Best High-Interest Savings Accounts in Canada (2026)
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published April 2026 · Last updated June 2026 The best high-interest savings accounts in Canada combine a strong rate, no monthly fee, no minimum balance, and CDIC deposit protection. As of 2026, promotional rates from EQ Bank, Scotiabank, Tangerine, Simplii, CIBC, RBC, and BMO reach roughly […]
How Does a Joint Mortgage Work? A Complete Canadian Guide
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published April 2026 · Last updated June 2026 How does a joint mortgage work in Canada? Two or more borrowers combine their incomes to qualify for one home loan and share ownership of the property — but every borrower is legally on the hook for the […]
Co-Signing a Car Loan in Canada: What You Need to Know
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published April 2026 · Last updated June 2026 Should you co-sign a car loan in Canada? Co-signing a car loan puts your own credit and finances on the line — if the borrower misses payments, the lender comes straight to you for the full balance. Before […]
Is Mortgage Interest Tax Deductible In Canada?
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published April 2026 · Last updated June 2026 Is mortgage interest tax deductible in Canada? For your personal home, no — unlike the United States, Canada does not let you deduct mortgage interest on your principal residence. But that interest does become deductible when you borrow […]
Where Can You Get Free Bank Accounts In Canada?
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published April 2026 · Last updated June 2026 Where can you get a free bank account in Canada? Online banks like Simplii, Tangerine, Neo, and EQ Bank offer genuinely no-fee chequing and savings accounts with no minimum balance, and many credit unions do too. The Big […]
Can I Transfer My Car Loan To Someone Else?
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published April 2026 · Last updated June 2026 Can I transfer my car loan to someone else in Canada? Sometimes. A few lenders allow a “loan assumption” if the new borrower passes their credit and income checks, but most major banks do not. More often you […]
Co-Signer vs Guarantor in Canada: The Key Differences
Co-signer vs guarantor in Canada explained: a co-signer is liable from day one, a guarantor only if you default. Compare risks, credit impact, and when each is used.
Debt-to-Income Ratio Canada: What It Means and Why It Matters
Debt-to-income ratio in Canada explained: how to calculate your DTI, what counts as a good ratio, how it affects loans and the mortgage stress test, and how to improve it.
How to Get a Guarantor Loan in Canada: Step-by-Step Guide
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published May 2024 · Last updated June 2026 Struggling to get approved on your own? A guarantor loan lets someone with stronger credit back your application, so a lender is more comfortable approving you. The guarantor promises to repay if you cannot. Here is how to […]
The Consumer Proposal Process in Canada: A Complete Guide
By Jason Williams, Personal Finance Editor at Loanspot.ca · Published May 2024 · Last updated June 2026 Drowning in debt and wondering how a consumer proposal works? A consumer proposal is a legally binding agreement, filed through a Licensed Insolvency Trustee, that lets you repay part of what you owe over up to five years […]