Payday Loan Calculator

Try our easy payday loan calculator to figure out what your fees and payments will be.

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Download iCash on the App Store.

Calculate your loan payments

Determining your exact loan payments can be confusing. iCash wants to put you in charge by making this process easy and intuitive. Try our loan calculator! It tells you exactly how much you will pay on each payment depending on your province, the amount you would like to borrow, and the number of payments. Start below!

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Cost summary

Total cost

Instant loans available throughout Canada

The cost of borrowing is calculated according to the payday loan legislation of each province:


British Columbia


New Brunswick

Nova Scotia


Prince Edward Island

Interest fee

$15 per $100

$15 per $100

$17 per $100

$15 per $100

$15 per $100

$15 per $100

$15 per $100

The cost of borrowing is calculated as a percentage of the amount borrowed.


Province: British Columbia

Loan amount: $300

Pay frequency: bi-weekly

Repayment terms: 3

You will have to repay 3 payments of $115.

When you need a quick loan in Canada, it is easy to get confused as to which financial solution is right for your specific situation. There are many factors that need to be considered, such as payback period, wait time to receive your funds, interest rates, incentives, and loyalty programs.

The first thing to consider is the period needed to pay back your loan. At iCash we are proud to offer our customers the option to pay back in 1-3 instalments.* This allows our customers the flexibility to properly budget, as well as the freedom to decide what works best for their situation. The loan calculator details the exact repayment instalment amount based on the payment terms desired. This way you can see the exact amount per paycheck that you would need to budget.

A common misconception about instant loans is that the interest rates are exorbitant because the cost of borrowing is compared to the annual percentage rate (APR) of longer term borrowing options. In reality, instant loans are short-term loans that are paid back within a few weeks. Today, all licensed payday lenders in Canada charge a $15-$17 fee per $100 borrowed because they are governed by provincial laws. After entering the required information in the loan calculator, the exact amount of interest charged per loan will be detailed.

While doing your comparison shopping for the right personal loan, look for a lender that truly values your business. At iCash, we have developed a unique reward program in order to offer something as a “thank you!” to our valued customers. Our cashback program earns our customers a percentage back on the cost of borrowing – even after the very first loan!*

Get up to 20% in cashback*

Earn money every time you borrow with iCash! Our unique cashback program is designed to reward you for being a loyal customer and can help you save on future loan payments. After successfully paying off your first online loan, you'll receive 5% of the cost of borrowing credited to your account. You can earn up to 20% depending on how many iCash loans you have repaid.

Earn up to 20% cashback* on the cost of borrowing when you repay your iCash loan.

Why Canadians choose iCash loans

iCash offers easy, fast, and secure online loans in Canada, 24 hours a day and 7 days a week. There's never been a more convenient way to access cash when you need it most.

Fast online application

The days of waiting in line at a physical lender or bank for a cash advance are gone. We offer a simple, easy-to-use online application that you can access 24/7 from the comfort of your own home. All you need is a laptop, smartphone, or tablet, and an internet connection.

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No documents required

Our online loan application is streamlined. We have all the tools to automatically evaluate your application without asking for any documents. No need to fax long forms or print out bank statements. Everything is paperless!

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No hidden fees

We are committed to responsible and transparent lending, which is why we make sure all the interest and fees involved in your short-term loan are displayed in a clear and understandable manner. This gives you the ability to make an informed decision about your loan.

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Instant decision, 24/7

Our approval process is automated. You’ll know right away if you’re approved. This means that you can get the money you need instantly, without having to wait hours or days. We take care of everything for you, so that you can focus on what’s important.

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E-Transfer in 2 minutes, 24/7

Once approved, your cash advance will be sent directly to you by e-Transfer within 2 minutes, no matter the time of day. By getting the money you need right away, you’ll be able to better deal with whatever financial emergency you’re facing.

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Membership perks

We reward our customers for choosing us. iCash customers enjoy up to 20% cashback* on the cost of borrowing when they complete a loan.* Our customers also receive faster loan processing and increased borrowing amounts on future loans. In addition, we have a referral program*, and regularly host promotional contests and giveaways.

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Get an instant loan today

iCash has helped more than 950,000 Canadians get instant loans online without hassle. Download our mobile application today!