Compare Personal Loans in Canada ($500 to $50,000)

Updated 20 August 2026 · How we compare apps

Canadian personal loans typically run from a few hundred dollars up to $50,000, paid back in instalments with interest. Check offers in the form below. Checking at this stage does not affect your credit score. If you only need a few hundred dollars today, a cash advance app may fit better than a loan.

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Check personal loan offers

Loans Canada is a comparison service, not a lender. It matches you with lenders across Canada in a few minutes. Many partner lenders work with lower credit scores. Fill in the form. It does not affect your credit score at the matching stage.

Partner link. Loans Canada is a comparison service, not a lender.

How do personal loans in Canada work?

A personal loan gives you an upfront lump sum. You pay it back in instalments over time, plus interest. Interest can be fixed, meaning the rate stays the same for the life of the loan, or variable, meaning it can change. Most terms run from a few months to several years. Amounts start as low as $100 on some products and go up to $50,000 or more. As long as you meet the lender’s rules, you can use a personal loan for bills, debt consolidation, a car, home work, or a similar expense.

Personal loans are secured or unsecured. A secured loan needs collateral, meaning an asset the lender can claim if you stop paying, such as a vehicle or a savings account. Most personal loans are unsecured, so they do not need collateral, and the rate is usually higher to match that risk. Funds are typically transferred to your account once the lender finishes underwriting, which is the review of whether you can afford to repay. That is slower than a cash advance app and it can affect your credit score once you apply with a specific lender, even though checking your rate in the form above does not.

More on Canadian personal loans if your credit file is thin or bruised.

What do you need to get a personal loan?

Each lender’s application differs, but most Canadian personal loans look at the same few things. Before you apply, it helps to understand what actually drives approval in Canada, from direct deposit and income verification to how much you request. Our guide on how to get approved for a personal loan in Canada breaks down the factors you can control before you submit.

• Income. Most lenders have a minimum income threshold. You will usually need proof of income, for example a T4 slip.
• Debt-to-income ratio (DTI). DTI measures how much of your monthly income already goes to debt payments. A DTI of 44% is around the highest most lenders want to see. Higher than that and many will reject you.
• Employment history. Lenders typically like to see that you have been with the same employer for 3 to 6 months, to show income stability.
• Credit score. Lenders may ask permission to run a credit check. Your credit history can change both whether you qualify and the interest rate you are offered.

Where can you get the best personal loans in Canada?

The form above is the live matching path. The six names below are the lenders this page has always covered, with the figures that were already published here. None of them is a cash advance app. Rates, limits and terms change. Confirm on the lender’s own site or in a matched offer before you sign.

#1 Spring Financial

Spring Financial offers online borrowing with limits up to $35,000, without a branch visit. Apply using Spring’s form, with loans starting at $500. Repayments may be reported to the credit bureaus, which can help build credit. You need to be the age of majority in your province, hold valid ID, and show some form of income. The amount you qualify for depends on credit history, current income and current debt, so a stronger file usually means a higher limit and a better term.

Funds typically arrive in 1 to 2 business days. Repayment terms run from 9 to 60 months. Published selling points on this page: 100% online application, no penalties for early payment, and flexible borrowing from $500 to $35,000 with bi-weekly or monthly repayments. Spring has also been described here as same-day funding in some cases, and rates as low as 9.99%. Confirm both in the offer you actually receive.

#2 Mogo

Mogo offers up to $3,500 to bridge a gap between paycheques or cover an emergency. Despite advertising itself as a Canadian personal loan, Mogo’s terms make it clear that MogoMini is a line of credit and not a term loan. A line of credit is a reusable limit you draw against. Minimum payments on this product do not include any part of the principal balance, so paying only the minimum will not pay the loan down.

To get money from Mogo you need a steady income for at least 30 days, a minimum annual net income of $13,000, and verification (bank information and a copy of your ID). You also need to live in British Columbia, Alberta, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island or Newfoundland, and be the age of majority in your province. Most Mogo loans come with a “test drive”: if you do not like the experience in the first 100 days, you can pay back the principal and Mogo will refund fees or interest already paid.

