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A disability loan is a short-term financial product made for Canadians who receive disability benefits as their primary income source. Unlike traditional loans that require employment income, disability loans recognize government assistance programs (such as CPP Disability, ODSP, or AISH) as valid income for loan approval.
They work just like standard payday loans, but they're specifically accessible to people living on disability benefits. You can borrow anywhere from $100 to $1,500 to cover unexpected expenses like emergency repairs, medical costs, or urgent bills. The loan amount plus fees is typically due on your next scheduled benefit payment date.
Yes, in most cases, payday lenders in Canada accept government disability benefits as a valid source of income. Whether you receive federal programs like CPP Disability, provincial support such as ODSP or AISH, or private disability insurance payments, there are many online payday loans that accept disability in Canada. These licensed lenders recognize it as legitimate income sources when evaluating loan applications.
Living on disability income often means managing a fixed monthly budget, and unexpected expenses can create serious financial stress. A broken appliance, urgent home repair, or a medical cost that isn't covered can throw a serious wrench in your financial plans. This is where payday loans on disability can provide temporary relief until your next benefit payment arrives.
However, it's important to understand both the opportunities and risks before applying. Payday loans are a great financial help, but they come with fees (like any loan) and require careful consideration of your ability to repay on time.
The process of getting a payday loan while receiving disability benefits is fairly quick and easy. Here’s what you can expect:
Application: With iCash, the entire process happens online through our website or mobile app (available on Android and iPhone devices). You'll fill out a simple digital form providing basic personal information, banking details, and a few more simple details. It should only take you about 10 minutes to fill out. No need to visit a physical location or wait in line.
Loan Amount: iCash offers payday loan amounts ranging from $100 up to $1,500, depending on various eligibility factors. The amount you qualify for is usually calculated as a portion of your next expected benefit payment, ensuring you'll have the means to repay.
Repayment: Depending on the province you live in, repayment time may vary. Typically though, the full loan amount plus fees is due on your next “payday,” which for disability recipients means your next scheduled benefit payment date. The process is easy though, and the amount due is automatically withdrawn on your due date.
Getting approved for disability payday loans while on disability income involves meeting some basic requirements. Here's a practical step-by-step guide:
1. Meet Eligibility Requirements:
Be at least 18 years old (19 years old for applicants in British Columbia, New Brunswick, Nova Scotia)
Be a resident of any of the provinces in which we operate (AB, ON, BC, MB, NB, NS, PEI).
Show that you have been receiving the same source of income for the past three months.
Have a total net income of at least $800/month.
Have access to an online bank account, in which pre-authorized debits can be performed.*
Have a valid Canadian mobile phone number, address, and email address (VoIP numbers are not accepted)
*Please note that KOHO accounts do not qualify as they do not support pre-authorized debits.
2. Submit the Application: Once you've filled out all the details, hit that submit button. The automated system reviews your information quickly, and you’ll receive an instant decision regarding your approval.
3. Get Your Loan by e-Transfer: If approved, you'll electronically sign your loan agreement and can expect funds deposited via e-Transfer within 2 minutes - even on weekends and holidays. Plus, as an iCash member, you can earn up to 12% Cashback* on the cost of borrowing, making future loans even more affordable. It's our way of rewarding you for being a valued customer.
Remember, While there are many payday loans that accept disability with no credit check, the most reputable companies will still perform a check. Not for the purposes of approval, but more so for verification. iCash will not make lending decisions based solely on your credit score.
While disability payday loans in Canada are accessible to people receiving government benefits as income, the costs and risks still need to be considered.
Always make sure a lender is upfront about their fees. Here at iCash, we charge $14 per $100 borrowed, which strictly follows government regulations regarding payday disability loans.
If you can't repay the full amount plus fees on your next benefit payment date, you may face additional charges. If you feel that you may be unable to pay it back, contact your lender immediately. iCash will always do our best to work with you on a solution.
Before making a final decision, take the time to explore every alternative. Our team will be more than happy to answer any of your questions before you even apply. You can visit our FAQ to see if your answer is there, or get in touch with us directly. If you’re ready to apply, then simply hit that button below to begin!
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Since 2016, we've helped over half a million Canadians get instant loans online.
Since 2016 we have happily served over half a million customers.
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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 e-Transfer within 2 minutes. Fast, convenient and hassle-free. Funds are sent 24/7, no matter what.
Have more questions? Check out our full FAQ.
