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6 fast and easy loans in Canada: Apply online

Get your loan approved and paid in as little as 30 minutes with these quick, easy loan options.

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Easy loans in Canada come with lenient requirements, rapid approval and fast funding. The catch? You’ll probably pay high interest. Explore online options for getting an easy loan in Canada.

Summary of loans with easy approval and funding

Loan typeTurnaround time
Installment loan24-48 hours
Payday loanAs little as 30 minutes
Line of credit24-48 hours
Vehicle title loan24-48 hours
Pay advance appAs little as 30 minutes
Secured credit card4-10 business days

1. Easy installment loans

Installment loans are unsecured personal loans offered by online lenders. You receive a lump sum of cash and repay it in equal payments over a fixed term.

  • Amount: Usually up to $15,000.
  • Suitable for: Borrowing small to moderate loan amounts, especially if you can’t get approved by big banks and major lenders.
  • Why they’re easy loans in Canada: This quick loan is designed for people who don’t qualify for bank or credit union loans. Minimum credit score and income qualifications are lower, and you don’t need to provide collateral.
  • Risks: High interest rates and long loan terms can add up.
  • Speed: 24-48 hours.
  • Bad credit loans available? Yes (depending on the lender).
  • Online loan? Yes, the process is completely online.

Compare installment loans with easy approval and funding

Name Product Ratings APR Range Loan Amount Loan Term Broker Compliance Requirements
Spring Financial Installment Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
10.8% - 46.99%
$500 - $35,000
6 - 60 months
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500
Loans Canada Installment Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
8.00% - 46.96%
$500 - $50,000
4 - 60 months
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
LoanConnect Installment Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
32.00%
$500 - $2,500
3 - 6 months
LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
easyfinancial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
9.99% - 46.96%
$500 - $100,000
9 - 120 months
Requirements: min. income $1,200/month
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2. Easy payday loans

Payday loans are one of the fastest and easiest ways to get cash. This type of loan costs between $14 to $17 for every $100 borrowed and usually needs to be repaid by your next payday.

  • Amount: Up to $1,500.
  • Suitable for: Fast loans when you’ve exhausted all other financing options.
  • Why they’re easy loans in Canada: Payday loans are easier to qualify for than installment loans, even if you have bad credit or past bankruptcies, since lenders prioritize stable income. You might also qualify with non-employment income like government benefits.
  • Risks: Incredibly high interest rates and short terms. Before you apply, make sure you’ll have enough income left for other debts or expenses once you repay your payday loan. Otherwise, you may find yourself needing another loan to cover the shortage.
  • Speed: As little as 30 minutes. Instant approval loans in Canada are available.
  • Bad credit loans available? Yes.
  • Online loan? Yes (in-store funding also available).
⚠️ 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.

Compare easy payday loans

1 - 3 of 3
Name Product Loan Amount Loan Term APR Turnaround Time Serviced Provinces Offer Table description
iCash Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer®
AB, BC, MB, NB, NS, ON, PEI
24/7 instant approval and e-Transfer funding.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. Income of at least $800/month required.
Money Mart Payday Loan
$120 - $1,500
1 - 62 days
Varies by province
As little as 1 hour after getting approved
AB, BC, MB, NS, NT, ON, SK, YT
To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer®
BC, MB, NL, NS, ON, SK
Instant decision and e-Transfer funding. Income of at least $1,000/month required.
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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

3. Lines of credit

A line of credit gives you funds you can withdraw from as needed up to a certain limit. You only pay interest on what you borrow. Easy lines of credit are only available from online lenders. Banks and credit unions have strict eligibility requirements.

  • Amount: Usually up to $50,000.
  • Suitable for: Ongoing access to funds, especially if you’re financially disciplined and can repay balances quickly.
  • Why they’re easy loans in Canada: Online lenders may accept fair or bad credit if you also have an adequate, stable income.
  • Risks: Overspending and accumulating high interest if you hold off repayment.
  • Speed: 24-48 hours.
  • Bad credit loans available? Yes (depending on the lender).
  • Online loan? Yes.

