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Best loan apps in Canada

Check out some of the best and most convenient loan apps for you, no matter how much or little you need.

If you’re in the market for the best loan apps, you’ll have noticed there are a wealth of options out there. From small cash advances, payday loans, long-term personal loans and more, it can be hard to sift through the noise and find the best fit for your needs.

No matter what kind of loan app you’re looking for, we’ve cut your workload down and provided a list of the best loan apps in Canada right now.

Summary of the best loan apps

Best cash advance apps

Best payday loan apps

Best personal loan apps

Best cash advance apps

These are the best apps available for easy access to a cash advance. Cash advance apps are designed to provide customers with all credit scores with a small loan amount to cover emergency expenses before payday. You can get quick access to funds with easy application processes, and the best apps offer zero interest and minimal extra fees.

Best for loan amounts: Bree

Bree Early Pay
Not yet rated
Go to site Read review

$20 – $350

Loan Amount

Starting at 0%

APR

Next pay cycle (61 days max.)

Term

Bree is a new entrant to the short-term loan market in Canada, having launched in 2021. The company specializes in emergency short-term loans intended to get you through to your next payday without going into the overdraft. These loans come with zero interest, but there is a fee for same-day funding which varies depending on your loan amount. There is also a $2.99 monthly membership fee.

Why it's one of the best

Zero interest. Bree won't charge you any interest on your loan, and express delivery fees are optional. You only have to pay a $2.99 monthly membership fee.

Customer service. This provider takes pride in providing quality customer service. Online reviews are so far fairly positive.

No minimum income. Bree doesn't require borrowers to meet any minimum income levels to be approved.

  • Easy to apply
  • 0% interest
  • No late fees
  • No credit check
  • $2.99 monthly membership fee
  • Small loan amounts (up to $350)
  • Extra fee for same day funding
Loan amount $20 – $350
APR Starting at 0%
Term Next pay cycle (61 days max.)
Fees 0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance)
Turnaround time Within 8 hours with express delivery (fee is based on the advance amount) and up to 3 business days for standard delivery
Serviced provinces All provinces and territories

Best for credit building: Nyble

Nyble Credit Line
Not yet rated
Go to site Read review

$30 – $150

Loan Amount

Starting at 0%

APR

30 days, extendable

Term

Nyble is an online financial platform that provides interest-free lines of credit up to $150. You won't need a credit check to apply, and there are no late fees to worry about. This short-term loan will be automatically deducted from your account on your next payday, but you have the option to extend the deadline as much as you need to.

Why it's one of the best

No interest. Nyble provides customers with a genuinely interest-free short term emergency loan.

Accepts diverse income. You won't necessarily have to be employed to be approved, as Nyble accepts multiple forms of income to repay your loan.

Credit building. Repaying your Nyble loan on time can help improve your credit score.

  • No interest charges
  • No hidden fees
  • Easy to apply
  • Can improve credit score
  • $11.99 per month fee for instant transfers
  • Small loan amounts
Loan amount $30 – $150
APR Starting at 0%
Term 30 days, extendable
Fees 0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding
Turnaround time 1-30 minutes with a paid membership or 1-3 business days with a free membership.
Serviced provinces All provinces and territories

Best for people without a full-time job: KOHO

KOHO Cover
Not yet rated
Go to site Read review

$20 – $250

Loan Amount

Starting at 0%

APR

Flexible

Term

KOHO Cover offers users a convenient, interest-free cash advance service designed to help you manage your short-term financial needs without the fuss of a regular loan. Cover lets you borrow up to $250 instantly through the KOHO app, or you can withdraw funds from an ATM.

Why it's one of the best

No interest or credit checks. KOHO Cover provides cash advances with no interest charges, hidden fees or credit checks.

Flexible repayment. KOHO doesn't require you to pay within a specific time frame, and there are no late fees either.

Quick access to funds. Once you've got an account with KOHO and your request for Cover is approved, you'll have instant access to your funds—no waiting around.

  • No interest charges
  • No hidden fees
  • Fast funding
  • Requires KOHO membership plan &amp
  • Cover monthly fee
  • Limited to $250 maximum
Loan amount $20 – $250
APR Starting at 0%
Term Flexible
Fees subscription fee starting at $2/month
Turnaround time Immediately
Serviced provinces All provinces and territories
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.

