Personal loans
An unsecured loan with fixed payments, for costs you want to spread over a set time.
$1,000 to $15,000 · 6 to 60 months · 9.99% to 34.99% APR on approved credit. Representative example
Personal loans at a glance
| Amounts | $1,000 to $15,000 |
|---|---|
| Terms | 6 to 60 months |
| APR | 9.99% to 34.99% on approved credit. Never above 35%. |
| Fees | [List every fee, or state “No application or origination fees”] |
| Prepayment | Pay early any time, no penalty |
| How funds are sent | Interac e-Transfer or direct deposit |
| Licence | Ontario [ON-000000] |
Typical uses
- Car repairs or replacing an appliance
- Moving costs or a security deposit
- Home repairs
- Medical or dental costs not covered by insurance
When this isn’t the right choice
A personal loan isn’t the right choice for ongoing everyday expenses like groceries or rent, or if you need money for only a few days. If repayments would stretch your budget, free credit counselling can help you look at other options first.
Estimate your personal loans payment
- Number of payments
- 36 monthly payments
- Cost of borrowing
- $2,640.28
- Total repaid
- $7,640.28
- APR used
- 29.99% (representative)
Estimate only, at our representative APR, not our lowest. Your rate depends on approval.
Representative example: borrowing $5,000 over 36 months at 29.99% APR gives monthly payments of $212.23. The total cost of borrowing is $2,640.28 and the total repaid is $7,640.28. Rates range from 9.99% to 34.99% APR on approved credit. No rate exceeds 35% APR. Rates & fees
Who can apply
- You have reached the age of majority in your province
- You live in a province we serve
- You have regular income you can show
- You have a Canadian bank account in your name
- You have valid government-issued photo ID
From rate check to funds
- Check your rate online in about 5 minutes.
- Verify your income and bank account.
- Review your offer and sign online.
- Receive funds by e-Transfer or direct deposit.
Personal loans questions
Do I need collateral?
No. Our personal loans are unsecured, so you don’t put up your car or home.
How much can I borrow?
Between 1,000 and 15,000 dollars, depending on your income, credit and province.
What rate will I get?
Your rate depends on your credit profile and income. You’ll see your exact rate, payment and total cost before you sign.
Can I pay it off early?
Yes, at any time, with no prepayment penalty.
What happens if I miss a payment?
Contact us before the due date. Missed payments can lead to fees and affect your credit. See hardship help.
Related reading
- How personal loan APR works in Canada (coming soon)
- Personal loan vs line of credit vs credit card (coming soon)
- How to budget for a loan repayment (coming soon)