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Compare Personal Loans

Compare interest rates and loan terms to find the best personal loan.

Best for Easy Approval

  • All credit scores considered
  • Instant decision
  • Funds in 15 mins

APR

29.90% - 46.90%

Loan Amount

$1,000 - $15,000

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Best for Affordable Repayments

  • Easy online application
  • No prepayment penalties
  • Excellent customer service

APR

12.99% - 39.99%

Loan Amount

$500 - $10,000

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Best for Flexible Terms

  • Same day funding
  • No prepayment fees
  • No hidden fees

APR

17.99% - 46.96%

Loan Amount

$500 - $15,000

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Loanz Personal Loan
Finder Rating: ★★★★★ 3.5 / 5 Go to site

Best for easy approval: Loanz Personal Loan

$1,000 – $15,000
Loan amount
29.9% – 46.9%
APR
12 - 60 months
Term
Min. credit score 570, min. income $1,200/month, 3+ months employed
Get an instant decision, and get your loan in as little as 15 minutes after approval.
  • Apply online in less than 5 minutes
  • Rebuild your credit
  • No collateral required (unsecured)
  • Use the money for any purpose
  • Interest rates up to 46.9% for bad credit
Loan amount $1,000 – $15,000
APR 29.9% – 46.9%
Term 12 - 60 months
Interest Rate Type Fixed
Min. Credit Score 570
Fees N/A
Turnaround Time 24 hours or less
Serviced Provinces All of Canada (excluding Quebec)
SkyCap Financial Personal Loan
Finder Rating: ★★★★★ 4.1 / 5 Go to site

Best for affordable payments: SkyCap Financial Personal Loan

$500 – $10,000
Loan amount
12.99% – 39.99%
APR
9 - 60 months
Term
Eligibility requirements: Min. income of $1,200 /month and stable employment
Get a personal loan customized to your needs with payments you can afford.
  • Reputable private lender
  • Approval in 24 hours
  • Easy online application
  • Pay off the loan anytime without penalty
  • No collateral required (unsecured)
  • Interest rates as high as 39.99% for bad credit
Loan amount $500 – $10,000
APR 12.99% – 39.99%
Term 9 - 60 months
Interest Rate Type Fixed
Min. Credit Score 550
Fees No fees except a $50 NSF fee
Origination Fee N/A
Turnaround Time 24 hours
Serviced Provinces All provinces and territories except Quebec and Nova Scotia
Spring Financial Personal Loan
Finder Rating: ★★★★★ 4 / 5 Go to site

Best for flexible terms: Spring Financial Personal Loan

$500 – $15,000
Loan amount
17.99% – 46.96%
APR
9 - 48 months
Term
Eligibility requirements: Min. income of $1,800 /month and 3+ months employed
Pay off your loan or make extra payments anytime without penalties or hidden fees.
  • 100% online application
  • Get a same-day loan via e-transfer
  • Bi-weekly or monthly payments
  • Rebuild your credit
  • No collateral required (unsecured)
  • Interest rates as high as 46.96% for bad credit
Loan amount $500 – $15,000
APR 17.99% – 46.96%
Term 9 - 48 months
Interest Rate Type Fixed
Min. Credit Score 500
Fees No fees except $30 NSF fee
Origination Fee N/A
Turnaround Time Within 24 hours
Serviced Provinces All of Canada
LoanConnect Personal Loan
Finder Rating: ★★★★★ 4.6 / 5 Go to site

Best for good credit: LoanConnect Personal Loan

$100 – $50,000
Loan amount
6.99% – 46.96%
APR
3 - 120 months
Term
Eligibility requirements: Currents debts must total less than 60% of income
Submit one application and get matched with multiple lenders. Interest rates start as low as 6.99%.
  • Easy online application to get offers from multiple lenders
  • Free to use
  • Options for all credit scores
  • Options for secured and unsecured loans
  • Interest rates can reach as high as 46.96% for bad credit
Loan amount $100 – $50,000
APR 6.99% – 46.96%
Term 3 - 120 months
Interest Rate Type Fixed
Min. Credit Score 300
Fees No application, origination or brokerage fees
Origination Fee 0
Turnaround Time Receive funds within as little as 24 hours.
Serviced Provinces All provinces
Loans Canada Personal Loan
Finder Rating: ★★★★★ 4.5 / 5 Go to site

