Personal Loans in Canada – Compare Rates & Apply Online
If your score sits in the fair range, see our dedicated guide to personal loans for fair credit in Canada.
Looking for personal loans in Canada? WizardLoans connects you with licensed Canadian lenders offering $100 to $5,000, funded by Interac e-Transfer and often available within 24 hours. We are not a lender – we are a free matching service that compares real offers for you, with your income verified in about 60 seconds and no impact to your credit score to check your rate.
Compare Personal Loans – Soft Inquiry Only, No Score Impact
Table of Contents
- What Is a Personal Loan?
- Personal Loan Amounts and Rates: $100 to $5,000
- How to Get a Personal Loan in Canada
- Who Qualifies
- Personal Loans by Province and Territory
- Frequently Asked Questions
What Is a Personal Loan?
A personal loan is a fixed amount of money you borrow and repay in equal, scheduled installments over a set term. Unlike a payday loan due in one lump sum, a personal loan spreads the cost out, which keeps each payment manageable. It can be used for almost anything – a car repair, rent, debt consolidation, medical bills, or an unexpected expense.
Want the bigger picture first? Compare the best personal loans in Canada by rate, term, and approval before you apply.
Personal Loan Amounts and Rates: $100 to $5,000
Through WizardLoans, lenders offer personal loans from $100 to $5,000. Your rate depends on your credit profile, income, and the amount you borrow:
Comparing the top of the range? See our dedicated $5,000 loan in Canada guide, the $3,000 loan in Canada guide, and the $2,000 loan in Canada guide, with a payment calculator and full cost breakdown.
| Loan Amount | Good Credit (660+) | Fair Credit (580-659) | Poor Credit (below 580) |
|---|---|---|---|
| $100-$500 | 9.99%-19.99% APR | 19.99%-29.99% APR | 29.99%-34.99% APR |
| $500-$1,500 | 11.99%-22.99% APR | 22.99%-31.99% APR | 31.99%-34.99% APR |
| $1,500-$5,000 | 13.99%-26.99% APR | 26.99%-34.99% APR | Available with strong IBV |
Every lender in the network operates within Canada’s 35% federal interest-rate cap. Always confirm the total cost of borrowing – not just the monthly payment – before you accept an offer. For longer-term needs, compare our online installment loans; if your credit is rebuilding, see online loans for bad credit; and for funds sent straight to your account, see e-transfer loans or a cash advance alternative.
How to Get a Personal Loan in Canada
The step that makes funding fast is Instant Bank Verification (IBV) – a secure, read-only connection to your bank account that confirms your income in about 60 seconds. It cannot move money or change anything in your account, and it does not affect your credit score.
- Apply online in about 3 minutes with your income and the amount you need.
- Verify income with IBV – read-only, 60 seconds, no score impact.
- Get matched with real offers showing APR and total cost upfront.
- Accept and get funded by Interac e-Transfer, often within 24 hours.
The initial match uses a soft inquiry only, so comparing your options never affects your credit score. Looking for a faster, smaller amount? See our payday loan alternative.
Who Qualifies
- Steady income – full-time or part-time employment income, verified through IBV, is the strongest path to approval.
- Age and residency – you must be the age of majority in your province or territory, a Canadian resident, with a Canadian bank account.
- Any credit band – good, fair, or rebuilding credit is considered; your income matters as much as your score.
Personal Loans by Province and Territory
Lending rules and consumer protections vary across Canada. WizardLoans connects borrowers in every province and territory with licensed lenders who serve their region. Browse our personal loans by province and territory hub for local details – from British Columbia and Alberta to Ontario, Quebec, the Atlantic provinces, and the northern territories.
Frequently Asked Questions
How much can I borrow with a personal loan in Canada?
Through WizardLoans, lenders offer personal loans from $100 to $5,000. The amount you qualify for depends on your income, credit profile, and existing obligations.
Can I get a personal loan with bad credit?
Yes. Lenders consider your income and banking history, verified through IBV, alongside your credit score, so fair and rebuilding credit can still qualify. Checking your options uses a soft inquiry that does not affect your score.
How fast can I get the money?
With IBV verifying your income in about 60 seconds, many borrowers get a quick decision and receive funds by Interac e-Transfer within 24 hours of accepting an offer.
Does checking my rate affect my credit score?
No. The initial matching process uses a soft inquiry only. A lender may run a hard check at the final approval stage and will tell you first.
Is WizardLoans a lender?
No. WizardLoans is a free loan-matching service that connects you with licensed Canadian lenders, so you can compare multiple real offers from a single application.
For more on your rights as a borrower, see the FCAC personal loans guide and the FCAC credit score guide.
Ready to Compare Personal Loans?
Loan amounts from $100 to $5,000. Income verified in 60 seconds via IBV. Decisions typically within hours, funded by Interac e-Transfer.
Find Your Rate in 2 Minutes – Free, No Obligation
About the Author
Disclaimer: WizardLoans.ca is a free loan-comparison and matching service, not a lender. Loan approval, amounts, rates, and terms are set by third-party licensed Canadian lenders and subject to their eligibility criteria. All loans comply with Canada’s 35% federal criminal interest-rate cap. This page is informational and is not financial advice or a loan offer.