Rates, Fees & Terms
| Rate Type | Fixed |
| APR Range | 8.99% - 34.99% |
| Loan Amounts | $1,000 - $35,000 |
| Available Terms | 36 to 60 months |
| Application Fee | Varies |
| Origination Fee | Varies |
| Admin/Flat Fee | Varies |
| Funding Time | 5 Days |
Eligibility Requirements
| Minimum Income | $35,000/yr |
| Credit Score Required | 600 |
| Minimum Age | 18 years old |
| Residency Status | Foreign Worker (Work Permit) |
Included Features
Highlights & Pros
- Check your rate without affecting your credit score. Pre-qualify with a soft credit check to view your estimated rate and eligibility before deciding whether to complete a full application.
- Competitive peer-to-peer lending model. goPeer connects eligible borrowers with Canadian investors, offering a modern alternative to traditional bank and high-cost lending options.
- No collateral required. Borrow from $1,000 to $35,000 through an unsecured personal loan without pledging your home, vehicle, or other assets.
- No penalty for paying early. Make additional payments or repay the entire loan early without prepayment fees, giving you more control over interest costs.
- Clear, fully online experience. Apply online, review your personalized offer and see the applicable rate and fees before accepting the loan.
Things to Consider
- An origination fee applies. The one-time origination fee is included in the disclosed APR and deducted from the loan proceeds, so the amount deposited will be lower than the approved loan amount.
- Eligibility standards may be stricter. Approval depends on factors such as credit history, income, existing debt and overall ability to repay, making goPeer better suited to borrowers with established credit.
- Only two repayment terms are available. Loans currently come with either a three-year or five-year term, which provides less term flexibility than some lenders.
Representative Example: For example, the average borrowing cost paid on a $10,000 unsecured personal loan at an APR of 19.99%, with a 3-year term and weekly payments of $85.36 is $3,301.20.
Legal Disclaimer: Legal Disclaimer: *goPeer offers unsecured personal loans in Canada from $1,000 to $35,000, with 3- or 5-year terms and APRs ranging from 8.99% to 34.99%. Your actual rate, loan amount, and eligibility depend on your credit profile, income, debt-to-income ratio, province, and goPeer’s underwriting criteria. Minimum requirements include being 18+, a Canadian resident, having a Canadian bank account, a 600+ credit score, annual income of at least $35,000, debt-to-income ratio below 35%, no bankruptcy within the past 12 months, and at least 3 credit trades. Pre-qualification does not impact your credit score, but applying does not guarantee approval or funding. Fees may apply, including an origination fee included in the APR and applicable missed or unsuccessful payment fees. Once approved and accepted, loans are listed for investor funding, and funds are typically advanced within 1–4 business days after funding. Conditions apply.
