Weekend Payday Loans In Canada

Financial emergencies always seem to happen at the worst times. So, if you’re in dire need of fast cash outside of typical business hours, where can you go? Thankfully, weekend payday loans are available.

Key Points

• Weekend payday loans are available from many payday lenders, both in-store and online.
• For maximum availability, online payday lenders may be best, as applications can be completed 24/7.
• Funding is available either through cash on site, or via e-Transfer online.
• Depending on the payday lender you work with, you may be able to access your funds within hours after loan approval.

Can You Get A Payday Loan On The Weekend?

Yes, you can get a payday loan on the weekend in Canada. Some payday lenders are open to the public on weekends. And even if you can’t find a physical payday loan store, plenty of payday lenders offer online payday loans that you can apply for at any time, day or night.  

In fact, online payday loans are even easier to get because funds can be made available via e-Transfer. 

Are You Eligible For A Weekend Payday Loan?

As easy as it may be to get a payday loan, there are a few basic requirements that you’ll need to meet if you want to apply for a weekend payday loan:

• Be at least the age of majority in your province or territory
• Be a Canadian citizen or permanent resident
• Have a phone number where you can be reached during business hours
• Have a steady source of income
• Have an active bank account

Where Can You Apply For A Weekend Payday Loan In Canada?

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Loans Canada

Amount

Up to $50,000

Rate

Prime to 35%

Term

3-60 months

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iCash - Payday Loan

Amount

Up to $1,500

Rate

$14 per $100

Term

Up to 62 days

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Available in seven provinces, iCash is an online source of fast, small loans that can be used for any emergency. Approved applications are processed within the same day and no documentation is required before the transfer of your funds. You can borrow up to $1,500 with iCash. Every time you pay the loan back following the agreed-upon deadline, you become a more reputable borrower. The increased trust allows you to borrow more each time. iCash uses a Trust Rating System, an algorithmic function that determines your merit as a borrower.

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AimFinance - Personal Loan

Amount

$100 – $1,000

Rate

29% – 35%

Term

9 – 24

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AimFinance is a financial service that provides small personal loans up to $1,000 to borrowers in Ontario and BC. The online application process is quick and easy, and funding is provided in as little as 24 hours. Loan terms range from 9 to 24 months, with interest rates ranging from 29% to 35%. AimFinance focuses on helping bad credit borrowers access credit without the need to undergo a credit check. So, if you have bad credit, you’re still eligible to apply.

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GoLoans - Installment Loan

Amount

$500 – $5,000

Rate

Up to 32%

Term

3 – 4

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GoLoans is a Canadian financial services company that offers online installment loans. The online application process can be completed in a few minutes, with funding available in as little as 2 hours or less after approval. GoLoans does not require credit checks and aims to help borrowers build their credit scores with timely payments. Repayment terms are flexible and range from 91 to 120 days or longer, depending on your needs. This flexibility makes GoLoans a convenient financial solution when you need fast cash and easy repayment terms.

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Wagepay - Payday Loan

Amount

$100 – $1500

Rate

$8 per $100 + 24%

Term

Up to 62 days

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Cashco - Personal Loan - Flex Loan

Amount

Up to $7,000

Rate

35%

Term

6 – 60

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Cashco Financial is a Canadian financial services company that offers short- and long-term loan options. Payday loans for up to $1,500 are available with no credit checks and instant approvals. Flex loans are available for up to $7,000 with loan terms of up to 60 months and flexible repayment options. Cashco is known for providing same-day funding, ensuring you have access to the money you need quickly.

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Captain Cash - Personal Loan

Amount

$500 – $750

Rate

23%

Term

3 – 4

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Captain Cash specializes in providing quick online cash loans to consumers of all credit types. You can get up to $750 and repay your loan over a term as long as 3 months or more. Same-day approvals are available when you apply during business hours and funds are sent via email money transfer. If you have bad credit, you’re still encouraged to apply, as no credit check is required.

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GoDay - Payday Loan

Amount

$100 – $1,500

Rate

$14 per $100

Term

14 days

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GoDay is an online payday loan lender that offers small, short-term loans up to $1,500. The application process is very quick and can be completed in as little as 5 minutes. You'll receive an instant decision once you submit your application, and funding can be accessible in as little as 1 hour. Their goal is to help Canadians in need of short-term financing access quick funds to cover last-minute expenses without the hurdles that typically come with traditional lending.

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Cash 4 You - Installment Loan

Amount

$1,000 – $15,000

Rate

34.37%

Term

9 – 60

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Cash4You is a financial services company that offers payday loans and installment loans. Payday loans are available for up to $1,500, and installment loans are available for up to $15,000. Cash4You provides an easy and efficient application process, which can be done either online or in-store. Loan applications can be approved very quickly and funding provided shortly after. Cash4You caters to consumers with varying credit scores, so bad credit borrowers may apply.

