Fig Financial is an all-digital loan provider with an ultra-simple application process. You can check to see if you qualify for a personal loan rate within seconds and complete the application for a loan up to $35,000 within minutes.
Fig offers up to $35,000 in unsecured personal loans – and allows you to repay your loan whenever you want with no penalties.
Fig features
Here's what Fig Financial personal loans have to offer.
Why You Want It
Pay for your next reno, trip, or car with low rates + No prepayment penalties
Special Features
- Quick and easy online application process
- Get approved for a loan in minutes, receive funds in a few days
- No prepayment penalties
- Loan amounts range from $2,000 to $35,000
Eligibility
- Age of majority in your province or territory
- Be a Canadian citizen or permanent resident
- Meet credit score requirements
- No application within the last 30 days
- No active Fig loan or recent decline within 30 days
- No bankruptcy, delinquencies, or collections
Provinces
AB, BC, MB, NB, NL, NS, ON, PE, QC, SK
Features
Pre-approval
Flexible Terms
Loan Amounts
$2,000 - $35,000
APR Range
8.99% - 29.49%
Term Range
2 to 5 years
Minimum Credit Score
680
Secured Available
Fig personal loans product rating: 4.4 stars
Fig Financial offers an easy process to apply for personal loans. Unlike many lenders, Fig is upfront with its interest rates. You can check to see if you qualify for a personal loan rate within seconds and complete the application for a loan up to $35,000 within minutes.
With Fig, you'll need good credit to be approved (minimum score of 680) and they don't offer secured loans.
Rating methodology
To get our Genius Rating, we look at all the features of a product and compare them to similar products in Canada. We give each feature a score out of 5 based on how they compare to other products. Once we have rated all the features, we run them through our proprietary algorithm to get a final rating out of 5.
Learn more about our rating methodology.
The pros of Fig personal loans
Here's what Fig has going for it.
Pros
They're upfront with their interest rates
Many lenders won't even advertise their interest rates when it comes to loans. But Fig does. While you won't know your exact rate until you apply, it will fall between 8.99% to 29.49%.
Easy to apply
Fig is an all-digital lender. And there are no in-person visits to a branch required to apply for and get approved for a loan. Once you complete the application process, you'll know within seconds if you've been approved.
No early payment penalties
Want to repay your loan early? No problem – Fig won't charge you any fees or penalties for repaying your loan early. So, while Fig only offers loan terms between 24 to 60 months, if you think you can pay back your loan in one year that won't be a problem.
High borrowing amounts
For a personal loan, you can borrow quite a bit with Fig – anywhere from $2,000 to $35,000. These are ideal amounts if you want to consolidate debt, tackle a home reno, or have any other large purchases you need to finance.
The cons of Fig personal loans
Here are some things to consider with Fig.
Cons
Secured loans not available
If you want to get a secured loan to help lower your interest rates, at this time Fig doesn't offer them.
Good credit to qualify
You need a minimum credit score of 680 to be approved, and you can't have any bankruptcies, collections, or consumer proposals on your credit file.
Fig personal loans alternatives
Here's how Fig compares to other personal loan providers in Canada.
 |  |  |  | |
|---|---|---|---|---|
| Account | Fig personal loans | Spring Financial Loans | LoanConnect | Borrowell Personal Loans |
| Genius Rating | ||||
| Why You Want It | Pay for your next reno, trip, or car with low rates + No prepayment penalties |  $100 GeniusCash + Interest rates as low as 9.99% + No prepayment fees. | Flexible loan options from $500 to $60,000 + Interest rates start at 8.99%. | Free credit score monitoring + Get funds quickly with reasonable rates. |
| Pre-approval | | | | |
| Flexible Terms | | | | |
| Loan Amounts | $2,000 - $35,000 | $500 - $35,000 | Up to 60,000 | See Issuer for Details |
| APR Range | 8.99% - 29.49% | 9.99% - 35% | 8.99%-46.96% | See Issuer for Details |
| Term Range | 2 to 5 years | 6 to 84 months | 3-120 months | 6-120 months |
Show More | ||||
| Find a loan See more Fig Financial products Compare | I Want This Deal See more Spring Financial products Compare | Find a loan See more Loanconnect products Compare | Learn More See more Borrowell products Compare |
FAQ
Who is Fig Financial?
Fig Financial is an all-digital lender available to all Canadians except residents of the territories. Fig is backed by Fairstone Bank.
Does Fig advertise its interest rates?
Fig does advertise its interest rates – you'll get a rate between 8.99% to 29.49%. You'll get your exact rate when you apply.
How much can I borrow with Fig?
Fig offers unsecured loans from $2,000 up to $35,000. Fig has no early repayment fees so you can repay your loan early if you'd like.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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