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National Payday Loans review

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National Payday Loans
Loan Amount
$250 - $1,000
Turnaround Time
Within 30 minutes if your loan application is sent before 11:30am.
All information about National Payday Loans has been collected independently by Finder. Finder is not connected with National Payday products, and this page is not sponsored, endorsed or administered by, or associated with, National Payday. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.


Watch out for costly fees and consider other options if you're looking for a payday loan.

This provider calls its products payday loans, but their loan terms are between 90 and 180 days. Payday loans in Canada by law cannot exceed 62 days.

Consider another provider if you're looking for payday loans.


  • Fast approvals
  • Lenient requirements


  • Unclear product features
  • Costly

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How does borrowing from National Payday Loans work?

You can apply for a loan with National Payday Loans using a simple online application. Just follow the link below to fill out an online application and see if you qualify for financing. The company will then reach out to its lending partners to find a suitable loan option for you.

As a first time customer, you can receive anywhere from $250 up to a maximum of $1,000. Loans of up to $1,000 are available for returning customers.

The term of your loan will typically last for between 90 and 180 days. During this time, your funds will need to be paid back in 3, 6 or 12 installments, based on the frequency of your pay. You’ll also pay an high annual interest rates on any money you borrow, in addition to brokerage fees.

What are the benefits of a loan from National Payday Loans?

  • Easy application. You’ll be able to apply for a loan and get approved for financing in a couple of minutes.
  • Online service. You won’t need to visit a physical location or storefront to apply for your loan or get your money.
  • Fast deposits. You’ll usually be able to have your funds deposited on the same day or within a couple of business days. It can be even faster: Within 30 minutes if your loan application is sent before 11:30am.
  • Longer terms. You can pay your loan back over 3, 6 or 9 months, which can make your payments more affordable.
  • Unsecured loans. You won’t need to put up any collateral to secure your loan (so there’s no risk of losing assets).
  • Bad credit doesn’t matter. You’re still very likely to get approved for a loan, even if you’re struggling with bad credit.

What should I watch out for with National Payday Loans?

Taking out a loan with National Payday Loans also comes with a number of drawbacks that you should be aware of before you sign on the dotted line:

  • High fees and rates. The biggest drawback of this loan is that you’ll pay exorbitant interest rates and brokerage fees to borrow money.
  • Small amounts. You’ll only be able to qualify for a loan of up to $1,000, which isn’t ideal if you have large expenses to cover.
  • Automatic withdrawals. Your payments will be taken automatically from your bank account, which means you have to budget accordingly to avoid late charges.
  • Feeds into debt. If you’re not careful, taking out this type of loan can perpetuate a cycle of debt that’s difficult to get out of.

What should I know before I apply with National Payday Loans?

Eligibility requirements

To apply for a loan from National Payday Loans, you need to meet the following criteria:

  • Be at least 18 years old (or 19 in some provinces).
  • Be a Canadian citizen.
  • Be able to receive payment by direct deposit.
  • Have 6+ months of stable employment.

Required documents and information for National Payday Loans

  • Proof of ID. You’ll need to show two pieces of ID to prove your identity if you want to qualify for a loan.
  • Banking statements. You may be required to submit 90 days of banking history so National Payday Loans can assess your ability to repay.
  • Pay stubs. You’ll have to provide three pay stubs to prove that you have steady employment and a regular income.
  • Void cheque. You’ll need to include a direct deposit form or void cheque to facilitate withdrawals from your account.

How to apply for National Payday Loans

If you think you meet all the eligibility criteria and you’re ready to get started with your loan application, you just need to follow the steps below:

  1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and negotiate the terms of your loan if you meet the eligibility requirements.
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call 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.

Compare payday loans

Check the websites of any lenders you’re interested in to confirm they operate in your province or territory of residence.

1 - 3 of 3
Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces Offer Table description
iCash Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer®
Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. 24/7 instant approval and e-Transfer funding. Income of at least $800/month required.
Money Mart Payday Loan
$120 - $1,500
1 - 62 days
Varies by province
As little as 1 hour after getting approved
To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer®
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.
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
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 $17 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

Bottom line

National Payday Loans offers loans up to $1,000, depending on your income. Just keep in mind that these loans come with high interest rates and brokerage fees and aren’t suitable for long-term use. Find out how much you can qualify for and fill out your application to get started today.

Frequently asked questions about National Payday Loans

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