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Instant Payday Loans in Canada

It has been said that money makes the world go ‘round. As much as it is easy to dismiss that statement, its truth becomes clear the moment an unexpected expense comes up and your bank account is not ready for it. At times like these, you can turn to an instant payday loan in Canada to help you get out of a financial crunch.

A quick instant payday loan is ideal for those who did not expect an errant pebble to chip their car’s windshield on the way home from work. Or, for those of us who would never expect a winter storm to knock over a chunk of backyard fencing. Emergencies like these happen. That's why it's important to know that the purpose of a fast personal loan is to help you get through them.

Easy instant payday loans are available in Canada through direct lenders. These lenders perform credit checks, but do not usually require a minimum credit score from applicants.

Because prospective borrowers need money fast, the application and approval processes are meant to be quick and straightforward. In most cases, your loan can be approved within minutes of applying for it. Then, once you sign the lender’s loan agreement, funds can be transferred to your account via e-transfer within 2 minutes.

The maximum amount of money a private lender can provide for an instant wire transfer payday loan in Canada is $1,500. Funds can subsequently be used at your discretion to assist you through a financially challenging situation until your next paycheque comes in. Once that paycheque is received, be sure to repay the loan the lender on the agreed upon dates in order to avoid any extra fees and / or charges.

As you may already know, there are a large number of direct lenders in Canada that provide loans with instant approval. With this being the case, it is in your best interest to do a bit of research before choosing a lender. During this exercise, take a look at a handful of money lenders. Read their customer reviews and peruse their websites to see who feels like the right fit.

Once you’ve decided on who to go with, consider the size of loan that you are looking for. It is recommended that you only request a loan that you will be able to pay back by the deadline assigned. Instant decision payday loans are only to be used when absolutely necessary and are supposed to help you avoid sizeable debt, not put you into it.

With that in mind, please understand the fees that will be attached to your loan. In Canada, money lenders charge fees of 15% to 25% for emergency loans with a two-week term, depending on the province in which they reside.

The chart below illustrates the fees for taking out a loan. The data is broken down for each province within Canada.

In the chart you will also see any charges that may be applied if the loan is not paid back on time.

Province Maximum cost of borrowing for a $100, 2 week instant payday loans Cooling off period to cancel the instant payday loan Maximum penalty for a returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours, excluding Sundays and holidays $20
New Brunswick $15 48 hours, excluding Sundays and holidays $40 (default penalty)
Nova Scotia $19 Next business day $40 (default penalty)
Ontario $15 2 business days n/a
Prince Edward Island $25 2 business days n/a
Saskatchewan $17 Next business day $25

Finally, it is critical to ensure that the lender you choose does not seek advance payment to evaluate your credit or financial history. What’s more, confirm that the lender you want to work with is licensed in your province and adheres to regulations.

Where Can Someone Get an Instant Payday Loan Online?

You can quickly and securely apply for an instant payday loan online on the iCASH website, or our loan app that is available for both iOS and Android devices.

Simply complete the application and provide your personal contact details, information related to your financial and employment situations. We look at many different elements prior to instantly approving a loan, you can still be approved for an instant same day payday loan online.

What makes this incredibly convenient is that you will receive the money you need very fast. Thanks to the technology that does the processing in the background, we can quickly help you pay that unexpected bill.

Across Canada, there are also a number of loan places that offer online payday loans with instant approval. These brick and mortar locations give individuals the opportunity to get funded at one of their locations. Ahead of visiting one of these branches, it’s best to find out in advance what type of paperwork and information you’ll need to provide in order to apply for a faxless instant payday loan at one of these locations.

Some of these companies will ask that you have an open chequing account and can provide them with your financial institution number along with your bank account number. In some instances, a bank statement could also be required. Proof of recurring income (including your income, pay cycle frequency, etc.) and your employer’s name will also be needed.

