Online loans in Canada offer same-day funding and lenient eligibility criteria, so it’s often possible to get a loan with no credit check. The downside is that they can come with high interest rates.
If you need quick and easy access to some extra cash, we’ve put together this list of the best quick online loans in Canada. Compare the lenders below to find a loan that’s right for you.
High-cost payday loans are unsustainable for long-term borrowing, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, consider calling 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.
Best instant online loans
When you need to cover an unexpected expense, quick access to funds can help. The best instant online loans in Canada allow you to apply, get approved and get funded the same day, sometimes in a matter of minutes. Loans are approved 24/7, and your funds are sent out by Interac e-Transfer straight away.
Speed does sometimes come at a cost, as instant online loans in Canada typically have high interest rates and fees. That said, cash advance apps offer a more affordable alternative if you need money fast.
KOHO Cover is designed to help you cover unexpected bills when you're short on cash. It provides interest-free cash advances of up to $250, and you can apply in a matter of minutes. Once you've signed up, you also get free access to your credit report as well as financial coaching to help you take control of your money.
Affordable borrowing option
Bad credit is OK
Repay at any time
No NSF fees
KOHO account required
$250 may not be enough for your needs
Monthly KOHO Cover fee starting at $2
You may also need to pay a monthly KOHO plan fee
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
Nyble offers an interest-free credit line of up to $250 to help you build credit. You can borrow for free if you wish, but if you want an instant online loan, you'll need to pay an $11.99 monthly membership fee. And because Nyble reports to the credit bureau, making on-time payments could help you improve your credit score.
Instant funding available
Apply in minutes
No interest charges or late fees
Can help you build your credit history
4.8/5 stars based on 8,100+ Trustpilot reviews
Maximum advance of $250
Missed payments could hurt your credit score
It takes up to three business days to get funded with a free account
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
Bad credit won't stop you from getting a loan from online payday lender iCash. There are no credit checks needed to apply, and iCash also accepts borrowers with a wide variety of non-employment income types. Best of all, it approves and funds loans via e-Transfer 24/7, so you can enjoy fast access to extra cash in an emergency.
Instant decisions
Bad credit is OK
Get funded in a matter of minutes
Highly rated mobile app
4.7/5 based on 2,900+ Trustpilot reviews
Very expensive
Short repayment terms
Loan Amount
$100 – $1,500
Loan Term
7 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
Best online loans with no credit check
Less-than-perfect or no credit doesn’t have to keep you from getting a loan. The best online loans with no credit check offer a quick, simple application process, including instant bank verification (IBV) for faster approvals.
Rather than focusing on your credit score, lenders will check that you have enough income to afford your loan repayments. But you will need to watch out for high interest rates and make sure a lender is legit before applying.
Nyble is our top pick as the best online loan with no credit check for several reasons. Not only does it offer instant (for a fee) lines of credit, but you can also apply online in minutes without needing to pass a credit check. You get free access to your credit score too, along with the flexibility to extend the repayment period to suit your income and budget.
Free advances available
Borrow with no interest
Apply in minutes
Use the funds for any purpose
Late payments could hurt your credit score
$250 may not be enough for your needs
$11.99 monthly fee if you want instant funding
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
Green Loans is not a lender but rather an online broker, allowing you to connect with loan offers from its network of lenders. You can apply online in minutes with no need to pass a credit check, so bad credit won't stop you from getting a loan. And if you're approved, your loan will typically be funded within 24 hours.
No credit checks
Simple online application
Accepts a wide range of income types
Instant approvals and same-day funding
Not a direct lender
Unclear broker fees
Small loan amounts
High APRs
Loan Amount
$300 – $1,000
APR Range
22% – 35%
Loan Term
3 - 12 months
Serviced Provinces/Territories
all provinces except Manitoba
Turnaround Time
within 24 hours
Min. Credit Score
300
Fees
2.66% late fee
Requirements
• Share banking access via our secure IBV system (Instant Banking Verification) • Have a Canadian bank account open for 90+ days with online access • Be a Canadian citizen or permanent resident with a job • Be 18 or older (or provincial age of majority) • Earn at least $1,200 monthly in net income • Provide a valid phone number, email, and home address • You must not be in a bankruptcy or a consumer proposal. • You must not be planning to declare bankruptcy or a consumer proposal.
