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Vancity Loans of february 2023

Get a Vancity loan verified by our specialists. On 08.02.2023 there are 11 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 11

Updated
05.01.2023
16:41
Vancity RRSP Top-Up 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
starting at $5,000
Vancity RRSP Re-Advanceable 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
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 $5,000
Get Your FREE Quote Today!
Get Your FREE Quote Today!

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

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
Term
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Loan term for the financial product

6 months - 7 years
Residential Farming and Hobby Farms
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™
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1000
Microloan
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
up to $75,000
Term
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Loan term for the financial product

up to 84 months
Vancity Planet-Wise Transportation 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
starting at $1,500
Term
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Loan term for the financial product

up to 10 years
Planet-Wise™ Home Renovation 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
starting at $3,500
Term
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Loan term for the financial product

up to 15 years
Vancity Planet-Wise Renovation Solutions
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
Online Vancity Fair & Fast 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
$100 - $2,500
Rate
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Effective interest rate on the product

19%
Term
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Loan term for the financial product

2 weeks - 2 years

Vancity loans calculator

Calculation of a loan from any bank
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Online loan application

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Other types of loans

How to get a loan at Vancity?

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
Vancity Loans of february 2023

Types of Vancity Loans

There is a range of lending solutions at Vancity.

  1. Personal Loan. With a personal loan from Vancity, you can get financing for any of your borrowing needs for a term of six months to seven years. You can choose between a fixed and variable rate, and a weekly, bi-weekly, semi-monthly, or monthly repayment schedule. The early repayment of a personal loan is available at any time, penalty-free. If the cost of your short-term borrowing is less than $45.00 at the time of loan set-up, your interest rate will be 17.90% per annum.
  2. Online Vancity Fair & Fast Loan™. A Vancity Fair & Fast Loan™ serves as an alternative to a payday lender. With this loan, you can get financing of up to $2,500 at a fixed 19% interest rate. Once you complete your Vancity Fair & Fast Loan™ application online, you can get funds deposited to your account in as little as ten minutes. The loan terms can range from two weeks to two years.
  3. Line of Credit. With a Vancity Line of Credit, you can get revolving access to financing in the amount up to your credit limit ($5,000 maximum). You can access funds at any time and pay interest only on the amount you use. The interest rate for a line of credit is 17.75%.
  4. Vancity Planet-Wise™ Home Renovation Loans. If you have energy-efficient home renovations in mind, you can get the advantage of Planet-Wise™ Home Renovation Loans and borrow from $3,500 to $25,000 for up to 15 years. These home renovation solutions are available in a form of a term loan, line of credit, and home equity line of credit (HELOC). Planet-Wise Renovation loans feature a low interest rate equal to Vancity Prime (5.45% at the moment of writing this review) plus a fixed ARR ranging from 0.4% to 3.0%.
  5. Vancity Planet-Wise Transportation Loan. To finance a purchase of a vehicle that emits less carbon (such as pedal bikes, e-bikes, scooters, electric cars, or hybrids), consider a Planet-Wise Transportation Loan from Vancity. The minimum loan amounts are starting with $1,500 and the terms range from 5 to 10 years. Depending on a purchase you have in mind, the interest rate will equal either Vancity Prime plus 1% or Vancity Prime plus 2%. You can repay your Planet-Wise Transportation Loan at any time, penalty-free.
  6. RRSP Loan. With this oan, you can optimize your RRSP contributions by either putting funds towards the current year's contributions or catching up on an unused RRSP contribution room from the previous years. You can also use your tax refund towards your loan payment. The interest rate for an RRSP Loan equals Vancity Prime plus 1% for the purchase of registered or non-registered term deposits of at least 1-year term.
  7. Peerloans and Microloans. For borrowers who might not qualify for conventional loans (newcomers to Canada, applicants with no credit history, or borrowers whose credit history is not perfect), there are Peerloans and Microloans at Vancity. The borrowing amount with these loans is between $15,000 and $75,000 depending on your specific needs, and the terms range from 60 to 84 months.
  8. Residential Farming and Hobby Farms. Vancity offers financing solutions for farmers and agribusiness owners, including microfinance and small growers fund, business term loans, and business operating loans. The term length for term loans can be up to 10 years. With operating loans, you get the flexibility to pay only interest on the amount you actually use and repay borrowed funds at your own pace.

How to apply for a Vancity loan?

To apply for most Vancity loans, you need to book an appointment with a Vancity advisor. Click “Book an appointment” next to the loan description, select the type of loan, and choose the date and time that works best for you. Loan application meetings are only available by phone call.

The only lending solution you can apply for online is Vancity Fair & Fast Loan™. To apply for Vancity Fair & Fast Loan™ online, you need to sign in using your Vancity membership login credentials.

Requirements

To apply for a loan from Vancity, you must be a British Columbia resident aged at least 19.

When reviewing your loan application, Vancity financial experts will evaluate your credit report and assess your creditworthiness. A Vancity Fair & Fast Loan™ involves no credit checks.

Pros and cons

Here are the benefits of Vancity loans:

  • A variety of lending solutions for various borrowing needs
  • An opportunity to choose between a fixed and variable rate
  • Flexible repayment terms
  • The early payoff of most loans is penalty-free

As for the disadvantages, we can name the lack of online application features with most loan types.

How to make a payment?

You can make a loan payment through the online banking account or the mobile app by transferring funds directly to your loan. You can also transfer funds to your loan over the phone with Vancity staff or Member Service Center staff. Or, you can make a loan payment in person at your local Vancity branch.

FAQ

How do I access funds with a line of credit?

You can access your Vancity Line of Credit at any time by cheque or at an ATM.

How much will I pay for my loan monthly?

To calculate the approximate amount of your regular loan payment, you can use the online loan calculator tool on the Vancity website.

Does a Vancity Fair & Fast Loan™ involve a credit check?

When reviewing your application for a Vancity Fair & Fast Loan™, Vancity financial experts won’t perform any credit checks. Your loan approval will depend on your income.