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?
It depends on your needs. easyfinancial is rated 3.8/5 and is best for borrowers with poor credit who need larger loan amounts. Mogo is rated 3.7/5 and is best for tech-savvy borrowers who want a flexible line of credit with free credit monitoring.
Which has lower interest rates?
easyfinancial charges 9.99% – 34.95% APR, while Mogo charges Up to 34.37% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
easyfinancial: Same day to 2 business days. Mogo: Pre-approval in 3 minutes.
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