Personal Loans in Canada: Compare and Apply with WizardLoans
Personal loans in Canada from $100 to $10000, compared in one place: WizardLoans is a free matching service, not a lender. You see real offers from licensed lenders on a soft check, your income is verified in about 60 seconds through IBV, and no lender can charge more than 35% APR.
The short answer
- Amount: personal loans from $100 to $10000, repaid in fixed monthly payments over months, not a two-week term.
- Why compare, in dollars: $5000 over 36 months costs $807 in interest at 9.99% APR and $2,640 at 29.99%. Same loan, $1,833 apart. No lender can charge over 35% APR.
- Who gets the lower rates, honestly: fair to good credit (about 600 and up) with steady full-time or part-time job income. All credit is considered, and matching uses a soft check.
- Who pays us: WizardLoans is a comparison service, not a lender. Lenders pay us a referral fee; you pay nothing to compare.
Best personal loans in Canada, compared · What a low rate really costs
Provinces and territories covered
How do personal loans through WizardLoans work?
A personal loan through WizardLoans is $100 to $10000 repaid in fixed monthly payments over 6 to 60 months, with the rate set by the lender you choose and never above the 35% APR federal ceiling. You fill in one application, lenders in the network return written offers, and you sign only if the terms suit you.
- Flexible payment terms
- Customized repayment schedules
- No prepayment penalty
- Convenient payment options
What does a personal loan cost in Canada?
The same $5000 over 36 months costs $807 in interest at 9.99% APR, $1688 at 19.99% and $3142 at the 35% legal ceiling, so the rate you compare into is almost the whole cost. The table below shows the monthly payment at each rate, and our low interest personal loans page explains what moves a lender from one row to the next.
Our Lenders interest rates are competitive & affordable.
Compare offers and boost your approval odds across our network of licensed Canadian lenders. Wizard Loans is not a lender, we are a free matching service that lines up real rates and terms from multiple lenders so you can choose the right personal loan in one place, without the legwork.
| Rate | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| 9.99% APR | $161.31 | $807 | $5807 |
| 14.99% APR | $173.30 | $1239 | $6239 |
| 19.99% APR | $185.79 | $1688 | $6688 |
| 24.99% APR | $198.77 | $2156 | $7156 |
| 29.99% APR | $212.23 | $2640 | $7640 |
| 35.00% APR | $226.18 | $3142 | $8142 |
Payments use the standard amortization formula on a fixed-rate loan with no fees; a lender that adds an origination fee must show it in the written offer before you sign. The same math at other amounts sits on our $2000 loan and $5000 loan with bad credit pages.
Fill out as many details as possible on your application to speed up the process and receive your money sooner.
Upon pre-approval, you will be directed to a link to connect your bank account.
Which personal loans can you compare on WizardLoans?
WizardLoans compares three kinds of personal loan from $100 to $10000: personal loans for bad credit, installment loans with fixed monthly payments, and online loans you apply for from home, all from licensed Canadian lenders and all under the 35% APR cap. Longer terms are covered on our long term loans page and the lender field on best installment loans in Canada.
We charge no fees!
There are no hidden fees or charges with wizardloans.ca.
| Route | Typical rate | Monthly payment at that rate | Total interest | Time to money |
|---|---|---|---|---|
| Bank personal loan | About 8% to 15% on a strong file | At 10%: $161.34 | $808 | 3 to 10 business days, often a branch visit |
| Credit union line of credit | Prime (4.45% as of October 14, 2026) plus a margin | At 9.45%: $160.05 | $762 | About a week, membership required |
| Online lender through WizardLoans | 9.99% to 35% by credit profile | At 19.99%: $185.79 | $1688 | Offers in minutes, direct deposit often the next business day |
| Credit card balance | About 22.99% purchase rate | At 22.99%: $193.52 | $1967 | Already in your wallet, no fixed end date |
| Payday lender | Not available at this amount | $1500 is the legal maximum | n/a | n/a |
Bank and credit union rows need a strong credit file and time; the online row is where fair to good credit gets a decision within minutes of applying. Interest in every row is the standard amortization figure at the rate shown; prime is the Bank of Canada-linked rate the big banks published on October 14, 2026.