Payday lender Wagepay offers fast online loans in BC and Ontario. It's simple to apply for a loan online or via a user-friendly mobile app, and bad or limited credit is no barrier to you getting funded. Wagepay funds loans 24/7 too, so you can get the money you need in an emergency.
Apply in five minutes with no credit check
Fast access to funds
Get funded 24/7
No late fees
Very high cost of borrowing
Short repayment period
Only in BC and Ontario
Loan Amount
$100 – $1,500
Loan Term
Up to 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
BC and ON
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
No
Requirements
- Be at least 18 years old in Ontario or 19 in BC - You must live and work in Canada - You must be employed and receive a regular, consistent income from your employer of at least $400/week ($1,600/month) - You must leave enough of your income each pay cycle in your account to be able to repay an advance - You must have a generally good banking history
Best bad credit online loans
Searching for online loans in Canada for bad credit? There are many lenders who can help you find the funding you need, with same-day funding available and no credit checks needed.
The downside of these online loans is high interest rates and fees, so check the fine print before you apply. Don’t forget to make sure you’re dealing with a legitimate lender too, as the bad credit personal loan sector does attract its fair share of scammers.
Loans Canada isn't a lender but a loan search platform where you can compare multiple offers from a network of lending partners. Just fill out a single application in order to see offers from lenders affiliated with Loans Canada, then choose the one that best fits your needs. Loans Canada also provides access to a wide variety of online loans, from personal and car loans to home equity and business loans.
Why choose it
Network of over 60+ lenders. Loans Canada has a large network of lenders, many of which specialize in bad credit loans.
Compare multiple offers. Bad credit loans tend to come with higher interest rates, but Loans Canada makes it easy to compare offers and find the best deal.
Simple application process. It only takes a few minutes to apply online with Loans Canada and then see your lending offers.
Fill out a single application to get multiple loan offers
Bad credit is OK
Access a large network of lenders
Wide range of loan types available
Large loan amounts available
Not a lender
Watch out for high rates if you have bad credit
You're limited to Loans Canada's network of lenders
Loan Amount
$500 – $35,000
APR Range
9.99% – 35%
Loan Term
6 - 60 months
Serviced Provinces/Territories
All of Canada
Turnaround Time
Receive funds in as little as 24 hours.
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Requirements
Canadian resident, age of majority in your province of residence
Like Loans Canada, loan search platform LoanConnect allows you to compare bad credit loan offers in one place. Five-minute pre-approval is available, with the money you borrow available within 24 to 48 hours of applying.
Apply without it affecting your credit
See offers in a few minutes
All types of credit accepted
Large loan amounts available
Not a direct lender
High interest rates for bad credit
You're limited to LoanConnect's network of lenders
Loan Amount
$500 – $60,000
APR Range
8.99% – 35%
Loan Term
3 - 120 months
Serviced Provinces/Territories
All provinces
Turnaround Time
Receive funds in as little as 24 hours.
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Requirements
Canadian citizen or permanent resident, age of majority in your province of residence, current debts must total less than 60% of your income
When unexpected expenses arise, Bree offers cash advances of up to $750 to help you avoid bank account overdraft fees. You don't need to pass a credit check to qualify, and your funds are made available instantly if you're willing to pay a monthly fee. And the best part is that there are no interest charges on the money you borrow, making this an affordable choice if you have bad credit.
Bad credit won't stop you from getting funded
Apply in minutes
No interest charges or late fees
You can get funded without paying any mandatory fees
4.8/5 based on 6,800+ Trustpilot reviews
Costs
0%
Loan Amount
$20 – $750
Loan Term
Next pay cycle (90 days max)
Credit Check
No
Turnaround Time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and within 1 to 3 business days for standard delivery.
Requirements
You must have a bank account with regular income deposits and a Visa or Mastercard debit card with a CVV
Serviced Provinces
All provinces and territories
Apple App Store Rating
4.8
Google Play Rating
4.9
Best 24/7 online payday loans
Life doesn’t just happen during business hours. So when you want a fast online payday loan, you need a lender that approves and funds loans 24/7.
The best 24/7 online payday loan companies have automated approval systems in place, allowing them to assess and approve loan applications day or night. If you’re approved, you can get the funds within minutes via e-Transfer.
Just remember that payday loans are very expensive to repay, so you should always consider other loan options first.
iCash uses an automated approval system to process loan applications, and you can apply online or via a user-friendly mobile app. This popular lender offers instant approval, with funds distributed via e-Transfer. That's why iCash offers some of the best instant online loans in Canada.
