Online payday loans that accept disability income

If you’re looking for loans for people on disability, you have options. Payday loans are by far the most common, and there are payday loans that accept disability income in Canada, even some no credit check options. But they are extremely expensive and should be a last resort.

Browse your options for disability loans and learn about key factors to consider before applying.

Online payday loans that accept disability in Canada

The lenders below accept disability income and offer e-transfer funding.

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

Features of online payday loans that accept disability in Canada

• Quick. You can apply for a payday loan using your disability income in less than 10 minutes, get instant approval and get e-transfer funding within minutes after approval.
• Expensive. It’ll cost you between $14 to $25 for every $100 borrowed, depending on your province or territory.
• Small loan amounts. Borrow between $100 and $1,500.
• Short loan terms. Payday loans need to be repaid by your next payday. However, if you’re in Alberta, you have a minimum loan term of 42 days.
• Bad credit is okay. If your credit score is below 560, you are still eligible.

Can you get disability loans with no credit check in Canada?

Yes. Some payday lenders in Canada do not do credit checks for disability loans and hone in on your income instead. You’ll usually need to show them that you have recurring disability income by providing access to your bank statements. If you prefer to get a disability loan with no credit check, make sure you go with a legitimate payday lender in Canada, and watch out for payday loan scams.

Money Mart is an example of a legitimate payday lender that offers disability loans with no credit check in Canada.

Eligibility requirements for online payday loans that accept disability

Exact requirements vary among lenders, but generally you need to:

• Be the age of majority in your province or territory (18 or 19 years old)
• Be a Canadian citizen or permanent resident
• Have a steady source of disability income
• Have an active bank account

How to compare disability payday loans

• Funding options offered. You can get your disability payday loan via e-transfer, direct deposit, prepaid debit card or cash in-store, but not all lenders offer all these options.
• Speed and availability. If speed is crucial, or you need an emergency loan, choose a payday lender that can give instant approval and e-transfer funding within minutes after approval. If you’re applying outside of regular business hours and you need your disability payday loan fast, you may want to choose a lender that offers e-transfer payday loans 24/7.
• Reputation. Read reviews from people who have taken out a payday loan from the lender. Watch out for a pattern of complaints.
• Accepts disability income. Check first that the lender accepts disability income, because not all lenders accept it. Some payday lenders may not accept government disability benefits but accept private disability income, while others may not accept any kind of disability income.

• Lenders that do not accept disability

  To help you save time and effort, below is a list of lenders that do not accept disability:

  • Mr. Payday does not accept government disability income, but it accepts private disability income.
  • Pay2Day does not accept disability income.
  • Focus Cash Loans does not accept government disability income.
  • Speedy Cash does not accept disability income.

Compare online payday loans for disability

Before you take out a disability payday loan

• Know how much it costs. Payday loans are one of the most expensive ways to borrow money, with annual percentage rates (APRs) in the triple digits.
• Know your rights as a borrower. Each province has its own rules about payday loans, such as maximum borrowing fees, fees for missed payments, cancellation period and loan extensions. Choose a licensed payday lender that follows them.
• Ensure you’ll have enough income left. Before taking out a payday loan, check first that you’ll have enough disability income left over to pay for other debts and expenses once you repay your loan.

Other loans for people on disability

Payday loans are not your only option for disability loans in Canada. Some lenders of installment loans and lines of credit can accept disability benefits as a form of income.

• Installment loans. These are a type of personal loan offered by online lenders that have smaller loan amounts, higher interest rates and more flexible requirements than traditional personal loans. Jump to installment loans.
• Lines of credit. With a line of credit, you can borrow up to a limit. You get an open term where you can pay off all or part of the loan whenever you like. Jump to lines of credit.

Online installment loans that accept disability

If you decide that a payday loan is not for you, here are installment loans for people on disability.

