Best Unsecured Personal Loans in Canada in 2026

The good news is that there are plenty of options out there when it comes to finding an unsecured loan in Canada. We’ve compiled a list of some of the best lenders out there to help you get quick access to the loan you need.

The bad news is that you may encounter high interest rates if lenders consider you a risky borrower. Watch out for hidden fees with any lender you’re considering, and take care to avoid predatory payday loans.

Summary of the best unsecured personal loans in Canada

Loan search platforms

• Loans Canada
• LoanConnect

Direct alternative lenders

• Spring Financial
• easyfinancial
• Blue Copper Capital
• Fairstone

Traditional lenders

• Kindred Credit Union
• Innovation Federal Credit Union

Best unsecured loans in Canada from loan search platforms

First, let’s take a look at the best lending platforms for unsecured loans in Canada.

Loans Canada

8.6 Great

Go to site Read review

$500 – $50,000

Loan Amount

9.99% – 35%

APR

3 - 60 months

Term

• Info
• Pros/cons
• Details

Loans Canada is an online search and comparison website for personal loans. It boasts one of Canada's largest lender databases.

Why it's one of the best

Easy application. You can apply once online and get matched with suitable lenders within minutes.

Huge lender network. With just a single application, you can search a large network of lenders to quickly find the best loan for your needs.

Loans Canada community. Loans Canada has an active community that enables users to rate and review lenders, giving you the opportunity to feel well informed and confidently choose a lender.

• Easy online application
• Fast deposits
• High loan amounts
• Large lender network

• High rates for bad credit
• Potential penalties for early repayment
• Origination fees with certain lenders

Loan Amount	$500 – $50,000
APR Range	9.99% – 35%
Loan Term	3 - 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

LoanConnect

8.8 Great

Go to site Read review

$500 – $60,000

Loan Amount

8.99% – 35%

APR

3 - 120 months

Term

• Info
• Pros/cons
• Details

LoanConnect is another popular Canadian lending platform that enables you to search and compare loans from a database of various lenders.

Why it's one of the best

Simple application. You can submit one quick application to cast a wide net across a large network of lenders. Compare offers in one place.

Varied loan types. LoanConnect allows you to search for many loan types, including personal loans, car loans, student loans and more.

Quick qualification. You can qualify for loan amounts up to $60,000 in a matter of minutes, with no hard credit check to apply.

• Fast pre-approval
• Bad credit options
• BBB-accredited with an A+ rating
• Quick loan funding

• Higher rates for bad credit
• Limited to lender network

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

Best unsecured personal loans in Canada from alternative lenders

Next we’ll dive into all of the best individual lenders for unsecured loans in Canada.

Spring Financial

8.5 Great

Go to site Read review

$500 – $35,000

Loan Amount

9.99% – 35%

APR

6 - 84 months

Term

• Info
• Pros/cons
• Details

Spring Financial provides lending services aimed at helping Canadians build credit and improve their finances through competitive personal loans and credit-building programs.

Why it's one of the best

Credit building. Spring Financial reports loan payments to the credit bureaus to help improve your credit score. If you don't qualify for an installment loan, Spring Financial will offer you its credit-building services to get you on the right track. However, make sure its credit builder loan is right for your current financial situation.

Local established lender. Spring Financial has been providing loan and credit-building products for Canadians since 2015 and is headquartered in Vancouver, BC.

Fast funding. Successful loan applications can be funded on the same day up to $35,000.

• Established lender
• Credit building program
• Fast funding
• 100% online application

• Poor BBB rating
• Complaints about credit building
• High rates for bad credit

Loan Amount	$500 – $35,000
APR Range	9.99% – 35%
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

easyfinancial

8.6 Great

Read review

$500 – $150,000

Loan Amount

9.99% – 35%

APR

9 - 240 months

Term

• Info
• Pros/cons
• Details

easyfinancial provides lending services to Canadians via several types of loan, including unsecured personal loans, with a focus on quick approval and credit building.

Why it's one of the best

Fast quote. You can submit an application in a matter of minutes, with no changes to your credit score.

Well-established. easyfinancial is one of the biggest and most well-known alternative lenders in Canada.

Credit building. easyfinancial can help you build your credit by reporting your repayment history to credit bureaus.

• Unsecured loan options
• 2% reduction when co-applying
• A+ BBB rating

• High rates for bad credit
• Some negative customer reviews

Loan Amount	$500 – $150,000
APR Range	9.99% – 35%
Loan Term	9 - 240 months
Serviced Provinces/Territories	All provinces
Turnaround Time	Approval within 30 minutes
Min. Credit Score	300
Fees	Potential NSF fee, late payment fee, Credit Optimizer fee
Requirements	Min. monthly income of $1,200, min. credit score of 300

Blue Copper Capital

8 Great

Read review

$1,000 – $100,000

Loan Amount

16% – 35%

APR

6 - 84 months

Term

• Info
• Pros/cons
• Details

Blue Copper Capital specializes in unsecured personal loans for non-prime borrowers.

Why it's one of the best

Advance toward better rates. Once you build a history of on-time payments, Blue Copper Capital can offer you better rates.

Online application. Apply online within minutes and receive your money within a few business days.

Flexible loan amounts. Borrow $1,000 to $100,000 (though collateral is required for higher amounts).

