MyMoney Loan | Canada Post

Canada Post MyMoney Loan delivered with TD

No matter who you are, or where you live, all Canadians need access to fair and transparent money services. That’s why Canada Post is expanding its offerings to help more Canadians reach their goals.

And we’re starting with the Canada Post MyMoney Loan delivered with TD. These flexible personal loans can help you save on interest when compared to other higher rate loans and store credit cards. This loan can help you take control of your debt with affordable monthly payments.

Start building your financial future today with a Canada Post MyMoney Loan – it only takes 5-10 minutes to apply!

No matter who you are, or where you live, all Canadians need access to fair and transparent money services to reach their goals. That’s why Canada Post is expanding its offerings – starting with the Canada Post MyMoney Loan delivered with TD. This loan can help you take control of your debt with affordable monthly payments.

Start building your financial future today with a Canada Post MyMoney Loan – it only takes 5-10 minutes to apply.

Apply now button 1

Affordable and flexible loans

The Canada Post MyMoney Loan is designed to be inclusive for Canadians from coast to coast to coast, with competitive interest rates and loan amounts starting at $1,000.

Choice of fixed or variable rates
- Variable interest rates between 6.18% and 15.68%
  
  TD Prime Rate is 2.45% as of March 30, 2020
  Learn more below
  
  (TD Prime Rate + 3.73% to TD Prime Rate + 13.23%)
- Fixed interest rates from 6.78% to 16.28%
Borrow from $1,000 to $30,000
Flexible repayments that can be spread over 1 to 7 years
Pay down your loan at any time without additional charges
Choice of repayment options – choose to make regular payments weekly, bi-weekly, monthly or semi-monthly
No fees unless you miss a payment

Ways we could help you

Canada Post MyMoney Loan can help with your important needs. Whatever your goals, we’re here for you.

Debt consolidation

Consolidating the balances from other higher interest rate credit products like high rate loans and store credit cards is a great way to save money on interest payments.

Large expenses

Life is full of surprises, from leaky roofs to car repairs – a Canada Post MyMoney Loan can help you manage unexpected costs.

Major purchases

From home repairs or renovations to travel or major appliances, a Canada Post MyMoney Loan can help you bring your dreams to life.

Education

Sometimes getting ahead means education and training – a personal loan can help cover education costs.

Find the loan that’s right for you

No one likes hidden surprises, especially when it comes to your finances. Use this calculator to see what your loan payment and interest costs could be.

While you can enter any interest rate, your actual loan rate will depend on your credit score and other factors.
View our rates above.

The calculation is based on the accuracy and completeness of the data you’ve entered. The information is intended for illustrative and general information purposes only and does not mean that you’ve been approved for a loan. Additional conditions may apply. Any application is subject to credit approval.

To provide your results, the calculator treats the interest rate you enter as a fixed rate. Actual payments may vary. The total interest provided above is captured in the payment amount.

Here’s what your loan could look like. Please find your results below.

Your payment $180.92

Total interest $1,653.48

Complete cost $8,653.48

You could start saving on interest now with your Canada Post MyMoney Loan. Apply now button 2

The calculation is based on the accuracy and completeness of the data you’ve entered. The information is intended for illustrative and general information purposes only and does not mean that you’ve been approved for a loan. Additional conditions may apply. Any application is subject to credit approval.

To provide your results, the calculator treats the interest rate you enter as a fixed rate. Actual payments may vary. The total interest provided above is captured in the payment amount.

Need help moving forward?

When money concerns stop you in your tracks, the Canada Post MyMoney Loan can help you move forward with confidence. Canada Post is now delivering more.

Apply now button 5

Canada Post MyMoney Loan in four easy steps

Apply for your loan

It only takes about 5-10 minutes to fill in the application. Once you click ‘Apply now’, you’ll be taken to the TD site to complete your secure application.
Updates and decision

You’ll receive email messages to confirm that your application has been received by TD, the decision on your loan, and if approved, how to consent to the terms and conditions.
Confirm your identity

If you’re not a TD customer or TD needs to update your information, your approval email will include instructions to confirm your identity. If applicable, visit your nearest Canada Post location to confirm your identity with the unique verification barcode provided in the email. As well, be sure to bring government-issued photo ID.
Receive your funds

Once you activate your loan, TD will transfer the funds by direct deposit to your account at any Canadian financial institution.

