Loan types
Canadian loan types, compared honestly
There are 22 loan families that matter for most Canadian borrowers. Each one is built for a different job, and the differences in cost between them are far larger than the differences between lenders offering the same product.
Short-term and everyday borrowing
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Personal Loans
Compare personal loan offers from Canadian lenders and see what fits your budget.
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Payday Loans
How payday loans work in Canada, what they cost, and why cheaper options are worth checking.
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Cash Advances
What a cash advance really costs, and how it differs from a short-term loan or an instalment loan.
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Instalment Loans
Compare instalment loans with fixed payments spread over a set schedule you agree to up front.
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Short-Term Loans
Compare short-term loan options in Canada and see how repayment timing drives the real cost.
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Emergency Loans
Emergency borrowing in Canada, from payment deferrals to payday loans, and how to weigh speed against cost.
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Small Loans
Small loans in Canada: how lenders assess them, what drives the cost, and how to compare your options.
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Loan Amounts
How loan amounts are decided in Canada, and how to choose a figure you can comfortably repay.
Borrowing with a dented credit file
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Loans for Bad Credit
How borrowing works when your credit history is uneven, and what to check before you apply.
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No Credit Check Loans
How no credit check loans work in Canada, what they really cost, and the alternatives worth comparing first.
Borrowing against something you own
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Car Loans
Car loans in Canada, from dealer finance to bank loans, and how to compare the real cost of borrowing.
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Secured Loans
Secured loans in Canada: how collateral works, what it changes about cost, and the risk to weigh.
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Lines of Credit
A flexible borrowing limit you draw from, repay, and reuse as needed.
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Home Equity Loans
A one-time lump sum secured by the equity in your home, repaid on a set schedule.
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Home Equity Lines of Credit (HELOC)
A revolving home equity line: draw, repay, and borrow again up to your limit.
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Mortgage Refinancing
Replace your current mortgage with new terms, or with a larger loan that frees up equity.
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Home Renovation Loans
Borrowing aimed at one project, from a new kitchen to a basement suite.
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Mortgage Loans
The broad guide to borrowing against a property, from first mortgage to renewal.
Business and consolidation
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Business Loans
A term loan for a defined purpose, drawn once and repaid on a schedule set by the lender.
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Business Lines of Credit
A revolving facility you draw from as needed, with interest on the balance you actually use.
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Equipment Loans
Financing for one specific asset, with the equipment itself securing the borrowing.
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Debt Consolidation Loans
One loan replacing several debts, which helps only when the underlying spending changes.
Sources
- Criminal Code s. 347 — criminal rate of interest —
- Payday Lending Regulations, SOR/2024-114 —
- FCAC — debt and borrowing —
Every figure on this page is attributed to the publisher above. Where a value could not be verified against the publisher's own publication, it is left out rather than estimated.