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NBC Personal Loans Overview

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The table below offers a snapshot of National Bank of Canada personal loan options. Whether you’re looking to cover expenses like home improvements, a wedding, or a holiday abroad – NBC can make it happen.

How much will a loan from NBC cost? Use the NBC personal loan calculator below to get a monthly repayment estimate that matches your budget. Simply input your desired loan amount and term, or play around 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.

NBC personal loans review

At a glance, NBC offers various personal loans and student financing as well as RRSP loans and lines of credit.

NBC loan features

Here are some key features and benefits of NBC loans in more detail:

  • Two main options. NBC loan types include variable rate loans and fixed-rate loans. Fixed-rate loans offer an interest rate that never changes, meaning you’ll enjoy the benefit of regular payments. In contrast, variable-rate loans will have a rate that’s adjusted every month, allowing you to save if rates drop.
  • Personalised rates. The interest rate you get when you apply is based on your credit score and authorised limit.
  • No penalties for early exit. You can clear your debt earlier by making additional repayments without penalty.
  • Co-borrowing allowed. You can add a second borrower to your application. Please note that if this is your spouse, both of you will be responsible for payments even after a divorce.
  • Defer loan payments. You can defer up to two payments to the end of your loan term if you have a fixed-rate loan. However, you can only defer one payment per loan term if you have a variable-rate loan.
  • Loan insurance. You can opt for loan insurance that covers your payments in the event of death, disability, or critical illness.
  • Flexible repayment options. It’s possible to change your repayment frequency and dates.

How to apply for an NBC personal loan?

Quebec residents can apply online by making an appointment at the nearest branch or calling 1-888 835-6281. If you’re not a Quebec resident, you can only apply by making an appointment at a branch.

Check that you’re eligible

To qualify, you must:

  • Have reached the age of majority in your province
  • Be a Canadian citizen or permanent resident
  • Have a reliable and steady source of income
  • Not have been refused credit in the past six months
  • Not have declared bankruptcy in the past seven years
  • Meet the income and credit criteria.

What you’ll need:

  • Your address, telephone number, and those of your employer
  • Social Insurance Number
  • Financial information, such as your monthly income, expenses, assets, and liabilities
  • Your bank details (if you do not bank with NBC)
  • Your desired loan amount and purpose

Applying online takes between 5 and 10 minutes. Once you submit your application, you’ll receive a response within 24 to 48 hours.

 

NBC Personal Loan Calculator
Repayment
Period
Loan
Amounts
Interest
Rate
EST Monthly
Repayment

NBC personal loans

NBC
NBC personal loans
6 months
to 60 months
$5,000
to $50,000
46.96%
APR
$1,060 Inclusive of fees
GO TO SITE
n/a
Featured personal loans

RBC personal loans

RBC
RBC personal loans
6 months
to 60 months
$5,000
to $50,000
15.00%
$707 Inclusive of fees
GO TO SITE
n/a

BestLoansCanada.com provides factual information in relation to financial products. While BestLoansCanada.com attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on BestLoansCanada.com is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with BestLoansCanada.com. BestLoansCanada.com recommends that you read the relevant product information before taking up any financial product offer. For more information please see BestLoansCanada.com's Terms of Use.

NBC FAQs

What’s the difference between an NBC personal loan and a line of credit?

A personal loan offers a lump sum that you pay off within a specific period. On the other hand, you only apply for a line of credit once and can continue to withdraw funds up to a limit whenever you need to.

Can I apply online for an NBC personal loan?

Yes, provided you’re a Quebec resident. Otherwise, you’ll have to visit a branch. If you have any questions, you can use the following contact details: 1 888 835-6281 options 3-2-2.

How long does it take for NBC to approve a loan?

Once you provide all the relevant information and NBC doesn’t have to conduct any follow-ups, you could be approved within one to two business days.

Learn more about NBC in this video

Bestloanscanada.com provides factual information in relation to financial products. While Bestloanscanada.com attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanscanada.com is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanscanada.com. Bestloanscanada.com recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanscanada.com’s Terms of Use and Services Guide.

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