Guides

Plain-language explainers on how borrowing actually works in Canada — no selling, every figure sourced. When you're ready, compare offers in your province.

• What Is APR and How Is It Calculated? — APR (annual percentage rate) is the total yearly cost of a loan — interest plus mandatory fees — expressed as a single percentage. Since January 1, 2025, federal law caps most consumer lending in Canada at 35% APR.
• How to Compare Personal Loans in Canada — Compare personal loans on total cost of borrowing, not monthly payment: check the full APR range, use soft-check prequalification, decline add-ons you don't need, and confirm the lender operates in your province.
• Personal Loan vs. Payday Loan: What's the Difference? — A personal loan in Canada is capped at 35% APR; a payday loan costs up to $14 per $100 borrowed — roughly 365% APR on a typical two-week term. For almost any borrower who qualifies, the personal loan is dramatically cheaper.