Get a $100 payday loan in Canada

If you don’t have a good credit score or you need to take out a $100 loan fast, a payday loan is an option. You can apply for payday loans by visiting a store in person or applying online. Depending on the lender, you can get a $100 payday loan in less than an hour after approval.

Compare $100 payday loans online

Sort by:

Name	Product	Loan Amount	Loan Term	Interest Rate	Turnaround Time	Serviced Provinces	Offer	Table description
Cash Money Payday Loan Cash Money Payday Loan		$100 - $1,500	5 - 40 days	Varies by province	As little as 15 minutes with INTERAC e-Transfer	BC, NL, NS, ON, SK	Apply for your first $300 payday loan at a $20 cost (excludes SK applicants).	Instant decision and e-Transfer funding. Income of at least $1,000/month required.	Go to site View details	Compare	loading Fetching your data...
iCASH Payday Loan iCASH Payday Loan		$100 - $1,500	7 - 62 days	Varies by province	As little as 2 minutes with INTERAC e-Transfer	AB, BC, MB, NB, NS, ON, PEI	Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.	24/7 instant approval and e-Transfer funding. Income of at least $800/month required.	Go to site View details	Compare	loading Fetching your data...

loading

CompareClear

How to get a $100 payday loan in Canada

• Compare legit lenders. Since most payday loans are for small amounts of money, anywhere from $100 up to $1,500, there are plenty of different lenders to choose from. But be sure to go with a legitimate lender.
• Review the eligibility criteria. Most lenders will require you to have a functioning bank account and a regular source of income before approving your application. Go through the list of eligibility requirements before you apply for the $100 cash advance in Canada.
• Visit the lender’s website. Visit the lender’s site by clicking the “Go to site” button once you’ve decided which $100 loan to apply for. There, you can review the final fees and loan terms on the official website before submitting your application. You’ll need your personal, employment and banking details on hand to verify your identity and income.
• Wait for approval. $100 payday loan approval times can vary, from just minutes up to two business days. This usually depends on the lender and whether you apply in person at a store or online. Expect to hear from the lender whether or not they approve your loan application.
• Get financed. Once you’ve been approved for your loan, your money should be deposited into your account within minutes to one business day.

How much do $100 payday loans cost?

The actual amount you’ll pay for a $100 cash advance in Canada will depend on how much you borrow and the province or territory you live in. By law, most lenders in Canada can charge anywhere from $14 to $17 for every $100 borrowed for a payday loan – however the costs will likely be higher in the territories.

Let’s say you borrow a $100 payday loan in Ontario for the two weeks leading up to your payday. Since Ontarian lenders can charge a maximum $15 per $100 borrowed, you’ll end up paying back $115 from your paycheque. That translates to a whopping 391% APR. For comparison, credit card interest rates tend to range around 20%.

All 10 provinces have legislation at the provincial level, while the 3 territories – Yukon, Northwest Territories and Nunavut – are still patiently waiting, and instead have federal regulations. Learn more about payday loan regulations.

Are you eligible for a $100 cash advance in Canada?

You can generally get a $100 payday loan if you meet the following criteria:

• Age. You must be at least 18 years old, or the age of majority in your province or territory.
• Employment. Some lenders will require you to be employed and have a steady income, but you may find a lender who will consider you if you’re unemployed. Casual and part-time workers may also be eligible for $100 loans.
• Income. You’ll need to be earning some sort of income to be eligible for a $100 loan in Canada. Some lenders may have a minimum of how much you need to earn, or proof that you can pay back the amount you’ll borrow plus interest and fees, while others will only need to see proof of a steady income from the last three months.
• Welfare. You can still get a loan if you receive welfare payments. Keep in mind there may be other eligibility requirements that you’ll need to meet, such as your loan repayments not exceeding more than 50% of your welfare income.
• Credit history. Even if you have bad credit or have filed for bankruptcy, you can still get a loan. Your interest rates and other terms and conditions will likely vary for loans that people with good to excellent credit receive.

Are there any $100 loans for bad credit applicants?

Yes, people looking for $100 loans with bad credit history still have options through payday loans. These loans tend to come with minimal eligibility requirements, like low minimum credit scores or even no credit checks.

Keep in mind that loans with lower eligibility requirements tend to cost more overall. Payday loans especially are some of the most expensive loans you can get in Canada. So make sure you can afford the repayments before signing on the dotted line.

