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Easy Financial Secured Loan review 

If you’re willing to use your home as collateral, Easy Financial provides secured loans of up to $45,000.

To be eligible for an Easy Financial Secured Loan, you must be a Canadian citizen, be the age of majority in your province, have a stable source of income to cover your debt repayments and have a home you can use as collateral.

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19.99% - 28.99%

Interest Rate


Max. Loan Amount


Product NameEasy Financial Secured Loan
Benefit DescriptionBeing a homeowner has its advantages when you're loan shopping. If you own your home and you need to borrow money, Easy Financial provides secured loans worth up to $45,000 if you use the equity in your property as collateral to score lower interest rates.
Interest Rate19.99% - 28.99%
Min. Loan Amount$15,000
Max. Loan Amount$45,000
Loan Term72 - 120 months
Turnaround TimeWithin 48 hours
More Info
Please note: All information about Easy Financial Secured Loan has been collected independently by Finder and this product is not available through this site.

30-second take

If you’re looking for a secured personal loan, you can apply onsite or online with Easy Financial for a quick approval:

  • Think of an Easy Financial Secured Loan if you’re a homeowner with home equity you can use as collateral for your loan.
  • Pick something else if you don’t own a home. You won’t be able to land an Easy Financial Secured Loan without a major asset like property.
  • It’s free to apply with Easy Financial and doing so won’t affect your credit score. Since your home will serve as collateral, you need to be certain that you can pay back the loan on time and in full.

What is an Easy Financial Secured Loan?

Easy Financial provides a secured loan option, specifically for homeowners who have home equity they feel comfortable using as insurance. Across the board, secured loans command lower interest rates compared to unsecured loans because borrowers are providing lenders with collateral if they default on their loan agreement.

If you’re in need of cash to cover emergency expenses, home repairs or to finance higher education, an Easy Financial Secured Loan may be a great solution. You can apply for secured loans that are as small as $15,000 up to $45,000.

Easy Financial’s secured loans come with an interest rate of 19.99%–28.99%, depending on factors like your credit score, loan amount and repayment time, along with the stability of your income.

What makes Easy Financial Secured Loans unique?

Flexibility is a priority point for Easy Financial. You can apply online, in person at over 370+ branch locations or over the phone and get a loan term between 72 - 120 months for a secured loan. You can apply within minutes with a quick turnaround on approvals. According to Easy Financial, 88% of its customers receive a decision within 30 minutes or less. If all of your documentation checks out, you may even receive your funds within a business day.

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What are the benefits of an Easy Financial Secured Loan?

While Easy Financial offers a slate of loan products, its secured loans come with some key benefits:

  • Easy, secure online application with a quick approval process. After filling out the application form online or visiting a branch in person, you’ll be approved and hear from Easy Financial within a business day to move forward with your loan. You may be able to get your funding as quickly as within the same day.
  • Loan amount of up to $45,000. With Easy Financial’s secured loan, you can borrow anywhere from $15,000 up to $45,000 to cover expenses such as bill payments, student debt, repairs or renovations.
  • Flexibility in loan terms and repayment options. You can structure your loan in a way that supports weekly, bi-weekly, monthly or bi-monthly repayments. Loan terms range from 72 - 120 months.
  • You have the option for in-person interactions. You can apply for an Easy Financial loan or request help online, in-person at over 370+ locations or over the phone at 1-888-502-EASY (3279).
  • Applying won’t hurt your credit score. Easy Financial notes on its website that applying is free and won’t affect your credit score at all.
  • Available across Canada. You can apply for an Easy Financial loan in all 10 provinces and 3 territories.

What to watch out for

While an Easy Financial Secured Loan may seem like the silver bullet solution to your financial problems, there are some drawbacks you should consider:

  • Your home is used as collateral. The ultimate downside with this secured loan is that you’re using the roof over your family’s head as an insurance policy should you default on your loan. It’s risky, especially if you’re worried you won’t be able to keep up with your debt repayments.
  • Potential for steep interest rates. You may be securing your loan with home equity, but the range for interest rates can be as high as 28.99% if you don’t have the best credit score. Rates for Easy Financial Secured Loans are typically between 19.99% and 28.99%.
  • Potential for additional charges. While applying for an Easy Financial loan is free, you may come across administrative charges as well as NSF, late or missed payment fees.
  • No online quotes or online comparisons. After you submit your application and provide your documentation, an Easy Financial representative will contact you by telephone to go over your loan request. Other lending platforms and services let you compare multiple lenders at one time on an easy-to-navigate platform so you can do your homework on various offers and interest rates before making a decision. If you opt for an Easy Financial loan, make sure you do your research first to ensure it’s the best loan option for you.