Why choose it
24/7 funding. iCash approves and funds payday loans 24 hours a day, 7 days a week.
Fast access to funds. You can apply, get approved and get funded in a matter of minutes.
Positive customer reviews. iCash has an average rating of 4.7/5 based on 2,900+ Trustpilot reviews
Established and licensed lender
Bad credit is OK
Highly rated mobile app
Earn cashback on the cost of borrowing
Very high cost of borrowing
Short repayment period
Loan Amount
$100 – $1,500
Loan Term
7 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
When you need money fast, PAY2DAY offers instant online loans in Canada 24/7. It's quick and easy to apply online with no credit checks, and it takes just one to three hours to get approved and funded. To top it off, PAY2DAY provides 24/7 customer service, so help is always available if you need it.
24/7 approvals, funding and customer support
Fast access to funds
No credit checks
4.9/5 stars based on 8,300+ Trustpilot reviews
Very expensive to repay
Difficult to budget for a short repayment period
Only in AB, BC, ON and NS
Loan Amount
$300 – $1,500
Loan Term
Up to 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
ON, BC, NS
Speed
Within 1-2 hours via e-Transfer once approved
Credit Check
No
Requirements
Active bank account with access to online banking, recurring income
Credit Club is a licensed payday lender that approves and funds loans 24/7. There's an automated approval system in place so you can get funded on weekends and holidays, and you don't need to pass a credit check to qualify. If you're approved, you'll get your funds within minutes via e-Transfer.
Get funded 24/7
Approval in as little as 30 minutes
Established lender
4.7/5 stars based on 3,500+ Trustpilot reviews
New customers can only borrow $100
Extremely expensive
Short repayment period
Only in ON, BC and NS
Loan Amount
$100 – $1,500
Loan Term
Up to 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
ON, BC and NS
Speed
30 minutes
Credit Check
No
Requirements
Canadian resident over 18, have a bank account in your name, a steady income source, a valid email address, and a working phone number
Best online loans with flexible repayments
The best online loans with flexible repayments can be tailored to suit your income and budget. However, they come in different forms.
With a cash advance app, for example, you often don’t have a fixed repayment schedule, so you can repay your loan any time without penalty. With a line of credit, you only pay interest on the money you actually use, not the full credit balance. You can also choose a repayment frequency that suits your needs.
Just be aware that repayment terms vary between lenders, so check the fine print before applying.
Fintech KOHO wins again, thanks to the flexibility of its Cover product. Borrow up to $250 with no credit check or income required, and repay the amount whenever it's best for you.
Borrow with zero interest
No credit checks
Instant access to funds
Flexible repayments
Maximum loan amount of $250
Monthly KOHO Cover subscription fee
Monthly KOHO plan fee (waivable)
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
With a Nyble interest-free line of credit, you have the flexibility to roll over your loan repayment to the next month or the month after if you're short of cash. You can borrow up to $250 with no credit checks, and there are no interest charges or late fees to worry about. Nyble reports your payments to the credit bureau too, so making on-time payments is a simple way to build your credit history.
Could help you improve your credit score
No interest charges
Get funded instantly
4.8/5 stars based on 8,100+ Trustpilot reviews
You can only borrow up to $250
Late payments could hurt your credit score
Monthly subscription fee if you want instant funding
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
Fora's line of credit offers a flexible online borrowing option for people who might struggle to qualify for funding from a traditional lender. You can access up to $15,000 as needed, but you'll only pay interest on the money you use, not on the full credit limit. And with the ability to get funded the same business day, the Fora line of credit is worth checking out if you're searching for an alternative way to borrow money.
Apply online in minutes
Same-day funding
Only pay interest on the money you use
High interest rates
Not available in all provinces
New provider
Loan Amount
$1,000 – $15,000
APR Range
19.9% – 34.9%
Loan Term
Open
Serviced Provinces/Territories
AB, BC, NB, NS, ON and SK
Min. Credit Score
550
Fees
Dishonoured payment fee may apply
Requirements
Steady source of income
Best online personal loans
The best online personal loans in Canada have less strict eligibility requirements than loans from traditional lenders. It’s quick and easy to apply online, but online personal loans have slower funding than payday loans and cash advances, typically providing funds within 24 to 48 hours.
