Canadian Western Bank personal loan interest rates & product overview

CWB operates primarily in Western Canada though it has a national presence. The chartered, full-service bank was founded in 1984 and has continued to expand from a single branch operating in Edmonton, Alberta, to a diversified financial institution providing specialized banking services.

How much will a loan from Canadian Western Bank cost? Use the CWB personal loan calculator below to find a monthly repayment estimate tailored to your budget. Input your desired loan amount and term or experiment with the numbers to explore different payment scenarios.

Terms from 1 to 5 years. Representative example: 5 year $10,000 loan with comparison rates from 7.99% to 46.96% APR would cost between $12,163 and $26,087, including fees. The interest can vary between $2,163 and $16,087.

CWB personal loan calculator

Calculator coming soon

CWBank personal loans review

CWBank currently offers various personal banking and lending solutions, including vehicle loans, RRSP loans, consolidation loans, and lines of credit.

CWBank loan features

Not sure which CWB personal loan is right for you? Here’s a quick breakdown of the top financial products offered by CWB under personal borrowing and loans:

Consolidation loans

If you’re dealing with multiple debts, then you know too well the struggle of keeping up with various repayment amounts, schedules, and interest rates. The good news is a consolidation loan lets you combine and simplify all your existing debts. When you have a single monthly payment and a fixed interest rate, not only will you have peace of mind, but it’s also easier to pay down your debt faster. The maximum loan term for CWB consolidation loans is 60 months/5 years.

Line of credit

With a line of credit, it’s possible to borrow only what you need and then get additional funds later on without having to apply again. This product comes with the following main features:

  • Borrow a minimum of $3,000
  • Only pay interest on what you owe
  • Access to funds in an emergency without reapplying
  • Secured and unsecured lines of credit are available
  • Pay off any amount without penalty
  • Choose the monthly repayment option that works for you
  • Manage your line of credit via your CWB chequing account

Vehicle loans

The CWB vehicle loan finances various vehicles, including new and used cars, boats, and motorhomes. It comes with the following features:

  • Choose a weekly, bi-weekly, semi-monthly, or monthly payment frequency for more flexibility
  • Down payment required
  • Interest rates are fixed, giving you more peace of mind with your repayments

RRSP loans

CWB RRSP loans enable you to maximize your RRSP contributions so you can benefit from tax savings. You can also benefit from the following features:

  • Weekly, bi-weekly, semi-monthly, and monthly payment options
  • Choose between a fixed or variable interest rate
  • Borrow up to $50,000, depending on the type of loan

How to apply for a Canadian Western Bank personal loan?

You can apply for a Canadian Western Bank loan by contacting them through their website or visiting a branch.

Check that you’re eligible

Before applying, it’s best to confirm that you qualify:

  • Be at least the age of majority in your province
  • Be a Canadian citizen or resident
  • Have a good credit score
  • Have a sufficient and reliable income

What you’ll need:

  • Contact and employment details.
  • Proof of income (pay stubs, bank statements, etc.)
  • Social Insurance Number
  • Other financial information, such as details about your assets, expenses, and liabilities.
  • Details about the loan you want


What other financing products does CWBank offer?

CWB also offers mortgages and credit cards. You can also apply for CWB equipment financing.

Can I apply online for a CWB personal loan?

To apply for a CWB loan, click on the link in the table above to be taken to CWB’s website, where you’ll be prompted to fill out a contact form.