Best payday loan apps

If you’re looking for bigger loan amounts than those available through the cash advance apps above, you might find the right fit here. Payday loan apps are short-term loans that accept bad credit, just like cash advance apps. You can typically apply for higher loan funding, but you’ll also get very high interest rates.

Best for 24/7 instant loans: iCash

iCash Payday Loan

$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
iCash offers instant online payday loans of up to $1,500 with an easy application process. The entire process from application to funding can be completed in minutes, although your interest rate will vary depending on your province.

Why it's one of the best

Instant approval. iCash uses an automated approval system that can have you ready to go in minutes.

Immediate funding. This lender is known for providing emergency loan funds via e-Transfer within 2 minutes of approval.

No hidden fees. It has a transparent fee structure with no surprises.

  • Instant funding
  • Fast application and approval
  • Transparent fees
  • High interest rates
  • Max loan amount may be limiting
Loan amount $100 – $1,500
APR Varies by province
Term 7 - 62 days
Min. Turnaround time As little as 2 minutes with Interac e-Transfer
How to apply Online
In Store
Credit Check Yes

Best for lower-cost payday loans: Wagepay

Wagepay Wage Advance Loan

$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
Wagepay provides a quick and easy way to access a portion of your earned wages before payday. Originally founded in Australia, the company has been operating in Canada since 2023. Wagepay offers fast, transparent payday loans that are cheaper than most payday loans on the market.

Why it's one of the best

Lower fees. A Wagepay loan in Ontario, for example, costs $8 per $100 borrowed, which is significantly lower than most payday lenders. However, this is still expensive compared to other types of financing.

No credit checks. Wagepay won't check your credit score to approve you.

Instant transfers. Receive your loan funds via e-Transfer immediately after getting approved.

  • Lower fees
  • Instant funding
  • No credit checks
  • Available in certain provinces only
  • Max funding is $1,500
  • Requires around $400 in weekly income
Loan amount $100 – $1,500
APR Varies by province
Term Up to 62 days
Min. Turnaround time As little as 2 minutes with Interac e-Transfer
How to apply Online
Credit Check No

Best for easy loan app experience: Credit Club

Credit Club Payday Loans

$100 – $1,500
Loan amount
Up to 62 days
Loan Term
30 minutes
Min. Turnaround Time
Credit Club offers payday loans up to $1,500 with a simple application process and transparent fee structure. This service is ideal for those who need a quick loan without hidden charges or a complicated application.

Why it's one of the best

Fast approval. You can be approved with Credit Club in 30 minutes.

Transparent fee structure. It offers a clear and simple fee structure with no hidden costs.

24/7 service. A rarity among any lender, Credit Club can process your application anytime and send you funding through a secure e-Transfer.

  • Straightforward application and approval
  • No-fuss fee structure
  • Available 24/7
  • High interest rates
  • Max loan amount of $1,500
Loan amount $100 – $1,500
APR Varies by province
Term Up to 62 days
Min. Turnaround time 30 minutes
Credit Check No
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $15 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Best personal loan apps

Your bank may be a good place to start if you’re looking for a personal loan. If that’s not an option for you, these alternative lenders offer great alternatives.

Personal loan apps offer small- to medium-sized loans with more conventional loan terms, and interest rates are generally lower than payday loans.

Best for online loan management: easyfinancial

easyfinancial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

$500 – $100,000

Loan Amount

9.99% – 46.96%

APR

9 - 120 months

Term

easyfinancial is one of Canada's largest alternative lenders. It won the Alternative Lender category in our Finder: Personal Loans Best-in-Class Awards 2024. The easyfinancial app enables users to apply for and manage a personal loan with ease, making it a convenient option for many.

Why it's one of the best

Wide range of loan amounts and terms. easyfinancial offers a variety of loan types with terms ranging from 9 - 120 months.

Flexible payment options. Borrowers can choose from weekly, bi-weekly or monthly repayment schedules.

Convenient mobile app. The easyfinancial app allows users to manage the entire process through a mobile device, from application to funding and repayment.