Personal loans have loan terms ranging from 6 to 60 months. Interest rates can be steep for bad credit, so it’s worth comparing options from a range of lenders.
Spring Financial offers online personal loans of up to $35,000. You can apply online in minutes, get approved and funded the same day, and you then repay what you borrow over a term ranging from 6 months to 84 months months. Best of all, you don't necessarily need to have excellent credit to get approved.
Why choose it
Quick funding. Spring Financial offers e-Transfer as a funding option, which is faster than direct deposit.
Borrow up to $35,000. You can borrow up to $35,000 for any legit purpose.
You don't need perfect credit. You can still apply for funding from Spring Financial even if you have fair or bad credit.
Fast access to funds
Completely online application process
All credit scores are welcome to apply
4.6/5 stars based on 19,700+ Trustpilot reviews
High rates for bad credit
You may get approved for a credit builder loan instead
References required
Loan Amount
$500 – $35,000
APR Range
9.99% – 34.95%
Loan Term
6 - 84 months
Serviced Provinces/Territories
All of Canada
Turnaround Time
Within 24 hours
Min. Credit Score
550
Fees
No fees except a $30 NSF fee
Requirements
Min. income of $2,000, min. credit score of 550, 3+ months employed
LoanConnect is a loan search platform that provides quick and easy access to a network of lending partners. Once you fill out a single online application, you'll be able to review personal loan offers from partner lenders. These lenders work with borrowers with all types of credit, with secured and unsecured loans available too. Once approved, you can get your money in as little as 12 hours.
Easy to compare multiple offers
Get pre-approved in minutes
Loans for good and bad credit are available
Wide range of loan types to choose from
Not a direct lender
High rates for bad credit
You're limited to LoanConnect's network of lenders
Loan Amount
$500 – $60,000
APR Range
8.99% – 35%
Loan Term
3 - 120 months
Serviced Provinces/Territories
All provinces
Turnaround Time
Receive funds in as little as 24 hours.
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Requirements
Canadian citizen or permanent resident, age of majority in your province of residence, current debts must total less than 60% of your income
Innovation Federal Credit Union is well worth a look if you're searching for a competitive online personal loan. It offers personal loans of up to $50,000 across Canada (except Quebec), with repayment terms ranging from 1 to 10 years. You also get the freedom to choose a weekly, bi-weekly or monthly repayment plan, and you can pay your loan off early without incurring any extra fees.
Apply online in minutes
Get approved within one business day
Flexible repayment options
Repay early without penalty
Not available in Quebec
Application fees may apply
Not suitable if you have bad credit
High $5,000 minimum loan amount
Loan Amount
$5,000 – $50,000
APR Range
5.95% – 19.45%
Loan Term
12 - 120 months
Serviced Provinces/Territories
All provinces (excluding Quebec)
Turnaround Time
Approval in one business day
Fees
$5 membership fee
Requirements
18 years of age and a Canadian resident
How we chose the best online loans
We’ve chosen the best online loans on this page based on the providers available through Finder and online in the Canadian loans marketplace. These cash loans are not representative of the entire market. When choosing our picks for the best online loans in Canada, we considered each lender’s rates, fees, terms, borrowing amounts, application process, funding speed, eligibility requirements, customer support and feedback, associations, accreditations and perks for borrowers. No single online loan will be the best choice for everyone, so compare your options before applying.
What do I need to apply for online loans in Canada?
While eligibility criteria will vary depending on the online lender, the basic application requirements include the following:
Have a bank account
Meet any credit score requirements
Meet any income requirements and have proof of income
Bottom line
The best online loans in Canada offer a simple application process, loans for less-than-perfect credit, and access to your money the same day (or quicker). From cash advance apps to personal loans and payday loans, there are several options available when you need to borrow money. Compare the best online loans in Canada featured in this guide before deciding where to apply.
Frequently asked questions
It depends on the lender you decide to use. Some lenders prefer that you've been employed for at least 3 months, while others allow other forms of income, including government benefits, pension and social assistance. Check the lender's requirements before proceeding.
Yes, you can. Some lenders offer online loans with no credit check. However, these loans are costly and you'll be approved for small amounts only. Be sure to apply to a legitimate lender.
There are several online lenders that provide loans to residents of Ontario. You can choose from personal loans, short-term installment loans and pay advance apps, while payday loans are also an option but should only ever be considered as a last resort.
Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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Compare lenders in Canada that can approve you quickly for unemployment loans.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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