8 Payday Loans & Cash Advances in Saskatoon

When you’re hit with an unexpected bill and might not have the funds to pay for it, a payday loan is a popular and easy way to get your hands on some extra cash. But payday loans in Saskatoon are very expensive, and they’re not your only option if you need a small, short-term loan.

Cash advance apps like KOHO, Bree and Nyble offer a much more affordable way to borrow. Keep reading to compare cash advance apps and online payday loans in Saskatoon and find a loan that’s right for you.

1. Speedy Cash

Speedy Cash Payday Loan

$14 per $100 borrowed

$100 - $1,500

Up to 62 days

All provinces except Quebec and PEI

View details Compare product selection Compare

loading

Why we like it Speedy Cash has been providing payday loans in Canada since 1998. You can apply online or visit the lender’s Saskatoon store in person, and you won’t need to pass a credit check to qualify for funding. If you’re approved, you can get your money by e-Transfer the same day, sometimes in as little as one hour. Pros & cons Pros Bad credit is OK Apply online or in store Get funded the same day 4.4/5 stars based on 10,000+ Trustpilot reviews Cons Expensive to repay Short repayment period

2. Cashco

Cashco Financial Payday Loans

$14 per $100 borrowed

$50 - $1,500

Up to 62 days

AB, BC and SK

View details Compare product selection Compare

loading

Why we like it Cashco Financial offers two options to borrowers in Saskatoon. The first is a payday loan, which Cashco offers with instant approval and no credit checks. The second is a personal loan known as the Flex Loan, which provides larger amounts, same-day funding, and the potential to build credit. Both loans are available to people with good or bad credit. Pros & cons Pros Choose a personal or payday loan Bad credit is OK Fast access to funds Flex Loan payments are reported to the credit bureau Cons Payday loans are expensive and have short repayment periods High APRs for the Flex Loan Admin fee may apply to Flex Loan

3. Cashmate

Cashmate

$14 for every $100 borrowed

$100 - $1,500

Up to 62 days

View details Compare product selection Compare

loading

Why we like it Saskatchewan-based Cashmate offers payday loans in Saskatoon with no credit check. You can apply for a loan online in a matter of minutes and enjoy fast access to your funds. Your loan repayment will then be automatically debited from your bank account on the due date, but you also have the option to pay it back early without penalty. Pros & cons Pros Saskatoon-based lender Bad credit is OK Easy to apply online in minutes Cons $400 limit for first-time applicants Very high cost of borrowing Short repayment period

4. Cash Money

Cash Money Payday Loan

$14 per $100 borrowed

$100 - $1,500

Up to 62 days

AB, BC, MB, NB, NL, NS, ON and SK

View details Compare product selection Compare

loading

Why we like it Cash Money has been providing loans to Canadians since 1992. It offers instant payday loans in Saskatoon, with the option to apply online. You can get pre-approved online without it impacting your credit score, and if you decide to take out a Cash Money payday loan, you can get funded in as little as 15 minutes. Please note that Cash Money used to have two locations in Saskatoon, but its loans are now exclusively online. Pros & cons Pros Established lender Instant decisions Fast access to funds 4.4/5 stars based on 7,700+ Trustpilot reviews Cons Very expensive Short repayment term

5. Money Mart

Money Mart Payday Loan

$14 per $100 borrowed

$100 - $1,500

1 - 62 days

AB, BC, NS, ON, SK and MB

View details Compare product selection Compare

loading

Why we like it Money Mart offers installment loans as well as instant payday loans in Saskatoon. You can borrow up to $25,000 with an installment loan, then repay it over a term ranging from 6 months to 7 years. If you opt for a Payday Boost instead, which is the brand name for their payday loan, you can borrow up to $1,500 and get it sent to your bank account within 24 hours. You also have the option to repay your loan early without penalty. Pros & cons Pros Get funded in as little as 24 hours Bad credit is OK Apply online or in store Choice of loan options 4.7/5 stars based on 6,000+ Trustpilot reviews Cons Short repayment period High cost of borrowing

loading

The cash advance apps below are alternatives you can apply for online. They can be a lot cheaper than payday loans.

