If you’re a recipient of the Assured Income for the Severely Handicapped (AISH) and you’re looking for a payday loan, there are some lenders that accept this benefit as your sole source of income to help you qualify. But keep in mind that while AISH payday loans are convenient and easy to access, they should be used as a last resort option because of their sky-high fees and quick repayment terms.
This guide covers payday lenders in Alberta that accept AISH as well as other loans you can get.
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Payday loans are quick to get, often offering instant approval and funding. They are a very expensive option though, so only consider them as a last resort.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Payday Loan | Varies by province | $100 – $1,500 | 7 - 62 days | 24/7 instant approval, e-Transfer, accepts bad credit and AISH | |
 Payday Loan | Varies by province | $120 – $1,500 | 1 - 62 days | Instant approval, e-Transfer in as little as 15 mins, accepts bad credit and AISH |
| Province | Max. cost of borrowing a $100 payday loan | Cooling off period to cancel loan | Max. penalty for returned cheque or pre-authorized debit |
|---|---|---|---|
| Alberta | $15 | 2 business days | $25 |
| British Columbia | $15 | 2 business days | $20 |
| Manitoba | $17 | 48 hours excluding Sundays and holidays | $20 |
| New Brunswick | $15 | 48 hours excluding Sundays and holidays | $20 |
| Newfoundland and Labrador | $14 | 2 business days | $20 |
| Nova Scotia | $15 | Next business day (2 days for online loans) | $40 (default penalty) |
| Ontario | $15 | 2 business days | $25 |
| Prince Edward Island | $15 | 2 business days | N/A |
| Quebec | Limit of 35% AIR | N/A | N/A |
| Saskatchewan | $17 | Next business day | $25 |
The Canadian lenders below accept AISH as valid income.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Installment Loan | 8.00% - 46.96% | $500–$50,000 | 4 - 60 months | Loan search platform, largest lender network | |
 Installment Loan | 8.99% - 46.96% | $500–$2,500 | 3 - 6 months | Loan search platform, pre-approval in 5 minutes | |
Line of Credit | 19.99% - 46.96% | $500–$50,000 | Open | Loan search platform, pre-approval in 5 minutes | |
 Installment Loan | 29.78% - 44.80% | Up to $1,600 | Up to 36 months | Direct lender, accepts any recurring income | |
Line of Credit | 9.90% - 21.50% | $5,000–$35,000 | Open | Loan search platform, largest lender network | |
 Line of Credit | 47.42% | $1,000–$3,500 | No end dates | Quotes in 3 minutes, flexible eligibility requirements | |
 Line of Credit | 19.90% - 46.90% | $1,000–$10,000 | Open | Apply online, same business day funding available |
These providers offer small cash advances for social assistance recipients. There are no credit checks. You pay no interest on these cash loans, but you may pay a monthly subscription fee. Another nice perk is that you can apply online within minutes.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Early Pay | 0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance) | $20 – $350 | Next pay cycle (61 days max.) | A fee applies if you want an instant transfer, no credit check, no late fees | |
 Credit Line | 0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding | $30 – $150 | 30 days, extendable | Instant approval and funding within 30 minutes for a small fee, no credit check | |
 Cash Advance | 0% interest with a subscription fee starting at $2/month | $20–$250 | Flexible | Easy application, fast funding |
Yes, you can, but you’ll need to find a lender that accepts it as your source of qualifying income. Disability income from the government is one of the least accepted forms of income among payday lenders. You may also only be approved for smaller loan amounts.
Before you apply for a payday loan, check first that the lender accepts AISH and that your AISH income meets the lender’s minimum income requirements.
AISH payday loans are identical to regular payday loans in Alberta. Their only difference is borrowers qualify for a payday loan using AISH as their income instead of employment income. Overall, AISH payday loans come with these key features:
Payday loans come with their fair share of notoriety. Every Albertan considering a payday loan must be aware of these red flags:
According to the province’s Consumer Protection Act, you’re required to repay the loan in installments instead of a lump sum. Because AISH is paid out monthly, you can anticipate repaying your loan in at least 2 installments. On the flipside, you can also repay the full amount early without any penalties.
There are a handful of ways you can repay your loan, including the following:
You can protect yourself as a borrower by getting familiar with your rights when taking out a payday loan in Alberta. Here are some more key rules you should know:
| Month of assistance | Payment date | Days between payments |
|---|---|---|
| July | June 25, 2024 | 27 days |
| August | July 26, 2024 | 30 days |
| September | August 27, 2024 | 31 days |
| October | September 2024, 2024 | 27 days |
| November | October 28, 2024 | 33 days |
| December | November 26, 2024 | 28 days |
Payday lenders typically schedule repayments on the day you receive your income. But keep in mind that in Alberta lenders must give you a minimum of 42 days to repay your loan, and you must be allowed to break up your payments into installments.
Treat payday loans as a last resort tool if you’re in a financial pinch. If you’re thinking of other options, consider these:
If you’re on the fence between payday loans and credit card cash advances, here’s a closer look at the cost breakdown for both for a $500 loan:
| $500 payday loan | $500 credit card cash advance | |
|---|---|---|
| Loan term | 42 days | 42 days |
| Interest rate | $15 for every $100 borrowed (130% APR) | 23% APR + 5% fee |
| Total loan cost | $575 ($75 interest) | $538 ($38 interest) |
If your only source of income is AISH, it’s possible to apply to a payday lender that accepts AISH as income. Make sure that you have proof this is a steady source of income you can use towards repaying your payday loan, and consider alternatives, such as installment loans and cash advances, before getting a payday loan.
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