Personal Loans
A personal loan gives you a lump sum that you repay with interest over an agreed term, usually in equal monthly payments.
Read the personal loans guide →Compare Canadian loan options and understand the real cost of borrowing
Promissory.ca is a free Canadian loan comparison and information service. Compare personal, instalment, car, business and payday loan options, use our calculators, and read plain-language guides built on official sources.
Not a lender
No application fees
Canadian sources cited
No obligation to accept
Loan categories
Understand each product before you apply, including what lenders look at and what it really costs.
Instalment Loans
Instalment loans split repayment into multiple fixed payments rather than a single lump sum.
Read the instalment loans guide →Payday Loans
A payday loan is a short-term loan, typically up to $1,500 and repaid within 62 days.
Read the payday loans guide →Bad Credit Loans
Lenders price risk.
Read the bad credit loans guide →Car Loans
Car loans are usually secured by the vehicle, which means the lender can repossess it if you default.
Read the car loans guide →Business Loans
Business lending is underwritten on the strength of the business, not just the owner's personal credit.
Read the business loans guide →Debt Consolidation
Debt consolidation is a strategy, not a single product.
Read the debt consolidation guide →Mortgages
A mortgage is secured against your home. You choose a term (the period the rate is fixed for) and an amortization (the total repayment period).
Read the mortgages guide →Popular calculators
Client-side tools that work instantly and show the numbers the lender will use.
Loan payment calculator
Work out your monthly payment, total interest and total cost of credit.
Open calculator →APR calculator
Convert a quoted interest rate plus fees into a true annual percentage rate.
Open calculator →Payday loan cost calculator
See what a payday loan costs under the federal $14 per $100 cap.
Open calculator →Compare lending partners
Options from our Canadian lending partners. Promissory.ca is not a lender and does not make lending decisions.
Creditly
Personal loan offers from Canadian lending partners
Compare options with no obligation to accept. Subject to lender criteria.
View optionFundsLeap
Personal and payday loan options for Canadian borrowers
All credit types considered. Approval and terms are set by the lender.
View optionAffiliate disclosure: Promissory.ca is a free comparison and referral service. We may receive compensation from lending partners when you click a partner link or submit an application. This compensation does not affect the information or comparisons we publish.
Borrowing rules in Canada
Key facts, each linked to the official source.
The criminal rate of interest
Since 1 January 2025 the criminal rate of interest is 35% APR, down from 48%.
Read the reference →Payday loan cost cap
Payday borrowing is capped at $14 per $100 in provinces with a payday lending regime.
Read the reference →Browse by city
Local borrowing information for 721 communities across Canada.
Important legal information
Promissory.ca is not a lender, bank, mortgage broker or credit counsellor. We do not make lending decisions and we do not charge you a fee to use this service.
Submitting an application does not guarantee approval. All applications, rates and terms are set and approved solely by the individual lender or licensed professional.
Rates, fees and loan amounts vary by lender, province, loan type and your credit profile. Advertised rates are the lender's lowest offered rate and may not be available to you.
Lenders may perform a credit check with one or more credit bureaus, including Equifax and TransUnion. A hard credit inquiry may affect your credit score.
Borrow only what you can reasonably afford to repay. Late or missed payments may result in additional fees, collection activity and negative credit reporting.