Ontario · ON
Loans in Ontario
Ontario borrowers have access to the same core loan types as the rest of Canada, with provincial licensing rules layered on top of the federal 35% criminal rate ceiling. Where payday lending is licensed, the federal $14 per $100 cost cap applies.
- Capital Toronto
- Cities covered here 60
- Combined 2021 population covered 11,677,912
- Payday lending Licensed regime — federal cap applies
Loan types in Ontario
Every product below has a Ontario-specific page with local rules applied, plus a comparison step.
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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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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.
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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.
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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.
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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.
Local rules and licensing
| Rule | Position | Publisher |
|---|---|---|
| Payday lending licensing | Licensed regime — federal cap applies | Financial Consumer Agency of Canada — provincial and territorial regulators |
| Federal cost cap where licensed | $14 per $100 advanced | SOR/2024-114 |
| Federal criminal rate ceiling | 35% per year | Criminal Code s. 347 |
This province operates a licensed payday lending regime, so the federal cost-of-borrowing cap of $14 per $100 advanced applies, or a lower provincial cap if one is in force. Confirm the current cap with the provincial regulator before relying on it.
Cities we cover in Ontario
| City | 2021 population | Rank in province | Local page |
|---|---|---|---|
| Toronto | 2,794,356 | 1 | Loans in Toronto |
| Ottawa | 1,017,449 | 2 | Loans in Ottawa |
| Mississauga | 717,961 | 3 | Loans in Mississauga |
| Brampton | 656,480 | 4 | Loans in Brampton |
| Hamilton | 569,353 | 5 | Loans in Hamilton |
| London | 422,324 | 6 | Loans in London |
| Markham | 338,503 | 7 | Loans in Markham |
| Vaughan | 323,103 | 8 | Loans in Vaughan |
| Kitchener | 256,885 | 9 | Loans in Kitchener |
| Windsor | 229,660 | 10 | Loans in Windsor |
| Oakville | 213,759 | 11 | Loans in Oakville |
| Richmond Hill | 202,022 | 12 | Loans in Richmond Hill |
Population counts are the published census figures, not estimates. See all cities.
Questions from Ontario borrowers
Are payday loans allowed in Ontario?
This province operates a licensed payday lending regime, so the federal cost-of-borrowing cap of $14 per $100 advanced applies, or a lower provincial cap if one is in force. Confirm the current cap with the provincial regulator before relying on it.
What is the legal maximum interest rate in Ontario?
The federal criminal rate of interest is 35% per year, and it applies across Canada. Provinces can add their own licensing and disclosure rules on top, but they cannot raise that ceiling.
How much can I borrow in Ontario?
Lenders set their own limits based on the product and your file, so there is no single provincial number. The Ontario pages for each loan type explain what each lender category typically looks at.
Where do I complain about a lender in Ontario?
Federally regulated financial institutions are handled by the Financial Consumer Agency of Canada. Most other lenders are licensed provincially, and each province has a consumer protection office.
Compare borrowing options in Ontario
We match, we do not lend. Checking does not commit you to anything.
LoanGoose is a loan matching and comparison service, not a lender. We do not make loans, set rates or make credit decisions. We may earn a commission when you click or apply through our links. The lowest rates are only available to the most qualified applicants.
Sources
- Payday Lending Regulations, SOR/2024-114 —
- Criminal Code s. 347 — criminal rate of interest —
- FCAC — debt and borrowing —
- Statistics Canada, Census of Population 2021, table 98-10-0002 —
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.