Get a free, no obligation personal loan quote with rates as low as 9.90%
Get Started You can apply with no effect to your credit score
📅 Last Updated: October 6, 2023
✏️ Written By Caitlin Wood, BA

Personal loans are versatile credit products that can be used for any expense such as a car repair, a wedding, or a medical emergency. Depending on the lender, you can get personal loans between $500 to $35,000 with affordable rates and flexible terms.

However, the amount you qualify for will depend on your credit and overall finances. These loans can also be secured or unsecured and can come with variable or fixed rates, making it a flexible financial solution.

Filters
Loading...
Loans Canada
Loans Canada
Amount
Up to $50,000
Rate
Prime to 46.96%
Term
3-60 months
Fora
Fora
Amount
$1,000 - $10,000
Rate
19.69% - 46.9%
Term
Varies
Spring Financial
Spring Financial
Amount
Up to $35,000
Rate
9.99% - 46.96%
Term
9 - 78 Months
Fairstone Financial
Fairstone Financial
Amount
Up to $60,000
Rate
19.99% - 39.99%
Term
6 - 120
Bree
Bree
Amount
Up to $350
Rate
No Cost!
Term
-
Mogo Finance
Mogo Finance
Amount
Up to $3,500
Rate
9.9% - 47.72%
Term
-
easyfinancial
easyfinancial
Amount
$500 - $100,000
Rate
9.99% - 46.96%
Term
Varies
Cash Money
Cash Money
Amount
$1,500 – $10,000
Rate
Varies by province
Term
Varies
LoanMeNow
LoanMeNow
Amount
$500 - $1000+
Rate
28% to 32%
Term
3 Months
Nyble
Nyble
Amount
$150
Rate
No Cost!
Term
-
goPeer
goPeer
Amount
$1,000 - $25,000
Rate
7.5% - 31.5%
Term
36 - 60 months
Unfortunately we couldn't find you a provider with the given filters

The Loan You Want, When You Need It

From alternative personal loans to help deal with an emergency expense to debt consolidation loans to help tackle debt. Regardless of your situation, there is a loan option to meet your needs.

Personal Loans

From last-minute travel plans to an unexpected issue with your car, a personal loan is a great way for you to gain access to the money you need, quickly, affordably, and from the comfort of your home.

Bad Credit Loans

Having bad credit doesn’t mean that personal loans are out of your reach. You can still apply for and get approved for an affordable personal loan. And better yet, repaying your loan can help you build credit.

Short Term Loans

A short-term loan can help you cover the cost of an emergency expense and help you get back on track with affordable payments and convenient terms.

Installment Loans

The best alternative to predatory payday loans is an installment loan. With it, you can get a personalized repayment plan that will help you plan your budget around your payments.

Debt Consolidation Loans

Break the cycle of debt with a debt consolidation loan. You can consolidate your debt with a single loan, reduce your interest payable and save money. Get out of debt faster by consolidating your debt.

Emergency Loans

Life is unpredictable, but that doesn’t mean that your finances need to be. Emergency loans are the best option for those who find themselves in unexpected and expensive situations. Quick approval times and affordable payment plans mean you don’t need to put your life on hold to handle an emergency.

Car Loans

Whether you’re looking for the car of your dream or need something a little more practical to drive your family around, a car loan can help anyone afford the car they want and need. 

Estimate Your Monthly Payments

CALCULATOR

Credit Score 1
Your Interest Rate: 35 %
Loan Options 2
$
Result 3

Personal Loan FAQs

How do I apply for a personal loan?

To apply for a personal loan, you first need to choose a lender to work with. If you choose an online lender, next you should fill out and submit their online application. If approved you should hear back from the lender in a few days. You should also be prepared to provide further documents or information if the lender asks for it.

How much money can I get from a personal loan?

The amount you can qualify for depends on many factors, which may vary from lender to lender. But generally, your approval is based on your overall ability to pay down your loan, which is usually a function of your income and debt-to-income ratio.

How long will it take for me to get my personal loan?

Depending on the type of loan you apply for, typically it can take anywhere from 1 to 3 business days to receive your funds, sometimes even on the day you apply. To make sure you receive your money as quickly as possible, make sure you fully complete your application and promptly provide your lender with any additional information or documentation they may need.

Do I need to provide an upfront payment to get my loan?

No. Asking for upfront payments in any form is illegal. If a lender ever asks you to do this, it is likely a scam. Do not provide them with your personal or banking information and report to the Canadian Anti-Fraud Centre.

