Easyfinancial Personal Loan: how it works in Canada
If you’ve been denied a loan by a bank or credit union, easyfinancial might offer the flexibility you need.
This lender is known for working with Canadians who have non-prime or low credit scores.
*We are not affiliated with easyfinancial. Our content is for informational purposes only. We may earn advertising revenue through banners and sponsored placements on this page.*
Taxes and fees
easyfinancial offers personal loans to a wide range of credit profiles, but interest rates can vary depending on your financial situation.
Regulated lending notice: easyfinancial is a division of goeasy Ltd., a publicly traded Canadian company regulated under federal and provincial lending laws.
Loan simulator (estimates only)
Below are examples of how your payments might look depending on the loan amount, term, and APR.
| Loan Amount | Term | APR | Estimated Monthly Payment |
|---|---|---|---|
| $3,000 | 18 months | 29.99% | $208.41 |
| $8,000 | 36 months | 39.99% | $346.80 |
| $15,000 | 48 months | 29.99% | $538.04 |
*This loan calculator provides only estimated values. Actual loan terms may vary depending on your credit profile, lender, and location. This is not a financial offer.*
Why Canadians choose easyfinancial
easyfinancial has grown to serve over one million customers in Canada by offering fast decisions, large loan limits, and a more flexible approach to credit than traditional banks.
- Secured and unsecured loan options;
- Credit-building opportunities with on-time payments;
- Available online or in over 400 locations nationwide.
Compare easyfinancial to other Canadian lenders
Here’s how easyfinancial compares to similar non-prime loan providers.
Compare top lenders for fast personal loans
| Lender | APR | Amount | Funding Speed |
|---|---|---|---|
| easyfinancial | from 29.99% | $500 – $20,000 | 24 hours |
| Money Mart | 29.9% – 46.9% | $500 – $15,000 | Same day |
Eligibility requirements to apply with easyfinancial
To apply for a personal loan, you must meet the following criteria:
- Be at least 18 years old (or 19 in some provinces);
- Have a stable source of income (employment or government benefits);
- Have a Canadian bank account in your name;
- Provide valid government-issued ID;
- Submit proof of address and income.
How to apply with easyfinancial
You can apply online through the official easyfinancial website or in person at one of their 400+ branches across Canada.
Applications are accepted in all provinces and territories except Quebec. The process is straightforward:
- Complete a short application online or at a local branch;
- Provide valid ID, proof of income, and proof of address;
- Wait for a same-day decision (in most cases);
- If approved, review and sign your loan agreement;
- Receive the funds via direct deposit often within hours.
Applications from Quebec residents are not accepted. You must apply directly with easyfinancial third-party sites or brokers are not supported.
Support is available online, by phone or in person if you need help at any step.
Frequently Asked Questions
Have questions about how loans work? You’re not alone.
Whether you’re wondering, this section covers the most common questions Canadians have.
Editorial Verdict
easyfinancial stands out as one of Canada’s leading non-prime lenders, providing accessible personal loans to individuals who may not qualify with traditional banks.
Its strength lies in approving applicants with varied credit backgrounds, offering flexible repayment options, and disbursing funds quickly when needed.
The digital-first application process is simple, and many borrowers appreciate the opportunity to build or rebuild their credit through on-time payments reported to major credit bureaus.
That said, while easyfinancial can be a helpful financial lifeline, it’s important to approach the offer with clarity. Loan terms can vary significantly depending on your profile.
So take time to carefully review your contract, including the APR, total cost of borrowing, and prepayment options. This will ensure you’re making an informed decision that fits your current situation and long-term goals.
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