ConsumerCapital Canada personal loan review

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Get access to quick cash and affordable repayments when you apply for a personal loan with this reputable online lender.

If you need an injection of cash to fund a large purchase or to make it to your next pay cheque, then you might like to check out ConsumerCapital Canada. This alternative lender offers quick approval for personal loans, with no collateral required to secure financing.

Find out more about what types of personal loans you can get with this provider and learn more about what eligibility criteria you’ll have to meet to qualify.

19.99% - 34.99%

Interest Rate


Max. Loan Amount

What types of loans does ConsumerCapital provide?

ConsumerCapital offers unsecured personal loans to accommodate every budget and financial situation. These loans let you borrow between $500 and $12,500 with variable terms and interest rates. You can apply online in less than 15 minutes, and you don’t need perfect credit to qualify.

You’ll get interest rates similar to those of credit cards with these loans. The amount you’ll pay will vary based on factors like your credit score and the length of your term. The upside is that it’s much easier to qualify for this financing than it is to take out a loan with Canada’s “Big Five” banks. You’ll also be able to access your money almost as soon as your application is approved.

What can I use my loan for?

ConsumerCapital doesn’t regulate how you can spend the money you borrow. That said, some examples of what you might use your loan to pay for are listed below.

  • Routine expenses. Use your loan to cover the cost of monthly expenses like rent, utilities and groceries.
  • Emergency expenses. Get an infusion of cash to pay for unexpected expenses like funeral costs, health care bills and car repairs.
  • One-off payments. Top-up your cash flow to pay for large purchases like furniture, home renovations, vacations, tuition and more.
  • Debt consolidation. Use the money to pay off other debts you owe, so that you only have to make one easy payment.

What should I know before I apply

How to apply

If you think you meet all the eligibility criteria and you’re ready to get started with your loan application, you just need to follow these simple steps.

  1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and negotiate the terms of your loan if you meet the eligibility requirements.

Pros and cons


  • Easy application. You can apply for a loan from the comfort of your own home in less than 15 minutes.
  • Direct deposit. You can sign your documents electronically and your money will be deposited directly into your bank account.
  • High loan amounts. You’ll be able to apply for up to $12,500, which is more than many other lenders offer.
  • Longer terms. It’s possible to lock in a multi-year term to help keep your payments manageable.
  • No collateral required. You won’t need to secure your loan against an asset like your home or vehicle.
  • Bad credit doesn’t matter. Loan decisions are based on factors like your income, so the state of your credit won’t be as important.
  • No fee for early pay-outs. You can pay off your balance at any time without an extra fee.


  • High interest rates. The interest rates you’ll get are similar to those on offer from credit cards (sitting at a minimum of 19.99%).
  • Minimum annual income. You’ll need to make at least $20,000 per year to qualify.
  • Some provinces not serviced. You won’t be able to take out a loan if you live in Quebec, NWT, Yukon or Nunavut.

Bottom line

ConsumerCapital is a reputable loan provider that offers unsecured loans with affordable repayments. Find out what you need to qualify and start your application today to get an estimate of how much you’re eligible to borrow.

Frequently asked questions

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