Ontario has the largest, most competitive lending market in Canada. From $100 payday loans capped at $14 per $100, to $50,000 personal loans from Mogo and Fairstone, to $5M mortgages from Nesto and the Big-6 — here's every product available, who to borrow from, and what it costs.
Click any product to see the lenders, rates, and how to apply in Ontario.
Largest market in Canada. 40+ lenders compete. Best rates online (Mogo, Fairstone, Spring Financial).
→Strong B-lender presence (easyfinancial, goeasy, LoanMe). LoansCanada matches your file to 30+ subprime lenders.
→Bridge between payday and bank loans. Mogo, easyfinancial, Fairstone dominate ON.
→#1 reason for personal loans in ON. Stack credit-card debt into one fixed payment, save $5-15k in interest.
→Big-6 (RBC, TD, BMO, Scotia, CIBC) and Meridian CU offer 5,000+ branches statewide.
→Three ways homeowners in Ontario access mortgage capital — from buying a first home to tapping equity at sub-5% rates.
Largest mortgage market in Canada. Nesto (lowest rates), True North, Butler (ON-based), all Big-6, Meridian CU.
→ Read moreEvery Big-6 bank offers HELOC at Prime + 0.50% in ON. Min 20% equity required.
→ Read moreON-based specialists: Alpine, Tribecca, Fisgard. Up to 85% combined LTV for equity take-out.
→ Read moreWhen you need a loan built around what you're buying — not a generic personal loan.
Direct from Big-6 + dealer financing + subprime (LendCare, Carfinco, iA Auto). New car, used, refinance.
OSAP (Ontario Student Assistance Program) — federal/provincial split. Tops up with private at 9.99-12.99%.
RBC, Scotia, TD, BMO all offer newcomer programs. No Canadian credit history required if you have a job offer.
BDC + Big-6 + online (OnDeck, Lendified). CSBFP-backed loans up to $1.15M for ON small business.
Ontario's payday rules (Bill 200 + Payday Loans Act) are the strictest in Canada alongside BC. Every payday lender must be licensed by FSRA. Cooling-off period of 2 business days. No rollovers allowed. Cap of $14 per $100 means a 14-day, $500 loan costs $70 in fees (391% APR if annualized).
Cost per $100 borrowed for 14 days
These aren't separate loan types — they're how the loans above get delivered. Same-day and e-Transfer "loans" are almost always payday or installment loans wired through Interac after approval. Listed for clarity.
24/7 funding via Interac. 100+ ON-licensed e-transfer lenders. Money in 2-30 minutes once approved.
Spring Financial, goeasy, Fairstone all fund same-day if approved before 2 PM ET. Larger amounts than payday.