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Same-day loans in Canada to help pay for emergencies

Plenty of same-day loans are available in Canada, and we've compared some of the fastest.

In an ideal world, we’ll always have a little extra in cash or savings to cover life’s emergencies, big and small. But things happen, and sometimes we need a little help.

Same-day cash loans can be a useful source of funding when you’re in a tight spot, but with so much choice and some scarily high interest rates out there, it’s worthwhile taking the time to compare your options.

Same-day personal loans in Canada

Best for: People who can apply in the morning during standard business hours.

Same-day cash advances

Best for: People who need a loan at any time of the day and require a small amount only.

Same-day payday loans

Best for: People who need a loan at any time of the day and have exhausted all other options.

Compare same-day personal loans in Canada

Spring Financial

Spring Financial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

$500 – $35,000

Loan Amount

10.8% – 46.99%

APR

6 - 60 months

Term

Who they are

Spring Financial is an online lender offering a range of personal loans, credit-building programs and mortgages. They are based in Vancouver, BC, and have been operating since 2014.

How fast you can get the loan

Spring can send money as soon as the same business day.

Other loan details

  • Serviced provinces: All of Canada
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes
  • 100% online
  • Variety in loan amounts available
  • No prepayment penalties
  • High rates for bad credit
  • You may be offered a credit-building loan instead
Loan amount $500 – $35,000
APR 10.8% – 46.99%
Term 6 - 60 months
Min. credit score 550
Fees No fees except $30 NSF fee
Turnaround time Within 24 hours
Serviced provinces All of Canada

Loans Canada

Loans Canada Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

$300 – $50,000

Loan Amount

6.99% – 46.96%

APR

3 - 60 months

Term

Who they are

Loans Canada hosts the country's largest lending network and has been operating since 2012. The process is straightforward and allows you to access a big network of lenders with one application, including those offering bad credit or emergency loans.

How fast you can get the loan

Loans Canada is partnered with lenders that can send money as soon as the same business day.

Other loan details

  • Serviced provinces: All of Canada
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes
  • Large lending network
  • Good and bad credit options
  • Easy application
  • High rates for bad credit
  • Be wary of scammers posing as Loans Canada
Loan amount $300 – $50,000
APR 6.99% – 46.96%
Term 3 - 60 months
Min. credit score 300
Fees No application, origination or brokerage fees
Turnaround time Receive funds in as little as 24 hours.
Serviced provinces All of Canada

LoanConnect

LoanConnect Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

$500 – $50,000

Loan Amount

8.99% – 46.96%

APR

3 - 120 months

Term

Who they are

LoanConnect was founded in 2016 in London, Ontario. A loan search platform, LoanConnect works to match you with suitable lenders based on the details of your application to be approved for up to $50,000.

How fast you can get the loan

LoanConnect is partnered with lenders that can send money as soon as the same business day.

Other loan details

  • Serviced provinces: All provinces
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes
  • Fast pre-approval
  • Options for good and bad credit
  • Secured and unsecured loans
  • High rates for bad credit
  • Not a direct lender
Loan amount $500 – $50,000
APR 8.99% – 46.96%
Term 3 - 120 months
Min. credit score 300
Fees No application, origination or brokerage fees
Turnaround time Receive funds in as little as 24 hours.
Serviced provinces All provinces

easyfinancial

easyfinancial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

$500 – $100,000

Loan Amount

9.99% – 46.96%

APR

9 - 120 months

Term

Who they are

easyfinancial is an alternative Canadian lender, offering a range of loan products to individuals who might traditionally struggle to get credit from banks. They even won the Alternative Lender category in our Finder: Personal Loans Best-in-Class Awards 2024. You can apply for a loan online with approval coming in as little as 10 minutes, or visit a local branch for in-person service.

How fast you can get the loan

easyfinancial can provide approvals in as little as 10 minutes, and you can get your money as soon as today.

Other loan details

  • Serviced provinces: all provinces
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes
  • Secured and unsecured loans
  • Fast approval process
  • Bad and no credit options
  • Interest rates can be high
  • Potential for additional fees
Loan amount $500 – $100,000
APR 9.99% – 46.96%
Term 9 - 120 months
Min. credit score 300
Fees you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees
Turnaround time Approval within 30 minutes
Serviced provinces all provinces

Vancity Fair & Fast Loan

Vancity Fair and Fast Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Read review

$100 – $2,500

Loan Amount

Starting at 19%

APR

2 weeks - 24 months

Term

Who they are

Vancity is a credit union based in Vancouver, with more than 50 branches throughout BC. They offer a range of loan products including short-term emergency loans, often with competitive rates and terms.

