{"id":1058562,"date":"2025-05-20T13:30:16","date_gmt":"2025-05-20T17:30:16","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1058562"},"modified":"2025-09-09T10:15:21","modified_gmt":"2025-09-09T14:15:21","slug":"no-interest-loans","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/cash-advance-apps\/no-interest-loans","title":{"rendered":"5 types of no-interest loans"},"content":{"rendered":"

Loans with no interest might sound like they\u2019re too good to be true, but there are several legit zero-interest borrowing options available. From cash advance apps and Buy Now Pay Later plans to government-backed student loans, let\u2019s take a look at five types of no-interest loans in Canada, how they work and how to get funded.<\/p>

1. Cash advance apps<\/h3>

Best for:<\/strong> People who want a small, fast loan with no credit check.<\/p>

How it works:<\/strong> Cash advance apps like Nyble<\/a>, Bree<\/a> and KOHO Cover<\/a> provide interest-free loans of up to $750. You can usually apply without a hard credit check, and it\u2019s possible to get instant access to your funds.<\/p>

Benefits<\/h4>
  • Instant.<\/strong> You can apply online and get access to your cash advance funds instantly.<\/li>
  • Easy requirements.<\/strong> There\u2019s no need to go through a credit check, and non-employment incomes are accepted.<\/li>
  • Flexible repayments.<\/strong> You may be able to extend your payment due date as needed.<\/li><\/ul><\/div>

    What to watch out for<\/h4>
    • Monthly fee.<\/strong> A monthly subscription fee may apply.<\/li>
    • Instant funding fee.<\/strong> Providers will usually charge an additional fee if you want instant access to your funds\u2014otherwise you may have to wait up to three business days.<\/li>
    • Small loan amounts.<\/strong> This loan may not be enough if you need more than a few hundred dollars.<\/li><\/ul><\/div><\/div>

      Compare cash advance apps with 0% interest<\/h4>
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