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Why Apply for Personal Loans With Our Partners?

If you are considering applying for a personal loan, there could be many reasons why it is a smart decision. A personal loan can provide you the funds to make an important purchase, such as a car or a home, and can also help with bill payments and unexpected financial binds. Taking out a loan and paying it back responsibly can also help you build or rebuild your credit score which can have long term benefits. It is always important to consider your existing financial situation to ensure that you are able to service the extra payment load before applying.

Insurdinary.ca is the first and best destination for online financing solutions. With fast and easy applications, and the largest provider that links a network of lenders in Canada, it's no wonder Canadians continue to turn to Loans Canada for all of their personal financing needs.

The following benefits come along with applying for an online loan through our partner network:

  • Fast approvals
  • Loans up to $50,000
  • Applying is FREE and there is no obligation to borrow
  • Re-establish your credit
  • Many options available for affordable financing
  • Apply once, get multiple loan lending options

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Our Simple Process

When you apply for a loan through our partner network, you benefit from being matched with the best loan solution and lender in order to best suit you and your needs. The algorithm takes into consideration your location and the information you provide such as your income, and credit score in order to find the best match for you. Once a lender has been recommended for you, a simple application is usually required. Sometimes, the lender will require proof of employment and identification, but not always. Once you have provided all of the necessary documentation, it will be determined whether or not you qualify. If approved, most lenders will transfer the funds directly into your bank account. In many cases, this may happen in a matter of hours.

Is a Personal Loan Right for You?

Determining whether or not a personal loan is a good fit and wise decision widely depends on many factors. When weighing the pros and cons, consider the following:

  • What is the loan for?
  • Do I qualify for a loan through a bank?
  • What are the interest rates?
  • How long do I have to pay the loan back?
  • Can I afford an additional deduction from my paycheques?
  • What are the loan terms?

Personal loans usually come with higher interest rates (depending on your credit rating) so if you are uncertain as to whether or not committing to a personal loan is the right choice, speak to a financial advisor or loan specialist first.
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How to Choose The Right
Personal Loan?

When it comes to choosing the right loan, there are several factors you should take into consideration. This is a crucial financial decision. Therefore, it’s important to consider factors such as your existing financial standing, the repayment terms, fees and interest rates. When navigating the “do I or don’t I” of taking out a personal loan, ask yourself the questions listed here:
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What do you need the money for?

When taking out a loan, you’ll want to provide as much information as possible and include the details of how you intend to use the loan. This will help determine the type of loan you need, and the lender that is best suited for you. If you’re looking for a personal loan for a general reason, such as a vacation, or to make a purchase, you’ll have more options to choose from than say someone who is looking for a debt consolidation loan or a loan to finance a larger purchase such as a wedding or a home remodel.

What interest rate are you being offered?

When comparing the interest rates of multiple lenders, makes sure you consider the APR as well as the monthly rate. This is particularly useful when trying to decide between several lenders that are offering similar options.

What type of repayment plans are available?

The repayment plan that you choose determines how often you have to make a loan payment, and how quickly the loan can be paid off. Typically, you’ll choose from monthly, weekly, or bi-weekly payments. Repayment plans are usually offered in the form of fixed-rate interest rates, however it’s also possible to see loan repayment plans with variable-rate options as well. The repayment terms, be it payment frequency and interest rates/types, are always determined based on someone's credit rating.

Are there any additional fees?

Generally speaking, some lenders will have a couple of fees added to the cost of your loan. But, it’s important that you make sure you aren’t being charged any illegitimate fees, or that the cost of the fees is not higher than the legal limit. Late fees are typically common when it comes to personal loans in Canada. Another additional fee you may encounter are early payoff penalty; however those are usually more for larger loans such as mortgages and cars.

What do consumer reviews say?

When it comes to choosing a great lender to work with, reviews from other consumers can provide much-needed insight. Furthermore, if you can’t find any reviews at all, this could be a red flag.

How Does It Work?

At Insurdinary, we help you get connected with major loan providers in Canada to give you the best available out there and let you choose the right product for you.

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Applying is easy, fast and secure. You can get approved and funded as early as today.
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Get matched with a lender and accept your quote with terms and a plan that works for you.

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Funds are deposited into your account and repayments are made easy with automated debits.

Where Should You Get Your
Loan From?

Finding the right lender to work with may seem like a stressful task, but once you understand what your options are, you should have no problem making the choice that best fits your unique needs.
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Here are some tips to help you save
on your personal loan.

Bank or Credit Union

Probably the most common choice, a bank or credit union is a good option for those consumers who have good credit. Banks and credit unions typically have stricter approval procedures and require borrowers to meet higher standards.

Private Lender

A private lender is an individual or company that lends privately as opposed to through a traditional financial institutions. Because private lenders do not have the same restrictive requirements, they are able to work with more borrowers.

Loan Broker

Brokers have relationships with multiple lenders and can help you find the best option and rate. One of the main benefits of working with a broker is that you apply with them and they do all the work for you. This means you’ll save time and get the best options that fit your needs.

Online Lender

An online lender works directly with borrowers to get them approved for the loans they need. A consumer will fill out the lender’s online application, which is typically quick and easy to accomplish. Once approved they will receive funds directly deposited into their bank account.

Payday Loan Lender

If you’re currently thinking about applying for a payday loan, we suggest that you consider all other options first. While a payday loan may seem like a great option (easy application and quick approval), more often than not they can cause serious financial issues.

Personal Loan Requirements

While certain lenders may have additional requirements, here are some of the basic documents and eligibility requirements that most lenders will ask for during the loan application process.
Steady income
Valid government-issued I.D.
Active Chequing Account
Proof of employment
Canadian Citizen or P.R.
Bank statements
Social Insurance Number
Proof of Address
Credit Score Requirements
Co-signer or collateral

Personal Loans
Frequently Asked Questions (FAQ)

You’ve got questions, we’ve got answers. Learn all about finding and applying for personal loans online in our FAQ section below.

Where can I borrow money online?

There are many places where you can borrow money online. One of the best and most secure ways is through signing up for an online loan through a trusted lending company.

Our 2020 guide outlines the most reliable online lenders in Canada. Compare options and apply for the loan that suits your needs to secure money fast.

What is an online loan?

An online loan is money that is borrowed from a lender who does business online. You can search for lenders, compare options, and apply for loans online with ease.

Alternative options include applying over the phone or at your local bank, in person.

How does online lending/borrowing work?

With online lending, lenders collect your information to determine which lending options you are eligible for. Then you, as a borrower, decide whether the terms and rates suit your needs and budget. Some lenders provide money upfront in as little as 12 hours.

Are online loans a good idea?

Online loans are a good idea if the money is borrowed through a reputable lender with a secure website. Security and confidentiality are important, so Insurdinary only recommends companies that maintain these high standards.

Simply choose a lender, submit your details, and get money sent to you when you need it.

What is the best online loan?

The “best” online loan varies based on your unique needs. We’ve recommended lenders that offer low interest rates, great repayment plans, and a variety of borrowing options.

You’ll need to consider your own financial situation before choosing the best loan for you.

How do I find online loans with low interest rates?

Insurdinary.ca recommends a variety of online lenders that offer low interest rates, including variable and fixed interest rate options.

What’s “low” may depend on your credit score, the amount of money you want, and what your repayment schedule will look like.

Can I qualify for a loan if I have bad credit?

In short, yes. Not all lenders require a credit check, but many do. Most banks require a soft credit check to determine pre-approval, then a hard credit check if you agree to sign up for the loan.

Some brokers don’t require a credit check at all and will set you up with lenders who will send you money within a day, no matter whether you have bad or good credit.

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