Sort by:

Name	Product	Interest Rate	Loan Amount	Loan Term	Requirements
Loans Canada Installment Loan Loans Canada Installment Loan		8.00% - 46.96%	$500 - $50,000	4 - 60 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...
LoanConnect Installment Loan LoanConnect Installment Loan		32.00%	$500 - $2,500	3 - 6 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...

loading

CompareClear

Features of installment loans for disability income

• Interest rates. Rates are typically between 18% and 46.96%. How much you’ll be offered will depend on personal factors like your credit score, income and debts.
• Pay in installments. You’ll make equal payments to your lender over a period of time.
• Loan amounts. The range is usually $500 to $5,000.
• Loan terms. Term lengths last between 6 and 60 months.
• No prepayment penalties. You can usually pay off your installment loan early without facing any fees.
• Bad credit is considered. If your credit score is below 560, you could still be eligible for an installment loan.
• Disability income is okay. Not all lenders accept disability income, so check the lender’s requirements before you apply.

Important: An installment loan is a different product from a payday loan, but they are often offered by the same lender. When browsing your options, watch out for lenders that are promoting payday loans as an installment loan.

Lines of credit for people on disability

Compare lines of credit from online lenders that accept disability income.

Sort by:

Name	Product	Interest Rate	Loan Amount	Loan Term	Requirements
LoanConnect Line of Credit LoanConnect Line of Credit		19.99% - 46.96%	$500 - $50,000	3 - 120 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...
Loans Canada Line of Credit Loans Canada Line of Credit		9.90% - 21.50%	$5,000 - $35,000	6 months - 5 years	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...
Cash Money Line of Credit Cash Money Line of Credit		46.93%	$500 - $10,000	No end dates	Requirements: min. credit score 560	Go to site View details	Compare	loading Fetching your data...
MogoMini Line of Credit MogoMini Line of Credit		47.42%	$1,000 - $3,500	No end dates	Requirements: min. income $13,000/year, min. credit score 500	Go to site View details	Compare	loading Fetching your data...

loading

CompareClear

Features of lines of credit that accept disability

• Loan amount. Borrow as much or as little as you need up to a limit.
• Open term. Make the interest payments and pay off the loan partially or in full any time without penalty.
• Potentially cheaper than a payday loan. For example, Mogo claims its MogoMini line of credit is up to 88% cheaper than a payday loan.
• High interest rates. Even though online lines of credit are potentially cheaper than payday loans, they still have a high interest rate, and if you wait too long to pay off the balance, you can end up paying more than a payday loan.
• Bad credit is considered. Check the lender’s minimum credit score before you apply.
• Disability income is okay. Not all lenders accept disability income, so be sure to check the requirements before applying.

Can I get a loan with bad credit and on disability?

Yes, it is possible to get a loan with bad credit while receiving disability. One of the easiest bad credit loan options for people on disability is a payday loan. However, since payday loans are some of the most expensive in Canada, consider other options first like installment loans or line of credits. Some lenders for these types of loans tend to have more lenient eligibility requirements compared to personal loan providers.

Questions to ask before you get a loan using your disability benefits

Before you apply or sign on the dotted line, ask these questions:

1. Can I afford it? Are you aware of how much the loan will cost you, and how it’ll fit into your budget?
2. Is the lender legitimate? Make sure you apply to a licensed lender that’s transparent about how much the loan will cost you. Read reviews from people who’ve taken out a loan from the lender.
3. Is the lender pressuring me? If the lender is putting high pressure on you to sign a contract with them, you may want to try another lender.
4. Do I know the payday loan regulations of my province? This is to protect yourself as a borrower from illegal practices.
5. Have I considered alternatives? Before you apply, consider alternatives to payday loan.

Will getting a loan affect my disability payments?

No, loans aren’t considered income and usually don’t count against your disability payments. However, there are two situations which could affect your payments:

• You receive money as a gift. If you’re given money you don’t have to repay, the government considers it a gift and counts it as an asset. This could put you over the resource limit for individuals and make you ineligible for benefits that month.
• You don’t spend your loan money right away. If you take out a loan, you usually need to spend it within the month you receive the funds. Anything left over may count toward your resource limit, which means you may become ineligible for benefits.