Best for comparing options: Loans Canada Personal Loan

$300 – $50,000
Loan amount
5.4% – 46.96%
APR
3 - 60 months
Term
Eligibility requirements: Steady source of income
Fill out 1 application and get multiple offers from lenders.
  • Easy online application to connect with multiple lenders
  • Over 60 lenders
  • Free to use
  • Options for all credit scores
  • Options for secured and unsecured loans
  • Interest rates can reach as high as 46.96% for bad credit
Loan amount $300 – $50,000
APR 5.4% – 46.96%
Term 3 - 60 months
Interest Rate Type Fixed
Min. Credit Score 300
Fees No application, origination or brokerage fees
Origination Fee 0
Turnaround Time Receive funds within as little as 24 hours.
Serviced Provinces All of Canada

Overall representative example
If you borrowed $20,000 over a 5-year term at 9.50% APR (variable), you would make 60 monthly payments of $420.04 and pay $25,202.23 overall, which includes interest of $5,202.23. The overall cost for comparison is 9.50% APR representative.

How to apply for a personal loan

1. Figure out how much money you need

Crunch some numbers to figure out how much you need to borrow and how much you can afford to pay back each month. Also, compare different types of loans to find the one that suits your needs best.

2. Shop around

Look for lenders that offer the type of loan you need with eligibility requirements you can meet. Then, compare factors like rates, fees and terms.

3. Prequalify

If the lender offers it, fill out a quick pre-application with a few different lenders to learn which rates and terms you might get. Prequalifying usually doesn’t affect your credit.

4. Finish the application

After you decide on a lender, follow the steps to complete the full application and submit documents like pay stubs to verify your income.

What rates can I expect on a personal loan?

Personal loan rates typically range from 2% to 47%. The rate you get depends on the following factors:

  • Credit score. You need near-perfect credit to qualify for the lowest advertised rate.
  • Income. Lenders will likely check if you have enough regular cash flow to easily afford your monthly repayments.
  • Debts. The lowest rates go to borrowers with a debt-to-income ratio (DTI) below 20%.
  • Collateral. Securing your loan makes it less risky to the lender and gets you lower rates.
  • Loan amount and term. Some lenders may offer different rates depending on how much you want to borrow and how long you need to repay.

The cost of your loan depends on the loan term and your rate.

What goes into a personal loan APR?

Most lenders’ annual percentage rate (APR) tells you how much you’ll pay in interest and fees over one year. This makes it easier to compare the cost of loans with the same term.
The APR often includes an origination fee, which lenders charge after you sign your loan contract. But it doesn’t include penalties like late fees, nonsufficient funds (NSF) fees or prepayment penalties – which can all be avoided by paying your loan back on time and in full.

How to find the right personal loans lender

Ask yourself the following questions when comparing lenders:

  • Does it offer what I need? Check if the amount you need falls into a lender’s range and if it offers the type of loan you’re looking for.
  • Am I eligible? Make sure you meet the lender’s minimum credit score, income, age and other requirements before you apply.
  • What’s the APR? This gives you a quick snapshot of the loan’s total cost per year.
  • How long will I be in debt? Look at the loan terms available to make sure you’ll be out of debt in time to meet other financial goals, like buying a house or a car.
  • Will repayments fit my budget? Use the available loan terms and APR to figure out how much you might owe each month.
  • Are there any fees? Lenders may charge up to a 5% origination fee, which they take out of or add to the loan balance. This affects how much you need to borrow and your monthly cost.
  • Is it legit? Read customer reviews to look out for personal loan scams and red flags, and make sure its website is secure.

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