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British Columbia Residents: iCash offers payday loans in British Columbia (license number: 67639)

Ontario Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $500 loan of 14 days, the total cost of borrowing is $70, with a total payback amount of $570 and an APR of 365%. On a loan of 62 days, the APR is 82.42%.

Manitoba Residents: To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800 or 1-800-782-0067 or at www.manitoba.ca/cca/cpo

Nova Scotia Residents: Payday loans are High Cost Loans. The maximum allowable cost of borrowing under the payday loan agreement is 14$ per every 100$ received, which means on a 100$ loan for 14 days, the total cost of borrowing is 14$, with total payback amount of 114$ and an APR of 365.00%.

PEI Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $300 loan of 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365.00%. On a loan of 62 days, the APR is 82.42%.

The Cashback Program and Refer a Friend Program are not available in Manitoba, British Columbia and New Brunswick.

How To Get Payday Loans In Saskatchewan

Lisa
Author:
Lisa
Lisa Rennie
Senior Contributor at Loans Canada
Lisa has worked as a personal finance writer for over a decade, creating unique content to help educate Canadian consumers. Expertise:
  • Personal finance
  • Real estate
  • Mortgage financing
  • Investing
Priyanka
Reviewed By:
Priyanka
Priyanka Correia, BComm
Senior Editor at Loans Canada
As a senior member of the Loans Canada team, Priyanka Correia is committed to empowering Canadians with the knowledge they need to make smart financial choices.
Expertise:
  • Personal finance
  • Consumer borrowing
  • Consumer banking
  • Debt management
📅
Updated On: July 25, 2025

If you live in Saskatchewan and are in need of fast cash, a payday loan may be an option. These types of small, short-term loans are available from payday lenders throughout the province.

Usually, payday loans are made for no more than $1,500, and they must be repaid in one lump sum by no later than 62 days, though repayment dates may be as short as a couple of weeks.

Not only do payday loans in Saskatchewan provide funding shortly after application, but the approval process is also very easy. As long as you can prove some form of income, you won’t have to worry about passing any credit score requirements, as these loans typically do not involve a credit check.


Payday Loans In Saskatchewan: What You Should Know

Before applying for a payday loan in Saskatchewan, it’s helpful to get familiar with the basics of these unique short-term loans:

Loan AmountsUp to $1,500
Loan TermsNo longer than 62 days
Limit On Fees$14 per $100 borrowed
Funding SpeedIn as little as a few minutes
Funding Method– e-Transfer
– Direct deposit
– Cash
– Prepaid cards (where available)
Note: Payday loans are extremely expensive and can lead to a cycle of debt if you’re unable to repay the full amount borrowed. To Learn about the payday loan laws in your province, click here.

How To Qualify For A Payday Loan

Payday loans are among the easiest financing products to get approved for. Generally speaking, all you need is the following:

  • Be the age of majority (18 in Saskatchewan)
  • Have an active bank account
  • Earn a sufficient income

What Credit Score Do I Need?

Payday lenders often don’t conduct credit checks, and if they do, they typically accept all types of credit. That means you can apply and get approved for a payday loan even with bad credit. 

Do I Have To Be Employed?

Many payday lenders accept non-employment sources of income, like the following:

  • Employment Insurance (EI)
  • Canada Pension Plan (CPP)
    Private pensions
  • Disability benefits

As long as the amount you earn each month meets the lender’s minimum requirements, you may be able to use income sources that are not from a traditional job.


Where To Find Licensed Payday Lenders In Saskatchewan 

You can easily find a licensed payday lender in Saskatchewan by searching for a licensed lender on this list created by the government. Otherwise, you can check each lender to see if they are licensed by looking for a license number on their physical storefront or on their website.

Here are a few licensed payday lenders in Saskatchewan to help you start your search:

Loading...
Loans Canada
Loans Canada
Amount
Up to $50,000
Rate
Prime to 35%
Term
3-60 months
Loan Me Now - Personal Loan
Loan Me Now - Personal Loan
Amount
$500 – $1000
Rate
Up to 32%
Term
3
Cash Money - Payday Loan
Cash Money - Payday Loan
Amount
Up to $1,500
Rate
$14 per $100
Term
Up to 60 days
GoDay - Payday Loan
GoDay - Payday Loan
Amount
$100 – $1,500
Rate
$14 per $100
Term
14 days
My Canada Payday - Payday Loan
My Canada Payday - Payday Loan
Amount
Up to $1,500
Rate
$14 per $100
Term
14 days
Speedy Cash - Payday Loan
Speedy Cash - Payday Loan
Amount
$200 – $1,500
Rate
$14 per $100
Term
Next payday
Loan Express - Payday Loan
Loan Express - Payday Loan
Amount
up to $1,500
Rate
$14 per $100
Term
14 days


Can I Apply For A Payday Loan In Person? 