6. KOHO

8.8 Great KOHO Cover

8.8 Great

0% + monthly fee from $2

$20 - $500

Flexible

Go to siteView details Compare product selection Compare

loading

Why we like it With a KOHO Cover cash advance, you can get instant access to up to $500. Bad credit won't stop you from getting funded, and you also don't need to meet a minimum income requirement to qualify. The money you borrow is immediately available through the KOHO app or from an ATM, and you can repay your advance at any time with no interest charges to worry about. Pros & cons Pros Get money instantly No credit checks or income requirement No interest charges Repay at any time Cons Maximum cash advance of $500 Monthly subscription fee for KOHO Cover Monthly KOHO plan fee may also apply

7. Bree

8.8 Great Bree Early Pay

8.8 Great

0%

$20 - $750

Next pay cycle

Refer a friend and get a $20 credit limit increase on your next withdrawal. T&Cs apply.

Go to siteView details Compare product selection Compare

loading

Why we like it When you apply for a cash advance of up to $750 from Bree, you can get funded for free. There are no interest charges to worry about, and transfers are free as long as you don’t mind waiting up to three business days to get your money. Instant transfers are available if you need fast access to cash and are happy to pay fees, and bad credit won’t stop you from getting funded. Pros & cons Pros Get a cash advance without paying any fees No interest charges No credit checks Instant decisions 4.8/5 based on 8,500+ Trustpilot reviews Cons $2.99 monthly fee if you want instant access to funds Extra fee applies to every instant transfer Maximum loan amount of $750 won’t suit everyone

8. Nyble

9.3 Excellent Nyble Credit Line

9.3 Excellent

0%

$30 - $250

31 days, extendable

Use code CFIND1J to get 500 extra points and a $5 higher approval. T&Cs apply.

Go to siteView details Compare product selection Compare

loading

Why we like it A small, 0% interest line of credit that could help you improve your credit score—that’s what you can expect when you apply for funding from Nyble. Credit lines of up to $250 are available, and you won’t need to pass a credit check or jump through any complicated hoops to qualify for funding. There are no late fees to worry about either, and Nyble reports your payment history to the credit bureau to help you build credit. Pros & cons Pros Apply in minutes No interest charges or late fees Could help you improve your credit score Instant funding available 4.8/5 stars based on 9,200+ Trustpilot reviews Cons Low maximum loan amount of $250 Late payments could hurt your credit score Monthly fee if you want an instant transfer

loading

What are the payday loan regulations in Saskatoon?

The maximum amount a lender can charge you when you take out a payday loan in Saskatchewan is $14 for every $100 borrowed. So if you borrow $500, it will cost you $570 to repay.

You can borrow up to $1,500, up to a maximum of 50% of your take-home pay. There’s also a cooling-off period of the next business day if you decide to cancel your loan, and the maximum loan term is 62 days.

Finally, lenders must be licensed to offer payday loans in Saskatchewan, so make sure your lender is licensed before you apply.

How do I get an instant payday loan?

If you’re looking for instant payday loans in Saskatoon, you have two options:

• Apply online. Some lenders approve and fund payday loans 24/7.
• Visit a payday loan store in person. If your lender operates physical branches, you can walk into a store to get a loan.

You’ll need to provide your personal information, contact details and proof of ID to apply for a loan. If applying online, you will also usually need to agree to instant bank verification (IBV), which allows the lender to electronically review your bank statements and confirm your income.

If you choose an online payday loan, your funds will be sent out within minutes by e-Transfer. If you apply in store, you will also have the option to receive your loan as cash.

Which payday lender has in-person locations in Saskatoon?

