What Is a 3-Month Loan Term?
A 3-month term is the shortest repayment option in our network, designed to bridge a single short-term gap — a bill, a minor repair, or a bridge until your next paycheque or two. You'll pay the least total interest of any term, in exchange for the highest monthly payment relative to the amount borrowed. It's one of several repayment terms we cover, from 3 to 60 months.
3-Month Payment Examples
APRs across our lender network range from 5.99% to 34.99%, depending on the lender, your credit profile, and provincial regulations. Here's an illustrative example at a representative rate:
| Loan Amount | APR | Est. Monthly Payment | Est. Total Repayable |
|---|---|---|---|
| $300 | 29.9% | $105 | $315 |
| $500 | 29.9% | $175 | $525 |
| $800 | 29.9% | $280 | $840 |
Illustrative example only — your actual rate, term, and payment depend on the lender and your credit profile.
Who a 3-Month Term Is For
- A one-time expense you can comfortably repay within a season
- Wanting to minimize total interest paid above all else
- Smaller loan amounts, typically under $1,000
- Confidence in stable income over the next few months
Things to Consider
- The monthly payment is proportionally higher than longer terms — make sure it fits comfortably in your budget before committing.
- Missing a payment on a short term has less room to recover than on a longer schedule.
- If your amount doesn't fully fit a 3-month payment, a slightly longer term may keep payments more manageable.
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 to Apply for a 3-Month Loan
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Tell us your amount and preferred 3-month term. No paperwork.
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