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Meridian Loans of february 2023

Get a Meridian loan verified by our specialists. On 08.02.2023 there are 3 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 3

Updated
06.01.2023
09:09
Home equity line of credit
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Get Your FREE Quote Today!

Take advantage of our loan selection system with a free credit check!

Personal line of credit
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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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1000
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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300
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1000

Meridian loans calculator

Calculation of a loan from any bank
Loan amount
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Specify the desired loan amount

CAD
CAD
USD
1000 C$
50000 C$
Loan term
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months
days
1
120
Interest rate
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Choose the interest rate on the loan

1 %
50 %

Online loan application

Loan amount
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Enter the desired loan amount

1000 C$
50000 C$
Loan term
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Specify the loan term for the calculation

1
120
Online loan application
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Loan amount
0 C$
Loan term
0 months
Loan comission
700 C$
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Other types of loans

How to get a loan at Meridian?

1. Fill out an application
1. Fill out an application

On our website you can fill out a short application form for a loan.

2. Pass a credit check
2. Pass a credit check

We will offer you to check your credit rating online for free.

3. Send your application online to the suggested companies
3. Send your application online to the suggested companies

After checking your credit rating, you will be able to send the loan application to the appropriate companies.

4. Wait for a response from the lender
4. Wait for a response from the lender

If necessary, the lender will contact you to clarify the details.

5. Get your loan!
5. Get your loan!

Get the money to your bank account or in cash at the bank branch.

Apply for a loan Your data is securely protected

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
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
Meridian Loans of february 2023

Types of Meridian loans

Meridian Canada offers lines of credit, personal loans, and HELOCs. Creditor insurance data and more helpful information can be provided at the Credit resource center.

  1. Personal loans are lump sums of money borrowed for any purpose. Rates are usually fixed, so you may pay a preset amount of money every month and settle the loan through a predetermined period. To get a new loan, you should reapply.
  2. Personal line of credit allows you to borrow money as you need up to the approved limit without reapplying for any purpose. You pay the interest only on the amount you use. The rate is variable and depends on the prime.
  3. Home equity line of credit (HELOC) is a line of credit secured by the equity in your home, which allows you to borrow more for larger purposes and pay only interest. The rate is variable, starting at 6.45%, counting as Prime + 0.50%.

Interest rates for unsecured loans depend on the credit history and capacity to repay the loan — employment, income, assets, and liabilities.

Meridian offers creditor insurance — group mortgage insurance (GMP) that covers life, disability, critical illness, and loss of employment for a personal loan and line of credit borrower. To apply, call the local branch.

Meridian also offers attractive mortgage options Hybrid mortgage, and a Flex Line Mortgage.

How to apply for a Meridian loan?

Sign in to your Meridian member online banking account, call +18665922226, or visit the branch. 

To apply online, press the "Apply online" button near the needed product. Then, fill out the application with your personal information, including name, birthdate, address, phone number, email address, occupation, marital status, SIN (optional), income, and asset data.

If you don’t want to apply online, talk to one of the Specialists.

Requirements

To qualify for Meridian loans and lines of credit, you should be a Meridian member who:

  • is a Canadian resident
  • is the age of majority in your province of residence
  • has a valid email

Pros and cons

Pros

  • Online application
  • Different types of a loan
  • Available for self-employed, new graduates, new to Canada
  • Ongoing access to cash
  • Flexible payments

Cons 

  • You must be a Meridian member to apply
  • Luck of information about loans at the official website
  • Must go through a full credit check
  • No student loans
  • Large late loan payments and NSF fees

How to repay a Meridian loan?

Contact your Meridian branch or advisor directly if you want to make a lump sum payment. You can also call the Contact Centre at 1-866-592-2226.

You could repay with your banking account preset during the application online or using the mobile app to set up recurring payments. It's usually convenient to use a direct debit to make repayments, as late fees are charged. With Meridian, you may avoid a penalty if you request to skip a payment (only one per year).

FAQ

What are Meridian loan rates?

Meridian Credit Union unsecured loan and line of credit interest rates are individually determined and affected by multiple factors such as your credit score and history, income amount, employment history, loans, and credits with other financial institutions. Therefore, HELOC rates are set like the prime rate plus 0.5% and may fluctuate.

What if I don't make my Meridian loan payments?

If you can't repay your mortgage or loan, you can skip a penalty-free monthly payment a year. You can request to skip a payment online, through your mortgage or loan payment options, or call the Contact Centre at 1-866-592-2226. Also, Meridian specialists may find a solution tailored individually to your situation. Note: late loan payment and non-sufficient funds fee is $48.

What is a Meridian HELOC?

A home equity line of credit or HELOC is a lending product — a line of credit secured by the equity of your house. Usually, clients borrow for a bigger purpose but may not have sufficient income to qualify for an unsecured loan or aren't satisfied with a potential interest rate. With HELOC, they may get a lower rate and larger limit and pay interest-only payments on the borrowed amount. The Meridian HELOC rate is variable, starting at 6.45%, counting as Prime + 0.50%