Personal Loans

At Clarien Bank, we love to see our clients achieve their dreams. That’s why we offer loans for every goal and lifestyle.

Personal Loans

This is a form of credit: you are approved to borrow a set amount of funds, to be paid back in regular installments over a set period of time (generally one to five years), at a variable interest rate. At Clarien Bank, we arrange loans personalized to meet your specific goals and resources. Whether you need the loan for education, debt consolidation, home furnishings, investments, travel or even medical expenses, we can help.

Home Equity Loans

You’ve put a lot of hard work and money into your home. Now your home can repay the favour. A Home Equity Loan is a form of personal credit secured using the equity you’ve built up in your home. (Equity is the difference between the market value of your home and the amount still owing on it.)

Compared with a Personal Loan, you’ll get a better interest rate and a longer term—the freedom you need to finance your next big life goal.

Home Improvement Loans

Your home has seen you through many changes. When your home itself needs some changes, Clarien Bank can help. Finance your small- to medium-scale renovation (typically less than $100,000) using your home equity as security. (Equity is the difference between the market value of your home and the amount still owing on it.)

Compared with a Personal Loan, you’ll get a better interest rate and a longer term—giving you scope to reimagine your home. Help us speed up your approval by providing copies of:

  • A fixed-price contract from a reputable contractor
  • Invoices and/or quotes for any owner-supplied materials
  • An up-to-date valuation of the existing property, plus valuation on completion
  •  The contractor’s all-risk policy with the bank noted as loss payee

Thinking about a larger renovation? Consider a Clarien Bank Construction/Home Renovation Loan.

Construction/Home Renovation Loans

Sometimes finding your dream home means building it yourself. Clarien Bank has the resources to help. Using the equity in your current home as security, you can finance your large-scale renovation (typically more than $100,000) or new-home building project. (Equity is the difference between the market value of your home and the amount still owing on it.)

Compared with a Personal Loan, you’ll get a better interest rate and a longer term—giving you the freedom to realize your dream home. Your Construction/Home renovation loan application should include:

  • a copy of your building permit (or approval in principle)
  • a copy of your approved site plans
  • quotes from reputable contractors (fixed-price, if possible)
  • quotes for owner-supplied materials
  • the independent quantity surveyor report detailing a draw-down schedule and/or cash flow analysis supporting the above
  • a Clarien Bank-conducted and up-to-date valuation of the existing site, plus valuation on completion
  • the contractor’s all-risk policy with the bank noted as loss payee