easyfinancial vs Mogo
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | easyfinancial | Mogo |
|---|---|---|
| Loan Amounts | $500 – $150,000 | Up to $5,000 (MogoMini line of credit) |
| Interest Rates | 9.99% – 34.95% APR | Up to 34.37% APR |
| Loan Terms | 9 – 240 months | Revolving (line of credit) |
| Credit Required | All credit types accepted | Fair credit and above |
| Funding Speed | Same day to 2 business days | Pre-approval in 3 minutes |
| Headquarters | Mississauga, Ontario | Vancouver, British Columbia |
| Founded | 2006 | 2003 |
| Best For | Borrowers with poor credit who need larger loan amounts | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring |
Loan Amounts
easyfinancial
$500 – $150,000
Mogo
Up to $5,000 (MogoMini line of credit)
Interest Rates
easyfinancial
9.99% – 34.95% APR
Mogo
Up to 34.37% APR
Loan Terms
easyfinancial
9 – 240 months
Mogo
Revolving (line of credit)
Credit Required
easyfinancial
All credit types accepted
Mogo
Fair credit and above
Funding Speed
easyfinancial
Same day to 2 business days
Mogo
Pre-approval in 3 minutes
Headquarters
easyfinancial
Mississauga, Ontario
Mogo
Vancouver, British Columbia
Founded
easyfinancial
2006
Mogo
2003
Best For
easyfinancial
Borrowers with poor credit who need larger loan amounts
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Pros & Cons
easyfinancial
Pros
- Accepts all credit types including poor credit
- Very large loan amounts available (up to $150,000 secured)
- Over 400 locations across Canada for in-person service
- Reports to both Equifax and TransUnion for credit building
Cons
- Interest rates can be high for unsecured loans
- Secured loans require collateral (home equity or vehicle)
- Some products have origination or administrative fees
Mogo
Pros
- Free credit score monitoring for all users
- Line of credit flexibility — borrow only what you need
- 100-day trial period to test the product
- Fully digital experience with no branch visits needed
Cons
- Maximum borrowing limit of $5,000
- Interest rate up to 34.37% APR
- Line of credit format may encourage ongoing borrowing
Which Lender Should You Choose?
Choose easyfinancial if you're looking for a lender that specializes in borrowers with poor credit who need larger loan amounts. They offer loan amounts of $500 – $150,000 with funding as fast as same day to 2 business days.
Choose Mogo if you're better described as tech-savvy borrowers who want a flexible line of credit with free credit monitoring. They offer Up to $5,000 (MogoMini line of credit) with fair credit and above credit requirements.
Still unsure? Apply through 365 Loans to compare offers from both lenders and more — with no impact on your credit score.
Frequently Asked Questions
Is easyfinancial or Mogo better?
easyfinancial is best suited to borrowers with poor credit who need larger loan amounts, while Mogo is best suited to tech-savvy borrowers who want a flexible line of credit with free credit monitoring. The better option depends on your credit profile and borrowing needs.
What are the interest rates for easyfinancial vs Mogo?
easyfinancial charges 9.99% – 34.95% APR, while Mogo charges Up to 34.37% APR. Your actual rate will depend on your credit profile and the specific loan product you qualify for.
Which lender has faster funding — easyfinancial or Mogo?
easyfinancial offers funding in same day to 2 business days, while Mogo provides funds in pre-approval in 3 minutes.
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