Searching for Installment loans in Ontario?

How it works

How an installment loan with Better Than The Bank works.

1. Apply online in minutes. Fill out our secure application from your phone or computer. We’ll ask a few questions about your income and banking — no paperwork to fax, no in-person visit, no waiting in line.

2. Get a decision quickly. We review applications fast and most decisions come back within minutes during business hours. We consider your full financial picture, not just your credit score, so a less-than-perfect credit history doesn’t disqualify you.

3. Receive your funds by e-Transfer. Once approved and your contract is signed, your money is sent by Interac e-Transfer — often within 30 minutes. Use it for whatever you need: car repairs, medical bills, rent, or just bridging the gap until your next paycheque.

What is an installment loan?

What is an installment loan, and how is it different from a payday loan?

An installment loan is a small loan that you repay in scheduled installments over a set period — instead of paying it all back in one lump sum on your next payday. With Better Than The Bank, you can borrow $100 to $1,000 and repay it over 90 to 180 days, in regular payments that match your pay schedule.

This structure makes installment loans far more manageable than traditional payday loans, where the full amount plus fees comes due on your next paycheque — often forcing borrowers to take out another loan to cover the first. Spreading repayment over three to six months means each individual payment is smaller and easier to fit into your budget.

Our APR is 31.98% — well below the maximum allowed under Canadian law (35%) and a small fraction of what most short-term lenders charge. There are no hidden fees: the total cost of your loan is clearly disclosed before you sign.

Why people choose Better Than The Bank

Why Ontarians choose Better Than The Bank

Fair, transparent rates. Our 31.98% APR is well below what most short-term lenders charge — many of which run effective APRs of 300% or higher. We disclose your total repayment amount upfront. No surprises, no hidden fees.

A real lender, not a broker. When you apply with us, your application stays with us. We’re not a lead-generation site that resells your information to a dozen other lenders. Your data is secure and used only to evaluate your loan.

Bad credit isn’t a dealbreaker. A weak credit score doesn’t disqualify you. We weigh your income, employment, and banking history alongside your credit — so people who’ve been turned down by banks often qualify with us.

Funded the same day. Once approved and your contract is signed, funds typically arrive via Interac e-Transfer within 30 minutes during business hours.

Based in Ontario. We’re headquartered in Hamilton, ON, and serve borrowers across Ontario and British Columbia. Real Canadian business, real Canadian support team.

Eligibility

Do you qualify for an installment loan?

To apply with Better Than The Bank, you’ll need to:

• Be at least 18 years old 
• Be a Canadian resident living in Ontario
• Have a steady source of income (employment, self-employment, pension, disability, or other regular income — we work with most income types)
• Have an active Canadian chequing account
• Have a valid mobile phone number and email address

Bad credit, prior bankruptcy (discharged), and non-traditional income sources are all accepted. We assess your full financial picture, not just your credit score.

Ready to apply?

Most applications take less than 5 minutes. Get a decision in minutes, funds in as little as 30.