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Loans Canada Personal Loan review

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Need to secure access to financing? Apply for a personal loan with this reputable online lending platform.

Loans Canada connects borrowers to lenders offering both secured and unsecured personal loans in amounts from $300 to $50,000. Submit one application to get rates from multiple lenders across Canada.

Secured from 2.00%, Unsecured from 8.00% to 46.96%

Interest Rate


Max. Loan Amount


Min. Credit Score


Product NameLoans Canada Personal Loan
Benefit DescriptionLoans Canada connects borrowers with lenders that offer both secured and unsecured personal loans.
Interest RateSecured from 2.00%, Unsecured from 8.00% to 46.96%
Min. Loan Amount$300
Max. Loan Amount$50,000
Loan Term3-60 months
Turnaround TimeReceive funds within as little as 24 hours.
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Do you need quick access to cash to pay for an unexpected expense? Loans Canada will help connect you with a number of different personal loan options using its specialized platform. All you need to do is fill out some personal and financial information to get started. Find out more about how you can apply and qualify for a Loans Canada Personal Loan today.

What makes Loans Canada Personal Loans unique?

Loans Canada isn’t a direct lender but operates as a specialty lending platform. When you apply for a Loans Canada personal loan, you’ll be connected to one of the largest networks of lenders in Canada. All you need to do to get started is fill in your personal details and information about your current financial situation using Loans Canada’s online application.

This service is unique because it matches you with the best lender for your particular situation. It also lets you borrow large amounts of cash in a short timeframe. The process to apply is quick and relatively painless, and you may be able to qualify for a loan even if you have bad credit. You also won’t be required to put up collateral to secure financing.

What are Loans Canada Personal Loans?

Loans Canada Personal Loan allows you to borrow money for large or unexpected expenses. You can apply for amounts between $300 and $50,000 and your interest rates will vary based on factors such as your credit score and how much you plan to borrow. Interest rates can be as low as 8% for an unsecured loan or as high as 46.96%.

Depending on the complexity of your application, you may be approved for a loan in as little as 24 hours from the time that you apply. From there, your money will be deposited within 1-3 days and you can take between 3 and 60 months to pay that money back.

What are the benefits of a Loans Canada Personal Loan?

  • Easy application. You can apply for a loan from multiple lenders in under 5 minutes.
  • Quick deposits. You’ll get access to your cash within 1-3 business days from the time that you apply.
  • More choice. Loans Canada works with multiple lenders to give you as many options as possible so that you can find the best loan for your personal situation.
  • Free service. There’s no fee to use Loan Canada’s service since it receives a commission from the lender you sign up with directly.
  • High loan amounts. You’ll be able to apply for up to $50,000 with Loans Canada personal loans.
  • No collateral required. You won’t need to put up any collateral such as your home or vehicle to secure your loan (even for large amounts).
  • 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.

What to watch out for

  • High interest rates. The interest rates you’ll pay can reach as high as 46.96% APR, which means your loan may cost more than what you would pay with your credit card.
  • Personal information required. You’ll be required to input sensitive information online that will be forwarded to the lenders you match with.
  • No online quotes. You’ll have to speak to a customer service representative over the phone to negotiate the terms for your Loans Canada personal loan.
  • Quotes come from affiliated providers. You’ll only get quotes from companies that Loans Canada is affiliated with.
  • Online only. You’ll have to be able to navigate the loan process online and you won’t be able to visit Loans Canada in person to meet with your lender.
  • Credit checks are required. You’ll be required to submit to a credit check to qualify for a Loans Canada Personal Loan, which can hurt your credit score.

Am I eligible?

Your eligibility may depend on the state of your credit and whether any lender on the Loans Canada docket is willing to finance you. That said, you’ll usually be matched with at least one or two lenders who will accept your application and want to proceed with the loan. To get approved, you’ll need to show that you’re a Canadian citizen or resident and that you make enough money each month to repay your loan on time.

It will also help your situation if you have a decent credit score, though this isn’t a requirement. You should just be aware that you’ll pay much higher interest rates for any loan you take out if you have bad credit. This will definitely apply in cases where you’ve recently claimed bankruptcy or are struggling with a consumer proposal.

How do I apply?

If you want to apply for a loan with Loans Canada, click the green “Go to site” button above to be securely redirected to fill in an online application. You’ll need to submit a significant amount of personal information such as your name, phone number, address, occupation and monthly income. You’ll also be required to approve Loans Canada Personal Loan to do a credit check on your account.

Once you’ve submitted your application with details about how much you want to borrow, you’ll typically be contacted by any lenders you match with to discuss your prospective loan in more detail. From there, the lender you choose will provide you with financing directly and you will no longer need to deal with Loans Canada.

I got the loan. Now what?

Once you’ve submitted your application to Loans Canada and you’ve been matched with a suitable lender, you’ll start to repay your loan. To do so, you’ll repay the lender that you were matched with rather than Loans Canada directly. You’ll usually have to sign up for automatic withdrawals from your bank account to begin to repay your loan.

Bottom line

Loans Canada Personal Loan provides a user-friendly platform that lets you compare multiple lenders all in one place. You can apply with bad credit and get approved on the same day you apply in many cases. From there, it will take between one and three days for your money to be deposited into your account. 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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