How to get a $20,000 Personal Loan in Canada

If you are looking for a larger personal loan of at least $20,000, then you are ideally looking for an unsecured personal loan. While the interest rates on unsecured loans are a little higher than those on secured loans, there is no collateral attached to the loan. That being said, you do want to verify the interest rate is good and you can afford to make the payments. Ideally you would want to look for an open loan as well. This means that you can put payments on the principal of the loan whenever you want. You can also pay it off early in full, all without a penalty attached. When you are applying for this kind of loan, though, you want to verify that you have a shot of getting approved.