Fairstone Frequently
Asked Questions (FAQ)

From applying for your first loan to managing
your account online and more, find answers to
frequently asked questions about Fairstone

Getting a loan online

How does it work?

Fairstone offers an online loan quote tool to help Canadians find the loan that suits their needs, lifestyle and budget. Our instant loan quote will tell you how much money you qualify for, what your loan payments could be and what rate you can receive. Using some personal details and a soft credit check, we make sure you get the best loan and the best rate possible for you.

Is an instant loan quote the same as applying for a loan online?

No, we offer no-obligation loan quotes to help Canadians who are looking to learn more about loan products. Once you receive an instant quote, a Fairstone Lending Specialist will be in touch about the loan offer. If you’d like to apply for that loan, they’ll take you through the next steps.

How long does it take from the time I receive my online loan quote to when I find out whether I can get a loan?

Our loan quote tool is quick – it takes a minute or less – and simple to complete. Right after you submit your information, you’ll get a personalized loan quote that’s been designed to suit your needs and budget, and you’ll instantly find out how much money you can borrow, at what rate, and how much your loan payments could be. You’ll also receive a follow-up email as proof of your quote, and a call from a Fairstone Lending Specialist to help answer any questions you may have. If you’re interested in taking out the loan, the Lending Specialist will send your information to your local branch, where you’ll finalize your application and receive your money.

How do I know if I will qualify for a personal loan?

Get a no-obligation instant loan quote to find out how much money you qualify for, what your rate would be and how much loan payments could cost. If you like your loan quote, you can visit a branch and have your money the same day.

Does it cost anything to get a loan quote?

No, loan quotes are a free, no-obligation tool to help you understand what it’s like to have a loan.

Do I have to accept the loan quote provided to me?

No, you are not obligated to accept your loan quote. You’ll also receive a follow-up email as proof of your quote, and a call from a Fairstone Lending Specialist to help answer any questions you may have. If you’re interested in taking out the loan, the Lending Specialist will send your information to your local branch, where you’ll finalize your application and receive your money.

Does getting a loan quote affect my credit score?

No, our loan quote tool will not affect your credit score. Fairstone has partnered with Equifax to do a soft credit check whenever someone gets a loan quote, so we can provide the most accurate loan quote at the best rate possible. A soft check won’t cost you anything, and does not affect your credit score. If you decide to accept the loan offer and complete your application in the branch, we’ll do a hard credit check as the next step in getting you your money.