Am I eligible?

To be eligible for an Easy Financial Secured Loan, you need to meet the following criteria:

  • Be a Canadian citizen.
  • Meet the minimum age requirement, which varies from province to province.
  • Be able to demonstrate an ability to make repayments and have a steady income of at least $1,200 per month.
  • Be a homeowner with home equity you’re willing to use as collateral to secure your Easy Financial loan.

After you apply for a loan, you will need to verify your identity and application details. You may be asked to provide the following:

  • Government-issued ID to prove you’re the legal age in your province or territory.
  • Proof of your employment status and monthly income (via paystubs or bank statements).
  • A valid Canadian identification card to confirm your identity, your address and phone number.
  • An active Canadian banking account with direct deposit capability.
  • A void cheque or pre-authorized debit form.
  • Annual mortgage statements and annual property tax statements.
  • Your credit report with your credit score.

How do I apply?

If you’re ready to apply for an Easy Financial loan, simply head online or visit one of 370+ locations across Canada. Here’s a step-by-step guide if you decide to apply online. It shouldn’t take more than 10 minutes to complete:

  1. Go to the Easy Financial homepage and click on the “Apply Now” button.
  2. Use the slider to indicate how much you need to borrow. Secured loans range from $15,000 up to $45,000.
  3. Indicate which category your loan will be used for, such as bills and expenses, debt consolidation, home and car repairs, education expenses, travel, healthcare expenses or other.
  4. Provide your contact details, including your full name, your email address, your phone number, your date of birth and your home address.
  5. Indicate your residency status, such as a Canadian citizen, a permanent resident, a work permit holder, an international student or other.
  6. Provide details on your employment status, including whether you are full-time or part-time, self-employed, seasonal, on disability or social assistance, retired or unemployed.
  7. Provide details on your gross monthly income and how long you have been receiving this income. Provide details on your employer, your job title and how long you have been employed there.
  8. After you apply for a loan, you will need to verify your identity and application details. If you’re applying online, make sure you have electronic copies of your government-issued ID, proof of income (bank statement, paystub or T4), void cheque or pre-authorized debit form, proof of address, annual mortgage statement and annual property tax statement.
  9. An Easy Financial representative will contact you with the next steps for organizing your loan.
  10. You can also connect with an Easy Financial expert on the phone at 1-888-502-EASY (3279).

I got the Easy Financial Secured Loan. Now what?

The Easy Financial loans process is pretty seamless and upon approval, you may receive your funds within a business day. Use your loan wisely and budget according to your needs. Ideally, you applied for this loan for a specific reason, whether it was to consolidate your debts, pay for a home renovation or cover other important expenses that you didn’t have the upfront cash for.

Make sure you fit your loan repayment into your budget. You’ve secured your loan with your property after all. You don’t want to default and put your home at risk.

Your repayment options will be outlined in your contract with Easy Financial. You can structure your loan repayments so they’re weekly, bi-weekly or monthly, depending on your personal preference. On its website, Easy Financial says you can pay off your personal loan early so you can save on interest and be out of debt sooner too.

Bottom line

Opting for a secured loan will always yield lower interest rates and better terms compared to unsecured loans. If you’re willing to put up your home equity as collateral, you could potentially score an Easy Financial Secured Loan with a rate as low as 19.99%. Because Easy Financial is a direct lender, it doesn’t provide loan comparison options like other online lending platforms do. This means that before you decide on an Easy Financial loan, shop around and compare your secured loan options to make sure you’re getting the lowest interest rates and best terms that fit your needs.

You can also consider the wider range of personal loan options available to you.

With the roof over your head used as collateral, you need to commit to staying on top of your debt repayments for this secured loan.

Frequently asked questions

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