Compare personal loans from $20 to $50,000 from licensed Canadian lenders in one 60-second application. Fixed monthly payments, no obligation, and comparing won't affect your credit score.
A personal loan lets you borrow a set amount of money and repay it in fixed monthly instalments over a set term. Because the payment and end date are fixed, your budget stays predictable from day one. Loanspot matches Canadians with personal loans from $20 to $50,000 by comparing several licensed lenders from a single 60-second application.
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People use personal loans for debt consolidation, a vehicle, home repairs, a move, medical or dental costs, or simply to cover a larger expense without draining savings. Smaller amounts also work well for an unexpected bill or an e-transfer top-up before payday.
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Apply once and compare real offers from multiple lenders.
Tell us how much you need and confirm your income securely with IBV — no documents to fax.
We match your profile against multiple licensed Canadian lenders so you can compare rate and term.
Pick the offer that fits and receive your funds — often by e-transfer the same or next business day.
The rate and term on a personal loan depend on the amount you borrow, the length of the term, your income and your credit history. Borrowers with stronger credit and steady income generally see lower rates, but because many lenders weigh income heavily, applicants with fair or bad credit are still regularly matched — see bad credit loans if that's you.
To qualify you generally need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income. Income is confirmed through IBV, a read-only check that takes about 60 seconds. Every lender follows Canadian cost-of-borrowing laws and the federal 35% APR cap, and must show the full cost of borrowing before you sign.
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When comparing offers, look at the total cost of borrowing, not just the monthly payment — a smaller payment over a longer term can cost more overall. Choose the shortest term you can comfortably afford.
The questions Canadians ask most before applying.
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Loanspot matches Canadians with personal loans from $20 up to $50,000, depending on your income, the lender and your ability to repay.
Often yes. Many lenders look at your current income and ability to repay rather than your credit score alone, so fair and bad credit are still considered.
Most applicants are matched within minutes, and many lenders fund approved personal loans by e-transfer the same or next business day.
No. Comparing options on Loanspot does not affect your credit score. A lender may only run a check if you move forward with a specific offer.
Generally you need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income verified through IBV.
It depends on the amount, term, your income and credit. All lenders must stay within the 35% APR cap and disclose the full cost of borrowing before you sign.
A personal loan is repaid in fixed instalments on a set schedule, so your payment and payoff date stay predictable for the life of the loan.
One 60-second application. No obligation. No impact to your credit score.
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