Who qualifies for a personal loan through WizardLoans?
Lenders in the WizardLoans network approve Canadians of the age of majority in their province (18 or 19) with steady full-time or part-time employment income verified by IBV, a Canadian bank account and a working phone number; fair to good credit gets the lower rates, and all credit is considered. A thin file can add a cosigner, choose between secured and unsecured terms, or start with a second chance loan.
Our lenders offer personalized loans to cater to your specific needs.
Just use our online application to get pre approved. If you're approved, you'll be taken to a page for Instant Bank Verification. Here, you'll confirm your details with a lender eager to work with you.
The cost of your credit as a yearly rate
The dollar amount the credit will cost you
The amount of credit provided to you on your behalf
Everything you repay: the amount financed plus the finance charge
How long do approval and funding take?
About 15 minutes of your own time takes you from the form to a signed agreement on a soft check, then the lender sends the money by direct deposit, often the next business day. The full sequence is on how personal loans work, and the short answers are in the personal loan FAQ.
Our lenders provide prompt approval of loans, so you can get the money you need without the wait.
A personal loan repaid over months costs far less per dollar than a two-week high-cost loan, and a personal loan for bad credit is written for people with less than perfect credit, so comparing first keeps the cost down and the repayment realistic.
Where in Canada can you compare and apply?
You can compare and apply through WizardLoans from all ten provinces and all three territories; the same online application works everywhere. The age of majority is 18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan, and 19 in British Columbia, New Brunswick, Nova Scotia, Newfoundland and Labrador, Nunavut, the Northwest Territories and Yukon; the 35% APR ceiling is federal law and applies in every one of them. Our personal loans by province guide covers local rules and protections.
Frequently Asked Questions About Personal Loans in Canada
How much can I borrow with Wizard Loans?
You can compare personal loans from $100 to $10000 offered by licensed Canadian lenders. The amount you qualify for depends on your income and overall profile.
Does comparing loans affect my credit score?
No. Checking your options uses a soft inquiry with no impact to your credit score. A hard credit check only happens if you choose to move forward with a specific lender.
Is Wizard Loans a lender?
No. Wizard Loans is a free comparison and matching service. We connect you with licensed Canadian lenders so you can compare real rates and terms in one place, then apply with the offer that fits.
How is my income verified?
Lenders use Instant Bank Verification (IBV), a secure, read-only connection that confirms your income in about 60 seconds without affecting your credit score.
What interest rates can I expect?
Rates vary by lender and credit profile and are always shown as an annual percentage rate (APR). Every loan in our network complies with Canada's federal criminal interest rate cap of 35% APR.
Which provinces and territories does Wizard Loans serve?
All 10 provinces and 3 territories, completely online. See our personal loans by province and territory guide for local details.
Do I need a full-time job to qualify?
No. Lenders look for steady employment income, full-time or part-time, that lands in your bank account by direct deposit; IBV reads those deposits in about 60 seconds. Income that does not arrive as regular deposits is harder to verify and draws fewer offers.
What do I need to apply?
A Canadian bank account that receives your pay, a working phone number and email, your address, and the age of majority in your province. There are no documents to upload: IBV replaces pay stubs and bank statements.
Compare your options: Personal Loans, Installment Loans, How Personal Loans Work, and Loans for Bad Credit.
Helpful Canadian resources: Learn more from the Financial Consumer Agency of Canada (FCAC) and read the FCAC guide to payday loans and alternatives before you borrow.
Compare Personal Loans Now, Soft Check Only, No Score Impact
Photos by Mikhail Nilov on Pexels. Wizard Loans is a loan comparison and matching service, not a lender. Loan approval, rates, and terms are determined by third-party licensed lenders.