Lenders in Canada advertise a headline or nominal rate because it is a short number. The figure the local rules treat as the yearly cost of credit is APR. It folds in compulsory fees. That is the number to sort by if you care about what you pay, not what the advert leads with.
What usually sits inside APR
- Interest, expressed as a yearly rate.
- Arrangement or set-up fees that you must pay to take the loan.
- Compulsory monthly or invoice fees.
Optional insurance and fees you can decline are often outside it. Read the fee line on the card. Two loans with the same headline rate can have different APR if one charges a large set-up fee.
Term still matters
APR is a yearly measure. Stretching the term can leave APR similar and still increase the interest you pay in total. Put the same amount and term into the loan calculator, then compare live offers on personal loans.
Next: how Buckmatch compares loans and when consolidation pays. Providers on those pages are supervised by OSFI and the FCAC.
Spring Financial Personal Loan
- Nominal
- 9.99%–34.95%
- Loan amount
- $500–$35,000
- Term
- Up to 84 months
- Direct lender
- Same day
- 18+
Unsecured loans $500–$35,000; terms 6–84 months; interest 9.99%–34.95%; APR 9.99%–35.00%. Age of majority, Canadian government ID, active Canadian bank account and steady income required. Application is free. Funds by EFT after signing. Soft inquiry first; a hard inquiry is only done with consent if needed. Lends in all provinces/territories. Source: springfinancial.ca/help-centre/personal-loans, 2026-08-27.
LoanConnect
- Nominal
- 8.99%–35%
- Loan amount
- $500–$60,000
- Term
- Up to 120 months
- Broker
- 18+
- FCAC
LoanConnect is not a lender. Borrow $500–$60,000 at 8.99%–35% APR, terms 3–120 months (FAQ says most lenders use 12–60 months). Example: $2,000 at 29.96% for 24 months costs $2,685.12 ($111.88/month). Soft check on search; the chosen lender typically hard-pulls. Existing-debt payments generally must stay under 60% of income. Origination fees, when charged, are often around $100 and are built into the quoted payment. Source: loanconnect.ca/faq, 2026-08-27.
Simplii Financial Personal Line of Credit
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Written for readers in Canada. Bankmatch is paid by providers and never by readers; that does not change what we write.