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Get a $600 loan

Get approval and funding on the same day with these payday loans and installment loans.

If you need a $600 loan in Canada, you can get a payday loan or installment loan. Payday loans are small loans that you typically repay by your next payday. Installment loans are usually larger loans that you repay in equal installments. Both are fast options that you can get within a few hours. They come with high interest rates and lenient eligibility requirements, with payday loans being the more expensive option.

⚠️ 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 $600 payday loans

1 - 4 of 4
Name Product Loan Amount Loan Term APR 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
24/7 instant approval and e-Transfer funding.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. Income of at least $800/month required.
GoDay Payday Loan
$100 - $1,500
Up to 62 days
Varies by province
As little as 2 minutes with Interac e-Transfer
To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.
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.
More Info
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer®
Instant decision and e-Transfer funding. Income of at least $1,000/month required.
More Info
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 $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

Features of $600 payday loans

  • Loan amount. While you can get a $600 payday loan, amounts can range anywhere from $100 to $1,500.
  • Loan term. They’re typically repaid in full by your next payday, up to 62 days.
  • Borrowing fee. They cost between $14 to $17 for every $100 borrowed, depending on your province or territory.
  • Fast and convenient. Thanks to flexible eligibility requirements and an automated application processes, you can get a $600 payday loan within 1 to 2 hours of applying.
  • Regulated by each province. Each province has its own regulations for payday loans.

Am I eligible for $600 payday loans?

The basic requirements for payday loans include the following:

  • Be the age of majority in your province (18 or 19).
  • Be a Canadian resident.
  • Have a recurring income.
  • Have an active bank account.

Can I get a $600 payday loan with bad credit?

Yes. Payday loans are one of the easiest loans to get because rather than looking at your credit score, payday lenders focus on your income, whether that’s from employment, benefits or pension. You’ll need to show proof of a stable income to get approved.

What to watch out for with $600 payday loans

  • Extremely expensive. While payday loans are easy to get, they’re one of the most expensive ways to borrow money, with annual percentage rates (APRs) in the triple digits.
  • Income shortage on the due date. Before taking out a payday loan, make sure you’ll have enough income left to pay for other debts and expenses once you repay your loan.
  • Disreputable lenders. Check that the lender you’re interested in is licensed in your province and follows all payday loan regulations.

Compare $600 installment loans

1 - 6 of 6
Name Product Ratings APR Range Loan Amount Loan Term Broker Compliance Requirements
Spring Financial Installment Loan
Finder Score:
Customer Survey:
10.80% - 46.99%
$500 - $35,000
9 - 78 months
Requirements: min. income $2,000/month, 3+ months employed, min. credit score 550
Loans Canada Installment Loan
Finder Score:
Customer Survey:
8.00% - 46.96%
$500 - $50,000
4 - 60 months
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
LoanConnect Installment Loan
Finder Score:
Customer Survey:
8.99% - 46.96%
$500 - $2,500
3 - 6 months
LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Requirements: min. credit score 300
Mogo Installment Loan
Finder Score:
Customer Survey:
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Requirements: min. income $35,000/year, min. credit score 600
100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back. Installment Loan
Finder Score:
28.00% - 32.00% + broker fee
$500 - $1,000
3 months
Requirements: min. income $1,200, 2+ months employed. No credit check required.

Note: You may be charged a broker fee up to $300.
SkyCap Installment Loan
Finder Score:
Customer Survey:
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Requirements: min. income $1,666.67/month, full time employment/pension, min. credit score 575, no bankruptcy

Features of $600 installment loans

  • Loan amount. A $600 loan is on the lower side of typical installment loan amounts. You can often borrow between $$500 and $10,000. If you have good to excellent credit, you can borrow more.
  • Loan terms. Loan terms are typically between 3 - 60 months.
  • Interest rate. APRs can range from 9.75% to 46.96%, but if you have bad credit, be prepared for rates that start at 18%.
  • Fast. You can get a $600 installment loan on the same day, up to 2 business days.

