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Amber Financial Personal Loan review

Apply for a personal loan of up to $50,000 and receive a decision within 5 minutes with this Canadian online lender.

To be eligible, you must be a Canadian resident, at least 19 years old and have a credit score of 651 or more, without a history of bankruptcies or overdue accounts.

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9.90% - 49.96%

Interest Rate


Max. Loan Amount


Min. Credit Score

30-second take

  • Consider Amber Financial if you have a credit score of 651 or more and a clean credit history free from bankruptcies, unpaid collections and overdue accounts, which are this lender’s key eligibility criteria.
  • Think of something else if you live in Quebec, Saskatchewan or Nova Scotia. These provinces aren’t serviced by Amber.

Expert review

Amber Financial is a great online lending option for Canadian residents as long as your credit score and credit history are in great shape. While you must have a credit score of at least 651 to qualify, applicants do not need a minimum income nor do they need to be employed. If you don’t have a credit history in Canada at all, Amber says it can provide a personalized quote for a loan to help you establish your credit in the country. Apply completely online and receive a decision on your application within minutes.

What are the benefits of Amber Financial loans?

  • Easy online application. Amber is an online-only lender, so borrowers can apply wherever they have an Internet connection and sign off on their contract electronically.
  • No early repayment penalties. Borrowers can pay off some or all of their loan early at any time without incurring any additional fees.
  • No minimum income required. While some lenders have a minimum monthly income threshold to meet, Amber doesn’t have this requirement. You can apply if you’re unemployed as long as you have a source of income, such as foreign or investment income.
  • Loan flexibility. Apply for between $500 and $50,000 with increments of $100, with loan terms of up to 5 years. You also have the freedom to use the money as you’d like.
  • No fees. Amber Financial does not charge extra fees as long as you have enough money in your bank account for your loan repayments. It will charge a $50 NSF fee for insufficient funds.

What to watch out for

  • Potential for steep interest rates. While rates start at 9.9%, some borrowers with less-than-perfect credit may be offered rates that are as high as 49.96%.
  • History of bankruptcies not permitted. If you have a mark on your credit history, from bankruptcies to unpaid collections or overdue accounts, you may not qualify for an Amber loan.
  • Not available across the country. Amber doesn’t provide personal loans in Quebec, Saskatchewan or Nova Scotia.
  • No in-person help. Amber provides phone, email and SMS customer support, but there are no bricks and mortar locations for in-person assistance.

Alternatives to Amber Financial personal loans


Finder Rating: 3.5 / 5

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29.90% - 46.90%

Loan term

12 - 60 months

Loan amount

$100 – $50,000

Min. credit score


Eligibility Requirements

Min. credit score 570, min. income $1,200/month, 3+ months employed


Finder Rating: 4.1 / 5

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19.99% - 39.99%

Loan term

9 - 60 months

Loan amount

$500 – $15,000

Min. credit score


Eligibility Requirements

Min. income of $3,333/month, full time employment/pension

Am I eligible?

To qualify for an Amber personal loan, you’ll need to meet the following requirements:

  • Be a Canadian resident, 19 years of age or older.
  • Have a credit score of 651 or higher, with no previous, pending or current bankruptcies, unpaid collections or overdue accounts.
  • Proof of income to be able to afford the loan (via 2 of your most recent pay stubs or 3 of your most recent notices of assessment from the Canada Revenue Agency).
  • Have an active chequing account that can receive direct deposits.

How do I apply for an Amber Financial personal loan?

If you meet the eligibility criteria and you’re ready to apply, simply follow these instructions:

  1. Head to and click on “Apply Now” on the homepage.
  2. Follow the prompts on the application page. Identify how much you’d like to borrow and then provide your personal information, including your full name, birthday, mailing address and contact information.
  3. Follow the prompts again to fill in your financial information, such as your housing status, employment status, annual income, monthly expenses, Social Insurance Number (optional) and credit score range.
  4. Agree to Amber Financial pulling your credit information, then hit “Continue” when you’re ready.
  5. If your request is approved, you will receive a few loan options, showcasing interest rates, approved loan amounts and fixed monthly payments.
  6. After you’ve selected an offer, you must upload the front and back of your driver’s licence for identity verification and submit your banking details.

Compare personal loans

1 - 6 of 6
Name Product Interest Rate Loan Amount Loan Term Requirements
Loans Canada Personal Loan
5.4% - 46.96%
$300 - $50,000
4 - 60 months
Requirements: min. credit score 300
Spring Financial Personal Loan
9.99% - 46.96%
$500 - $35,000
6 - 60 months
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500
SkyCap Financial Personal Loan
19.99% - 39.99%
$500 - $15,000
9 - 60 months
Requirements: min. income $3,333/month, full time employment/pension, min. credit score 600, no bankruptcy
LoanConnect Personal Loan
6.99% - 46.96%
$100 - $50,000
3 - 120 months
Requirements: min. credit score 300
Mogo Personal Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Requirements: min. income $13,000/year, min. credit score 500
Fairstone Secured Personal Loan
19.99% - 24.49%
$5,000 - $50,000
36 - 120 months
Requirements: must be a homeowner, min. credit score 560

Is Amber Financial legitimate?

You’re in safe hands with this Canadian company that was established in 2015. It has offices in Vancouver and Toronto, provides phone, email and SMS customer service support and offers a slate of loan products, including mortgages and investment opportunities.

Amber has also been accredited with the Better Business Bureau since 2016 with an A+ rating and has an active online presence across major social media platforms like LinkedIn, Instagram, Twitter and Facebook.

I got the Amber Financial Personal Loan, now what?

Once you’ve signed off your loan, Amber will direct deposit the funds into your bank account within 1 to 3 business days. After that, the onus is on you to make sure you have sufficient cash in your bank account for automatic withdrawals from Amber. Amber will send you an email reminder 3 days before your payment is due. Keep in mind, if you’re late with a payment, you’ll be charged a $50 NSF fee.

You can also choose to repay your loan via bank transfer, Interac e-Transfer, credit card or cheque. You can also make extra payments or pay off the entire balance at any time, without incurring any penalties.

Bottom line

If you’re searching for an online loan, it’s worth requesting a quote from Amber Financial, especially if your credit is in good standing. Interest rates start at 9.9%, you don’t need to have full-time employment to qualify and loans offer flexibility with amounts, terms and repayment plans.

Do your homework to make sure you qualify, and don’t forget to compare personal loans to make sure you’re getting the best interest rates based on your financial situation.

Frequently asked questions

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