Apply for an Instalment Loan in Canada

Compare instalment loan offers from licensed Canadian lenders by submitting one short request. Free to use, with no obligation to accept an offer.

Instalment.ca is a loan matching and comparison service, not a lender. We do not make credit decisions or set rates. Your request is passed to a licensed lender or matching partner that assesses it against its own criteria.

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What You Need Before You Apply

Government-issued photo identification.
Proof of income, such as recent pay stubs or bank statements.
Your banking details for deposit and repayment.
Proof of address, if the lender asks for it.

Having these ready speeds up the lender's verification. Approval and funding timelines depend on the lender and on how quickly you provide the documents it requests.

Compare Before You Commit

Use the same amount and term when you compare two offers so the numbers are genuinely comparable. The cheapest headline rate is not always the cheapest loan once fees are included.

The APR, not just the advertised rate.
The total cost of borrowing in dollars.
Administration, broker, insurance, and prepayment fees.
Whether the loan is secured against an asset you could lose.
Whether the payments are fixed or variable.
What a missed payment costs and how it is reported.

Ask for the disclosure document before you sign, and keep it alongside the agreement for your records.

Is the lender licensed in my province?
What is the APR, and what is the total cost of borrowing in dollars?
What fees apply — administration, broker, insurance, or prepayment?
Is the loan secured, and if so, what asset is at risk?
What happens if I miss a payment or want to pay the loan off early?
How and when are funds deposited, and how is repayment collected?

Learn About Loan Types First

Bad Credit Loans

Read how bad credit loans work before you apply.

$500 – $35,000 · 6 months to 5 years

Business Loans

Read how business loans work before you apply.

$5,000 – $500,000 · 1 to 10 years

Car Loans

Read how car loans work before you apply.

$5,000 – $100,000 · 1 to 8 years

Debt Consolidation Loans

Read how debt consolidation loans work before you apply.

$5,000 – $100,000 · 2 to 10 years

Debt Relief

Read how debt relief work before you apply.

$5,000 – $250,000 · varies by program

Emergency Loans

Read how emergency loans work before you apply.

$300 – $15,000 · 1 month to 3 years

Home Equity Loans

Read how home equity loans work before you apply.

$10,000 – $500,000 · 5 to 25 years

Instalment Loans

Read how instalment loans work before you apply.

$500 – $50,000 · 6 months to 5 years

Lines of Credit

Read how lines of credit work before you apply.

$5,000 – $250,000 · revolving

Mortgage Refinancing

Read how mortgage refinancing work before you apply.

$50,000 – $2,000,000 · 5 to 30 years amortization

No Credit Check Loans

Read how no credit check loans work before you apply.

$100 – $15,000 · 2 weeks to 3 years

Payday Loans

Read how payday loans work before you apply.

$100 – $1,500 · up to 62 days

Personal Loans

Read how personal loans work before you apply.

$1,000 – $50,000 · 1 to 5 years

Student Loans

Read how student loans work before you apply.

$1,000 – $50,000 · repayment over 5 to 15 years

Your Rights as a Canadian Borrower

You are entitled to a written disclosure of the cost of borrowing before you sign.
Consumer lenders must be licensed in the province where they operate; you can check with the provincial regulator.
Your credit report may be checked, and your payment history is reported to the credit bureaus.
You can ask about prepayment terms, late fees, and whether the agreement can be cancelled.

The Financial Consumer Agency of Canada publishes plain-language guidance on loans, credit, and debt, and is the best starting point for Canadian borrowers.

Frequently Asked Questions

Is it free to use Instalment.ca?

Yes. Comparing offers through Instalment.ca is free. We may earn a commission from a lender when you click or apply through our links, at no extra cost to you.

Will I definitely be approved?

No. Approval is always decided by the lender based on its own criteria, including your income, credit history, and existing debts. Submitting a request does not guarantee an offer.

How long does it take?

The request form takes a few minutes. Response times vary by lender and by how quickly you provide the requested documents.

What happens to my information?

Your details are submitted to the lender or matching partner so it can assess your request. See our Privacy Policy for details on how information is handled.

What does it cost to borrow?

That depends on the lender, the product, your creditworthiness, and your province. Ask for the APR and the total cost of borrowing in writing before you sign. The federal criminal rate of interest is 35% APR.

Sources

Sources are provided for verification. Instalment.ca is not affiliated with these organisations.

Last updated: September 16, 2026 · Reviewed by the Instalment.ca Editorial Team

We research Canadian lending rules and update this page when the law, the data, or the available offers change. We are not a lender and we do not provide personal financial advice.

Important: This is general information, not financial, legal, or tax advice. Rates and terms vary by lender, creditworthiness, and province, and are not guaranteed. Any figures shown are examples only. Always read the lender's disclosure before you sign.