Cost of Credit Disclosure
Last updated: July 30, 2026
In compliance with federal and provincial cost of credit disclosure obligations,
Credit2Go Inc. presents below all essential information about the cost of its personal loans.
⚠️ This is high-cost credit
Credit2Go personal loans carry an Annual Percentage Rate (APR) of 34.50%. This is high-cost credit (APR of 32% or higher). High-cost credit can be very expensive. Consider all of your options before applying, including budget counselling services and lower-rate loans offered by financial institutions.
Our APR complies with the criminal rate of interest set out in section 347.1 of the Criminal Code of Canada, i.e. a maximum APR of 35%.
1. Rates and terms
| Item |
Value |
| Loan amounts |
$250 to $1,500 — higher amounts up to $5,000 on case-by-case review |
| Term |
Approximately 2 months — 4 bi-weekly instalments |
| Nominal annual interest rate |
31.00%, compounded daily |
| Annual Percentage Rate (APR) |
34.50% |
| Federal maximum cap |
35% APR |
The
APR represents the total cost of credit expressed as an annual percentage, including interest and all mandatory fees. It allows fair comparison between different lenders.
2. Representative example
📊 $1,000 loan over approximately 2 months
- Amount borrowed: $1,000.00
- Nominal annual rate: 31.00%, compounded daily
- APR: 34.50%
- Repayment: 4 bi-weekly instalments of $257.48
- Total cost of borrowing: $29.92
- Total repayment: $1,029.92
This example is for illustrative purposes. The exact amount, schedule and total cost of your loan will be specified in your contract before you sign.
3. Applicable fees
In addition to interest, the following one-time fees may apply. These fees are contingent and do not affect the APR shown above:
| Fee type |
Amount |
| File opening fee |
None |
| Dishonoured pre-authorized debit (NSF) |
$25 per occurrence |
| Payment rescheduling |
$25 |
| Payment reduction request |
$12.50 |
| Electronic debit fee |
$0 |
| Late payment fee |
As per contract |
| Early repayment fee |
None |
4. APR calculation
The APR expresses the total annual cost of credit as a percentage. It includes:
- Interest paid over the full term of the loan
- All mandatory fees related to the credit
- Insurance fees if required
5. Right to cancel and early repayment
You have a cancellation period after signing your loan contract, in accordance with applicable provincial laws (typically 2 business days). You may also repay your loan in full or in part at any time,
without penalty.
6. Responsible lending
Credit2Go is a responsible lender. Before approving your application, we assess:
- Your repayment capacity (debt-to-income ratio)
- The stability of your income source
- Your credit history
We reject applications if the loan risks putting you in financial difficulty. If you have trouble repaying,
contact us quickly — we can consider solutions adapted to your situation.
7. Useful resources
8. Contact us
