Personal Loan Showdown: Desjardins vs. National Bank

Desjardins shines with their credit union advantage, offering some of the lowest starting rates in Canada. Especially good for Quebec residents who are members, this loan gives you the flexibility to choose between fixed and variable rates. However, check the membership requirements if you're not already a member.

National Bank competes well with a 7.95% APR, and its deep branch network in Quebec makes it convenient for in-person service. It's a solid choice for existing customers or those who value face-to-face interaction. But if you want the absolute lowest rates, Desjardins might have the edge.

Mogo is the go-to for a quick cash fix, offering fast online lending with the added benefit of soft credit checks. However, be prepared for rates that can soar up to 47% if your credit score isn't stellar. It's ideal for small, short-term loans when speed trumps cost.

Fairstone offers another speedy option with its vast branch network across Canada. While their rates start at a hefty 29.99%, they cater to those with challenged credit who need to deal with real people. It's a last resort when banks say no.

BMO offers personal loans starting at just $2,000, making it accessible for smaller needs. This is a great option if you're already banking with BMO and need a small loan without jumping through hoops.

Coast Capital Savings provides a no-fee approach with free chequing and competitive loan rates. It's ideal for BC residents who want a credit union experience with no hidden costs.