Am I eligible for $600 installment loans?

While they vary among lenders, the basic requirements include the following:

  • Be the age of majority in your province (18 or 19).
  • Be a Canadian resident.
  • Meet the minimum income.
  • Meet the minimum credit score.

Can I get a $600 installment loan with bad credit?

You can, but it depends on the lender. Installment loans have stricter eligibility requirements than payday loans, but there are some lenders in Canada that can approve applicants with bad credit as long as you have stable income and there’s room for more debt.

What to watch out for with $600 installment loans

  • High rates. People with bad credit below 560 will face higher interest rates.
  • Loan insurance. A lender might offer you insurance as an option, but it should never be a requirement. Insurance adds to the cost of your loan.
  • Pressure. Avoid lenders that pressure you into signing without clearly explaining the terms of your $600 loan.

How to apply for a $600 loan in Canada

Follow these steps to find the right type of $600 loan and decide on a lender:

  1. Compare all options. Consider the general costs, turnaround time and repayment terms of all options available to you before deciding how to borrow.
  2. Research lenders. Check to make sure the lender offers $600 loans and that you meet eligibility requirements before looking into factors like rates, fees, terms and customer reviews.
  3. Prequalify. After you’ve narrowed down your choices, fill out an online form to find out what rates and terms you would get with a few lenders to compare personalized offers.
  4. Complete the application. Follow your top pick’s instructions to provide additional information and documents before you apply.
  5. Get your funds. Most lenders transfer the money to your bank account within the same day you’re approved. E-transfer is the most common funding method if you apply online, but you can also get your loan via direct deposit. If you visit a store, you can get your loan in cash or via e-transfer.

How else can I get a $600 loan?

Below are alternatives to payday loans and installment loans:

  • Bank account overdraft. Overdraft fees are typically fixed at around $5, making it an inexpensive option. But you might have to pay an additional $5 per day, week, month or item charged until you recover your balance.
  • Credit card cash advance. If you already have a credit card, you can take out a cash advance from an ATM. You’ll pay a fee of around $20 to $30 and a rate of around 19% to 24% APR.

I need $600 now. What are my options?

If you need $600 now, you’re going to want to look at loan options with fast turnaround time. One of the fastest loan options available are payday loans, which can have a turnaround time within an hour or less when you apply online and get the funds transferred by Interac e-Transfer. Some examples of fast payday loan lenders include iCash and Cash Money.

Alternatively, getting a credit card cash advance or going into your bank account’s overdraft is another way to $600 now. Both options are generally much cheaper than payday loans, so it’s worth considering these options first if they’re available to you.

Pros and cons of $600 loans


  • Multiple same-day or next-day options
  • Flexible eligibility requirements
  • Borrowers with bad credit or no credit can apply
  • Easy online application processes


  • Expensive options
  • Very limited bank and credit union loan options (since their loan amounts typically start at $3,000-$5,000)

5 questions to ask before choosing a loan

Consider these questions before deciding which lender to go with:

  1. Can I borrow from friends or family instead? This might put your relationship on the line, but it’s typically cheaper and more forgiving than any other option. You can learn more about how to ask, what to potentially expect and more by reading our guide to family lending.
  2. How much will it cost? For a loan of this size, compare the actual dollar amount and APR.
  3. How long do I have to repay? Breaking your loan into installments could give your finances time to recover.
  4. When do I need the money? Faster options tend to be more expensive.
  5. What do customers say? Read customer reviews on sites like the Better Business Bureau and Trustpilot to learn what you might expect from the lender. Or check out our A-to-Z directory of payday loan provider reviews.

Bottom line

You can take out a $600 payday loan or installment loan. Payday loans are extremely expensive, so consider other financing alternatives first. Before signing on the dotted line, make sure you understand the terms of your loan and have a concrete repayment plan.

Frequently asked questions about getting $600 loans

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