• Convenient online process
• Competitive rates for an alternative lender

• Available in BC and AB only
• High rates for bad credit

Loan Amount	$1,000 – $100,000
APR Range	16% – 35%
Loan Term	6 - 84 months
Serviced Provinces/Territories	BC and AB
Turnaround Time	Varies
Fees	$6 per month
Requirements	3+ months employed, active bank account, resident of AB or BC, at least 18 years of age

Fairstone

8 Great

Read review

$500 – $60,000

Loan Amount

19.99% – 34.99%

APR

6 - 120 months

Term

• Info
• Pros/cons
• Details

Fairstone is a long established Canadian lender offering a range of lending products, including quick unsecured loans.

Why it's one of the best

Flexible funding amounts. With Fairstone, you can apply for loan funding between $500 and $60,000.

Large network of branches. With over 250 branches throughout Canada, there's a good chance you'll have the option of in-person service.

Flexible repayment options. Choose a repayment schedule that works for you.

• Quick funding
• Flexible loan terms
• Lots of branches

• High interest rates
• Some negative reviews

Loan Amount	$500 – $60,000
APR Range	19.99% – 34.99%
Loan Term	6 - 120 months
Serviced Provinces/Territories	All of Canada
Turnaround Time	as little as 24 hours
Min. Credit Score	525

Best unsecured personal loans from traditional lenders

Finally, these lenders are worth checking out if you have good to excellent credit.

Kindred Credit Union

7.6 Great

Read review

$5,000 – $35,000

Loan Amount

5.45% – 13.7%

APR

1 - 5 years

Term

• Info
• Pros/cons
• Details

Kindred is a financial co-op based in Kitchener, Ontario. It offers a range of financial products to its members.

Why it's one of the best

Competitive rates. Kindred offers rates that can compete with those offered by most banks.

Fixed or variable rates. Choose between the security of a fixed interest rate or the flexibility of a variable rate.

Pre-approval. You can get a pretty good idea of the loan terms available to you before you commit.

• Competitive interest rates
• Flexible rates
• Pre-approval

• ON only
• Bad credit not accepted
• Application by appointment

Loan Amount	$5,000 – $35,000
APR Range	5.45% – 13.7%
Loan Term	1 - 5 years
Serviced Provinces/Territories	ON
Turnaround Time	Varies
Fees	Unknown
Requirements	Unknown

Innovation Federal Credit Union

7.7 Great

Read review

$5,000 – $50,000

Loan Amount

5.95% – 19.45%

APR

12 - 120 months

Term

• Info
• Pros/cons
• Details

Innovation Federal Credit Union offers online personal loans across Canada, which is not typical for a credit union.

Why it's one of the best

Competitive rates. Get an unsecured personal loan with rates at Prime + 1.5% to Prime + 15%.

Easy process. Get a decision in as little as one business day, which is faster than other traditional lenders.

Fixed or variable rate. Lock in an interest rate for the entire term when you choose a fixed rate, or potentially save on interest if you choose variable.

• Quick application
• Funding within 24hrs
• Minimal documentation required

• High interest rates

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

What is an unsecured loan?

Personal loans are generally either secured or unsecured. An unsecured loan is one that is lent without the borrower being required to provide collateral (such as a vehicle, home or other asset). A secured loan is a loan that does require collateral, i.e. as a form of security for the lender.

Unsecured loans are supported primarily by the borrower’s creditworthiness and overall financial situation, as opposed to a collateral asset. Because of this, unsecured loans will often come with higher interest rates than secured loans, since the lender is taking on more risk.

Types of unsecured loans

Unsecured personal loans in Canada generally fall into three categories:

• Installment loans are your “typical” loan that pays a lump sum upfront, which is then repaid with interest over a specified term. Learn more about the best installment loans.
• Cash advance apps in Canada allow you to borrow small amounts in advance of your next paycheque without the need for a hard credit check.
• Payday loans are short-term, high-interest loans intended to provide quick cash to borrowers who will repay the loan with their next paycheque.

Pros and cons of unsecured loans

Bottom line

An unsecured loan can help you access the cash boost you need without having to put your home, car or any other valuable assets on the line. However, you’ll need a good credit score to access the best interest rates. Online pre-approval with most lenders makes the application process quick and easy.

Frequently asked questions

• How much can you borrow with an unsecured loan?

  The amount of loan funding available varies between lenders and may also depend on your credit score, income and current debt. Generally, unsecured loans are available from $500 to $50,000, depending on the lender you choose.

• Can I be approved for a loan if I'm unemployed?

  There are lenders out there who will approve borrowers as long as they can show evidence of a consistent history of payment. Some lenders will also accept CPP, Canada Child Benefits, EI and other sources of income as proof of funds. Learn more about unemployment loans.

• Why is my loan rate higher than the advertised rate?

  The exact rate you're offered when applying for a loan will vary depending on your credit score, income, debt levels and history of payments. Banks often advertise their best available rates, but you'll need a very good credit score and low debt-to-income ratio to access these.

• Can I get an unsecured loan for bad credit with quick approval in Canada?

  If you've got a bad credit score, your options for fast unsecured loan funding are limited. While payday loans could get you a $1,500 loan, anything greater than that may be difficult to secure. Keep in mind that payday loans are the most expensive type of loan out there, typically offering high APRs in the triple digits.