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Payday Loans in Saskatchewan

According to a 2019 study by the BDO Canada Affordability Index, the majority of Canadians live paycheque to paycheque and many struggle under the weight of debt. But even if you’re living comfortably now, you never know what the future holds – an unexpected medical bill, a vehicle repair or some other expense could rear its ugly head and all of a sudden you’re in over your head.

In these cases, sometimes the best option is a payday loan to help you get out of your predicament quickly and with minimal stress. But can you even get a payday loan in Saskatchewan? Are there any qualifications or restrictions to keep in mind?

If you’re considering a payday loan in Saskatchewan but have more questions than answers, you’re in the right spot! We’re here to give you the lowdown on Saskatchewan payday loans, so you can make an informed decision and get the assistance you need.

Can I Get a Payday Loan in Saskatchewan?

Short answer: Yes, you can get a payday loan in Saskatchewan! But there are some details to keep in mind.

Canada’s Financial and Consumer Affairs Authority regulates and licenses payday lenders to ensure that consumers can borrow without being overcharged. Here are a few of the regulations in place in Saskatchewan:
  • Payday lenders can only lend a maximum of $1,500 or 50% of the borrower’s net pay.
  • Lenders can charge no more than $17 for every $100 they lend.
  • Lenders cannot collect any additional amount over what is owed or charge any additional fees for collection efforts.
These regulations help protect borrowers from excessive fee structures and make it easier for you to both borrow and pay back your initial loan.

What Do I Need to Get a Payday Loan in Saskatchewan?

While every lender is different, 310-LOAN in Saskatchewan works to make it as easy as possible for you to get a payday loan, so you don’t have to stress over a long approval process.

To apply for a payday loan through 310-LOAN, you’ll need some basic personal information along with the following:
  • Email account
  • Proof of income
  • Bank account
  • Bank statement
  • Voided cheque or pre-authorized payment form

You also need to meet the following eligibility requirements:

  • You must be nineteen (19) years of age or older
  • You must have an active source of income
  • You must have an active chequing or savings account with at least seven (7) transactions in the last thirty (30) days
  • You must not currently be in bankruptcy, consumer proposal or be enrolled in credit counseling
If you meet these basic requirements, you’ll have no problem getting a payday loan in Saskatchewan. You don’t even have to have good credit! Just fill out the online application and you can have money in your account within 30 minutes of approval.

How Can I Benefit from a Payday Loan?

Payday loans are beneficial for a number of reasons, but 66% of borrowers say that their primary motivation to use payday loans is convenience.

Payday loans are quick and easy to process, so you get your cash fast. This is great when you’re in a financial pickle or don’t quite have enough to cover expenses until your next payday.

Which leads us to another benefit of payday loans: they’re only available in small amounts. The maximum amount you can borrow from a payday loan in Saskatchewan is $1,500, and you can only take out one payday loan at a time, so it’s easier to keep up with your loan payments and avoid getting in over your head.

And finally, payday loans don’t require perfect credit for you to be approved. In fact, 310-LOAN doesn’t perform a credit check at all, so you don’t have to worry about an inquiry further damaging your credit. With 310-LOAN, no matter your credit score, you can still get the financial assistance you need quickly and affordably.

Why Choose 310-LOAN?

Now that you have everything you need to know to make an informed decision about payday loans in Saskatchewan, you can either apply online or dig into more resources to learn more about financial wellness and how to build a plan for financial success. We’ve provided online payday loans in Saskatchewan for 20 years – from Saskatoon to Regina, Moose Jaw, Estevan, Prince Albert, Swift Current and more.

310-LOAN is more than just another lender. We’re invested in our customers’ success, and we work hard to ensure that our process is fast, easy and gets you the cash you need when you need it most. Apply online now, or contact a representative at 1-800-310-LOAN. They’ll be happy to guide you through the process and help you get the cash you need fast!
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