Another viable option to apply for a loan is a local pawnshop. What makes pawnshops different from direct lenders and local loan stores is that they offer collateral-based loans. To secure one of these, you would need to bring an item of value to the pawnbroker. The amount given is usually a percentage of the pawned item’s value. The pawnshop would then hold on to this item until you are able to repay the loan.

When making your decision on which lender to go with, it is critical to consider a number of factors. First and foremost, look into the lender’s reputation. Use Google to find customer reviews, news items, or websites that can offer you as much insight into your prospective lender as possible.

If you require to get payday loans with instant payout to take care of urgent expenses such as your “check engine” light keeps flashing, be sure the lender you’ve chosen offers instant payday loans online. Some lenders have multiple loan options, so it is prudent to make sure you know exactly what you are signing up for.

In the same vein, find out how fast the application process is and how long it will take for funds to be disbursed. Some private lenders provide instant payout as soon as your loan application is approved and signed.

What’s more, don’t be embarrassed to ask questions. When borrowing money online, we encourage you to ask about the fees that are related with your loan, what kind of repayment options are available and how you can reach the lender if you have any questions.

Benefits of Instant Cash Payday Loans

What really stands out about instant cash payday loans in Canada is how easy and fast it is to receive funds. We know that loans of this nature are needed as soon as possible – it doesn’t benefit anyone to have a slow, complicated process.

Instant payday loans are designed for speed and convenience. You simply need to outline your personal contact information, relevant income and employment details.

The best online instant payday loan companies are more risk averse than traditional banking institutions; decisions are not based solely on credit scores. More often than not, you will receive instant approval, even if you have no credit history.

Another big plus about these types of quick loans is that they are short term by nature. Since you are likely requesting funds for a brief monetary shortfall, you would be able to pay back the loan by your next paycheque. That said, some private lenders offer a variety of flexible repayment plans.

Our customers can choose to pay back their instant cash payday loan in seven to 62 days. Depending on the province you reside in and your pay cycle. Better yet, the interest fee remains the same regardless of your repayment schedule that you choose.

To get an instant cash payday loan from direct lenders, you need to meet the following minimum requirements.

• Be at least 19 years old
• Be a Canadian citizen and a resident of Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Nova Scotia, or Prince Edward Island
• Be employed with the same employer for the past three months
• Have a net income of at least $800/month
• Receive your pay by direct deposit
• Have a Canadian bank account that has been open for at least three months
• Have a valid mobile phone, email address, and home address

Online Payday Loans with Instant Approval

If you need extra funds to cover an expense you didn’t anticipate (i.e. dental expenses, a veterinarian visit.) you can apply for an online payday loans with instant approval.

In Canada, instant approval payday loan amounts are usually small. This should allow you to repay the lender by your next paycheque.

Many direct private lenders have brick and mortar store locations for those looking to complete their loan application in person. However, many of these same outlets have opted to also make these loans available online, thanks to these numerous advantages:

Apply from anywhere: Online payday loans with instant approval in Canada can now be applied for online from your computer or through a mobile app. There is no longer the need to find a place near you to qualify, get instant approval and be funded all on the same day.

Instant approval: After filling out the online application, you will receive an instant loan decision within minutes.

Good credit, bad credit: Regardless of your credit score, it is possible to get instant approval on your loan.

Stress-free: Breathe easy knowing that these types of loans are designed to assist you through the short term monetary hurdle you may be facing.

24/7 access: Even if it’s 3:30am on a Sunday, you can apply online for an express loan and get approved instantly.

No banks: Borrowing money from a bank can be a long, drawn out, complicated experience. Bypass them all together by applying for an instant payday loan online.

Repayment transparency: Online private lenders share their repayment and fee details on their websites, helping you to better understand all fees, costs and interests that are linked to your loan.

Customer-friendly: If you have trouble working through the loan application online, customer representatives will respond quickly to any questions you might have

No paperwork: The application is completed online, does not require the faxing or dropping off of documents.

Stay secure: We use 256-bit encryption technology to ensure that the personal information you share with us remains safe and private.

