Borrowell Review 2026
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Loan Amounts
$1,000 – $35,000
Interest Rates
5.60% – 29.19% APR
Loan Terms
12 – 60 months
Credit Required
Fair to good credit (620+)
Funding Speed
1 – 3 business days
Headquarters
Toronto, Ontario
What is Borrowell?
Borrowell is a Canadian fintech company best known for providing free Equifax credit scores and credit monitoring to over 2 million Canadians. They also offer personal loans through their lending platform.
Their personal loans range from $1,000 to $35,000 with competitive APRs starting as low as 5.60%, making them one of the most affordable non-bank lenders in Canada.
Borrowell's AI-powered product recommendations match users with credit cards, loans, and financial products based on their credit profile, helping Canadians make smarter financial decisions.
Pros & Cons
Pros
- Free Equifax credit score for all users
- Among the lowest APRs for non-bank lenders (from 5.60%)
- AI-powered personalized financial product recommendations
- Over 2 million Canadian users — well-established platform
- Fully digital application and funding process
Cons
- Requires fair to good credit (620+ score recommended)
- Not ideal for borrowers with poor or no credit history
- Personal loans not available in all provinces
- No secured loan or line of credit products
Estimate Your Borrowell Payments
See what your monthly payments could look like with Borrowell's rate range of 5.60% – 29.19% APR.
Try the Loan CalculatorWho Can Apply for Borrowell?
- Must be a Canadian resident aged 18+
- Must have a credit score of approximately 620 or higher
- Must have a stable source of income
- Must have an active Canadian bank account
How to Apply for a Borrowell Loan
Sign up for a free Borrowell account and check your credit score
Review your personalized loan offers
Select a loan amount and term that fits your budget
Complete the full application with income verification
Receive funds within 1–3 business days if approved
Borrowell FAQs
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