You have a few options to choose from if you want to apply for a payday loan in person. Check out the table below for details of lenders that operate branches in Saskatoon. We visited the Financial and Consumer Affairs Authority site to check whether these locations have a payday loan licence.

Which payday lenders in Saskatoon don’t perform credit checks?

You have the following options to choose from if you’re looking for payday loans in Saskatoon with no credit check:

• Speedy Cash
• Money Mart
• Cashmate
• Cashco

Rather than worrying about your credit score, they will assess your income to determine whether you can afford to repay your loan.

If you’re interested in alternatives, cash advance apps Nyble, Bree and KOHO also don’t perform credit checks.

How do I make sure a payday lender in Saskatoon is legitimate?

The most important thing you need to do to check whether a payday lender is legit is to search for it in the Saskatchewan Financial and Consumer Affairs Authority’s licensing database. Remember, lenders must be licensed to offer payday loans in Saskatchewan, so if you can’t find a lender in the database, look elsewhere for a loan.

There are a few other steps you can take to ensure that you borrow from a trusted company:

• Check reviews from customers on independent sites like Trustpilot or BBB.
• Check if the lender complies with Saskatchewan payday loan regulations.
• Make sure you can spot the red flags that could indicate a payday loan scam.

Are there alternative lenders that offer bad credit personal loans in person?

Yes, you can get a bad credit personal loan in person in Saskatoon. Check the table below for details of lenders with one or more branches in Saskatoon.

Where can I get help with my finances in Saskatoon?

Before you resort to a payday loan or take on any more debt, why not seek credit counselling to get help with your finances? You can access counselling for free, and a credit counsellor will take the time to assess your financial situation and offer advice on how you can take control of your debt and get back on track.

The Credit Counselling Society offers free credit and debt counselling services in Saskatoon. The society is a non-profit service and can help you find the best solution for your financial situation. Check out its Saskatoon contact details below.

Located in: The Two Twenty

Address: 220 20th St W Suite 105, Saskatoon, SK S7M 0W9

Phone: (306) 500-8104

Bottom line

There are several legit lenders worth checking out if you’re looking for payday loans in Saskatoon. But if you’re looking for a more affordable option than a payday loan, consider applying with a cash advance app.

Ultimately, make sure you compare a range of borrowing options before deciding where to apply.

Frequently asked questions

• Are there guaranteed online payday loans in Saskatoon?

  Saskatoon payday lenders have lenient eligibility criteria, so it’s generally easy to qualify for a loan.

  However, be wary of lenders that promise “guaranteed” approval. A reputable lender will first need to check your income to see whether you can afford a loan before they can approve your application, so advertising guaranteed online payday loans in Saskatoon could be a sign of a scam. Make sure you check that a lender is licensed and legit before you apply.

• How long does it take to get a payday loan in Saskatoon?

  Funding times vary between lenders, but the fastest lenders can approve and fund your loan in a matter of minutes. Lenders often use online bank account verification and automated approval systems to speed up the process, with loan funds typically sent out via e-Transfer.

• Which is better, a payday loan or a cash advance app?

  Both options have their pros and cons. If you’re looking for the cheapest way to borrow money, go with a cash advance app. Cash advances come with no interest and low or no fees, while payday loans cost $14 for every $100 borrowed. Cash advances also offer more flexibility when it comes to repayments.

  The main downside of cash advances is that they have low maximum amounts of $250 to $750. So if you want to borrow a larger amount, you can access up to $1,500 with a payday loan.

• Can I get an e-Transfer payday loan in Saskatoon?

  Yes. Several payday lenders offer e-Transfer payday loans in Saskatoon. Speedy Cash, Cash Money and Money Mart are three lenders that fund loans via e-Transfer.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Add to Preferred Sources

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

Tim's expertise

Tim has written 594 Finder guides across topics including:

• Banking
• Personal Loans
• Car Loans
• Stock Trading
• Cryptocurrency