Top 5 Loan Apps in Canada that offer quick, easy, and reliable financial solutions for various needs, with flexible terms and accessible options for everyone.
Canadian? Need a loan? There are 5 apps that let you borrow money with just your phone, and we’ve got the no frills guide to five of Canada’s top loan apps that will help you when you need some extra dollars.
Here Are The Top 5 Loan Apps In Canada
1. Borrowell
A popular app in Canada that offers personal loans with no hidden fees is Borrowell. With Borrowell you can borrow up to $35,000, which is great for big expenses such as home repairs or paying off debt. The app also allows you to check your credit score for free and see what kind of loan you’re eligible for! Borrowell works with over 50 financial partners so they’re sure to find a loan that suits your needs.
2. Mogo
Mogo is a great app that more than 1.8 million Canadians are already using. They offer low-interest loans with flexible terms. Mogo provides you with easy to use tools to monitor your credit score and manage your money as well, so they could be a good fit for you if these are some things you’re also looking to improve in your life! If you repay your loan on time Mogo will actually let you borrow even more money. And, if within the first 100 days you’re not happy with the loan for any reason, return the money and they’ll refund all of the fees.
3. Fairstone
If you need a larger loan, then you should look into Fairstone as it lends up to $35,000. For people with fair to good credit scores this app will be the most suitable for you. They offer loans at fixed interest rates and have flexible repayment options so if you’re looking for something like a debt consolidation loan or need to cover some unexpected expenses this is definitely an option worth considering.
4. Loan Away
Loan Away is an app that will help you get a loan quickly and with very little hassle. You can borrow between $1,000 and $5,000 using this app – but don’t worry, it doesn’t require any collateral so you won’t need to put your car or your house up for grabs in order to secure the loan. And even if your credit score isn’t stellar, Loan Away boasts a high approval rate so there’s likely a good chance you’ll be able to get the funds you’re looking for.
5. EasyFinancial
EasyFinancial is an app that has been used by over 721,000 Canadians. They offer loans up to $20,000 and if you’re a homeowner you can get a home equity loan of up to $100,000. The app is simple and easy to use as you can apply for your loan and get your money all within the app in just a few minutes. Interest rates start at 29.99% and you have the ability to take anywhere from 9 to 84 months to repay your loan.
You Might Also Like: How To Get Guaranteed $100 loan In Canada? | No Credit Check
Other 3 Apps
Koho
Koho is a loan app but it’s also a financial app. It comes with a reloadable prepaid Visa card and you can get a instant cash advances without any credit checks. You can borrow up to $500 instantly to get by for small emergencies. Other then borrowing money, koho will also help you save money too! When you make purchases using your Koho Visa card the difference between change will be rounded up to the nearest dollar and placed into your savings account, literally let your change creates value for you! So if you are looking for an affordable way of managing money with quick access in needing emergency cash that provides great saving benefits, I say go for Koho.
iCash
iCash is another app that gives fast loans in Canada. You can apply for a loan of between $100 and $1,500 with the money being deposited to your account within minutes after approval. The app is easy to use and you can request for a loan even if you have bad credit. iCash doesn’t do a hard credit check meaning that your credit score won’t be affected by making an application. It is a good option if you need money urgently without having to worry about your credit score.
Pay2Day
Pay2Day is a payday loan app that will allow you to borrow as much as $1,500. This app is best for borrowing short-term loans that are typically due on your next payday. The application process is simple and if you’re approved, you can access your money within minutes. Pay2Day is available in all of Canada and it’s ideal for someone who needs a small amount of money instantly to pay off an emergency bill.
These app-based lenders offer a range of loan types, so you should review each lender to find one that serves your needs. You’ll also want to compare interest rates, borrowing limits, repayment terms and any applicable fees before applying for a loan via the app that’s right for you. If you need just a small personal loan for an emergency or if you require more substantial financing for a big expense, there are options available to easily borrow in Canada using an app.