Yes, there are some lenders you can apply with by visiting the store in person. However, availability may vary depending on your location. Here are a couple payday lenders you can find in various cities:

Cash Money– 2115 22nd St W, Saskatoon, SK S7M 0V2
– 1501 Idylwyld Dr N, Saskatoon, SK S7L 1A9
– 475 Albert St, Regina, SK S4R 2P1

Find a location near you with this CashMoney branch locator.
Speedy Cash– 5-1601 22nd Street West, Saskatoon, Saskatchewan, S7M 0T2
– 907 Main Street North, Moose Jaw, Saskatchewan, S6H 0W9
– 364 Albert Street North, Regina, Saskatchewan, S4R 3C1

Find a location near you with this Speedy Cash branch locator.

What To Do When You’re Ready To Apply For A Payday Loan

To apply for a payday loan in Saskatchewan, follow these steps:

1. Compare Lenders & Loan Offers

Different payday lenders may offer varying loan amounts and terms. Some lenders might accept non-traditional income sources, as mentioned, while others may not. 

To determine the best option for you, consider getting pre-approved or requesting a loan quote. Using a loan comparison website like Loans Canada can help you compare multiple offers quickly and easily.

2. Apply

Once you’ve found a lender, complete their application, whether online or in person. During the application process, you’ll need to provide your personal and financial details. 

You might also be asked to provide your banking credentials for instant bank verification (IBV), allowing lenders to quickly verify your banking information for a speedier approval process.

3. Get Funded

After submitting your application, it can take as little as a few minutes to up to 24 hours to receive a response. If approved, you’ll receive a loan agreement to sign, and then your funds will be transferred within minutes.

What Is Instant Bank Verification?
IBV is a process that allows lenders to access your bank information to verify your income and identity. The process is quick and secure, allowing the process to move along much faster and safely.

Your Rights As A Payday Loan Borrower In Saskatchewan 

As mentioned, there are specific regulations surrounding payday loans in the province of Saskatchewan. It’s recommended that consumers get familiar with these rules to ensure they’re being treated fairly when applying for a payday loan.

In Saskatchewan, the following apply to payday lenders:

Loan AmountsUp to $1,500
Loan TermsNo longer than 62 days
Limit On FeesMaximum fee of $14 per $100 borrowed
Cooling-Off PeriodNext business day
RolloversNot permitted
Disclosures– Disclosure that a payday loan is a high-cost loan
– All amounts, rates, fees, penalties or other charges
– Notice of your right to cancel the loan before the end of the business day
Lender LicensingAll payday lenders must be licensed in the province
Default Consequences– Interest up to 30% per annum, on the principal amount in default
– NSF charge up to $20

Learn more: Payday Loan Rights


How Much Will A Payday Loan Cost?

In Saskatchewan, the maximum cost for a payday loan is $14 per $100 borrowed, which is the equivalent of an APR of 365%. 

We’ve listed several loan amounts below to help you understand how much a payday loan will cost you, depending on how much you borrow (based on a 2-week repayment term): 

Loan Amount Cost To BorrowTotal Loan Cost 
$100$14$114
$200$28$228
$300$42$342
$400$56$456
$500$70$570
$1,000$140$1,140
$1,500$210$1,710

Important Tips To Consider When Applying For A Payday Loan

A payday loan may be able to get out of a financial jam, but it’s not without its risks. Be sure to look out for the following before applying:

Beware Of Scams

Most people turning to payday loans in Saskatchewan are facing urgent financial needs or can’t qualify for traditional lenders. Unfortunately, scammers often exploit this desperation. They may either offer fake online loans to steal personal and financial information, or may entice borrowers with loan guarantees, then demand upfront payments to steal their money. 

Steer clear of lenders who lack a good reputation or legitimate credentials. Verifying their legitimacy before applying and signing any loan contracts.

Avoid Excessive Debt

Payday loans can quickly become a debt trap if not managed carefully. That’s because they come with sky-high fees and must be repaid within a short time frame, usually in one lump. Missing payments can result in penalty fees, which can add up quickly. 

