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Cambrian Loans of march 2024

Get a Cambrian loan verified by our specialists. On 19.03.2024 there are 5 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
Offers: 5
Updated
14.03.2024
14:46
Best Quick Loan Today 19.03.2024*
Mr. Payday
Need a Quick Loan Now?
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Cambrian
Home Equity Line of Credit
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up to 80% of home value
Cambrian
Personal Line of Credit
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Take advantage of our loan selection system with a free credit check!

Cambrian
Personal Loan
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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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Cambrian
PayOff Loan
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Cambrian loans calculator
Calculation of a loan from any bank
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CAD
CAD
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1000 C$
50000 C$
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months
days
1
120
Interest rate
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Online Loan Application of March 2024
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1000 C$
10000 C$
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1
60

You are able to pick a loan with discount. You can receive money in: 15m

Online Loan Application of March 2024
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Loan comission
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Here is the average overpayment on a loan based on data from lenders in Canada.

2 050 C$
More
Royal Bank of Canada
4.4
RBC provided me with a loan at a very low interest rate, helping me save on loan payments.
Review
MDG
1
Removed money from my bank account, to apparently verify my bank account. Then denied my application because I live in a unorganized township that does not have a physical address...
Review
Money Mart
1
Bad customer service they can never fix your problems...
Review
GoDay
1.6
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review

Types of Cambrian loans

Cambrian Credit Union provides various lending solutions for the different borrowing needs of clients.

  1. Personal Loans. With a personal loan, you can get financing for any of your borrowing needs. Personal loans involve a set payment schedule so that you can pay off the debt as planned. The interest rate you will qualify for is subject to credit approval.
  2. PayOff Loan also known as a consolidation loan allows you to pay off higher-interest debt with a personal loan that charges a lower rate. Instead of making multiple payments by their due date, you can make one monthly loan payment. With a payoff loan, you can save thousands of dollars in interest and become debt-free faster.
  3. Line of Credit provides you with financing up to an approved credit limit that you can use whenever you need it. With a line of credit, you can pay only interest on the amount you borrow.
  4. Home Equity Line of Credit enables you to borrow up to 80% of your home’s value. The rate you will qualify for is subject to credit approval, although it is typically lower than a personal loan rate.

How to apply for a Cambrian loan?

You can apply for a Cambrian loan online. Go to the Cambrian website, select “Apply” from the top navigation menu, and click “Loan”. Then, fill out an online application form with the following details:

  • Your email
  • Whether you are a Cambrian Credit Union member
  • Whether you have completed Cambrian's mortgage affordability calculator
  • Whether you are already working with a Cambrian Loans Officer for this application
  • The product you are applying for
  • The borrowing purpose
  • Whether it is a joint application
  • Whether the loan will be used by or on behalf of a third party
  • Your first name
  • Your last name
  • Your date of birth
  • Your phone number
  • Your email
  • Your address
  • Your housing status
  • Whether you have lived at this address for more than 2 years
  • Your employment status
  • Your employer’s name
  • Your job title
  • For how long you have been working there
  • Your monthly gross income
  • Your other income
  • The financial obligations you have (check all that apply)
  • The assets you own (check all that apply)

Once you fill out the required fields, review your applicant information and click the “Submit” button.

Alternatively, you can book an appointment with a Cambrian advisor.

Requirements

To apply for a loan from Cambrian, you must be a Canadian resident of at least 18 years old.

There is no need to be a Cambrian member to apply for a loan.

When reviewing your loan application, Cambrian advisors will look at your credit score, income, assets you own, and financial obligations you have. When granting a loan approval, Cambrian usually looks for a credit score of 625 or higher.

Pros and cons

The advantages of Cambrian loans are:

  • Lending solutions for different borrowing needs
  • An opportunity to apply online
  • Availability of loans to non-members
  • Easy management of your loan through online and mobile banking

Here are the disadvantages to be aware of:

  • The lack of transparency about the borrowing rates
  • The availability of loans to Winnipeg and Selkirk residents only

How to make a payment?

You can have your loan payments deducted automatically from your bank account. You can also transfer funds between your accounts via online or mobile banking or pay in person at a Cambrian branch near you.

FAQ

How much will I have to pay for my loan monthly?

To get an idea of your regular loan payments, you can use an online loan payment calculator tool. To proceed with calculations, enter the essential loan parameters — the loan amount, payment frequency, amortization period, and interest rate — into the designated fields.

What happens in case of delayed loan payments?

In case of late loan payments, penalties may apply. Penalties, in turn, may negatively impact your credit rating.

To prevent these unwanted situations, contact Cambrian beforehand if you feel like you may be late on your loan payments.

Can someone else pay for my loan?

Anyone can pay for your loan. Keep in mind though that you as a borrower are the only person who is legally responsible for your loan repayment.

You can visit your Cambrian branch to arrange the repayment of your loan by someone else.

Loan Terms