Instant Payday Loans for Bad Credit from Direct Lenders

Just because you have poor credit or no credit at all, that does not mean your loan application should be tossed aside. Direct online lenders believe that even if your credit isn’t where you’d like it to be, that shouldn’t preclude you from getting approved for an instant payday loan for bad credit.

We understand banks and other traditional financial institutions pay great attention to credit scores when determining who should get instantly loan approval. We know that if a bank sees a credit history it doesn’t like, they may decline your loan application.

With private lenders, credit checks are performed to confirm your identity, as well as to take a closer look at your employment and financial details. We do not have a minimum credit score requirement, nor do we reject applicants if they have poor credit.

We analyze a number of different pieces of criteria when going through an application. This process helps us determine the size of your loan that you will be approved for.

In some situations, when you apply for an instant payday loan for bad credit from direct lenders, you may get instantly approved, however the amount of the loan might be less than you requested.

This is a measure taken by responsible lenders to not give you more money than you might be capable of paying back on time. Our goal is to help you avoid debt, not create more of it. If you pay your loan back on time and need to borrow money once more in the future, certain private lenders will approve you for a higher amount instantly.

We encourage you to borrow money in a conscientious way. The purpose of loans for bad credit is to assist you during times of need, however the interest rate is higher than other types of loans.

You should only apply and use such loans when you have no other options at your disposal. You should use them only occasionally and not for the long term. If used in a careful way, they can be a great resource of funding when you need it most. If you take on too much debt at the same time, it could have a great impact on your financial well-being.

Remember, since online instant payday loans are unsecured, you do not have to put up any collateral. Simply log on to our website or mobile app, fill out the application, and receive approval in minutes.

We provide instant payday loans in these provinces of Canada

in Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Nova Scotia, Prince Edward Island.

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iCASH offers a unique Cashback program to reward its customers in Canada. You can get back up to 20% of the cost of borrowing paid once your instant approval payday loan is repaid and receive your Cashback direct into your bank account the same day. Real saving and real Money!*

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Apply in a few simple steps and get the money today. Complete the quick and easy loan application on our website – provide some personal information about yourself, select the amount of money you need, and the loan repayment schedule.

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As soon as you send us your online loan application. You’ll receive instant approval on your personal loan 24/7 so you can take care of anything that life throws your way. Quick, easy, trustworthy loans from a licensed Canadians lender.

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Your money will be sent to you via e-transfer in 2 minutes or less. Email money transfer means that the funds from an instant loan can be accessed anytime, day or night, 24/7. Safe, loans online with same day funding.

Minimum repayment period 61 days. Maximum repayment period 62 days. Maximum APR is 109,50%. For a $300 loan, the maximum total cost of borrowing is of $354. Interest fees: Alberta $15 per 100, British Columbia $15 per 100, Manitoba $17 per 100, New Brunswick $15 per 100, Nova Scotia $19 per 100, Ontario $15 per 100, PEI $25 per 100. 372 Bertha Street, Hawkesbury, Ontario, K6A 2A8. iCASH only offers online services. Please note that we cannot accept customers or conduct any transactions from this location.

FAQs about Instant Payday Loans

How can I get an instant payday loan online?

• A quick instant payday loan can be taken out through a loan store, a pawnshop, or an online private lender, like iCASH. Each lender will have their own requirements that need to be met in order for you to secure a loan.
• If you meet these requirements, fill out an application. In addition to providing your contact, employment, and income details. Applications can be filled out in-store, and/or online, depending on the lender.

How do I apply for an instant payday loan?

• Fill out our online application and receive instant approval in minutes. Be sure to complete these forms with all of the information requested.
• As soon you get instant approval, sign the loan agreement and pre-authorized debit form. From there, funds will be electronically transferred into your bank account.

Can I get an instant payday loan with no credit check in Canada?

• You can get an instant loan online with iCASH. While we will check your credit history, we do not base our approval on your credit score.
• We evaluate other criteria ahead of deciding the size of loan amount that you’ll be approved for. A credit check is usually performed to validate the information of your application.
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