Use the Loan Approval Calculator
Calculate Your Approval Probability
How This Tool Works
- 1
Enter your credit score range (300–900 on Canada's Equifax/TransUnion scale)
- 2
Input your gross annual income in Canadian dollars
- 3
Specify the loan amount you're seeking
- 4
Select your employment status (full-time, part-time, self-employed, EI, etc.)
- 5
The calculator weighs each factor against typical Canadian lender criteria to produce an approval probability estimate
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Understanding Your Results
A high probability (70%+) suggests you meet most Canadian lender requirements. A moderate probability (40–69%) means you may qualify with some lenders but could face higher interest rates. A low probability (below 40%) indicates you should consider improving your credit or reducing your requested amount before applying. Remember, Canadian lenders must comply with the 35% APR cap, so even borrowers with lower scores can find regulated options.
Responsible Borrowing Advice
Before applying for any loan, ensure you can comfortably afford the monthly payments. Canadian regulations require lenders to assess your ability to repay, but it's important to do your own assessment too. Use our Loan Calculator to estimate monthly payments and never borrow more than you need. If your approval probability is low, consider building your credit first through our Credit Building Guide.