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Canada Post has always been committed to enhancing communities by connecting people with the products and services they need most. And now, with TD, we’re offering personal loans that Canadians can count on.

Frequently Asked Questions

Good to know

Why is Canada Post offering personal loans?

All Canadians need access to fair and transparent money services at competitive rates. That’s why Canada Post is expanding its offerings to help more Canadians reach their goals.

Offering personal loans will help communities connect to the financial services they need. This is a natural extension of the financial services we already offer Canadians, including money and wire transfers, and pre-paid debit cards.
How does the Canada Post MyMoney Loan work?

A Canada Post MyMoney Loan offers a fixed repayment schedule so that you can pay off your debt over the term of the loan. Also, by using the loan to pay off higher interest rate debt, you can save money on interest payments.

A Canada Post MyMoney Loan is a flexible solution that you can use for many purposes, for example to finance a renovation project, consolidate debt, or make a big purchase. With a set repayment term of 1–7 years and fixed regular payments, you will be able to budget and know when the loan will be paid off.

You can learn more about Canada Post loans above. The steps to apply for a loan are outlined above.
What’s the difference between fixed and variable interest rates?

A fixed interest rate stays the same for the term of your loan, meaning you benefit from knowing exactly how much interest you will pay and when you’ll have repaid your debt.

Variable interest rates can fluctuate up or down when the prime rate changes and your regular payments remain the same over the term of your loan. If the interest rate decreases, more of your payment goes to the principal amount owed, meaning you may end up paying off your loan faster.

If the interest rate increases, more of your payment goes toward interest, meaning it may take you longer to pay off your loan.

Your actual loan rate will depend on your credit score and other factors. View our competitive rates. TD Prime Rate is 2.45% as of March 30, 2020.
Do I have to be a TD customer to qualify for this loan?
How is the interest rate for my loan determined?
Do I need collateral to back this loan?

Applying for your loan

How long will it take me to go through the process?

It only takes about 5-10 minutes to complete your loan application and you could receive your funds within a few days once you are approved. Start by clicking ‘Apply now’, which will lead you to the Canada Post MyMoney Loan Application provided by TD.

Please allow 2 business days to receive a response on your loan decision. If approved, you’ll be guided on how to accept the terms and conditions, and if applicable how to confirm your identity so you can receive the funds from your loan.

The steps to get your loan are outlined above. Learn more about how you’ll receive your funds under the FAQ 'How will I get the funds?'.
What information do I need to provide when applying?

To apply you’ll be asked general questions such as your gross annual income (your income before taxes from all sources) and your monthly housing costs (including mortgage or rent payments, property taxes, and heating costs). While providing your Social Insurance Number (SIN) is optional, it is recommended as it is helpful in locating your credit bureau information required for the application process.
Am I eligible for a Canada Post loan?
To be eligible for a Canada Post MyMoney Loan, you must be:
- A Canadian citizen or permanent resident
- Age of majority in your province or territory of residence
- Holder of a Canadian dollar deposit account with a Canadian financial institution for your loan payments
How will I get the funds?
Where can I see details about my Canada Post MyMoney Loan?

Let’s get started!

Apply for the Canada Post MyMoney Loan delivered with TD to help meet your financial needs.

Apply now button 4

Have questions? Call toll free at: 1-844-229-0413 (English) 1-844-229-0424 (French)
Monday to Friday, 8 a.m. – 10 p.m. ET Saturday and Sunday 10 a.m. – 6 p.m. ET

Now delivering a more accessible loan

Canada Post MyMoney Loan delivered with TD

Affordable and flexible loans

Ways we could help you

Debt consolidation

Large expenses

Major purchases

Education

Find the loan that’s right for you

Need help moving forward?

Canada Post MyMoney Loan in four easy steps

Apply for your loan

Updates and decision

Confirm your identity

Receive your funds

Frequently Asked Questions

Good to know

Why is Canada Post offering personal loans?

How does the Canada Post MyMoney Loan work?

What’s the difference between fixed and variable interest rates?

Do I have to be a TD customer to qualify for this loan?

How is the interest rate for my loan determined?

Do I need collateral to back this loan?

Applying for your loan

How long will it take me to go through the process?

What information do I need to provide when applying?

Am I eligible for a Canada Post loan?

How will I get the funds?

Where can I see details about my Canada Post MyMoney Loan?

Let’s get started!