Best Online Loans in Canada 2022

Discover The Top Online Loans Companies in Canada – Compare & Save With Insurdinary
Get fast online loans in Canada with low sign up fees and conservative interest rates. Compare the best online loans and choose the ideal option for you with Insurdinary.
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Strapped for cash? Need a business loan?
Need to pay for school? We can help.

Check out our 2020 comparison guide below and discover the top-ranking loan options in Canada. Compare options by interest rate, conditions, credit requirements, and more.
Learn all about our recommended online loan providers and how to get the best rates for you or your business.
Lending Mate Logo Slim
With Lendingmate, you can borrow up to $10,000 within 24 hours, making them one of the fastest and most flexible online lenders in Canada. They also take a unique approach, calling themselves an “old fashioned guarantor loan company” that aims to build trust with their customers.

Rather than using a computer to determine whether you are eligible for a loan, Lendingmate reviews the information in detail and matches people up with a custom plan.


Lender, not a broker
Bad credit score OK
Maximum loan amounts of $2,000 and $10,000
Loan terms between 12 and 60 months
No fees
Maximum 43% APR
Loan Connect Logo Slim is considered Canada’s #1 search engine for personal loans. Instead of being a direct lender, LoanConnect helps Canadians find and compare multiple online loan options.

You can get pre-approved for loans ranging between $500 to $50,000 and even sign up for loans within a day. Use their safe and secure system to find the best personal loan or installment loan for your needs.


Get loans between $500 to $50.000
Pre-approval within 5 minutes
Loan terms between 6 and 60 months
Rates as low as 4.6% APR
No hard credit check
Get money deposited in as little as 12 hours
scotiabank loans logo
Scotia Plan Loan offers two very attractive types of personal loans, fixed and variable. Regardless of which one you select Scotia Plan Loans offer loan security, online loan management, interest rate options, customized payment structures and even flexible terms. You are even able to calculate your payments using a payment calculator.


Borrow a specific amount of money, even for large purchases or downpayments
Structured monthly payments which include principal options
Receive funds upfront
Simple application process directly through Scotia advisors
Easy online booking method
Choose between fixed or variable loan options
Quickly estimate repayment amounts with an online calculator
Td Canada Trust Logo Slim
TD Canada Trust provides a nifty Personal Loan Calculator to see your possible monthly payment, helping you decide how much money you can comfortably borrow through a personal loan. They also offer Personal lines of credit and Student lines of credit.

You can access the amount of credit you need to cover unexpected expenses, home renovations, education, and more. Borrow up to $50,000 and create a custom repayment plan to suit your budget.

TD Canada Trust

Borrow up to $50,000
Create a custom repayment schedule
Fixed or variable interest rates
Get funds upfront
Debt consolidation loan calculator
Personal cash flow calculator
Interest rates as low as 2.09% (variable) or 6.54% (fixed)

Online Loans Canada -
How to Choose the Best Option

There are many factors you should consider before applying for an online loan. Borrowing money for any reason is a serious decision because you need to be sure that you can pay the money back, including any interest that accrues.

It’s recommended that you compare multiple online loan options before choosing the right loan for you.

With Insurdinary, you can compare the best online loans in Canada in one place.
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Interest Rates

A high interest rate means that you will be paying back a higher percentage of the principle on top of the original amount borrowed. Low interest rates are typically available to borrowers with good credit.

Interest Grace Periods

You can also usually avoid paying a lot in interest if you pay off the loan in full before the end of the grace period.

Loan Amount

Even though you can borrow up to $50,000 from some lenders, that doesn’t mean you should. Due to possible fees and interest rates, you should only borrow as much money as you realistically need.


Does the lender tack on fees for late payments or even early payments? Be sure to read the terms and conditions thoroughly so you won’t face any unexpected (and expensive) surprises.

Repayment Options

Discuss a custom payment plan with your lender and find a solution that suits your budget to avoid getting roped into a payment plan you can’t afford.

Apply for Loans Online and Discover Other Financial Options

Looking for online loans in Canada? Read Insurdinary’s guide to find out more.

Compare Canada’s best lenders based on their loan amounts, interest rates, fees, and more. We also get users set up with other financial options, like Credit Cards, Checking Accounts, and Mortgage options.
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Personal Loans
Frequently Asked Questions (FAQ)

You’ve got questions, we’ve got answers. Learn all about finding and applying for personal loans online in our FAQ section below.

Where can I borrow money online?

There are many places where you can borrow money online. One of the best and most secure ways is through signing up for an online loan through a trusted lending company.

Our 2020 guide outlines the most reliable online lenders in Canada. Compare options and apply for the loan that suits your needs to secure money fast.

What is an online loan?

An online loan is money that is borrowed from a lender who does business online. You can search for lenders, compare options, and apply for loans online with ease.

Alternative options include applying over the phone or at your local bank, in person.

How does online lending/borrowing work?

With online lending, lenders collect your information to determine which lending options you are eligible for. Then you, as a borrower, decide whether the terms and rates suit your needs and budget. Some lenders provide money upfront in as little as 12 hours.

Are online loans a good idea?

Online loans are a good idea if the money is borrowed through a reputable lender with a secure website. Security and confidentiality are important, so Insurdinary only recommends companies that maintain these high standards.

Simply choose a lender, submit your details, and get money sent to you when you need it.

What is the best online loan?

The “best” online loan varies based on your unique needs. We’ve recommended lenders that offer low interest rates, great repayment plans, and a variety of borrowing options.

You’ll need to consider your own financial situation before choosing the best loan for you.

How do I find online loans with low interest rates? recommends a variety of online lenders that offer low interest rates, including variable and fixed interest rate options.

What’s “low” may depend on your credit score, the amount of money you want, and what your repayment schedule will look like.

Can I qualify for a loan if I have bad credit?

In short, yes. Not all lenders require a credit check, but many do. Most banks require a soft credit check to determine pre-approval, then a hard credit check if you agree to sign up for the loan.

Some brokers don’t require a credit check at all and will set you up with lenders who will send you money within a day, no matter whether you have bad or good credit.
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