What Is a $1,200 Loan?
A $1,200 loan gives a bit more room than the $1,000 mark, often chosen when a mid-sized expense comes with some uncertainty about the final cost, like a repair that might run slightly over an initial estimate. It's one of several loan amounts we match, from $300 up to $5,000.
Who a $1,200 Loan Is For
- A car repair with an uncertain final invoice
- Combining a bill with a smaller planned purchase
- A moving cost including a deposit and a truck rental
- Covering a shortfall after a reduced paycheque
Eligibility Requirements
- 18 years or older (19 in BC, NB, NL, NS, NT, NU, and YT)
- Canadian citizen or permanent resident
- Valid Social Insurance Number (SIN)
- Active bank account in your name
- A regular source of income
How Much Will a $1,200 Loan Cost?
APRs across our lender network range from 5.99% to 34.99%, depending on the lender, your credit profile, and provincial regulations, in compliance with Canada's federal criminal rate of interest. Here's an illustrative example at a representative rate:
| Term | APR | Est. Monthly Payment | Est. Total Repayable |
|---|---|---|---|
| 6 months | 29.9% | $218 | $1308 |
| 12 months | 29.9% | $117 | $1404 |
Illustrative example only — your actual rate, term, and payment depend on the lender and your credit profile.
Pros
- Fast approval — often within minutes
- Soft credit check only, so checking rates doesn't hurt your score
- Repayment term sized to the amount, keeping payments manageable
- Available to a wide range of credit profiles
Cons
- A slightly larger amount than you need still costs you in interest — confirm your actual expense before rounding up.
- At this size, comparing a few lenders' offers is worth the extra few minutes, since rates can vary more than at smaller amounts.
Alternatives to a $1,200 Loan
Installment plan with the service provider
Some repair shops or contractors offer their own financing, sometimes at a comparable or better rate.
Personal line of credit
If your borrowing need might grow beyond $1,200, a line of credit avoids taking on more than you need upfront.
How to Get Your $1,200
Apply in 2 minutes
Tell us you need $1,200 and a bit about your situation. No paperwork.
Compare offers
See real offers from vetted lenders, matched to your credit profile.
Get funded
Accept an offer and funds typically land within 24 hours.