easyfinancial Personal Loans Review (2026)
| Criterion | Score | Note |
|---|---|---|
| Cost of borrowing (35%) | 2.5/5 | Unsecured rates start at 29.99% — close to the 35% federal cap |
| Transparency (25%) | 3.5/5 | Rates, amounts, terms and a full repayment example published on-site |
| Eligibility breadth (15%) | 4.5/5 | No credit history needed; serves borrowers banks decline; branches in all 10 provinces |
| Customer experience (15%) | 3.5/5 | 350+ branches, phone and online; add-on products pushed alongside loans |
| Funding speed (10%) | 4.5/5 | Same-day Interac e-Transfer (lender claim, verified 2026-07-10) |
What we like
- Approves borrowers with no credit history or past bank declines
- Payments report to credit bureaus — on-time payments can rebuild your score
- Funding as soon as same day via Interac e-Transfer
- No upfront application fees, and a 14-day satisfaction guarantee on personal loans
- 2% rate reduction with a co-applicant
What to watch out for
- Unsecured rates start at 29.99% — among the most expensive licensed lending in Canada, just under the 35% federal cap
- The lender's own example shows a $1,000 loan over 12 months costing $1,501.08 in total repayment (including optional Loan Protection Plan coverage)
- Optional add-ons (Loan Protection Plan, easyAdvantage+) are actively offered and can add materially to the total cost — they are not required for the loan
- The advertised 9.99% floor applies to secured home-equity lending, not the unsecured personal loan most applicants get
easyfinancial is the lending arm of goeasy Ltd., a publicly listed Canadian non-prime lender with 350+ branches. Its role in the market is explicit — 'when banks aren't an option' is the company's own framing. That positioning defines both the strengths (accessibility, speed, credit reporting) and the weakness (price). If your credit profile gives you options, use them; if it doesn't, easyfinancial is a licensed, regulated alternative to far more expensive payday borrowing — with rates capped by federal law and a path to rebuilding your score.
Who is easyfinancial for?
Borrowers with low or no credit history who need funds quickly and want payments reported to the bureaus so the loan can rebuild their score.
Look elsewhere if: you have fair-to-good credit — you will likely qualify for a meaningfully lower APR elsewhere, and the difference compounds over multi-year terms.
See easyfinancial's current offer
What we checked
We read easyfinancial.com/personal-loans, the FAQ and the site's fine print on July 10, 2026: published rates (29.99% start unsecured; 9.99%–35% APR across products), amounts ($500–$20,000 unsecured), terms (9–84 months), the published $1,000/12-month repayment example, licence numbers in the footer, and the add-on product pages. We have not taken out a loan with easyfinancial; all figures are the lender's own published data.
Frequently asked questions
Does easyfinancial check your credit?
Applying for a quote doesn't affect your credit score, and easyfinancial approves borrowers with no credit history. Payments on the loan are reported to credit bureaus.
How fast does easyfinancial pay out?
As soon as the same day via Interac e-Transfer, per the lender's published claim (verified July 10, 2026), once documents are approved.