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LowestRates.ca review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

LowestRates.ca suits Canadian households who want to price cover, borrowing and a mortgage in one pass, because it is a comparison site and a marketplace rather than a provider of its own. Entry premiums start at CAD 0, personal loans run CAD 500 to CAD 45,000, and early repayment is free.

Key facts

Best for
Pricing Canadian cover, personal loans and mortgages in a single pass.
Premium from
CA$0↗
Insurance types
Auto, Home, Life, Travel↗
Provider type
Comparison site↗
Monthly payments
Yes↗
Legal entity
Rates.ca Group Ltd.↗
Headquarters
Canada↗
Founded
2012↗
Support channels
Help-centre↗
Pricing model
Monthly
Official website
lowestrates.ca

Loans

APR
10%↗
Loan amount
CA$500 to CA$45,000↗
Arrangement fee
0↗
Credit check
Soft prequal↗
Funding time
within 24 hours↗
Lender type
Marketplace↗
Free early repayment
Yes↗
Eligibility
18 or older, Canadian residency, Canadian bank account, minimum 12 months credit history, minimum income $1,250 per month, employed at least three months↗
Loan types
Personal, Debt-consolidation, Business, Car, Bridging, Student↗
Use cases
Home-improvement↗

Mortgages

Initial rate
3.89%↗
Fixed period
5 years↗
Maximum loan to value
80%↗
Product fee
CA$0↗
Purpose
Purchase, Remortgage, First-time-buyer, Home-equity↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Elsewhere
LinkedInXfacebook.com

Pros and cons

Pros

  • Premiums start at CAD 0, the floor of the insurance table and the easiest figure to sort on.
  • Personal loans run CAD 500 to CAD 45,000 and the credit check is soft prequal, so a reader can see the price without a full search.
  • Free early repayment is available, so a loan can be cleared ahead of schedule without a charge.
  • Mortgages are quoted at an initial rate of 3.89% for a fixed period of 5.
  • Monthly payments are available, so a policy can be budgeted month by month rather than as a yearly lump.

Cons

  • Support runs on help centre only, so a question about a live application has fewer routes than a staffed desk.
  • Loan amounts run CAD 500 to CAD 45,000, so a renovation or consolidation bill near the top of that range needs a different product.
  • The fixed period of 5 is short against a wider market where the longest fixes reach 40.
  • A maximum loan to value of 80% leaves less room for a small deposit than the market high of 110%.

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Scored 8.8 / 10 by SumCue.

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Who it suits

  • Canadian households comparing auto, home and life cover who want a starting price before they apply.
  • Borrowers who would rather see a rate than have a file searched, since the loan search runs as soft prequal.
  • Homebuyers with a purchase or a remortgage in view, since mortgage quotes cover purchase, remortgage and first time buyer.

Who should look elsewhere

  • Readers who want a single provider behind the cover rather than a table, where Linxea sets its own starting premium of €25.
  • Anyone starting from a bank app rather than a comparison, such as bunq or bunq Spain, which also show a starting premium of €0.
  • Applicants without Canadian residency, a Canadian bank account and a credit history of a minimum length.

Price signals

Entry premiums sit at CAD 0, and monthly payments are available on the insurance side. Spreading a policy into regular amounts suits households that budget to a fixed sum each month rather than paying a single lump at renewal. For anyone shopping for cover, this figure sets the floor of the table, because it marks where the lowest quote begins. The starting premium does not tell a reader what a particular risk will cost. The final price depends on the quote a provider returns once the details of the applicant and the property are in, so a low entry figure narrows the search without settling it. Keeping payment monthly makes that first step cheap to try and easy to reverse.

Regulation and registers

LowestRates.ca is a comparison site, and it operates as a marketplace. Neither label describes an insurer or a lender, so the site sits between the reader and the provider: it gathers offers, ranks them and passes an application on. Contract terms, the underwriting decision and any protection attached to a policy all rest with whichever provider answers, not with the site. A marketplace structure also shapes the pricing on the table. Headline figures are entry points chosen for competitiveness rather than typical prices, and the rate or premium a reader ends up with follows the criteria of the individual provider. Reading the provider's own terms matters more here than a summary on a comparison table, and that habit is the practical protection available to a reader.

