by Finanso®
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Recommended FinScore™
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300
650
1000
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21.99% - 22.99%
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
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i

Effective interest rate on the product

21.99% - 22.99%
Borrowell
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
i

Effective interest rate on the product

up to 39.99%
Term
i

Loan term for the financial product

up to 84 months
goPeer
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000 - $25,000
Rate
i

Effective interest rate on the product

up to 33.92%
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i

Loan term for the financial product

up to 60 months
Refresh Financial
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,250-$10,000
Rate
i

Effective interest rate on the product

up to 19.99%
Term
i

Loan term for the financial product

up to 60 months
Mogo
Personal loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
i

Effective interest rate on the product

up to 46.96%
Term
i

Loan term for the financial product

up to 60 months
Coast Capital Savings
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
i

Effective interest rate on the product

7.5%
Term
i

Loan term for the financial product

60 months
Mogo
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.46%
Mortgage Architects
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$10,000-$100,000,000
Rate
i

Effective interest rate on the product

up to 4.95%
Term
i

Loan term for the financial product

up to 10 years
Think Financial
Mortgage
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$50,000-$500,000
Rate
i

Effective interest rate on the product

up to 5.19%
Term
i

Loan term for the financial product

up to 25 years
CHIP Reverse Mortgage
Reverse Mortgage
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$100,000-$500,000
Rate
i

Effective interest rate on the product

up to 7.67%
Term
i

Loan term for the financial product

up to 25 years
Northwood Mortgage
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000-$10,000,000
Rate
i

Effective interest rate on the product

up to 4.94%
Term
i

Loan term for the financial product

up to 40 years
Canadian Imperial Bank Of Commerce (CIBC)
CIBC Personal Car Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$7,500 minimum
Term
i

Loan term for the financial product

12 - 96 months
Car Loans Canada
Car loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$7,500 - $59,995
Rate
i

Effective interest rate on the product

up to 31.99%
Term
i

Loan term for the financial product

up to 96 months
Rifco
Auto financing
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$5,000-$100,000
Rate
i

Effective interest rate on the product

up to 31%
Term
i

Loan term for the financial product

up to 86 months
Eden Park
Car loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000-$50,000
Rate
i

Effective interest rate on the product

up to 22.9%
Term
i

Loan term for the financial product

up to 84 months
iA Auto Finance
Car loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$5,000-$50,000
Rate
i

Effective interest rate on the product

up to 29.99%
Term
i

Loan term for the financial product

up to 84 months
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All Laurentian Bank Of Canada’s reviews by february 2023
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