  • Good variety of loan options
  • Flexible repayment schedule
  • Reputable lender
  • Great mobile app
  • High interest rates
  • Mixed customer reviews
Loan amount $500 – $100,000
APR 9.99% – 46.96%
Term 9 - 120 months
Min. credit score 300
Fees you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees
Turnaround time Approval within 30 minutes
Serviced provinces all provinces

Best for pre-approved offers: Mogo

Mogo Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

$500 – $35,000

Loan Amount

9.9% – 46.96%

APR

6 - 60 months

Term

Mogo is a Canadian fintech company that provides a variety of financial products. You can quickly sign up for a Mogo account and get pre-approved through the company's app in a matter of minutes.

Why it's one of the best

Fast loan quotes. Mogo can provide pre-approval for a loan quickly without a credit check.

Higher loan amounts. Mogo allows customers to access up to $35,000 in funding, which is higher than most lenders on this list.

No prepayment penalty. You can pay off your loan early without incurring any fees.

  • Quick pre-approval
  • Higher loan amounts
  • 100-day trial for certain loans
  • Very high bad credit rates
Loan amount $500 – $35,000
APR 9.9% – 46.96%
Term 6 - 60 months
Min. credit score 600
Fees Non-sufficient funds fee of $20 to $50
Turnaround time Within 24 hours
Serviced provinces BC, AB, SK, MB, ON, NB, NS, PE, NL, YT, NT, NU

Best for bad credit: Money Mart

Money Mart Installment Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Read review

$500 – $15,000

Loan Amount

29.9% – 46.9%

APR

6 - 84 months

Term

Money Mart is one of Canada's biggest payday and installment loan providers, specializing in providing quick cash loans.

Why it's one of the best

Fast approval. Money Mart offers approval within minutes of receiving your online application.

Accepts bad credit. Usually, a steady form of income and an acceptable amount of debt are more important than a bad credit score.

Large branch network. If you're into in-person service, Money Mart has an extensive physical presence across Canada.

  • Quick approval
  • Bad credit is okay
  • In-person service available
  • Funding within 24 hours (excl. weekends)
  • Very high interest rates
  • Short repayment terms
  • Watch out for additional fees
Loan amount $500 – $15,000
APR 29.9% – 46.9%
Term 6 - 84 months
Min. credit score 300
Fees None
Turnaround time Less than 1 day
Serviced provinces AB, BC, MB, NB, NS, NT, ON, PEI, SK, YT

How we chose the best loan apps in Canada

We’ve chosen the best loan apps on this page based on the providers available through Finder and online in the Canadian loans marketplace. These loan apps are not representative of the entire market.

When choosing our picks for the best loan apps in Canada, we considered each lender’s rates, fees, terms, borrowing amounts, app ratings and availability, application process, funding speed, eligibility requirements, customer support and feedback, licences, accreditations and perks for borrowers. No single loan app will be the best choice for everyone, so compare your options before applying.

How to choose the best loan app for you

  1. Compare fees and interest rates. Look for apps with competitive or low interest rates and a transparent fee structure.
  2. Consider loan terms. Check for repayment flexibility, and make sure you can afford to pay off your loan in full within the term you’ve been quoted.
  3. Read reviews. You should be able to find customer reviews online for most lenders.
  4. Check eligibility. Depending on the lender you’re interested in, you may need to tick off some requirements by way of income, credit score and residency, among others.

Bottom line

Whether you need a small cash advance, an emergency payday loan or a more typical long-term personal loan, there’s a good range of easy loan apps to choose from in Canada. Use our list of the best loan apps in Canada to find the perfect fit for your money.

Frequently asked questions

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To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.
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Written by

Contributor

Steven Brennan is a freelance finance writer working from Vancouver, B.C. He has a BA and an MA in English Literature at the University of Ireland, Maynooth, and also spent time working in Italy and Vietnam as an English teacher. Today, he writes regularly on a range of personal finance topics including banking, loans, mortgages, insurance and tax. His work has appeared on sites such as LowestRates.ca and WealthRocket, as well as in print with Canadian MoneySaver. See full bio

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