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    HomeProvincesOntario
    ON
    Province Guide

    Capital: Toronto

    Personal Loans in Ontario

    Ontario is Canada's most populous province and its financial hub. Toronto is home to the headquarters of all five major Canadian chartered banks. Ontario borrowers benefit from a highly competitive lending market, but also face Canada's highest real estate prices outside of BC.

    14.7M

    Population

    $873,000

    Avg. Home Price

    $50,000

    Max Personal Loan

    60% effective annual rate

    Rate Cap

    Ontario Lending Regulations & Rules

    Regulated by: Financial Services Regulatory Authority of Ontario (FSRA)

    • Ontario's land transfer tax ranges from 0.5%–2.5% (Toronto adds its own municipal LTT)
    • First-time home buyers in Ontario receive a land transfer tax rebate up to $4,000
    • Payday loans in Ontario are capped at $15 per $100 borrowed (2-week term)
    • Ontario has the most federally regulated banks and credit unions in Canada
    • The Ontario Mortgage Brokerages, Lenders and Administrators Act (MBLAA) governs brokers

    Common Loan Types in Ontario

    Personal Loans
    Mortgages
    HELOCs
    Auto Loans
    Business Loans
    Debt Consolidation

    Top Lenders in Ontario

    RBC Royal Bank

    From 5.14% APR · 24-48 hours

    TD Canada Trust

    From 5.19% APR · 24-48 hours

    Scotiabank

    From 5.09% APR · 2-3 business days

    BMO Bank of Montreal

    From 4.99% APR · 24-48 hours

    CIBC

    From 5.14% APR · Same day to 48 hours

    EQ Bank

    From 4.79% APR · 3-5 business days

    View All ON Lenders

    Find the best rate in Ontario

    Compare lenders active in ON — filter by loan type, credit score, and province.

    Compare ON LendersEstimate My Payment

    Other Provinces

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      BC
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      AB
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      QC
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      MB
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      SK
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      NS
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      NB
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      NL
    • Prince Edward Island
      PE

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