Up to 35.9%
Currently 52% of loans under $2500 get funded same day and 80% of loans over $2500 get funded within 4 days.
Your data security and privacy are our highest priority. We use bank-level security encryption standards.
Terms and rates up front. No secrets, no spin. We give you all the information you need to make an informed decision.
If for any reason you're not happy, let us know so we can make it right or give you your fees back.
Our rates can be lower than credit cards, so if you’re carrying a balance on a credit card you could pay it back faster using MogoLiquid than you could by making the minimum payments on your credit card.
6.9% — 35.9% APR
1 — 5 years
Bill owes $10,000 on his credit card that has a 20% annual interest rate. He pays it off with a 4-year MogoLiquid loan from Mogo at a 6.9% annual interest rate, reducing his interest rate by over 60%.
Use it like car sharing, borrow by the day and pay it back quickly. Don’t let the interest rate scare you, focus on the total cost of borrowing!Learn more
Mary needs $1,000 to take advantage of a vacation deal that is $500 off the regular price. She decides to use the MogoMini Line of Credit to pay for it and then pay it back in 4 days. Total cost of borrowing is only $5.20 (Based on 47.88% AIR and bi weekly payments, not including optional fees or services).
This could be a great alternative to paying a $45 bank NSF fee and can save you up to 50% compared to the cost of an average payday loan at $23/$100 borrowed.
Representative Example — Ontario maximum allowable cost per $100 borrowed is $21. Our cost per $100 borrowed is $10.50 for 14 days. Example: For a $300 loan for 14 days the total cost of borrowing is $31.50. APR of 273.8%
Jay realizes that a $200 cheque he wrote is going to bounce. Without access to overdraft, he borrows $200 of MogoZip and transfers it into his account, avoiding a $45 NSF and a $40 merchant fee. Total cost of borrowing is $21* (Based on rate of $10.50 per $100 for 14 days and APR of 273.8%).
Minimum requirements for general credit
Every week we’re giving away cool prizes from great brands we like, such as Warby Parker, Beats, Aritzia, and many more.
As a Mogo member, you can enjoy a free treat on us every month. Just stop by any of our stores and pick one up.
Whether it's free wood-fired pizza in Vancouver or sampling the best hot dogs in Toronto, each month we host exclusive members-only events.
Less than 50% of Canadians know their credit score! Get yours for free when you sign up for Mogo Money.
To help you stay in control of your loans and avoid any unnecessary fees, we’ll send you helpful reminders and tips. Whether it’s letting you know about a payment that’s coming up or reminding you to pay down your balance to get out of debt sooner, Smart Alerts will help keep you on track.
Mary was initially approved for a 30 day short term loan, but after paying off 4 loans on time, she leveled up to a line of credit and lowered her cost of borrowing by over 80%.
On average, it takes 2 minutes and 34 seconds to fill out our general application for credit. We’ll then show you your loan options, including terms and costs so you can decide what’s right for you. Once you’ve completed your selection, we can have money in your bank account in as little as a few hours (currently 52% of our loans are funded the same day).
We ask for a minimum of personal information to verify your ID and approve you for a loan. We use 128-bit SSL protection and strict, high levels of security and encryption standards.
Once you submit your application, we'll give you an instant decision where you can see the loan options you've been approved for.
We’ll give you the information you need to make an informed decision and choose the right loan for you. If you want to access one of these loans immediately, simply confirm the loan and amounts you want. Or leave it for another time – your loans will be available for you whenever you want.
Currently 52% of loans under $2500 get funded same day and 80% of loans over $2500 get funded within 4 days. Below are our available funding options. We’re happy to say we’ve already funded over $500 million in loans.
5 minutesWhat is it?
Once your loan is funded, you will be sent Smart Alert email reminders when your loan repayments are due. You will not have to worry about setting up repayments as they will be withdrawn from your bank automatically.
Ready to pay off your loan early? Great! It’s totally up to you, just let us know and there will be no prepayment penalties
With on time payments, your Mogo Level will go up which provides you access to loans with better rates and higher amounts in the future!
Up to 35.9%