Only apply for a payday loan if you’re certain that you can cover the repayment in full by the due date. Otherwise, you could find yourself drowning in a pile of mounting debt.


Are Payday Loans Right For You?

Only consider a payday loan in the right circumstances, which may include the following:

  • Unexpected Emergency Expenses: If you face a sudden, urgent expense — like a medical bill, car repair, or home repair — that can’t wait and you don’t have enough savings, a payday loan can provide quick access to funds to cover these costs.
  • Bridging The Gap To Your Next Paycheque: If you need funds to cover essential living expenses — like rent, utilities, or groceries — and just need a few days until your next paycheque, a payday loan can offer a short-term bridging solution.
  • Inability To Secure Traditional Financing: If you have bad credit and can’t qualify for a traditional loan, but still need immediate cash to cover certain expenses, a payday loan might be an option, as long as you can repay it quickly.

Payday Loan Alternatives

Besides payday loans, other programs are available that can help meet your quick cash needs: 

Credit Card Cash Advances

Your credit card may allow you to withdraw money from your credit account, up to your credit limit. While the rate applied to the withdrawn amount may be relatively high compared to other loan options, it will likely be a lot lower than what you would pay on a payday loan. 

Personal Loans

A personal loan provides you with a lump sum of money that you then repay in regular installments over a set term. Compared to payday loans, personal loans are easier to pay back and come with lower interest rates.

Car Title Loans

If you have a vehicle and have fully repaid the car loan, you can use an auto title loan to borrow money. Your car’s title is used to back the loan, which reduces the lender’s risk and makes it easier to qualify for at lower rates compared to payday loans. 

Small Credit Lines And Advances

Companies like Nyble and Bree offer small lines of credit and cash advances that you can access immediately when money is tight.  

  • Nyble: Nyble offers up to $150 in credit lines that can be repaid whenever you’re able to. You won’t be charged interest, and you can even use the credit line to build good credit.
  • Bree: Bree offers up to $350 in cash advances designed to help you avoid bank overdraft fees. No credit check is involved, and there are no hidden fees.

Government Assistance Programs

The provincial government of Saskatchewan offers several programs designed to provide financial assistance to residents in need:

Financial Resource
Saskatchewan Income Support (SIS)Learn More
Seniors Income Plan (SIP)Learn More
Saskatchewan Assured Income for Disability (SAID)Learn More
Saskatchewan Temporary Wage Supplement Program (STWSP)Learn More
Family Health BenefitsLearn More

Debt Relief Programs In Saskatchewan

If your financial issues are much more severe, you may need to consider a more aggressive approach to deal with your issues. There are options available to help alleviate your high-cost debt: 

Credit Counselling ServicesCredit counselling agencies can help you manage your debt, alleviate your debt-related issues, and improve your financial situation.
Debt ConsolidationConsolidating your debt involves paying off all your higher-interest loans and replacing them with one, single monthly payment. This simplifies debt management and helps save you money.
Debt Management Plans (DMP)A DMP involves having a credit counsellor negotiate with your creditors to come up with a more affordable plan to repay your debts.
Consumer ProposalA consumer proposal is a legally-binding solution that involves a Licensed Insolvency Trustee (LIT) proposing a new debt repayment plan with your creditors. This typically involves paying a portion of debts in installments, extending your payment term, or both.
BankruptcyBankruptcy is a legally-binding arrangement that is administered by an LIT and can reduce or eliminate your unsecured debt. This process will help stop collection calls and actions taken by your creditors to collect overdue payments and should only be considered as a last resort.

Bottom Line

Payday loans in Saskatchewan can provide you with quick financial relief in urgent situations, but they come with risks that should be carefully considered. Take some time to understand the terms of these short-term loans and make sure you can repay the loan on time to avoid additional fees and debt cycles. Always explore other options and use payday loans only as a last resort.


FAQs

How much can I borrow with a payday loan?

In Saskatchewan, you can borrow no more than $1,500 with a payday loan. Further, the maximum borrowing limit in the province is 50% of your net income. 

Can I take out another payday loan to pay off an existing payday loan?

No, “rollover” loans are not permitted in Saskatchewan. Only one payday loan is allowed at a time.
Yes, payday loans are legal in Canada, but they’re regulated by provincial governments to protect consumers. More specifically, there are rules that payday lenders must follow when it comes to fees, repayment terms, default consequences, and collection practices.

Can I cancel a payday loan without penalty?

Yes, you can cancel a payday loan in Saskatchewan without penalty as long as you do so before the end of the next business day.

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