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Payday Loans

Overview

A short term loan designed to meet unexpected expenses or financial emergencies in between paydays.

What to expect

Our friendly staff will help you get your loan in as little as 15 minutes.

What to bring

If you’re 18 or older, all you need is:

  • Proof of income
  • Photo ID
  • A bank statement

What you need to know about Payday Loans.

What is a Payday Loan?

  • Payday Loans are unsecured short term loans averaging approximately $300 for a period of 1 to 18 days, up to a maximum of 60% net pay, depending on where you live. Check your local branch for details.
  • A cheque or pre-authorized debit, in the amount of the principal, interest and fees, is provided by the customer for repayment.
  • Payday Loans are a high cost form of borrowing.
  • Payday Loans should be used to help meet unexpected expenses or financial emergencies in between paydays.

Can I apply online?

Of course! Its Quick and Easy and takes 5 minutes or less. You can pick up your loan at The Cash Store location closest to you. Apply Now.

Cash advance requirements*:

  • Source of income
  • Photo ID
  • Proof of active bank account
  • Proof of address
  • Cheque or pre-authorized debit in the amount of principal loan amount plus interest

*Additional documentation may be necessary. Some restrictions may apply.

What are the fees?

Fees and interest vary from province to province.

Contact your nearest branch for details →

Fees Interest and APR:
Loans for Alberta, British Columbia and Saskatchewan are a rate of $23 per $100 borrowed for example a $300 loan for 14 days: Total cost of borrowing = $69 , APR = 599.64%
Loans for Nova Scotia, are a rate of $25 per $100 borrowed for example a $300 loan for 14 days: Total cost of borrowing = $75, APR = 652%
New Brunswick, Newfoundland and Labrador, Northwest Territories, Prince Edward Island, Yukon Territory and Nunavut are at a rate of $29.85 per $100 borrowed for example a $300 loan for 14 days: Total cost of borrowing = $89.55, APR = 778%

Financial Implications of Non Payment:
Alberta-2.5% per month upon default; Maximum of 2 NSF per loan @$25;
British Columbia -30% per Annum upon default; Maximum of 2 NSF @$20;
Saskatchewan-30% per Annum; Maximum of one NSF Fee per loan of $50.00; resets once the loan is paid;
Newfoundland and Labrador: 59% per Annum; One (1) business day last; $40 is automatically added; Maximum NSF Fee of $50/per loan;
Nova Scotia-59% per Annum upon default; Default Fee: One (1) business day late $40 is automatically added;
Prince Edward Island-59% per Annum; Administration Charge: One (1) business day late $50.00 is automatically added; Maximum NSF Fee of $50.00 per/loan;
Yukon-59% per Annum; Administration Charge with Amount based on Principal to a maximum of $150.00; Maximum NSF Fee of $50.00/per loan;
Northwest Territories-59% per Annum upon default; Administration Charge with Amount based on Principal to a maximum of $150.00 upon default; Maximum NSF Fee of $50.00/per loan;
New Brunswick-59% per Annum; Once NSF is posted $40 is automatically added;

Collection Practices:
To collect on a loan in default our vendors will utilize all collection practices available to the issuers of consumer credit in applicable provinces

Potential Impact to Borrowers credit Score:
Customers in default may be subject to having the default reported to a credit bureau.

Renewal Policy:
Loans are not renewed automatically.

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