Other published points: a Level Up feature that can raise the limit after on-time payments, pre-approval in as little as 3 minutes without hurting your credit score, and Smart Alerts that remind you of upcoming payments.

#3 Fig

Fig offers personal loans for Canadians with rates advertised as low as 8.99% APR, funds in as little as 1 day, and no early repayment fees. APR is the yearly cost of borrowing, including interest and required fees. Download the app and share your details to see how much you qualify for, and a fixed-rate offer, without affecting your credit score. Complete the application in less than 10 minutes with no phone calls or branch visits. This page has previously stated that Fig has funded $200 million or more and been used by thousands of Canadians. Confirm current figures on Fig’s own site.

Fig is backed by Fairstone Bank, which this page has described as bank-level security for your data. The self-service portal lets you make early payments, pay extra, or change payment method. Pay off part or all of the loan any time without early-repayment fees, so you can pay less interest over the life of the loan.

#4 Fairstone

Fairstone offers secured and unsecured personal loans for Canadians up to $60,000, online or at 250 or more branches across Canada. A high limit can cover emergencies or larger planned spending. Secured personal loans are the better path for homeowners who want a higher limit (up to $60,000) and a lower rate. Home ownership is required for that product.

If you are not a homeowner, Fairstone offers unsecured loans up to $25,000 with terms from 6 to 60 months. There is no penalty for paying off the loan early. Online unsecured loans can deposit funds in as little as 24 hours. Payment plans include monthly, semi-monthly, bi-weekly or weekly. Whether you apply online or in a branch, you get 1-to-1 support from a lending specialist.

#5 Skycap Financial

Skycap offers personal loans up to $10,000 and advertises itself as an alternative to banks that reject everyday Canadians. Skycap says it considers your current circumstances rather than only past credit history. Lending decisions are based on three factors: your credibility, your stability, and your current income.

You can apply in under 5 minutes and get a quick decision. Once approved, funds go to your nominated bank account. Unlike a payday loan that demands the full balance on the next paycheque, Skycap offers terms from 9 to 60 months (5 years). Payments are automated, with some flexibility if you need to delay a payment. APR depends on credit history. The page has positioned Skycap for borrowers with bad credit or a past bankruptcy, and noted that $10,000 is higher than iCash’s $1,500 cap. You need valid government-issued photo ID.

#6 iCash

iCash advertises e-transfer loans in Canada with up to $1,500 available, instant automated approval, and funds sent 24 hours a day. Select the amount, choose a repayment plan, and provide a few personal details. The application is analysed with an immediate decision. After you sign the agreement, funds can arrive in as little as 2 minutes. This page has previously stated that iCash has issued over 2.3 million loans since 2016.

The application is online, 24 hours a day, with no documents required according to iCash’s marketing. Membership perks have included up to 20% cashback on the cost of borrowing when you complete a loan. Terms and conditions apply. iCash sits at the small end of this list. If $1,500 is not enough, Skycap, Spring, Fig or Fairstone, or the matching form above, are the larger paths.

Only need a few hundred dollars?

A personal loan is slower and involves a credit check once you apply with a lender. If your need is $750 or less and you can wait about 3 business days, Bree advances up to $750 at $0 standard delivery. If you live in British Columbia, Ontario or Alberta and want Interac in minutes, Wagepay is a licensed payday lender (BC 86410, Ontario 4741466, Alberta 359836) that starts at $100, so you get a little extra room, at an establishment fee of up to 14% ($14 on $100).

Lender figures on this page are the ones already published here for Spring, Mogo, Fig, Fairstone, Skycap and iCash. The matching form is Loans Canada, range $500 to $50,000. Bree and Wagepay figures are from brief sources checked 19 August 2026. How we compare apps · Last checked 20 August 2026