Personal Loans Directory — Canada 2026
Compare personal loans from major banks, credit unions and alternative lenders. Rates, amounts and terms shown are approximate and change frequently. Always verify directly with the lender.
Compare Personal Loans
Filter by lender type or typical rate range. Data is illustrative based on publicly advertised ranges in 2026 and does not guarantee eligibility or exact pricing.
| Lender | Typical APR Range | Loan Amount | Term | Best For | Notes |
|---|---|---|---|---|---|
| TD Bank Bank | from ~6.99% | $2,000 – $50,000 | 12 – 60 mo | Existing customers, good credit | Competitive fixed rates |
| Scotiabank Bank | from ~7.49% | $1,000 – $50,000 | 6 – 60 mo | Flexible terms | Optional payment protection |
| RBC Royal Bank Bank | from ~7.99% | $1,000 – $50,000 | 12 – 60 mo | Digital application | Fast online process |
| BMO Bank | from ~8.49% | $1,500 – $35,000 | 12 – 60 mo | Fixed payments | No hidden fees claimed |
| CIBC Bank | from ~8.99% | $3,000 – $200,000 | 12 – 60 mo | Larger amounts / HELOC options | Higher max loan size |
| easyfinancial Alternative | 9.99% – 35% | $500 – $150,000 | 9 – 240 mo | Broader credit profiles | Popular direct lender |
| Spring Financial Alternative | 9.99% – ~35% | $500 – $35,000 | 6 – 84 mo | Online, flexible credit | Fast digital process |
| Fairstone Alternative | ~19.99% – 35% | $500 – $50,000+ | 6 – 120 mo | Secured & unsecured options | Homeowners often favoured |
| Mogo Alternative | ~9.9% – 35% | $300 – $35,000 | Varies | Digital-first borrowers | Also offers LOC products |
| LoanConnect Marketplace | ~8.99% – 35% | $500 – $60,000 | 3 – 120 mo | Compare multiple offers | Single application → matches |
| Loans Canada Marketplace | ~8.99% – 35% | $500 – $50,000 | 6 – 60 mo | Wide lender network | Soft credit check common |
| Borrowell Marketplace | from ~2.99%* | $500 – $50,000 | Varies | Credit-building focus | *Lowest rates for excellent credit |
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Quick Guide to Personal Loans in Canada
Federal Rate Cap
Since 2025 the criminal interest rate is capped at 35% APR. Legitimate lenders cannot legally charge more on personal loans.
Banks vs Alternatives
- Banks & credit unions: lower rates, stricter credit/income requirements
- Alternative lenders: more flexible, higher rates, faster funding
- Marketplaces: one application, multiple offers
What Affects Your Rate
- Credit score & history
- Income stability & debt ratios
- Loan amount & term length
- Existing relationship with the lender
Before You Apply
- Check your credit report (Equifax / TransUnion)
- Compare APR (includes fees) not just interest
- Understand prepayment privileges
- Avoid stacking high-cost short-term loans
Frequently Asked Questions
Can I get a personal loan with bad credit?
Yes. Many alternative lenders and marketplaces work with fair or poor credit, though rates will be higher (often 20%+). Banks usually require good to excellent credit for their best rates.
Do loan marketplaces hurt my credit score?
Most use a soft credit check for initial matching, which does not affect your score. A hard inquiry typically occurs only when you formally apply with a specific lender.
Are rates the same in every province?
The 35% federal APR cap applies nationwide. Some provinces have additional rules for payday-style loans. Product availability can vary by province.
How long does funding take?
Banks often take 1–3 business days after approval. Many online alternative lenders and marketplaces can fund within 24–48 hours once documents are verified.
This page is an educational directory only and does not constitute financial, lending or legal advice. Interest rates, loan amounts, terms and eligibility criteria change frequently and depend on your individual circumstances, credit profile, province of residence and the lender’s underwriting. Always confirm current details directly with the lender or on their official website. We do not arrange, broker or guarantee any loans. Borrowing money costs money — only borrow what you can afford to repay.