Can I get a guaranteed $100 loan in Canada for bad credit?

Be extra wary when you encounter a lender promising $100 guaranteed loans for bad credit or 100% approval for payday loans. A legitimate lender would not be guaranteeing approval on a loan especially if you have bad credit.

They would first examine your personal factors to see if you are able to repay your loan, such as your income sources, employment information and credit history. If you have bad credit and are seeking a $100 cash advance in Canada, be sure to choose a lender who takes a responsible approach. Compare legit payday loans.

If you see a lender promising 100% loan approval, you may be looking at a scam. Learn more about payday scams.

Questions to ask before applying for a $100 cash advance in Canada

There are some important factors that you should take into account before taking out a $100 payday loan.

• When do you have to pay the loan back? Provincial or territorial laws may dictate when you have to pay the $100 cash advance back. Other factors that can influence this is your income and current financial situation. You will typically have two to four weeks to pay back a payday loan.
• What are the fees and charges? Lenders may charge financing fees or monthly fees in addition to the interest rate. They can charge you late/missed payment fees and fees if you go into default. If you think you’ll have any problems repaying your loan, you may want to reconsider applying for it.
• What is the interest rate? Payday loans are extremely expensive and have very high APRs.
• Is there repayment flexibility? Lenders may offer different repayment methods, including direct debit payments or in-store payments. Some lenders will charge you more money if you choose to repay your cash advance early, so make sure you understand the terms and conditions of the loan.
• What is the reputation of the lender? The Internet has given rise to a number of online lenders, so find out if the $100 loan lender is legitimate and trustworthy before you apply for and accept the loan.
• What do you need the loan for? Identifying why you need the extra money will help you narrow down your search. If you’re looking to borrow money for a car, whether new or used, you can look for a secured loan. If you need the money to cover an emergency, like a bill that is due, find a $100 payday loan lender who can get you the money as soon as possible.
• What repayments can you afford? The interest rate and fees you’re paying will affect your repayments, as will the terms you select for your $100 cash advance loan.

Pros and cons of payday loans

What you should know before taking out a $100 cash advance in Canada?

There are a few things you should know about $100 payday loans in order to understand if it’s the right financial help you need.

First, you should generally only take out a payday loan in emergency situations because this type of $100 loan is typically a one-time solution. If you have structural financial problems that cause you to have difficulty repaying debts, you should consider credit counselling or another form of financial assistance, as payday loans could spiral your debt further.

Second, you’ll want to make sure you can repay your payday loan in a timely manner. Missing the due date on your repayment will result in additional charges. Avoid digging yourself into a deeper financial hole by taking on debt you can’t afford.

Third, before accepting a $100 cash advance in Canada, be sure to read the lender’s terms and conditions carefully. It’s important to read the fine print so you know exactly what you are paying and when it is due.

Frequently asked questions about $100 payday loans

• Can I repay my $100 loan early?

  This will likely depend on the individual lender. That said, it's common for payday loan lenders to allow you to payoff your loan early. When reviewing your loan contract, be sure to voice this question as some payday loan lenders charge extra fees for early repayment of loans.

• How long will it take for me to receive my $100 payday loan?

  Once approved, $100 payday loans are usually deposited into your bank account within minutes through Interac e-transfer. Some lenders will transfer money to your bank account the next business day. Ultimately it depends on the lender and your bank. If you need a $100 loan fast, check out our guide to the best emergency loans in Canada here.

• Will a late payment on my $100 loan affect my credit?

  Payday loan lenders don't typically report loans to the two credit bureaus in Canada, Equifax and TransUnion. However, if a missed payment is sent to a collections agency, it could be reported to the credit bureaus, which would then negatively impact your credit score.

• What happens if I know my $100 payday loan payment will be late?

  The best solution is to contact your payday loan provider and inform them. The lender may be willing to extend the payment deadline or find ways to help you through difficult financial times. Try to keep an open line of communication between yourself and the lender.

• Are there $100 online loans?

  Yes, there are $100 online loans, which are most likely payday loans. Other types of loans, such as personal loans, vehicle title loans and installment loans, usually have minimum loan amounts that start at around $500. You can apply for $100 cash advance in Canada online and get funds quickly (usually within 60 minutes) after approval. Payday loans, however, are extremely expensive and should only be a last resort. Compare your $100 online loan options here.