How fast you can get the loan

Vancity can give funding in as little as 10 minutes.

Other loan details

  • Serviced provinces: BC
  • Accepts bad credit: Yes
  • Requires credit check: No
  • Same-day deposit available: Yes
  • Established and trusted lender
  • Variety of loan types
  • Flexible loan terms
  • Only available to BC residents
  • Some loans require in-person visit
  • Limited information online
Loan amount $100 – $2,500
APR Starting at 19%
Term 2 weeks - 24 months
Fees No prepayment fees
Turnaround time Within 10 minutes
Serviced provinces BC

Compare same-day cash advances

KOHO

KOHO Cover
Not yet rated
Go to site Read review

$20 – $250

Loan Amount

Starting at 0%

APR

Flexible

Term

Who they are

KOHO is one of Canada's leading fintech companies. In addition to its basic services, they are now offering an emergency cash advance service called Cover, available to KOHO account holders.

How fast you can get the cash advance

Immediately – as long as you sign up for a KOHO account first.

Other loan details

  • Fees: subscription fee starting at $2/month
  • Serviced provinces: All provinces and territories
  • Accepts bad credit: Yes
  • Requires credit check: No
  • Same-day deposit available: Yes
  • No interest
  • No credit check
  • Quick access to funds
  • Monthly Cover fee ($2)
  • Monthly KOHO plan fee ($4 - $19)
  • $250 limit
Loan amount $20 – $250
APR Starting at 0%
Term Flexible
Fees subscription fee starting at $2/month
Turnaround time Immediately
Serviced provinces All provinces and territories

Nyble

Nyble Credit Line
Not yet rated
Go to site Read review

$30 – $150

Loan Amount

Starting at 0%

APR

30 days, extendable

Term

Who they are

Nyble is a relatively new Canadian financial service that offers a zero-interest line of credit of up to $150 via its web or mobile app.

How fast you can get the cash advance

You can get your money in 1-30 minutes with a paid membership or 1-3 business days with a free membership.

Other loan details

  • Fees: 0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding
  • Serviced provinces: All provinces and territories
  • Accepts bad credit: Yes
  • Requires credit check: No
  • Same-day deposit available: Yes
  • Can be approved with bad credit
  • Up to $150 zero-interest funding
  • Flexible loan term
  • Instant funding requires membership
  • Prefers employment income
Loan amount $30 – $150
APR Starting at 0%
Term 30 days, extendable
Fees 0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding
Turnaround time 1-30 minutes with a paid membership or 1-3 business days with a free membership.
Serviced provinces All provinces and territories

Bree

Bree Early Pay
Not yet rated
Go to site Read review

$20 – $350

Loan Amount

Starting at 0%

APR

Next pay cycle (61 days max.)

Term

Who they are

Bree is a relatively new Canadian fintech company offering a single service: fast cash advance loans. With no interest and no credit checks, Bree offers users the opportunity for emergency cash coverage to help you get through to your next paycheque.

How fast you can get the cash advance

Within 8 hours with express delivery (fee is based on the advance amount) and up to 3 business days for standard delivery

Other loan details

  • Fees: 0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance)
  • Serviced provinces: All provinces and territories
  • Accepts bad credit: Yes
  • Requires credit check: No
  • Same-day deposit available: Yes
  • Easy to apply
  • No interest
  • No late fees
  • Instant transfer requires fee
  • Need to connect your bank account to the Bree app
  • $350 funding limit
Loan amount $20 – $350
APR Starting at 0%
Term Next pay cycle (61 days max.)
Fees 0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance)
Turnaround time Within 8 hours with express delivery (fee is based on the advance amount) and up to 3 business days for standard delivery
Serviced provinces All provinces and territories
⚠️ 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 same-day payday loans

iCash

iCash Payday Loan

$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time

Who they are

iCash has been in operation since 2014 and provides payday loans with interest rates varying by province. iCash has provided same-day payday loans to over 500,000 customers across Canada, and it also offers 24/7 customer support.

How fast you can get the loan

iCash's systems are automated, so you can get instant approval and funding 24/7.

