Home Depot Project Loan
No impact to credit score
For existing customers
A Project Budget to Match Your Dreams
✓ Prequalify in under 60 seconds without impacting your credit score.
✓ Get approved for up to $50,000*.
✓ Pay 0% APR for 6 months while you make your project purchases (minimum payment required).
✓ Then pay 10.99% APR for up to 60 months or pay off your balance in full at any time (no pre-payment penalty).
✓ Use it with Home Depot online, in-store and for Home Services^.
Home Depot Project Loan: A Step-By-Step Guide
Project Loan - The Home Depot Canada
Home Depot Project Loan: A Step-by-step Guide
Step 1:
Apply
Apply online and get instantly approved for up to $50,000. And don’t worry — you can prequalify with no impact on your credit score.
After completing your application, you will have access to digital shopping cards on your smartphone to make purchases.
Step 2:
Shop
During the 6-month shopping period, save with 0% APR as you shop online or in-store for everything you need for your project (minimum monthly payment required)*.
Step 2:
Shop
During the 6-month shopping period, save with 0% APR as you shop online or in-store for everything you need for your project (minimum monthly payment required)*.
Step 3:
Pay It Off
After 6 months, take up to 60 months at 10.99% APR or pay off your balance at any time. There’s no prepayment penalty.
Graphics for illustrative purposes only.
Bring Your Dream Project to Life With a Budget to Match
Bring Your Dream Project to Life With a Budget to Match
No impact to your credit score
Measure Out Your Payment Plan
Have a project in mind? Use the payment estimator to find out how you can build now and pay later.
Have a project in mind? Use the payment estimator to find out how you can build now and pay later.
Frequently Asked Questions
Application FAQ
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Prequalification is the first step of the Project Loan application process. Prequalification allows you to find out if you are eligible for Project Loan without impacting your credit score, although you will see an inquiry on your credit report.
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The first step of the application process, prequalification, will not affect your credit score. If you choose to complete step two of the application to get fully approved, a full credit check is required and your score may be impacted.
Shopping Period FAQ
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The Home Depot Project Loan Card is a virtual shopping card you can use to shop at any Home Depot location, online at homedepot.ca or with select Home Depot Home Services.
- To shop in-store, use the Project Loan Card barcode on your smartphone to pay for your purchase at checkout
- To shop online at homedepot.ca and/or select Home Services, use your Project Loan card number, expiry date and CCV code at checkout
You can also order a physical Project Loan Card which is Chip and Pin enabled.
Important: For security purposes, the barcode for your Project Loan Card will refresh every 24 hours or after every purchase.
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For Canadian Residents (excluding Quebec):
During the shopping period your APR is 0.00% and you are only required to make minimum payments of 0.4% of the closing balance on the monthly statement, which will be withdrawn from the associated chequing account. Once the 6-month Shopping Period ends, you must pay off your Project Loan balance in up to 60 equal monthly payments at 10.99% APR.* There are no other fees or charges associated with your Home Depot Project Loan Card.
For Quebec Residents:
During the shopping period your APR is 0.00% and you are only required to make minimum payments of 0.4% of the closing balance on the monthly statement, which will be withdrawn from the associated chequing account. Once the 6-month Shopping Period ends, you must pay off your Project Loan balance in up to 60 equal monthly payments at 10.99% APR.* There are no other fees or charges associated with your Home Depot Project Loan Card.
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You can use your Project Loan Card to purchase any product or service sold by Home Depot Canada in-stores, online at homedepot.ca or for select Home Services.
Note: You cannot purchase gift cards with your Project Loan Card.
Monthly Installments FAQ
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Monthly installment payments start six months from the signing of your loan agreement.
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The Home Depot Project Loan terms are as follows:
For Canadian Residents (excluding Quebec):
APR during 6-month Shopping Period: 0.00%. APR thereafter, 10.99% for 60 months*
Term: 60 months*
Amortization period: 60 months*
Shopping Period: Your APR is 0.00% and you are only required to make minimum payments of 0.4% of the closing balance on the monthly statement.
For Quebec Residents:
APR during 6-month Shopping Period: 0.00%. APR thereafter, 10.99% for 60 months*
Term: 60 months*
Amortization period: 60 months*
Shopping Period: Your APR is 0.00% and you are only required to make minimum payments of 0.4% of the closing balance on the monthly statement.
*Important: If your final purchase balance is less than $1,000, your term and amortization period will be 12 months.
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Yes. You can make early or extra payments, or pay off your balance in full without penalty. You can only make extra or early payments after your shopping period ends.
For instructions about how to make early or extra payments, log in to your Home Depot Project Loan dashboard.
| Loan Amount | Typical Monthly Payment at 10.99% APR† | Interest and Fees Payable Over the Life of the Loan | Total Obligation |
|---|---|---|---|
| $500 | $45 | $40 | $540 |
| $10,000 | $233 | $3,980 | $13,980 |
| $20,000 | $465 | $7,916 | $27,916 |
| $50,000 | $1,163 | $19,789 | $69,789 |
*On approved credit by FinanceIt Canada Inc. as agent for a third-party financial institution. Principal only payments of 0.4% required during the 6-month Shopping Period. The billing account period covered by each account statement will be approximately 28 to 31 days. No grace period applies. After the 6-month Shopping Period, the total amount outstanding by the borrower will convert to a term loan at a fixed credit rate/APR of 10.99% with fixed monthly payments divided over (i) a 60-month term where the minimum spend is over $1,000, or (ii) 12 months with a spend of $999.99 or less. No downpayment required and no credit charges apply. A loan of $50,000 incurs $19,789 in interest and credit charges over 60 months for a total obligation of $69,789. See store associate or homedepot.ca/projectloan for details.
† Project Loan Payment Examples are based on a credit rate/APR of 10.99% divided over a maximum 60-month term. No downpayment. All figures presented are examples provided for illustrative purposes only. Typical Monthly Loan Payment excludes any interest previously due during Shopping Period. Financing provided by FinanceIt Canada Inc. as agent for a third-party financial institution. See homedepot.ca/projectloan for details.
^Not valid in combination with any other offer or Local Pro.