Best Same Day Cash Loans In Canada

Advertiser Disclosure

This article may contain references to products/services to our partners. We may be compensated when you click on links to their products/services. Our partners cannot pay us to guarantee any favorable reviews. All products we feature or write about are objective and unaffected from these partnerships.
Hide text

Last updated on April 2, 2021

Borrow up to $50,000

Fast approval. Free to apply. Get up to $50,000 today.

Start Free Quote ➞

If you are in an emergency and need money urgently, a same-day cash loan could offer the cash you require on the same day you apply. There are several lending institutions and loan providers in Canada that can get you funds the same day you request them. But which one is right for you? Read on to find out.

Best Same Day Cash Loans In Canada

Loans Canada

Loans Canada

Maximum borrow amount: $50,000

Features: Get multiple offers from one application. Free to apply. Fast approval.

When can you get the funds? As early as same day

Loans Canada offers one of the fastest and easiest methods of getting any kind of personal loan. You can borrow up to $50,000 and can get the funds as early as the same day. Fill out the application once (free to apply) and get multiple offers you can choose from.

Learn more

Loans Canada can connect you to a huge network of loan providers and get you money in one day. After selecting the kind of loan you want and inputting some important information into your loan application form, you will be prequalified for a big list of offers, each from a different loan provider.

This platform helps you access loan amounts up to $50,000. The lending institutions on Loans Canada offer interest rates beginning from 3%. You can access terms ranging between three months and five years. However, it is important to note that terms differ by credit and loan provider.



Maximum borrow amount: $50,000

Interest rates: As low as 4.6%

When can you get the funds? Same day

LoanConnect has one of the largest borrow amounts in Canada of up to $50,000. They don't directly fulfill the loans themselves, but they work with dozens of different lenders in Canada to provide Canadians with the best offers. As a result, you can get interest rates as low as 4.6% and get access to your funds within the same business day.

Learn more

LoanConnect is a loan search platform that offers same day cash loans of up to $50,000. The platform matches a loan-seeker to a loan that they are pre-approved for in a few minutes from its huge network of connected loan providers. After being pre-approved for the loan, applicants will be directed to apply for the loan in question on the website of the loan provider via a link.

To qualify for the same day cash loan, you should be a citizen of Canada and be 18 years. The good news is that you do need to submit any proof of salary or employment. Interestingly, people with previous consumer proposals or existing outstanding loans can also find loan providers among the network of LoanConnect. The individual lending institution sets the repayment terms that range from 12 months to 60 months.


This lender provides guarantor loans of up to $10,000. Plus, it does not evaluate you based on your credit score. LendingMate is also perfect for people who have a low credit score. The annual percentage rate on the same day cash loan is between 34.9% to 43.0%. And you will have to repay the loan over 12 months to 60 months.

However, you should know that while you are not subjected to a credit check, your guarantors are. A guarantor should be a citizen of Canada, have good credit, and between 19 and 75 years of age. If you miss your payment, the lender will contact you to discuss the situation before taking any strict measures. Most importantly, your guarantor will be accountable for repaying the balance of your same day cash loan if you are not able to make your payments.


If you are looking for loan amounts between $500 and $5,000 and approval within one day, then this lender is perfect for you. The lending partners of this loan search platform offer products, such as secured loans, home improvement loans, installment loans, and unsecured loans. To be eligible for the same day cash loan, you will need proof of salary and an ID.

What’s more, there are no prepayment penalties. You can repay your same day cash loan earlier without paying any additional fees. The lending partners associated with AfterLoans charge between 19.99% and 55.00%. And the length of the term is between six months and 36 months. The good news is that people who have existing or past bankruptcies can also apply for the same day cash loan.


Borrowell offers same day cash loans of up to $35,000. The loan term is from three to five years. The annual percentage rate begins at 5.99%. The best part is that would-be borrowers can get a free credit score. You can check your credit using the advanced tools of the lender. And you can find loans that match your profile. Last but not least, there are no penalties for prepayment.

Tips to choose the best same day cash Loan

First of all, you should get familiar with the same day cash loan features that vary from one loan provider to the other. Also, well-known lending institutions or loan providers should provide loan terms that benefit them and the loan seeker.

Here are some of the tips to choose the best same day cash loan.

Stay away from bad loan providers

You should ensure that the lender you want to take a loan from makes the loan terms clear before requesting you to sign. In addition to this, you should also keep an eye on the list of fees that lending institutions charge for specific actions taken by a borrower. If the list of fees is missing completely, you should stay away from the loan provider in question. It is important for you to know that most same day cash loans have some fees. Therefore, if a loan provider or lending institution seems to be intentionally not revealing their fees, then this is possibly an indication that the fees are exorbitantly high. It is worth knowing that some lending institutions may even charge a fee from borrowers with poor credit.

Further, bad loan providers tend to convince people to put up their vehicle or house as security to refinance their current debts when it is not needed. Apart from this, they try to coerce you into taking on same day cash loans that are not good for you. If you want a short-term, fixed-rate same cash day loan and the only offers are for long-term and adjustable-interest rates, it is a good idea to reconsider.

Optimize your same day cash loan

For any same-day cash loan, it is necessary to consider factors, such as prepayment penalties, fees, term length, and interest rates.

If you want a loan fast and intend to repay it fast, then it is important to select a loan with no prepayment penalties, even if it has an unsuitable term length and a high-interest rate. If you believe that you will take some time to repay the loan, then choose a loan with the longest term and the lowest annual percentage rate.

Advantages of same day cash loans

Let’s take a look at some of the advantages of same day cash loans.

Fast money

You will get the cash you need instantly. After the loan seeker chooses to take out the same day cash loan, the process of application is an easy one to follow, at the end of which, money can be procured very fast.

Convenient online process

Luckily, you can finish the whole process from the comfort of your home. Additionally, you can track the same day cash loan online via the app or email.

Easy approval

Generally, these loans are easier to get approved for than a traditional personal loan from a financial institution. This gives individuals who have not so good credit scores access to money that they may require during emergencies.

Same day cash loans: How they work?

Most same day cash loans are available online. And you can complete the application process online through an app or a call. Unlike personal loans from traditional financial institutions, the same day cash loans may be easier to get approved for. However, they may come with higher interest rates.

Once the loan is approved, you get a notification regarding the loan terms. If you agree with these terms, then you can choose the loan and the loan provider deposits the money into your bank account within 24 hours.

The loan term can be a few years or a few months. The title loan and an installment cash loan are the most common kinds of same day loans used by people. The title loan is a loan that needs an asset (a car or house) as collateral. And an installment loan is a loan that you pay back over time with a fixed number of scheduled payments.

Uses of same day cash loans

People typically use same day cash loans for urgent expenses including:

  • Assorted expenses when an individual is short of liquid cash
  • Unpaid utility bills (if the utility will be canceled soon if not paid)
  • House repairs (if there has been a natural disaster or an accident)
  • Vehicle repairs (if access to a car is essential)
  • Medical bills
  • Likewise, businesses might use these loans for several purposes, including:
  • Paying off unpaid utility bills (if the utility will be canceled soon if not paid)
  • Paying unpaid salaries (to make sure laborers continue working)
  • Boosting working capital (to finance everyday expenses)
  • Paying off vendors and contractors

Borrow up to $50,000

Fast approval. Free to apply. Get up to $50,000 today.

Start Free Quote ➞

Do you live in Canada?

Get updates on the best new products and offers for Canadians.