In these cases, make sure you aren’t going over your individual resource limit. Only borrow as much as you need to avoid taking on too much debt or having too much in the bank when your resources are counted for the month.

Will I be charged higher rates because I have a disability?

Lenders aren’t legally allowed to discriminate against you for having a disability. The rate you’re charged will be based on all facets of your loan application including the total income you make (which could include other sources you have besides disability payments), your credit history and other factors.

If your income is minimal and you have fair or below average credit, you’ll be considered higher risk to lenders and will likely be charged a higher rate to make up this.

More alternatives for people on disability benefits

• Other loans for people on disability benefits

  With provincial disability payment amounts fixed and limited, you might think payday loans are your only option. But you could find financing through one of the options below. Check with any lender you’re interested in to make sure you’re eligible before applying.

  • Home equity loans. Are you a homeowner? You may be able to borrow against your home’s equity through a home equity loan or line of credit. This is a secured loan — meaning you use your house as collateral — but it often comes with more lax eligibility criteria than an unsecured personal loan.
  • Credit card cash advances. This may be an option if you already have a credit card and haven’t borrowed up to your credit limit. Credit card cash advances have lower rates than payday loans, with APRs usually around 23% plus a 5% fee of the borrowed amount. If you already have a credit card, getting a credit card cash advance for a disability loan will not require an additional credit check.
  • Vehicle title loans. Use your car as collateral to get a loan. This type of loan has flexible requirements, but it also has steep rates.

• Other ways to get some extra cash

  You aren’t limited to borrowing when you’re on disability and need extra funds. Grants and benefits are other options to consider — and the best part is you don’t have to repay them.

  For example, if you need money to buy assistive devices or make your car or home more accessible, you may qualify for government funding or grants from private companies (for example, some car manufacturers offer special offers for those who need to modify their vehicles for accessibility purposes).

  Here are a few resources to get you started:

  • Canada Grant Watch. Search for disability grants by category and eligibility type, plus find resources to learn more about how they work and ways to increase your chances of approval.
  • Canadian Pension Plan (CPP) Disability Benefits. If you’re under 65 years old and you were able to work and pay into your CPP for a time but are no longer able to work due to a disability, you may be eligible for this benefit from the federal government.
  • Registered Disability Savings Plan (RDSP). This is a government-matching program that’s designed to help you save long-term for a person who is eligible for the disability tax credit.
  • Canada Student Grant for Students with Permanent Disabilities. If you’re a student with a disability in a designated post-secondary institution you could be eligible for grants to help you towards your education.

Bottom line

You have many choices in online payday loans that accept disability income. Payday loan lenders tend to accept bad credit borrowers, and some even offer disability loans with no credit check in Canada. Less expensive loans for people on disability include installment loans and lines of credit.

Before signing on the dotted line, research the lender, understand the cost of the loan and make sure you have the money to pay it back.

Frequently asked questions

• Can people on disability get a payday loan?

  Yes. Payday loans tend to have flexible eligibility requirements. As long as you have a steady source of income – and this includes disability income – payday lenders can consider you.

• How do you know a payday loan that accepts disability is legitimate?

  The payday loan space is known to be predatory. A few things you could do is to check for a business licence, check that the lender abides by the provincial regulations, read reviews, look for BBB accreditation and find its contact information. Look for transparency. The lender should not only be upfront about fees, but it should also be upfront about the product it's selling. It should be clear that it's a payday loan with APRs in the triple digits.

• Can you take out a loan on disability?

  It's possible. Some lenders can accept disability as form of income. Loans you can apply for are payday loans, installment loans, lines of credit and vehicle title loans. These are all expensive loans, so make sure you can afford to repay a loan before getting it.

• Are there payday loans with e-transfer and disability approved?

  Yes, there are payday loans with e-transfer and disability approved. E-transfer is the most common funding method for online payday lenders. However, disability income is not as widely accepted as other forms of non-employment income (such as the child tax credit and EI), so make sure the lender you choose accepts disability before you apply.