It depends on what your local VO asks you for. If they ask you for updated proof of settlement funds only, you are free to give them only information regarding your settlement funds. If, however, they ask you for updated information about assets, liabilities and settlement funds (like on schedule 3), or if they ask you for all bank statements for the past 6 months ("all" means ALL, not just the ones you choose to show them), then you MUST disclose your new bank account and the loan you've taken. Hiding it is a misrepresentation that will result in instant rejection and a ban from Canada.
As to what to do about your loan, that is completely up to you.