Menu
Date Published: April 6, 2023 (Updated October 1, 2026)
Table of contents :
TL;DR
Travel loans in Canada are short-term installment loans that provide $100 to $1,500 deposited directly to your bank account via Interac e-Transfer—often within minutes of approval. iCash charges $14 per $100 borrowed, with no hidden fees, no subscription, and no tip prompt. Loan costs are shown in full before you confirm. iCash is a licensed lender operating under provincial consumer protection law in every province it serves.
A travel loan is a short-term personal loan (sometimes called a vacation financing option) used to cover expenses like flights, hotels, or transportation. You borrow a fixed amount, see the full cost upfront, and repay it over a short period—usually lined up with your pay schedule.
For example, people use travel loans to:
Lock in a flight deal before prices increase
Pay for a hotel deposit
Cover a last-minute car rental or travel expense
How it compares to a credit card. If you have room on a credit card and can pay the balance off quickly, a card is almost always the cheaper way to pay for a trip. A vacation loan is worth considering when a card isn't an option — no available credit, no card, or an application that isn't likely to be approved. What you get in exchange is predictability: the cost is fixed before you accept, and it doesn't grow the longer you take.
For a deeper look at how travel now pay later works in Canada, see our full guide.
iCash charges a flat $14 per $100 borrowed. There are no ongoing fees, and the full amount is shown before you confirm.
Loan Amount | Fee | Total Repayment |
$300 | $42 | $342 |
$500 | $70 | $570 |
$1,000 | $140 | $1,140 |
Like other installment loans, travel loans give borrowers a clear repayment schedule, helping with budgeting and financial planning.
Borrow $500 for 14 days
Cost of borrowing: $70
Total repayment: $570
APR: 365.00%
APR looks high because this is a short-term loan. What matters most is the total dollar cost, which stays fixed and doesn’t increase over time. Repay on time and you can earn up to 12% cashback, which reduces what the loan effectively costs you. The Cashback Program isn't available in Manitoba or New Brunswick.
Not sure what fits your pay cycle? Use our loan calculator to see the full cost before you apply.
The Financial Consumer Agency of Canada recommends reviewing total borrowing costs and repayment timing before choosing any loan. Taking a minute to check if the repayment fits your next pay cycle can help you avoid unnecessary stress later.
Getting an online loan with us is fast and easy. Simply select your loan amount, repayment plan* and provide some personal details.
Our online loan application will tell you if you’re approved instantly. Once approved, all you have to do is electronically sign your contract. It’s that easy!
Once you sign your digital agreement, your cash advance will be sent by Interac e-Transfer® within 2 minutes. Fast, convenient and hassle-free. Funds are sent 24/7, no matter what.
Option | Cost | How fast | What you need |
iCash vacation loan | $70 flat, fixed — up to 12% back when you repay on time | e-Transfer within minutes, 24/7 | Regular income and a bank account |
Credit card (paid in full) | $0 if cleared by the due date | Instant, if you already hold the card | An approved card with room available |
Credit card cash advance | Roughly $15–$20, plus an advance fee — interest starts same day | Instant at an ATM | An approved card with room available |
Buy now, pay later | $0 if every instalment lands on time; fees if not | At checkout | Approval at checkout; not accepted by every travel provider |
Line of credit | A few dollars in interest | Days to weeks to set up | Good credit and an approved limit |
The cheaper options above have one thing in common: they only work if you've already been approved for credit and have room left on it. If a card or line of credit is sitting there unused, that's your cheapest route and we'd tell you to take it.
Most people looking at vacation financing aren't in that position. They've got a trip booked, a deposit due, and no available credit to put it on. That's what a vacation loan is for — $100 to $1,500, sent by Interac e-Transfer within minutes of approval, any day of the week, with the full cost shown before you accept. No waiting on a bank appointment, no application that takes days to come back.
Yes, you can get a holiday loan even with poor credit. A lower credit score does not automatically disqualify you. iCash looks at your current financial situation, not just your past that means regular income from employment or government benefits, consistent deposits, and the ability to repay by the due date.
Here’s how credit checks work:
First loan: one-time credit check
Future loans: no additional credit checks
This approach gives people with less-than-perfect credit a fair chance to qualify. If you want to explore more options, see bad credit loans.
A travel loan can be helpful in the right situation—but it’s not always the best option. Being clear about that helps you make a decision you won’t regret later.
You found a time-sensitive deal (flights, accommodation)
You have a steady income and a clear repayment plan
The cost fits comfortably into your next pay cycle
You want a fixed, predictable repayment instead of variable interest
You’re already struggling to cover essential expenses
Repayment would create more financial stress next month
You’re borrowing for a trip without a clear budget
You have access to a lower-cost option (like savings or a line of credit)
Borrowing responsibly is vital to ensure these options remain tools that support your long‑term financial health and credit. In Canada, that means understanding the terms, keeping debt manageable, and only borrowing what you can realistically repay.
Since 2016, we've helped over 1.6 millions Canadians get instant loans online.
Since 2016, we've helped over 1.6 millions Canadians get instant loans online.
Read more reviews.
Have more questions? Check out our full FAQ.
Compare BNPL, credit card plans, and short-term loans to finance travel in Canada. See costs, approval requirements, and how each option works.... Read more
