What Is a 48-Month Loan Term?
A 48-month term is one of the longest repayment periods available in our network, reserved for larger loan amounts where a low monthly payment is the top priority. Four years of repayment means a meaningfully higher total cost, so this term is worth comparing carefully against shorter alternatives. It's one of several repayment terms we cover, from 3 to 60 months.
48-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 |
|---|---|---|---|
| $4,000 | 29.9% | $144 | $6912 |
| $4,500 | 29.9% | $162 | $7776 |
| $5,000 | 29.9% | $180 | $8640 |
Illustrative example only — your actual rate, term, and payment depend on the lender and your credit profile.
Who a 48-Month Term Is For
- Larger loan amounts near our $5,000 maximum
- Borrowers who need the lowest possible monthly payment
- Debt consolidation where cash flow is the most immediate concern
- A long-term financial commitment you've weighed carefully against the total cost
Things to Consider
- Total interest over 48 months is substantial — this term should be a deliberate choice, not a default, since shorter terms cost meaningfully less overall.
- Availability at this term length depends heavily on your credit profile and the specific lender.
- If your budget can handle a somewhat higher payment, a 24 or 36-month term will save you real money over the life of the loan.
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 48-Month Loan
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