Personal loans in Ontario
Ontario residents can borrow $100 to $1,500 and repay over 3 to 24 months with fixed payments. Apply online, get a fast decision and receive funds by e-Transfer.
Subject to approval. Not all applicants qualify.
Approved? Funds sent by Interac e-Transfer. No application fee. No prepayment penalty.
Personal loans across Ontario
We lend to residents in the GTA, Ottawa, the Golden Horseshoe, Southwestern Ontario, Eastern Ontario and Northern Ontario. Apply 100% online, with no branch visit and no paperwork to mail. Funds are sent by Interac e-Transfer once you sign.
Apply from your phone
A short online application, then a quick review. Most Ontario borrowers finish in minutes.
Apply now →Works with your bank
Funds go to your chequing account at RBC, TD, Scotiabank, BMO, CIBC, Tangerine, Meridian Credit Union and Alterna Savings, or any Canadian bank that accepts e-Transfer.
Get started →Who's eligible
Ontario residents 18 or older with a bank account and regular income, including employment, EI or pension.
Check my options →Borrowing responsibly in Ontario
Only borrow what fits your monthly budget. Our fixed payments make it easy to plan. If you have questions about consumer rights for loans in Ontario, Consumer Protection Ontario is the provincial body that oversees consumer protection.
Ontario residents: check your options
It takes about 2 minutes and won't affect your credit score.
See what your payments could be
Estimates use our maximum APR of 29.99%. Your actual rate may be lower.
Apply from anywhere in Ontario
Most people finish in minutes. Funds by e-Transfer once you sign.
Three steps to your loan
Know your costs before you apply
Representative example: Borrow $1,500 over 12 months at 29.99% APR. You make 12 monthly payments of $146.22. The total cost of borrowing is $254.68 and the total amount repaid is $1,754.68.
| Amount | Term | APR | Monthly payment | Cost of borrowing | Total repaid |
|---|---|---|---|---|---|
| $100 | 3 months | 29.99% | $35.01 | $5.04 | $105.04 |
| $500 | 6 months | 29.99% | $90.77 | $44.63 | $544.63 |
| $1,500 | 12 months | 29.99% | $146.22 | $254.68 | $1,754.68 |
Examples use our maximum APR. Your APR is set based on your application and is shown before you sign. No application fee. No penalty for paying early. A fee of up to $20 may apply if a payment is returned. Missed payments may be reported to credit bureaus. All loans are subject to approval and not all applicants qualify.
Manage your loan from your phone
Download the Simple Financial app for Android to apply, check your balance and see your payment schedule, all in one place.
Common questions
Who can apply?
You need to live in Ontario, be 18 or older (the age of majority in Ontario), have a Canadian bank account and a regular source of income.
Do you lend everywhere in Ontario?
Yes. We lend online across the province, from Toronto and Ottawa to Windsor, Kingston, Sudbury and Thunder Bay. You never need to visit a branch.
Is Simple Financial based in Ontario?
Yes. Simple Financial is an Ontario lender, and our team serves Ontario borrowers every day.
How long do I have to repay?
You choose a term between 3 and 24 months. Payments are the same amount each month.
What does a loan cost?
APR ranges from 19.99% to 29.99%. For example, $1,500 over 12 months at 29.99% APR costs $254.68 in total, with monthly payments of $146.22.
Will checking my options affect my credit?
No. Checking your options doesn't affect your credit score. A credit check is only done if you continue with a full application.
Can I pay my loan off early?
Yes. You can repay any time with no prepayment penalty, and you only pay interest for the time you had the money.
How do I get the money?
Once you sign your agreement, we send the funds by Interac e-Transfer to your bank account.
Is approval guaranteed?
No. Every application is reviewed, and not all applicants qualify. Borrow only what you can comfortably repay.
Apply in minutes
Fixed monthly payments over 3 to 24 months.