Personal Loan Or Line Of Credit: What Is The Difference?
Many Canadians often wonder whether they should take a personal loan or line of credit. However, there are common misconceptions about how both of them work. In this article, we’ll explain the differences between the two credit products to help… Read More
Debt Consolidation: How Do I Consolidate Debt With A Personal Loan?
The holidays are fast approaching! You’re probably sick of hearing us say it, but the holidays can be an exceptionally expensive season if you’re not careful. It’s tempting to go and use your credit card for everything this time of… Read More
What’s The Difference Between A Secured And Unsecured Loan?
This guest post is written by our partners at Fairstone. If you’re researching loans, you may ask yourself, “what’s the difference between a secured and unsecured loan?” We’ve broken down the differences between the loan types to help you decide… Read More
What’s The Difference Between Installment And Revolving Credit?
Borrowing against credit is helpful – it lets us make big purchases and cover unexpected expenses while paying for it with future income. Misusing credit, however, can negatively impact your credit score and your future ability to borrow money when… Read More
We’ve Lowered Interest Rates On Borrowell Personal Loans! What Does This Mean For You?
We know that high-interest credit card debt can be a huge burden. We also know how important securing a low-interest rate on a loan for your next big purchase can be. This is why we’ve lowered our interest rates by… Read More
Introducing: The Borrowell Personal Loan Calculator!
Debt has become a major issue in Canada. In fact, 2017 figures from Equifax show that consumer debt is now at an all-time high of almost $1.8 trillion – and this includes $90 billion in outstanding credit card debt! If… Read More
Should I Consider A Personal Loan To Maximize My RRSP Contribution?
We are now well into RRSP season, with the deadline of March 1st right around the corner! This means you have until then to contribute to your RRSP and have it applied to your 2017 tax return. If you haven’t… Read More
Is A Borrowell Loan Right For Me?
In addition to providing credit scores for free, Borrowell is in the business of offering unsecured personal loans. Somewhat ironically, we’re a lender that wants to help Canadians get out of debt, not into more of it. And that’s a… Read More
June 27, 2017Personal Loans
How Is Borrowell Different From Payday Lenders?
Around 2 million Canadians use payday loans annually. There are over 1,400 payday outlets in Canada – either as storefronts or online. What is the difference between a payday loan and other personal loan products? At first glance, one lender… Read More