How To Apply For Online Payday Loans in Saskatchewan

Can I Get A Loan On The Same Day Of Approval?

Yes, it is possible to get a loan on the same day of approval in Saskatchewan and Saskatoon. Once you have completed your loan request form, you will receive an instant loan offer from one of our reputable lending partners. If you decide to go ahead and your loan application is approved, then you could receive your funds within a couple of minutes or hours.

In some cases, you will receive your payday loan on the next business day. To maximize your chance of same day loans, try applying during typical working hours of 9am to 5pm on Monday to Friday, and be readily available by phone incase the lender gets in touch with any follow-up questions before approving the loan.

Can I Get Online Payday Loans Saskatchewan No Credit Check?

Yes, it is possible to get online payday loans in Saskatchewan with no credit check. We work with a number of lenders who can focus on other key factors such as whether you have a stable income. Just note that at Pheabs we do typically undertake soft searches when assessing your loan application — but do not worry as this will not leave a visible footprint on your credit record!

Alternatively, our lenders may offer you a secured loan which ties an asset such as your property or vehicle to the loan. This means that you will not need your credit score to qualify since the loan will be based on collateral.

How Do Repayments Work With Pheabs?

You can repay your payday loan in Saskatchewan in up to 62 days. Payments will be automatically withdrawn from your bank account on dates agreed upon in your loan contract. There is also usually the option to repay back your payday loan early — simply get in touch with the lender to arrange doing so.

If an unexpected financial situation arises and you are worried that you might miss a repayment, then contact your lender immediately. They might be able to offer you a more flexible repayment plan or temporarily freeze the interest on the loan. Otherwise you could face late fees and damage your credit score.

What Should I Consider Before Applying?

There are certain considerations that you should take into account before applying for a payday loan. This includes:

Reasoning — Think about whether you really need to borrow money. You should not take out a loan for frivolous spending such as drinking or shopping, or to pay for an existing loan as this could lead to debt issues down the line. Rather they should be used for important expenses such as medical bills or utility payments that need to be paid for now.

Repayments — You must make sure that you will be able to afford repaying back your payday loan. Otherwise you could face extra charges such as late fees and accrued interest. There is also the risk of damaging your credit score which could make it more difficult to borrow loans in the future.

Alternatives — Before committing to a payday loan, it is worth researching other options available to find the right financial product for you. You could consider an authorized overdraft from your bank, borrowing money from family or friends or a low interest credit card to name a few.

Where To Find Us

What are the Payday Loan Regulations in Saskatchewan and Saskatoon?

Are Payday Loans Legal?	Yes
APR	443%
Maximum Loan Amount	$1500
Minimum Loan Amount	$100
Maximum Loan Term	62 days
Cost Per $100	$17
Cooling Off Period To Cancel A Payday Loan	Next business day

How Much Would A Payday Loan Cost in Saskatchewan and Saskatoon?

Canadian lenders are allowed to charge a fee in the Saskatchewan province. This would mean that if for instance you wish to borrow $500 over 2 weeks, you would pay $585 based on a APR of 443%.

It is important to be aware of the fees before committing to a payday loan so that you are certain you will be able to afford the repayments. If so, Pheabs can help you find the best payday loan today! We work with a panel of reputable lenders to source the most competitive rate for you.

FAQs on Payday Loans in Saskatchewan and Saskatoon