Who runs it

The site is operated by Rates.ca Group Ltd., headquartered in Canada and running since 2012. That gives a reader a named company behind the comparison rather than an anonymous quote table, and the products on offer are Canadian ones. Support runs on help centre, so questions are answered through published guidance in writing rather than a voice line, which suits readers who want the answer on record. A trading history that stretches back to 2012 also suggests an established operation on a site that handles applications people care about. For most readers, the named operator plus written support is enough to answer who is accountable when a quote does not arrive.

How LowestRates.ca compares

Where LowestRates.ca is available

Available
Canada

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What is the starting premium at LowestRates.ca?+

Entry premiums start at CAD 0, which is the figure shown at the top of the insurance table. Because LowestRates.ca is a comparison site, that is a starting point for cover rather than a quote for an individual risk. The price a reader pays is set by the insurer that returns the quote.

Can I pay for insurance monthly?+

Monthly payments are available on the insurance side, with monthly as the listed payment model. That spreads a policy into regular amounts across the year rather than a single larger payment. Readers who budget tightly can plan around a fixed sum instead of a yearly bill that lands at once.

Does LowestRates.ca charge a fee for a loan or a mortgage?+

The origination fee on personal loans is 0, and the mortgage product fee is CAD 0. Both sit at the lower end, which keeps the cost of taking a quote down. Free early repayment is also available, so a loan can be cleared ahead of schedule without a charge.

How much can I borrow and what rate applies?+

Personal loans cover CAD 500 to CAD 45,000 at an APR of 10%, and funding runs within 24 hours. The credit check on these loans is soft prequal, so a reader can see what is on offer before a full search is run. Home improvement is the stated use case, and the loan types listed include personal, debt consolidation and business.

Who runs LowestRates.ca?+

The site is operated by Rates.ca Group Ltd., headquartered in Canada and running since 2012. It is a comparison site, so the legal entity behind the table operates the comparison rather than underwriting the policy or lending the cash. The provider who answers is the one that holds the contract.

What support is there if an application stalls?+

Support runs through help centre, which is written guidance rather than a voice line. On a marketplace that passes an application to a lender or insurer, those articles are the starting point for status and next steps. Anyone chasing a declined offer starts there as well.

What kinds of mortgage can I compare?+

Quoted mortgages cover purchase, remortgage and first time buyer needs, with an initial rate of 3.89%, a fixed period of 5 and a maximum loan to value of 80%. The borrowing side lists personal, debt consolidation and business, so personal and other lending sits alongside the mortgage table.

Who qualifies for a loan through the site?+

Eligibility asks for adults at a minimum age, Canadian residency, a Canadian bank account, a credit history of a minimum length, a minimum monthly income and a minimum time in the job. Loans run CAD 500 to CAD 45,000 at an APR of 10%, so the amounts on offer are personal loans rather than mortgages.

How do these terms compare with the wider market?+

The fixed period of 5 is short against a wider market where the longest fixes reach 40. A maximum loan to value of 80% also sits under the market high of 110%. A longer fix or a higher ratio may be worth a separate search.

Sources

  • lowestrates.ca checked September 26, 2026

    Backs: Provider type, Insurance types, Lender type, Premium from

    “No, LowestRates.ca isn't a broker. We're a comparison website that allows you to easily view quotes from multiple providers, all in one place.”

  • lowestrates.ca/about checked September 26, 2026

    Backs: Support channels

    “Our company: About Us, Contact Us, Partner With Us, Careers, Help Centre, Press, Privacy Policy, Terms of Use, Accessibility”

  • lowestrates.ca/about-us checked September 26, 2026

    Backs: Founded, Headquarters, Legal entity

    “LowestRates.ca is a Canadian fintech company founded in 2012 by co-founder and then-CEO Justin Thouin and based in Toronto, Ont.”

  • lowestrates.ca/mortgage checked September 26, 2026

    Backs: Fixed period, Initial rate, Maximum loan to value, Product fee, Purpose

    “3.89% 5-Year Fixed”

  • lowestrates.ca/insurance/auto checked September 26, 2026

    Backs: Pricing model, Monthly payments

    “Lowest Rate $131/mth $1,573/yr”

  • lowestrates.ca/loans checked September 26, 2026

    Backs: Loan amount, APR, Credit check, Eligibility, Free early repayment, Funding time, Loan types, Arrangement fee, Use cases

    “the loan agencies we work with offer unsecured loan amounts of $500-$45,000 to people who qualify”

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

LowestRates.ca

Pricing Canadian cover, personal loans and mortgages in a single pass.

8.8/10See alternatives