Compare lines of credit with easy approval

Name Product Ratings APR Range Loan Amount Loan Term Broker Compliance Requirements
LoanConnect Line of Credit
Finder Score:
★★★★★
Customer Survey:
★★★★★
19.99% - 46.96%
$500 - $50,000
Open
LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
Loans Canada Line of Credit
Finder Score:
★★★★★
Customer Survey:
★★★★★
9.90% - 21.50%
$5,000 - $35,000
Open
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
Fora Line of Credit
Finder Score:
★★★★★
19.90% - 46.90%
$1,000 - $10,000
Open
Requirements: Steady source of income
MogoMini Line of Credit
Finder Score:
★★★★★
Customer Survey:
★★★★★
47.42%
$1,000 - $3,500
No end dates
Requirements: min. income $35,000/year, min. credit score 600
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Related Lines of credit

4. Vehicle title loans

If your car is completely paid off, you can use it as collateral to get a loan in Canada. You can keep driving your vehicle, but it will be repossessed and sold if you fail to repay your loan.

  • Amount: 25% to 50% of your car’s value.
  • Suitable for: Borrowers willing to use their car as collateral.
  • Why they’re easy loans in Canada: Providing collateral lowers the risk for lenders, making it possible to qualify for lower rates than you’d get with unsecured loans. No credit check loans are available, but make sure the lender is legitimate.
  • Risks: Steep interest rates, loan fees and possibly losing your vehicle (if you default).
  • Speed: 24-48 hours.
  • Bad credit loans available? Yes.
  • Online loan? It depends. Some lenders require in-person vehicle inspections.

Get a fast car title loan

Name Product Ratings APR Range Loan Amount Loan Term Broker Compliance Requirements
getloanapproved.com Vehicle Title Loan
Finder Score:
★★★★★
9.95% - 29.00%
$1,000 - $50,000
12 - 72 months
Requirements: Vehicle must be 10 years old or newer, and must not be financed or leased.
Loans Canada Vehicle Title Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
6.99% - 29.99%
$500 - $35,000
4 - 96 months
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 300
LoanConnect Vehicle Title Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
8.99% - 46.96%
$100 - $50,000
3 - 120 months
LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
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5. Cash advance apps

Cash advance apps offer small, short-term loans that are typically paid back when you get your next paycheque. Some lenders let you roll over debt to your next payday. You pay no interest on these cash loans, but you may pay either an optional or required monthly fee depending on the provider.

  • Amount: Usually up to $250.
  • Suitable for: Small quick loans that can be repaid by your next paycheque.
  • Why they’re easy loans in Canada: Non-traditional income is accepted. Often, no credit check is required.
  • Risks: Rolling over your loan can get costly.
  • Speed: As little as 30 minutes. Instant approval and funding are available.
  • Bad credit loans available? Yes.
  • Online loan? Yes.

Compare pay advance apps

1 - 3 of 3
Name Product Loan Amount Loan Term Fees Offer
Bree Early Pay
$20 - $250
Next pay cycle
No interest or fees to access cash advance, fee for express funding (varies based on advance)
Access up to $250 with no interest or mandatory fees. No credit check required. Pay a fee to get instant funding.
Nyble Credit Line
$30 - $150
30 days, extendable
No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding
Use code CFIND1J to get 500 extra points and a $5 higher approval. Conditions apply.
Get a credit line with no interest or fees. Pay an optional membership fee to access premium services such as instant funding.
KOHO Cover
$20 - $250
subscription fee starting at $2/month
Sign up for a KOHO account and access a zero-interest cash advance. Repay anytime. No credit check required.
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6. Secured credit cards

With this loan, you provide a deposit to use a credit card. If you stop making payments, the card provider keeps the deposit.

  • Amount: Up to $10,000 (depends on your deposit)
  • Suitable for: Those who can afford at least several hundred dollars for a deposit.
  • Why they’re easy loans in Canada: Bad credit and no credit history are acceptable.
  • Risks: If you stop making payments, you’ll lose your deposit.
  • Speed: 4-10 business days.
  • Bad credit loans available? Yes.
  • Online loan? You can apply online, but the process isn’t completely online. Once you’re approved, a physical card will be mailed to you.