Do I need to provide security or collateral for a personal loan?

No, not necessarily. This depends on the type of loan you apply for. Borrowers who can provide security, for example, a vehicle, can often get approved for a larger loan. 

I have bad credit, can I still get a personal loan?

There are many lenders all across the country who provide all Canadians, regardless of their credit, with the loans, credit, and debt relief products they need. Keep in mind that certain loan products may require a specific credit score and a credit check. No lender can or will check our credit without your express permission.

Personal Loan Myths

Only people with great credit and high incomes can get approved for personal loans.

False. There are many lenders whose main goal is to provide all Canadians, regardless of their credit scores, with access to the personal loans, car financing, business financing, debt relief, and related services they need. Furthermore, having bad credit isn’t a permanent state, if you have bad credit and want to work toward improving it, there are many actionable steps you can take.

Only banks provide personal loans.

False. Maybe several decades ago this might have been more true, but now the financial world has changed. If your looking for a personal loan regardless of your credit or income there are alternative options available to you. Being rejected by your bank is no longer the end of the road for consumers who want to take out a personal loan.

You need a perfect credit score to apply for a personal loan.

False. Anyone, regardless of their credit score can apply for and get approved for a personal loan. Our number one tip for applying for a personal loan: always make sure you can afford it. Loans can open up so many doors, but if you can’t handle the payments, a loan can cause more issues than it’s worth.

Caitlin Wood Priyanka Correia Lisa Rennie Bryan Daly Cris Ravazzano Margaret Johnson Kale Havervold Liz Enriquez Sean Cooper Veronica Ott Corrina Murdoch Chrissy Kapralos

A Team of Experts

Get expert tips and guidance from a community of renown personal finance experts right here at Loans Canada. We're here to help you stay informed so you can make the best financial decisions.

Trusted by more than

1,500,000 Canadians

More From Our Experts

https://loanscanada.ca/wp-content/uploads/2024/06/woveo.png
Woveo Review

By Lisa Rennie
Published on June 18, 2024

Check out Woveo, a community based savings program that also provides access to a interest free line of credit which can help you build credit.

https://loanscanada.ca/wp-content/uploads/2023/12/Home-equity-loans-for-seniors.png
Home Equity Loans For Seniors

By Lisa Rennie

As a senior, getting a loan can be more difficult due to lower income and age restrictions. Thankfully, there are many home equity loans for seniors i...

https://loanscanada.ca/wp-content/uploads/2017/10/Debt-Consolidation-Loan-Application-Rejection.png
Debt Consolidation Loan Rejection: Reasons And What Can You Do?

By Bryan Daly

You applied for a debt consolidation loan to finally start tackling your debt but then you got denied. Now what?

https://loanscanada.ca/wp-content/uploads/2016/01/loan_payment-1.png
What Happens When I Can’t Make My Loan Payments?

By Caitlin Wood, BA

Are you missing loan payments? What happens If you can't pay your loan? Finf out what happens and what you can do.

https://loanscanada.ca/wp-content/uploads/2021/07/High-Cost-Credit-Legislation-in-Canada-1.png
Borrower Rights: High-Interest Loan Legislation In Canada

By Mark Gregorski

To better protect vulnerable borrowers, provinces have enacted legislation that sets boundaries on what alternative lenders can and can’t do.

https://loanscanada.ca/wp-content/uploads/2023/10/I-need-my-money-now.png
Need Money Today? Find Out Where You Can Get It

By Jessica Martel

Do you find yourself saying "I need my money today" often? Here are some simple and quick ways to get money quickly.

https://loanscanada.ca/wp-content/uploads/2023/09/Best-Bad-Credit-Loans.png
Best Bad Credit Loans in Canada 2024

By Bryan Daly

These are the best bad credit loan options in Canada right now. An easy list to make an easy choice. Here is everything you need to know!

https://loanscanada.ca/wp-content/uploads/2023/08/KOHO-Line-of-Credit.png
How Does a Line of Credit Work?

By KOHO

A line of credit is a less rigid credit option. You only pay interest on what you use. That means flexibility. Read this article to get the

Recognized As One Of Canada's Top Growing Companies

Loans Canada, the country's original loan comparison platform, is proud to be recognized as one of Canada's fastest growing companies by The Globe and Mail!

Read More

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.

Koho Prepaid Credit Card