If you’re in the market for the best loan apps, you’ll have noticed there are plenty of options out there. From small cash advances, payday loans, personal loans and more, it can be hard to sift through the noise and find the best fit for your needs.
No matter what kind of loan app you’re looking for, we’ve cut your workload down and provided a list of the best loan apps in Canada right now.
These are the best cash loan apps available for easy access to a small amount. Cash advance apps provide customers of all credit types with a small loan to cover emergency expenses before payday. You can get quick access to funds with easy application processes, and the best apps offer zero interest and minimal extra fees.
KOHO Cover offers users a convenient, interest-free cash advance service designed to help you manage your short-term financial needs without the fuss of a regular loan. Cover lets you borrow up to $250 instantly through the KOHO app, or you can withdraw funds from an ATM.
Why it's one of the best
No interest or credit checks. KOHO Cover provides cash advances with no interest charges, hidden fees or credit checks.
Flexible repayment. KOHO doesn't require you to pay within a specific time frame, and there are no late fees either.
Quick access to funds. Once you've got an account with KOHO and your request for Cover is approved, you'll have instant access to your funds—no waiting around.
No interest charges
No hidden fees
Fast funding
Requires KOHO membership plan &
Cover monthly fee
Limited to $250 maximum
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
Nyble is an online financial platform that provides interest-free lines of credit up to $250. You won't need a credit check to apply, and there are no late fees to worry about. This short-term loan will be automatically deducted from your account on your next payday, but you have the option to extend the deadline as much as you need to.
Why it's one of the best
No interest. Nyble provides customers with a genuinely interest-free short term emergency loan.
Accepts diverse income. You won't necessarily have to be employed to be approved, as Nyble accepts multiple forms of income to repay your loan.
Credit building. Repaying your Nyble loan on time can help improve your credit score.
No interest charges
No hidden fees
Easy to apply
Can improve credit score
$11.99 per month fee for instant transfers
Small loan amounts
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
Bree is a new entrant to the short-term loan market in Canada, having launched in 2021. The company specializes in emergency short-term loans intended to get you through to your next payday without going into the overdraft. These loans come with zero interest, but there is a fee for same-day funding which varies depending on your loan amount, as well as a $2.99 monthly subscription fee plus a transfer fee if you want express funding.
Why it's one of the best
Zero interest. Bree won't charge you any interest on your loan, and instant funding fees are optional.
Flexible loan amounts. Borrow as little as $20 and as high as $500, which is better than other cash advance apps.
No minimum income. Bree doesn't require borrowers to meet any minimum income levels to be approved.
Easy to apply
0% interest
No late fees
No credit check
$2.99 optional monthly membership fee for express funding plus transfer fee if you need instant funding
Smaller loan amounts than payday loans
Doesn't build credit
Costs
0%
Loan Amount
$20 – $500
Loan Term
Next pay cycle (90 days max)
Credit Check
No
Turnaround Time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and within 1 to 3 business days for standard delivery.
Requirements
You must have a bank account with regular income deposits and a Visa or Mastercard debit card with a CVV
Serviced Provinces
All provinces and territories
Apple App Store Rating
4.8
Google Play Rating
4.9
Store
Rating
Apple App Store
4.8 out of 5 stars
Google Play Store
4.9 out of 5 stars
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for long-term borrowing, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, consider calling Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
Best payday loan apps
If you’re looking for bigger loan amounts than those available through the cash advance apps above, you might find the right fit here. Payday loan apps are short-term loans that accept bad credit, just like cash advance apps. You can typically apply for higher loan funding, but you’ll also get very high interest rates.
iCash offers instant online payday loans of up to $1,500 with an easy application process. The entire process from application to funding can be completed in minutes.
Why it's one of the best
Instant approval. iCash uses an automated approval system that can have you ready to go in minutes.
Immediate funding. This lender is known for providing emergency loan funds via e-Transfer within 2 minutes of approval.
No hidden fees. It has a transparent fee structure with no surprises.
Instant funding
Fast application and approval
Transparent fees
High interest rates
Max loan amount may be limiting
Loan Amount
$100 – $1,500
Loan Term
7 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
Store
Rating
Apple App Store
4.8 out of 5 stars based on 21,000+ ratings
Google Play Store
4.8 out of 5 stars based on 34,000+ ratings, 500,000+ downloads
Wagepay provides a quick and easy way to access a portion of your earned wages before payday. Originally founded in Australia, the company has been operating in Canada since 2023. Wagepay offers fast, transparent payday loans with no credit checks and instant e-Transfer funding.
Why it's one of the best
No credit checks. Wagepay won't check your credit score to approve you.
Instant transfers available 24/7. Receive your loan funds via e-Transfer immediately after getting approved.
No late fees. Wagepay doesn't charge any late fees, and you can even postpone or divide your repayment once per advance.
No NSF or late fees
No credit checks
Instant funding
Fully digital
Free perks for loyal customers
Max funding is $1,500
Only available in BC and Ontario
Requires at least $400 in weekly income
Loan Amount
$100 – $1,500
Loan Term
Up to 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
BC, ON
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
No
Requirements
- Be at least 18 years old in Ontario or 19 in BC - You must live and work in Canada - You must be employed and receive a regular, consistent income from your employer of at least $400/week ($1,600/month) - You must leave enough of your income each pay cycle in your account to be able to repay an advance - You must have a generally good banking history
Money Mart is one of Canada's biggest payday and installment loan providers, specializing in providing quick cash loans.
Why it's one of the best
Fast approval. Money Mart offers approval within minutes of receiving your online application.
Accepts bad credit. Usually, a steady form of income and an acceptable amount of debt are more important than a bad credit score.