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Pay2day - Payday Loan

Amount

Up to $1,500

Rate

$14 per $100

Term

14 days

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My Canada Payday - Payday Loan

Amount

Up to $1,500

Rate

$14 per $100

Term

14 days

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My Canada Payday is a licensed payday lender specializing in short-term loans with fast approval and no credit checks, making them an ideal option for bad credit borrowers with urgent financial needs. Loans are available from $100 to $1,500, with funds available via e-transfer in as little as 15 minutes after approval.

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Speedy Cash - Payday Loan

Amount

$200 – $1,500

Rate

$14 per $100

Term

Next payday

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Speedy Cash is a financial services company in Canada that provides payday loans both online and in person. Loan amounts are available from $200 to $1,500, based on income. The application and approval process is straightforward, and no credit check is required. Once approved, you can receive the funds as quickly as 30 minutes later via e-transfer.

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How Do You Apply For A Weekend Payday Loan? 

Applying for a weekend payday loan is quick and simple. To apply, follow these steps:

Step 1: Find A Lender 

Your first step is to find a lender that lends in your province and offers weekend service. You can quickly find these lenders by using an online loan comparison website, like Loans Canada. 

Step 2: Complete The Application 

Fill out the lender’s application, whether in person or online. Make sure all fields are filled out and information provided is accurate. 

Documents Needed For A Payday Loan

Your lender may ask you for the following:

• Photo ID, such as a driver’s license or passport.
• Proof of income, such as recent pay stubs or bank statements.
• Bank account information for loan deposits and repayments.
• Proof of address, like a utility bill or lease agreement.

Step 4: Wait For Approval 

Many lenders provide very quick approval decisions, even on weekends. In many cases, you may get near-instant approval after applying.

Step 5: Get Funded

If approved, you should get access to your funds shortly after, often within minutes via e-Transfer.

Learn more: How Long Do e-Transfers Take?

Advantages & Disadvantages Of Weekend Payday Loans In Canada

Although a weekend payday loan can be a viable solution to your financial problems in the worst of times, they do have some risks, so check out this list before you apply:

Advantages Of A Weekend Payday Loan

Benefits of a weekend payday loan are as follows:

• Versatility: Weekend payday loans are typically deposited directly into your bank account as lump sums of liquid cash and can be used to pay any expense.
• Any Credit Accepted: If you have bad credit, you can still get approved for a weekend payday loan, as long as all other criteria are met.
• Online Availability: Most lenders also allow you to apply for a weekend payday loan entirely online. 
• e-Transfer Options: When you apply online, e-transfers allow you to receive your weekend payday loan quickly and conveniently, from almost any location.

Disadvantages Of A Weekend Payday Loan

While weekend payday loans can come in handy when you need fast cash, consider the following potential drawbacks:

• High Costs: Payday loans come with really high interest rates and fees, which is the number one reason why you should always consider all other options first.
• Small Loans: Depending on where you apply, you may only be able to borrow up to $1,500.
• Short Terms: Repayment terms are usually 62 days at most, which can make full repayment of the loan difficult, especially in one lump sum payment.
• Scamming: Unfortunately, there are many predatory lenders and scam artists lurking in the world of payday loans, which can lead to illegal rates, theft, and even identity fraud. 

Things To Consider When Applying For A Weekend Payday Loan

Whether you apply on the weekend or not, it’s clear that payday loans come with some serious considerations. So, before you take the next step, make sure to think about the following:

• Affordability: As mentioned, all weekend payday loans have extremely high service fees and interest rates.
• Repayment & Late Penalties: If you can’t pay back your weekend payday loan within 62 days (depending on your lender), you may be subject to late fees, extra interest, and even debt problems.    
• Hidden Fees: It’s also essential to read your weekend payday loan contract properly, as there may be suspicious fees and conditions hidden in the fine print.     
• Funding Times: Payday loans have short funding times, but it can take several hours or days to get your cash if you try to apply online outside business hours.
• Finding A Reputable Lender: Always pick a regulated payday lender with good reviews, a valid license, and an A+ rating from the Better Business Bureau (BBB).

Maximum Cost Of A $100 Payday Loan By Province

Up until recently, provinces had different rate caps on payday loans. However, recent changes to the payday loan fee limit regulations capped fees to $14 per $100 borrowed, except for Quebec, and the territories, which are set at 35% AIR. 

Learn more: What Are Payday Loan Interest Rates In Canada?

Thinking About Getting A Weekend Payday Loan In Canada?

If you’re looking to take out a weekend payday loan, it’s important to understand the costs and terms of the loan to ensure you’re able to repay it on time. Before you apply, be sure to do some homework on weekend payday lenders, particularly where you can find those who offer weekend payday loans. Keep in mind that while payday loans can be useful in emergencies, they also have significant risks, so you should only apply for one if you have no other choice and find a trustworthy lender.  

Additional Reading

How To Get A Payday Loan With A Prepaid Debit Card

How Do I Find A Payday Loan Near Me?

Can I Have Multiple Payday Loans At The Same Time?

Weekend Payday Loans Canada FAQs