Get a secured credit card

1 - 1 of 1
Name Product Min. Required Deposit Purchase Interest Rate Cash Advance Rate Annual Fee
Neo Secured Mastercard
$50
19.99% - 29.99%
N/A
$0
Earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 4% cashback at thousands of partners and at least 0.5% cashback guaranteed.
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What is the easiest bank to get a loan from in Canada?

We found that it’s easy to apply online for a bank loan from CIBC, BMO and National Bank. You can get competitive rates from traditional banks, but you need a strong financial profile to easily qualify. If your credit score isn’t good, check out top installment loans from alternative lenders.

Am I eligible for easy loans in Canada?

Easy loans in Canada come with non-strict approval criteria and fast turnaround. To get an easy loan, you must:

  • Be the age of majority in your province or territory (18 or 19)
  • Be a Canadian resident
  • Have a stable income
  • Have a Canadian bank account

To get a vehicle title loan, your car must be entirely paid off and can’t be older than a certain year (varies based on the lender).

How to apply for easy online loans in Canada

Applying for online loans in Canada is easy. The exact steps vary between loan providers, but here’s how it generally works:

  1. Fill out an online application. Provide personal details like your name, address, contact information and employment details.
  2. Get a decision. The lender will let you know if you qualify for funding.
  3. Verify your identity. Submit proof of your identity, Canadian residency and income. Upload documents to the lender’s website or complete instant bank verification.
  4. Receive an offer. Review your contract and sign when you’re ready.
  5. Get funds. Your loan will be deposited into your bank account by direct deposit or e-Transfer, usually within 24-48 hours. Some lenders offer same-day funding.

Tips for getting an easy online loan

If you need money fast, follow these tips to speed up the process online.

  • Check the lender’s requirements. Check that you meet loan eligibility requirements before applying to avoid wasting time and effort.
  • Choose instant bank verification. Verify your information by logging into online banking. This lets your lender save time by not having to manually review your documents.
  • Apply in the morning. This increases your chance of getting same-day approval and funding.
  • Prepare your documents. Documents commonly required for quick, easy loans in Canada are government-issued ID, recent bank statements and recent pay stubs (or tax Notices of Assessment).

Avoid applying for easy loans in Canada if…

  • You don’t need funds urgently. High-cost, easy loans should be a last resort. If you aren’t facing a financial emergency, improve your credit score to get approved for a traditional personal loan with better rates and terms.
  • You can’t afford more debt repayments. If your budget is already stretched thin, don’t further strain your finances and credit report by taking on more debt than you can repay.
  • There are other options available. Can you take on a side job, borrow from friends or family, get credit counselling or receive non-profit help with food or rent? Consider negotiating for lower rates and easier repayment terms with creditors.

How to compare easy online loans in Canada

  • APR. The interest rate only reflects how much interest you’ll pay on the loan, but the annual percentage rate (APR) provides reflects all costs, including interest and other fees.
  • Loan term. Spreading out repayment over a long time period could lower your payment amount, but it’ll raise your interest cost. Short loan terms could result in higher payment amounts, but you pay less interest overall.
  • Extra fees. Pay close attention to additional fees that can drive up the cost of your loan like origination fees (to set up your loan), broker or surety fees that get added to your payments and non-sufficient funds (NSF) fees for bounced payments.
  • Speed. How quickly can lenders approve and fund a loan? Interac e-Transfers are often the fastest method of receiving funds. Payday loan providers like iCash, GoDay, Mr. Payday, Cash 4 You and Loan Express offer quick loans in 5-60 minutes.
  • Reputation and legitimacy. Make sure your lender is licensed in Canada. Look for signs of legitimate business operations like having a physical address and customer service contact information. Read customer reviews on sites like Trustpilot and the Better Business Bureau (BBB).

Canadians planned to use a variety of loans in 2023

More than 1 in 10 Canadians (14%) planned to use a payday loan and 1 in 5 (20%) planned to take out a personal or installment loan in the second quarter of 2023, according to results from the Finder: Consumer Sentiment Survey Q2 2023. When selecting what type of loan to use, men and women appeared to have specific preferences.




FAQs about easy loans in Canada

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