Large branch network. If you're into in-person service, Money Mart has an extensive physical presence across Canada.
Quick approval
Bad credit is okay
In-person service available
Funding within 24 hours (excl. weekends)
Very high interest rates
Short repayment terms
Watch out for additional fees
Loan Amount
$500 – $25,000
APR Range
34.56% – 34.95%
Loan Term
6 - 84 months
Serviced Provinces/Territories
AB, BC, MB, NS, NT, ON, PEI, SK, YT
Turnaround Time
Less than 1 day
Min. Credit Score
300
Fees
None
Requirements
- Be at least 19 years of age - Have an active chequing account - Have a steady source of income
Store
Rating
Apple App Store
4.7/5 based on 5,400 reviews
Google Play Store
3.6/5 based on 1,190 reviews
How we chose the best cash loan apps in Canada
We’ve chosen the best loan apps on this page based on the providers available through Finder and online in the Canadian loans marketplace. These loan apps are not representative of the entire market.
When choosing our picks for the best loan apps in Canada, we considered each lender’s rates, fees, terms, borrowing amounts, app ratings and availability, application process, funding speed, eligibility requirements, customer support and feedback, licences, accreditations and perks for borrowers. No single loan app will be the best choice for everyone, so compare your options before applying.
What are some other loan apps in Canada?
easyfinancial:easyfinancial is one of Canada’s largest alternative lenders. It offers personal loans, home equity loans, auto loans, point-of-sale financing and small business financing. Download the goeasy Connect app to apply for personal loans, make payments and access financial tools.
MoneyUp:MoneyUp is a mobile credit app that gives you access to a line of credit of –$1,000 for an advance fee of up to 2.5%. There’s no interest, no credit check required and funds are typically available instantly.
PAY2DAY:PAY2DAY provides online and in-store payday loans up to $1,500 in ON, BC, NS. Use the mobile app to apply for a payday loan 24/7, and if approved, you’ll receive an e-Transfer within one hour.
Credit Club:Credit Club offers a wide range of loan options, including payday loans in ON, BC and NS. Simply complete the application form on the app and you’ll receive a decision in as little as 30 minutes.
What’s the best app for a small loan?
It depends on your needs, but the cash advance app Nyble allows you to borrow $30–$250 at 0% with no added fees, making it a top app for a small loan. Its app has a 4.8 based on 743 ratings on Google Play and 4.8 based on 2,200 ratings on the Apple App Store.
Cash advance app KOHO is also one of the best. Its iOS app has a 4.8 rating based on over 81,800 reviews, and its Android app has a 4.3 rating based on over 71,200 reviews. KOHO offers instant cash advance funding of up to $250, with no income requirements.
What’s best for instant funding?
If speed is your top priority, Nyble stands out, offering instant access to up to $250 if you pay $11.99 a month for an optional membership. KOHO is also fast, allowing cash advances of up to $250 instantly. Payday lender iCash provides a larger amount, up to $1,500, with e-Transfers arriving within two minutes of approval.
What’s best for easy approval?
For a smooth and straightforward application process, check out KOHO, which only requires you to be the age of majority in your province or territory, a Canadian resident and have a KOHO account. There are no credit checks.
Nyble is also simple to qualify for: you need to be at least the age of majority in your province or territory, have a Canadian bank account and earn a minimum income of $1,000/month.
Bree offers bigger advances of up to $500, but you’ll need to pay a $2.99 monthly membership fee, have a Visa or Mastercard with a CVV and provide proof of consistent income.
iCash is a good choice if you prefer a traditional payday loan and don’t mind higher fees. You just need to earn at least $800 a month, be the age of majority in your province or territory and be a Canadian resident. It accepts many types of income, including EI, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance.
How to choose the best loan app for you
Compare fees and interest rates. Look for cash loan apps with competitive or low interest rates and a transparent fee structure.
Consider loan terms. Check for repayment flexibility, and make sure you can afford to pay off your loan in full within the term you’ve been quoted.
Read reviews. You should be able to find customer reviews online for most lenders.
Check eligibility. Depending on the lender you’re interested in, you may need to tick off some requirements by way of income, credit score and residency, among others.
Bottom line
Whether you need a small cash advance, an emergency payday loan or a more typical long-term personal loan, there’s a good range of easy loan apps to choose from in Canada. Use our list of the best loan apps in Canada to find the perfect fit for your situation.
Frequently asked questions
Some of the newest loan apps in Canada include Wagepay, KOHO and MoneyUp. Wagepay and MoneyUp launched in Canada in 2023, and KOHO Cover became available in 2021. Learn more about new payday loans.
You can borrow $20 from cash advance apps like KOHO and Bree.
The KOHO app (via Cover) allows you to borrow money instantly following approval. Other apps like Bree, Nyble and iCash also offer very fast loan funding times.
All the apps presented in this list are legitimate, but you can check business registrations in government databases and online third-party reviews, like those on Finder, for any loan app you find to ensure it's not a scam. Payday lenders should also be licensed, which you can verify through your province's official registry.
Steven Brennan is a freelance finance writer working from Vancouver, B.C. He has a BA and an MA in English Literature at the University of Ireland, Maynooth, and also spent time working in Italy and Vietnam as an English teacher. Today, he writes regularly on a range of personal finance topics including banking, loans, mortgages, insurance and tax. His work has appeared on sites such as LowestRates.ca and WealthRocket, as well as in print with Canadian MoneySaver.
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Rebecca Low is a writer for Finder. She has contributed to a range of digital publications, including income.ca, Indeed, and Expatden, writing on topics like personal finance, career development, and travel.
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Cash advance service Bree allows you to borrow up to $500 with no interest and no late fees.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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