Easy Financial Personal Loan Review April 2021 | Finder Canada
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Easy Financial Personal Loan

Last updated:  

Your loan amount, interest rate and term will depend on whether you choose an unsecured or secured personal loan.

Easy Financial offers unsecured personal loans up to $15,000 and secured loans up to $45,000, with terms ranging from 9 months to 10 years depending on the type of loan you choose.

19.99% – 46.96%

Interest Rate

$45,000

Max. Loan Amount

Please note: All information about Easy Financial Personal Loan has been collected independently by Finder and this product is not available through this site.
Easy Financial offers unsecured personal loans up to $15,000 and secured loans up to $45,000, with terms ranging from 9 months to 10 years depending on the type of loan you choose. Both loan types can be structured to suit your financial needs, and loans can be used for emergencies, debt consolidation or leisure purposes. Should you decide to take out a secured personal loan, you’ll need to be a homeowner.

How does borrowing from Easy Financial work?

Easy Financial offers both secured and unsecured personal loans. You’ll need to be a homeowner to apply for a secured personal loan. Since your home will serve as collateral, you need to be certain that you can pay back the loan on time and in full.
Loan typeLoan amountInterest rateLoan termCollateral required?
Unsecured personal loan$500 – $15,00029.99% – 46.96%9 – 60 months (9 months – 5 years)No
Secured personal loan$15,000 – $45,00019.99% – 46.96% (with most rates sitting between 19.99 – 28.99%)72 – 120 months (6 – 10 years)Yes. You must be a homeowner, as your home will serve as collateral.

Features of a personal loan from Easy Financial

  • Interest rates between 19.99% – 46.96%. Interest rates will vary depending on the size and length of your loan. Remember that unsecured loans attract higher interest rates.
  • Flexible loan size. You can apply for an unsecured personal loan between $500 and $15,000, or a secured personal loan between $15,000 and $45,000.
  • Loan type. You can choose between secured and unsecured personal loans. Secured loans come in higher amounts with lower interest rates and longer repayment terms, but you’ll need to secure the loan with your home (which means you’ll need to be a homeowner). Unsecured loans come with shorter repayment terms and lower borrowing amounts, but higher starting interest rates.
  • Access to funds. Once you’ve been approved for a loan, you will typically have access to the funds within two business days.
  • Loan terms. Easy Financial offers flexible and long loan terms. Unsecured loans can be paid back over 9 months to 5 years, while secured loans can be paid back over 6 to 10 years.
  • Repayment options. You can structure your loan in a way that supports weekly, bi-weekly, monthly or bi-monthly repayments.
  • Online calculator. Easy Financial has an online loan calculator that estimates the size of repayments you would make on your desired loan. Remember that this calculator only produces an estimate; your actual interest rate and repayments scheme will be outlined in the loan contract.
  • Online application. You can apply online for an Easy Financial Personal Loan. Online applications can be completed in around 10 minutes if you have the necessary documents on hand.
  • Fast approval. Once you’ve submitted an application form, you may be approved in as little as 30 minutes. Approval times are impacted by business hours, and whether or not you’ve included all the correct information in your application.
  • Turnaround time. Once approved, you’ll receive your funds within two business days.

Still looking for a personal loan? Compare personal loans in our guide here.

How much will the loan cost?

The overall cost of your loan will depend on the loan type (secured or unsecured), the interest rate you’re offered, the loan term and the amount.

Additional fees for your loan will vary from province to province. You may also be charged:

  • Late payment fees
  • Missed payment fees
  • Default penalties
  • Three-month loan interest penalty on secured loans if paid out before the end of the loan term

How to apply for an Easy Financial Personal Loan

To be eligible for an Easy Financial Personal Loan, at a minimum you’ll need to:
  • Be a Canadian citizen.
  • Meet the minimum age requirement, which varies from province to province.
  • Be able to demonstrate an ability to make repayments.

You’ll need the following details to complete your application:

  • Personal details, including your name, address, email and phone number.
  • Copy of valid government-issued identification and a bill that proves your residential address.
  • Online banking details including your branch transit number, financial institution number and bank account number.
  • Proof of your income. You’ll need to provide details such as your annual income, pay cycle frequency, hire date and employer name and phone number.

If applying for a secured loan, you’ll also need to provide:

  • Annual mortgage statement.
  • Annual property tax statement.

Compare other personal loans

Name Product Interest Rate Max. Loan Amount Loan Term Fees Min. Credit Score Link
Loans Canada Personal Loan
Secured from 2.00%, Unsecured from 8.00% to 46.96%
$50,000
3-60 months
No application or origination fees
300
Go to site
More Info
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.
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$20,000
6 months - 5 years
None
560
Go to site
More Info
Fairstone offers unsecured personal loans up to $20,000
Mogo Personal Loan
5.90% - 46.96%
$35,000
6 months - 5 years
NSF fee - $20 - $50
540
Go to site
More Info
Mogo offers loans up to $35,000 on flexible terms.
LoanConnect Personal Loan
Secured from 1.90%, Unsecured from 9.90%-46.96%
$50,000
3-60 months
No application or origination fees
300
Go to site
More Info
LoanConnect is an online broker that matches borrowers to lenders offering loans in amounts from $500 to $50,000. Get approved for multiple loan offers from different lenders in as little as 60 seconds with any credit score.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$35,000
3-10 years
Varies by province
560
Go to site
More Info
Fairstone offers secured personal loans up to $35,000.
Magical Credit Personal Loan
19.99% - 46.80%
$20,000
6 months - 5 years
A single administration fee of $194 for $1,500 loans and up
300
Go to site
More Info
Magical Credit offers unsecured personal loans in amounts up to $20,000.
LendingMate Personal Loan
43% (British Columbia and Ontario) and 34.90% (Quebec)
$10,000
1-5 years
None
300
Go to site
More Info
LendingMate offers loans to Canadians with poor credit with no credit checks. Co-signer required for application.
loading

Compare up to 4 providers

Go to site