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Personal Loans in Canada
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Compare personal loan offers from Canadian lending partners. Borrow $500 to $50,000. All credit scores welcome. No obligation to accept any offer.
What Is a Personal Loan in Canada?
A personal loan is an unsecured loan that allows Canadians to borrow a lump sum of money and repay it in fixed monthly instalments over a set term — typically 6 months to 5 years. Unlike a mortgage or car loan, a personal loan does not require collateral, which means your home or vehicle is not at risk if you face difficulty repaying.
Canadians use personal loans for home renovations, medical expenses, wedding costs, travel, debt consolidation, and emergency expenses. The interest rate you receive depends on your credit score, income, and the lender's criteria — which is why comparing offers through BorrowMoney.ca is so important.
Personal Loan Rates in Canada (2025)
| Credit Score | Rating | Typical Rate Range | Availability |
|---|---|---|---|
| 760 – 900 | Excellent | 6.99% – 12% | All lenders |
| 700 – 759 | Good | 12% – 19.99% | Most lenders |
| 650 – 699 | Fair | 19.99% – 29.99% | Many lenders |
| 550 – 649 | Poor | 29.99% – 46.96% | Select lenders |
| 300 – 549 | Bad Credit | 29.99% – 46.96% | Specialist lenders |
*Rates are approximate and vary by lender, province, and individual circumstances. OAC = On Approved Credit.
How to Apply for a Personal Loan in Canada
Fill Out One Form
Complete our simple 2-minute application. No SIN number required at this stage.
Get Matched Instantly
We may match your request with participating Canadian lending partners based on the information you provide.
Review Any Offers
Review personalized loan offers, compare rates and terms, and choose the one that works best for you.
🇨🇦 Canadian Lenders in Our Network
We connect you with trusted lending partners including banks, credit unions, and licensed online lenders:
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Compare available personal loan options through BorrowMoney.ca. Takes about 2 minutes. No obligation.
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