Cost of Credit Disclosure
Last updated: April 23, 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.
⚠️ Compliance with the federal 35% APR cap
All our loans comply with the criminal rate of interest set out in section 347.1 of the Criminal Code of Canada, i.e. a maximum Annual Percentage Rate (APR) of 35%. Our APRs range from 23.88% to 29.04%, well below this cap.
1. Interest rates
| Rate type |
Applicable range |
| Monthly interest rate |
1.99% to 2.42% |
| Annual Percentage Rate (APR) |
23.88% to 29.04% |
| 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 examples
Here are concrete examples of what a Credit2Go loan may cost you:
📊 Example 1 — $500 loan over 6 months
- Amount borrowed: $500.00
- Monthly rate: 1.99%
- APR: 23.88%
- Monthly payment: approximately $89.25
- Total interest cost: approximately $35.50
- Total repayment: approximately $535.50
📊 Example 2 — $1,000 loan over 12 months
- Amount borrowed: $1,000.00
- Monthly rate: 2.20%
- APR: 26.40%
- Monthly payment: approximately $95.90
- Total interest cost: approximately $150.80
- Total repayment: approximately $1,150.80
📊 Example 3 — $1,500 loan over 12 months
- Amount borrowed: $1,500.00
- Monthly rate: 2.42%
- APR: 29.04%
- Monthly payment: approximately $146.50
- Total interest cost: approximately $258.00
- Total repayment: approximately $1,758.00
These examples are for illustrative purposes only. The exact rate and conditions of your loan will be specified in your contract after your file has been assessed.
3. Applicable fees
In addition to interest, certain fees may apply:
| Fee type |
Amount |
| File opening fee |
None |
| NSF (Non-Sufficient Funds) fee |
$45 per occurrence |
| Late payment fee |
As per contract |
| Early repayment fee |
None |
4. APR calculation
The APR is calculated using the method prescribed by the Cost of Borrowing (Banks) Regulations and the Consumer Protection Act of Canada. 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
