$150 Loans: Compare Rates & Terms

If you’re searching for $150 loans in Canada, personal loan lenders unfortunately won’t be able to help because that amount is too small. But the good news is that there are other lenders where you can get a $150 loan, even if you have bad credit.

Check out these lenders offering quick $150 loans online.

• $150 loans that are not payday loans
• $150 payday loans

Get a $150 loan from a cash advance app

One option is to get a $150 loan from a cash advance provider. You pay no interest on these loans, but you may pay a monthly fee. Download the app or apply on their website.

Compare $150 payday loans in Canada

Apply online and get an instant decision from one of these direct payday lenders for $150 loans.

Where can I get a $150 loan now or the same day?

Options for instant $150 loans in Canada include payday loans like iCash and Money Mart and cash advances like Bree and Nyble. These lenders offer hassle-free online processes, and you can get your money instantly via e-transfer, which is faster than direct deposit.

If you prefer to get funds by direct deposit, apply in the morning to maximize your chances of getting the money the same day.

Related: Compare instant loans in Canada

What are the steps to get a $150 loan online?

You can apply for a $150 loan by completing these simple steps:

1. Fill out the application. Complete an online application form by providing your name, date of birth, contact details and income information.
2. Verify your bank account. Provide your bank account details for online bank verification. This allows the lender to assess your income and spending activity without requiring you to upload copies of bank statements or pay stubs.
3. Get a decision. Many lenders offer fast decisions within minutes.
4. Sign your contract. Once the lender sends you a loan agreement, make sure to review all details of the contract carefully before signing.
5. Get funded. You can get your money within a few minutes with e-transfer or within 24 to 48 hours with direct deposit.

Related: Best online loans

How much will a $150 loan cost me?

The cost of a $150 loan depends on these factors:

• The loan interest rate
• Any fees that apply
• Your loan term

To give you a better idea of how much your loan will cost, let’s take a look at the total cost of repaying three different $150 loan options.

$150 payday loan vs. $150 cash advance (instant delivery) vs. $150 cash advance (standard delivery)

Loan type	Interest rate	Repayment term	Total cost	APR
$150 payday loan	$14 for every $100 borrowed	14 days	$171	365%
$150 cash advance (instant delivery)	0% interest rate, $11.99 monthly subscription fee	2 months (assumption: you keep the subscription for 2 months)	$173.98	Equivalent to 97.25%
$150 cash advance (standard delivery)	0% interest rate, no fee	2 months	$150	0%

Where can I get $150 loans for bad credit?

You can get a $150 loan with bad credit from payday lenders like Wagepay or Money Mart, as well as cash advance providers like KOHO or Nyble. They’ll analyze your income and spending activity instead of your credit score.

A local credit union might offer a $150 loan, but payday lenders and cash advance apps are typically much more accessible for amounts this small. Credit unions also have stricter eligibility requirements, so check what criteria you’ll need to meet before you apply.

Must read: Guide to different bad credit loans

How to increase your chances of approval

If your credit score leaves a little to be desired, there are a couple of simple things you can do to boost your chances of getting approved for a $150 loan.

• Little to no NSF transactions. A history of NSF transactions on your bank account in the last 60 to 90 days indicates to a lender that you might struggle to make loan payments on time.
• Earn a steady income. Having a steady source of income makes it easier for you to afford loan payments. Income can come from employment or benefits, but lenders prefer employment.

Related: Best bad credit loans in Canada

What apps let me borrow $150?

There are two different types of apps that offer $150 loans in Canada. The first are cash advance apps, which provide you access to a small portion of your next paycheque with no credit checks and no interest charges. Your second option is to apply for a loan through a payday lender’s mobile app.

Check out these apps that let you borrow $150.

$150 loan apps

• Nyble. Nyble provides lines of credit of $30 to $250. There’s no credit check and no interest charges to worry about. However, there’s a $11.99 monthly subscription fee if you want instant transfers and other premium perks. Otherwise, you’ll have to wait 1-3 business days to receive funds. Nyble has an Android and iOS app.
• Bree. Bree is another pay advance service that offers interest-free loans of up to $750. There are no credit checks and it’s easy to apply, but a fee applies if you want your loan straight away. Android and iOS apps are available.
• iCash. iCash is a payday lender that offers fast loans through its Android and iOS app. It’s easy to apply and you can get funded in minutes, but be aware that payday loans are very expensive to repay.
• Money Mart. Money Mart offers payday loans of up to $1,500, and you can apply through the Money Mart app even if you have bad credit.
• Cash Money. Cash Money is a payday lender that offers loans within an hour. You can apply for a $150 loan via its Android or iOS app and get funded by e-transfer.

Can I get a $150 loan with no credit check?

Yes, you can get a no credit check $150 loan from lenders like KOHO, Nyble, Bree and Wagepay. These lenders will instead check your income, debts and expenses to make sure you can afford to repay what you borrow.

Just make sure you only ever apply to a legit lender. While there are plenty of above-board lenders that advertise no credit check loans, there are also some scammers out there. Research any lender before you apply, and make sure you can spot the signs of a loan scam.

Can I get a $150 loan with guaranteed approval?

Because $150 is a small loan amount, it’s generally easier to qualify for than a large loan. But that doesn’t mean you can expect guaranteed approval, as lenders will still need to verify your finances and ability to repay a loan before approving your application.

And be warned: promising guaranteed approval can potentially indicate a scam, so proceed with caution with any lender that does this. Learn more in our guide to guaranteed approval loans.

Bottom line

There are plenty of options to consider if you want a $150 loan in Canada. From payday and personal loans to cash advance apps, you can get funded even if you have bad credit. But watch out for high APRs and additional fees, and make sure you’re dealing with a real lender before you apply.

Frequently asked questions

• Can I get a $150 personal loan?

  It'll be difficult to get a $150 personal loan as most lenders have larger minimum loan amounts. However, you may be able to compare credit unions or alternative lenders to see if you may be able to access a small loan you'll repay in installments.

• How much will a $150 payday loan cost?

  Expect to pay up to $14 for every $100 borrowed.