If you need assistance with funding for any purchase, personal loans are your best friend. Bank of Montreal BMO – Personal Loans keep you perfectly covered for both small and major expenses such as:
- Home repairs
- Family needs
- Fortuitous events
- Auto expenses
- Debt consolidation
Depending on your credit score, you can sign up for a loan plan that allows you to borrow a one-time amount of at least $5000 or more, to be paid under a fixed payment term. You no longer have to worry about budgeting as a set loan plan means all your monthly payments will come at predictable amounts.
The Bank of Montreal offers flexible repayment terms that usually ranges from 1 up to 5 years. Depending on your preference, you can settle for fixed payments done on a monthly, semi-monthly, bi-weekly, or weekly basis. You are also given the option to secure your loan with collateral, and choose between a fixed or variable interest rate.
If your financial situation is considerably stable, you are free to make additional or full payment without being subject to any prepayment penalties. Otherwise, you can defer up to a month’s payment for up to two times in a year.
If you’re worried about getting an illness or injury, Bank of Montreal BMO – Personal Loans include life and disability insurance options within your plan to keep you fully protected. Premiums are calculated and collected automatically upon monthly payment of the agreed personal loan amount.
Overall, Bank of Montreal’s personal loans are a great choice if you’re looking for a flexible and secure option for major financial transactions.