Mogo

Avg. Rating: 4.3 (13 reviews)

Take the stress out of borrowing. Mogo offers a range of easy-to-use products to help you rule you finances: personal loans of up to $35,000, free credit score monitoring, mortgages, identity fraud protection, and more. Our loan experience is designed to help you get out of debt faster, whether you have good or not-so-great credit. See your no obligation loan pre-approval in just 3 minutes without affecting your credit score.

Read our In-Depth Mogo Review here. 

 

Mogo is a member of the Canadian Lenders Association:

 

  • TIME IN BUSINESS: Since 2006
  • # OF CUSTOMERS: Over 600,000
  • LOANS OFFERED: Installment Loans, Line of Credit
Visit site - www.mogo.ca

Call Center:
Support Offered:
  • Web Chat
  • Help Center/Blog
Availability: Ontario, British Columbia, Alberta, New Brunswick, Newfoundland, Nova Scotia, Prince Edward Island

Products Offered

Below are all the products offered by this company.

Conditions & Rates

Interest rateStarting at 29.99% Amount $500 – $15,000 Term 12 – 60 months

Eligibility & Documents

Who is eligible

  • Canadian citizen or permanent resident
  • Must be of age in your province

What you need to provide

  • Online verification available (no supporting documents required!)
  • Bank statement/verification
  • Proof of income
  • Identification

Repayment & Issuance

How fast can you get the money Same Day Funding method Direct Deposit or Interac E-Transfer How does repayment work Direct deposit from bank account based on agreed frequency

Conditions & Rates

Interest rate47.7% Amount $300 – $3,500 Term Line of Credit

Eligibility & Documents

Who is eligible

  • Canadian citizen or permanent resident
  • Must be of age in your province

What you need to provide

  • Online verification available (no supporting documents required!)
  • Bank statement/verification
  • Proof of income
  • Identification

Repayment & Issuance

How fast can you get the money Same Day Funding method Direct Deposit or Interac E-Transfer How does repayment work Interest and fee payments at an agreed frequency

Articles About Mogo

By Smarter Loans

Smarter Loans is Canada's online loan directory for any type of financing. The website helps Canadians find reputable lenders & financial companies all over Canada and compare their products, rates, and terms in one place.

Frequently Asked Questions About Mogo

What is Mogo?

Mogo is a Vancouver based fintech, founded in 2003 that offers a range of easy-to-use products to help you rule your finances: personal loans of up to $35,000, free credit score monitoring, mortgages, identity fraud protection, and more. Their loan experience is designed to help you get out of debt faster, whether you have good or not-so-great credit.

Is Mogo Safe?

Mogo helps you take control of your financial health with solutions that are easy to use, transparent, and unconventionally fun. They are a member of the Canadian Lenders Association and were a 2016 Fintech Innovation Awards finalist in the marketing category. Not only have they been featured in The Globe and Mail, but have over 250 team members and three locations.

What Products and Services Does Mogo Offer?

Mogo offers instalment and high-ratio mortgage loans, and a line of credit. They also offer identity fraud protection, a Visa Prepaid Card and credit score viewing through Equifax.

How Much Can I Borrow from Mogo?

Mogo loans are between $500 and $35,000 depending on the type of loan you apply for. Instalment loans are from $500 to $35, 000. Their line of credit ranges from $500 to $3,500.

What Is the Interest Rate on a Mogo Loan?

Interest rates on Mogo loans start at 5.9%. You can get a Mogo instalment loan for an interest rate starting at 5.9%, while they'll only offer a mortgage where your down payment or home equity is less than 20% of your home value. A Mogo line of credit interest rate starts at 47.7%.

What Is the Term Length for a Mogo Loan?

Terms on Mogo loans are between 12 to 60 months.

How to Qualify for a Mogo Loan?

In order to qualify for a Mogo loan, you must be of age in your province, a Canadian resident, and need to provide a bank statement, proof of income and your identity.

Can I Apply Online for a Mogo Loan?

Yes, you can apply anytime using their online platform form.

How Fast Can I Get a Loan from Mogo?

Mogo provides approved customers same day funding. This means you can apply in the morning and receive proceeds directly into your bank account the same day.

How Will Mogo Send Me the Loan?

Mogo will send approved customers their loan funds through interac e-transfer and direct deposit.

How Does Loan Repayment Work at Mogo?

You can pay back your loan from Mogo directly from your bank account. Set up your choice of frequency and pre-authorize payments to deduct.

Which Provinces Is Mogo Available in?

Mogo is available in Ontario, British Columbia, Alberta, New Brunswick, Newfoundland, Nova Scotia, and Prince Edward Island.

What Kind of Customer Support Does Mogo Offer?

Mogo offers multiple ways to communicate with them, including their online live web chat and also have a help centre/blog where you can find commonly asked questions and answers.

What are Mogo Working Hours?

You can apply for a Mogo loan at any time online, or you can chat online with a representative during business hours. They also offer customers an opportunity to leave a message on their help centre, saying they will get back to all inquiries as soon as possible.

Mogo Reviews

Avg. Rating: 4.3 (13 reviews)
Approved so far...

I was skeptical at first, but the process was fairly simple actually. I was approved for $5,000, which is what I had asked for. They do call you right away after you finish your application just to verify a few things. I had a pretty good experience with Mogo.

Jonathan R
Excellent lender

I was amazingly surprise on how fast they called me. And I was approved. Ther personnel is professional and friendly. I recommended Mogo to all my friends.

Fides Inarweze
Very fast, profesional, and helpful company that helped me when I really needed it.

There are negative comments about this lender saying how they gouge venerable customers. They provide a service to people who normally would not received a loan because they haven't managed their credit properly, and give them the opportunity to improve their circumstances. I received my loan funds on the same day I applied with very little stress and time while also being on a weekend. I may be paying a high interest rate but that is motivation to pay it off as soon as possible. I needed emergency funds to get me through a week until my LIRA comes in and after being refused by many others Mogo came through for me in an efficiant and professional way. Thanks!

Darren
Love it

Love how easy it is to use and being able to keep tabs on my credit score for free! My husband caught an error quickly because of how accessible this site is.

Anita
Great Service

Great people providing timely solutions. Your team members are second-to-none.

Darrell M.
MogoCard

Love your card, thanks for helping me stay out of debt. I've told others about your card as well. I'm a big advocate for Mogo now!

Steve Simpson
MogoMoney

Everything is clear, you guys tell me exactly when I start my payments and when I stop, and exactly how much they’re going to be.

Brian B.
Very Pleased

When I heard about Mogo Liquid, I saw it as a great opportunity to consolidate all of my debt into one easy, bi-weekly payment.

Mike S.
Love the Credit Score Check

I loved being able to see my current credit score for free... Thanks Mogo!

Amber K.
Happy with the results

I wasn't too sure if I was going to get approved, but thankfully was able to get the loan I was looking for from Mogo quickly. Their online app is really great!

Jonathan
Great service

I had a very good experience using Mogo for a personal loan. Got approved within 1 day and used the cash to go on vacation.

Melvin
Lack of care

I have been trying for over a week to get a hold of someone to help answer questions, I have sent emails, I have tried calling and I got one response from someone asking me a question which i replied to right away and have never heard back. For a company that says customers are important they have a bad way of showing it
I just want an answers to my questions, that all.

Mike Rodger
bad experience

i can never speak to a real person. a small loan that i got, and i want to pay it off, but they are not provinding me with any information. i have requested alot of times. and all i get is an email saying we will get back to you

Michael Tadros

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