Borrowell - Personal Loan
(Which Way To Pay Canada - 17/9/2015)
With interest rates from 5.6% APR and the facility to borrow up to $35,000 it is no wonder that people are turning to Borrowell to take out a personal loan. But do they actually provide a good deal to you? 

Well, the APR is certainly low! Most credit cards in Canada charge interest rates of 19.9% with department store credit cards charging as high as 29.9%. With rates at Borrowell starting at 5.9%  you are surely on to a winner – even if the rates creep up to 12%, 13%, 14%. Over the lifetime of a loan you could save yourself thousands of dollars. 

Borrowell lenders offer you fixed interest rates on your monthly repayments so you always know what you are paying back every month. There will be no nasty surprises and by the end of the term of the loan you will have fully repaid the loan. What is even better – you can make extra payments on your personal loan or pay the whole loan off if you choose. You will save the interest you would have otherwise paid and you will not be charged any prepayment penalties or fees for early repayment.

If you have poor credit or a bad credit history and you are worried about a credit check on your name making this worse, you do not need to worry with Borrowell. They do what is a called a “soft inquiry” when they check your rate so your credit check will not effect your credit score. 

Borrowell is ranked 5 out of 5. Based on 1 review.

5 Star Rating
1 Star: 1 Star RatingPoor
In relation to other products, has performed badly and has little or no worthwhile benefits.
2 Stars: 2 Star RatingBelow Average
Has some features of value, but in comparison to others performs below standard.
3 Stars: 3 Star RatingAverage
A fair product with regards to its competitors - has no outstanding features or benefits.
4 Stars: 4 Star RatingGood
In comparison to other products performs above standard, has beneficial features.
5 Stars: 5 Star RatingExcellent
Performs well above standard in comparison, has exceptional features and benefits.

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