Debt consolidation
Several high-rate balances replaced with one payment. The point is a lower total cost of borrowing, not just a smaller monthly number.
Most common use
Home/Personal Loans
$10,000 – $75,000
One payment, one end date, and the total cost up front.
For consolidating high-rate balances, finishing the renovation, covering a medical cost or handling the expense that a credit card was never designed for. Many lenders in our network offer fixed-rate, fixed-term loans. Rates and prepayment terms vary by lender.
What people borrow for
Large, one-time, and worth doing properly.
We start at $10,000 for a reason. Below that, a line of credit or a low-rate card is often cheaper, and we would rather point you there.
Home improvement
Roofs, windows, furnaces, kitchens and basements. Often quicker to arrange than a HELOC, with nothing registered against the property.
Usually no home equity needed
Medical & dental
Procedures, orthodontics, fertility treatment and the parts of care that provincial coverage and private insurance leave to you.
Fixed monthly payment
Major life expenses
Weddings, relocation, a family emergency, tuition or immigration costs. Money that has to be there on a specific date.
Typically within 48 hours of approval
Vehicle purchase or repair
A transmission, a private-sale purchase, or replacing a car outside dealer financing. You hold the title, not the lender.
Typically unsecured
Bridging a gap
Between contracts, between property sales, or through a period of reduced income where the alternative is compounding card debt.
12–60 month terms
Consolidation, honestly
A lower payment is not automatically a better deal.
Stretching $40,000 of card debt from three years to six will cut your monthly payment and can still cost you more overall. Before you accept an offer, a specialist can show you both totals side by side: what you would pay carrying the balances as they are, and what you would pay consolidating.
If the second number isn't lower, we will tell you so. Consolidation does not always save money, and it is your decision whether to go ahead.
~20%+Common interest rate on Canadian credit cards. Check your own statements
1Payment, one date, one balance falling
60 moLongest term typically offered
$0Our fee to apply or compare
Eligibility
What lenders typically look for.
Age of majority
19 in most provinces, 18 in Alberta, Manitoba, Ontario, PEI, Quebec and Saskatchewan.
Canadian resident
With a Canadian chequing account in your own name for the deposit and payments.
Steady income
Employment, self-employment, pension or long-term disability. Verifiable is what matters, not the source.
Manageable obligations
Existing debt payments that leave room for the new one. Some lenders consider bruised credit.
Rates and costs
What a personal loan can cost.
APRs range from 7.99% to 35%, depending on the lender and your credit profile. Repayment periods run from 12 to 60 months. The lender sets your rate and discloses the full cost of borrowing before you sign.
7.99%Lowest APR offered through our network
35%Maximum APR offered through our network
12 moMinimum repayment period
60 moMaximum repayment period
Representative example
A $20,000 personal loan repaid over 36 months at 21.5% APR, the average for short-term loans in our network:
$758.65Monthly payment (36 payments)
$27,311.24Total amount repayable
$7,311.24Total cost of borrowing
$0Fees charged by Canada Capital Finance
At the lowest APR of 7.99%, the same loan would cost $626.64 a month ($22,558.86 in total). At the maximum APR of 35%, it would cost $904.72 a month ($32,569.95 in total). These examples assume no additional lender fees. Any fees a lender charges are disclosed in its offer and would increase the total cost. Your actual rate depends on your credit profile and is not guaranteed.
Personal loan questions
Straight answers.
Will applying affect my credit score?
It can. Participating lenders may check your credit to assess your application, and
some checks can appear on your credit file. Ask your specialist what kind of check a
lender will use before you agree to move ahead with that lender.
Do I need to own a home or put up collateral?
Usually not. Most personal loans offered through our network are unsecured, so nothing
is registered against your home or vehicle. If a lender requires security, the offer
will say so before you sign.
What rate will I get?
The lender sets it, based on your credit profile, income stability, existing
obligations and the term you choose. Lenders' offers state the annual rate, the payment, the number of
payments and the total cost of borrowing in dollars before you sign.
I need less than $10,000. Can you help?
Not well, and we would rather say so. Below $10,000 a credit union loan, a bank line
of credit or a low-rate card often costs less than what lenders in our network offer.
Start with your own financial institution.
Can I pay it off early?
Many lenders allow it, and paying early usually reduces the interest you owe. Some
charge a prepayment fee, so check the prepayment terms in your offer before you sign.