Other loan details

  • Serviced provinces: AB, BC, MB, NB, NS, ON, PEI
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes

  • Payday loan in an hour or less
  • Bad credit is okay
  • Very expensive
  • Short repayment terms
Loan amount $100 – $1,500
APR Varies by province
Term 7 - 62 days
Min. Turnaround time As little as 2 minutes with Interac e-Transfer
How to apply Online
In Store
Credit Check Yes

GoDay

GoDay Payday Loan

$100 – $1,500
Loan amount
1 – 62 days
Loan Term
2 minutes
Min. Turnaround Time

Who they are

GoDay is a dedicated Canadian payday lender, offering emergency cash loans up to $1,500 across several provinces. It has an automated, fast approval system and the process is completely online.

How fast you can get the loan

GoDay provides instant approval and funding in as little as 2 minutes

Other loan details

  • Serviced provinces: AB, BC, MB, NB, NS, ON, PEI, SK
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes

  • Get funded in minutes
  • Accepts CCB, disability tax credit, OAS, CCP and private pensions
  • E-transfer or direct deposit available
  • Incredibly high interest rates
  • Short repayment terms
Loan amount $100 – $1,500
APR Varies by province
Term Up to 62 days
Min. Turnaround time As little as 2 minutes with Interac e-Transfer
How to apply Online
In Store
Credit Check Yes

Wagepay

Wagepay Wage Advance Loan

$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time

Who they are

Wagepay is an online payday lender founded in Australia in 2020, and it has been operating in Canada since 2023. Although they currently only service residents of BC and Ontario, Wagepay does have plans to expand throughout the country in future.

How fast you can get the loan

Wagepay provides instant funding 24/7.

Other loan details

  • Serviced provinces: BC, ON
  • Accepts bad credit: Yes
  • Requires credit check: Yes
  • Same-day deposit available: Yes

  • Loan funding within minutes
  • Easy application
  • No late fees or credit checks
  • Expensive (8% fee &amp
  • 24% APR)
  • Short repayment terms
Loan amount $100 – $1,500
APR Varies by province
Term Up to 62 days
Min. Turnaround time As little as 2 minutes with Interac e-Transfer
How to apply Online
Credit Check No
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

Risks of same-day loans

If you’re considering a same-day loan to cover any kind of expense, be aware of the risks involved. Remember that same-day loans with high interest rates, such as payday loans, should always be considered only as a last resort.

  • High interest rates and fees. These loans often come with extremely high interest rates, far more than you would ever have with a credit card or traditional personal loan. On top of that, late fees and other penalties can severely increase the total cost of borrowing.
  • Risk of entering a debt cycle. Borrowers who take on same-day loans risk getting trapped in a cycle of debt, whereby they need to take out additional loans in order to pay off the first one on time.
  • Short repayment terms. Same-day loans often carry short, restrictive payment terms, meaning you’ll have to repay the full amount usually within 30 days.
  • Predatory lenders. Some lenders offering same-day loans may try to conceal the full terms and conditions of a loan offer, as they look to take advantage of a customer’s need for emergency cash.

Tips to get a same-day loan fast

When it comes to landing your same-day loan funding as quickly as possible, it can help to keep the following points in mind:

  • Check your eligibility. It’s a good idea to start by making sure you can meet the eligibility criteria before applying for any loan product.
  • Apply online. The fastest same-day loans are going to come through online lenders, or at the very least, a lender which offers the chance to be approved via an online application.
  • Look for e-Transfer lenders. Those lenders who offer funding through e-Transfer will typically have your loan with you faster than others. Learn more about e-Transfer payday loans.
  • Consider membership perks. Some apps and same-day lenders, like Nyble, will allow you to receive instant loan funding only if you sign up for a membership. Check with your chosen lender to see if there are any extra steps you need to take in order to receive your funding as quickly as possible.

Bottom line

There is no shortage of dedicated same-day lenders in Canada. Choosing the right one for you comes down to how long you can wait for emergency funding, how much interest you’re willing to pay, and how much funding you need. No matter where you’re at, watch out for potential scams and predatory loan offers. If it seems too good to be true, it probably is.

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

Contributor

Steven Brennan is a freelance finance writer working from Vancouver, B.C. He has a BA and an MA in English Literature at the University of Ireland, Maynooth, and also spent time working in Italy and Vietnam as an English teacher. Today, he writes regularly on a range of personal finance topics including banking, loans, mortgages, insurance and tax. His work has appeared on sites such as LowestRates.ca and WealthRocket, as well as in print with Canadian MoneySaver. See full bio

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