Get your payments back on track ✅
TD personal loans are designed to help Canadians handle life’s bigger expenses — whether you’re consolidating debt, renovating your home, or preparing for a major milestone.
This guide explores loan amounts, rates, features, and the application process, helping you decide if a TD personal loan is right for you.
What is a TD personal loan?
TD offers fixed-term personal loans that provide a lump sum of money to cover a wide variety of financial needs. Whether it’s consolidating high-interest debt, covering medical expenses, or making a large purchase, TD personal loans are flexible enough to support many goals.
💰 The borrowed amount is repaid through regular instalments over a fixed period.
Loan amounts and repayment terms
You can borrow between $2,000 and $50,000, with repayment terms from 1 to 7 years. Loan payments are made on a schedule that fits your budget — options include monthly, bi-weekly, weekly, or semi-monthly.
📌 Payments include both interest and principal, with interest representing a larger portion in the early stages.
Interest rate options
TD offers both fixed and variable interest rate options:
- Fixed rate: Your interest rate stays the same for the entire loan term, which helps with budgeting and planning.
- Variable rate: Your rate may change based on the TD Prime Rate. If the rate decreases, you pay off your loan faster. If it rises, more of your payment goes toward interest.
Expected interest rate range
Your interest rate depends on your:
- Credit score and history
- Income level
- Existing debts
- Employment and housing stability
📢 TD calculates interest daily on the outstanding loan balance, and strong credit profiles typically qualify for lower rates. You can use TD’s calculators to estimate your loan cost before applying.
Flexible repayment options
TD provides several features to support flexible repayment:
- Early repayment is allowed without penalties in most cases
- You can choose a payment schedule that aligns with your paydays
- Online banking (EasyWeb) lets you view loan details and monitor progress
- If needed, you may be able to renegotiate terms due to life changes
How to apply — step by step
1️⃣ Gather required documents:
- Government-issued ID (valid and unexpired)
- Proof of income (pay stubs or tax documents)
- Expense records (housing, bills, credit obligations)
- Banking details for deposit and payment scheduling
2️⃣ Apply your way:
- Online (for existing TD customers) — Apply here
- In person — Book an appointment
- By phone — Call 1-866-222-3456
3️⃣ Get a decision:
- In many cases, you’ll receive an instant decision
- If your application requires more review, a TD representative will follow up
4️⃣ Receive your funds: If approved, the money will be deposited into your account.
What TD looks for when reviewing applications
TD evaluates:
- Your credit score and repayment history
- Income stability and existing debt
- Employment and housing consistency
- Availability of a co-signer if needed
⚠️ Applicants new to Canada or without a long credit history may improve their chances with a co-signer.
Optional loan protection
TD offers Loan Protection Insurance, which includes:
- Loan Life Insurance: Covers up to $250,000 in case of death or accidental dismemberment
- Loan Disability Insurance: Covers up to $2,000/month for up to 60 months if you become disabled
Coverage is optional and includes a 30-day free review period. Discounts may apply if multiple people are insured on the same loan.
Tips for a smoother approval
- Check and improve your credit score before applying
- Pay down other debts to strengthen your financial profile
- Apply with complete and accurate documentation
- Use TD’s tools to plan your borrowing:
✅ Want help choosing the right TD borrowing option? Visit a branch, apply online, or talk to a TD specialist to find the best fit for your goals.
