Money Mart
Borrow your first $300 free with fast approval. Instant personal loans ranging from $100 to $1,500. No impact on your credit score to check eligibility.
Money Mart’s Payday Boost is a standout short-term loan offering that gives new borrowers a unique advantage. You can borrow your first $300 free—meaning, there is no fee if repaid within 14 days.
The interest rate for installment loans is between 34.56% and 34.95% APR, with loan amounts available from $100 up to $1,500 for the Payday Boost option, and larger amounts for installment loans. Flexible terms let you repay on your next payday.
Eligibility checks do not impact your credit score, and approvals are often instant following a simple application. Funding can arrive in as little as 15 minutes.
How to Apply: Step by Step
1. Start by completing a short online application to check your eligibility.
2. Select your preferred funding method and bank account for deposit.
3. Receive a prompt decision, usually within minutes.
4. If approved, funds are deposited quickly—sometimes in as little as 15 minutes.
5. Repay your loan with flexible timing, typically on your next payday.
Main Advantages
The biggest perk is the first $300 free offer for new Payday Boost applicants. This is highly appealing for those needing an emergency cash injection without worrying about extra fees.
Money Mart has instant approval and fast funding, making it a convenient choice for those who value speed.
Main Drawbacks
The maximum APR of 34.95% is on the higher side for those seeking larger installment loans, which may deter cost-conscious borrowers.
Loan amounts above $300 are subject to the regular interest rate and fees, so read the terms closely before proceeding with a larger loan.
Our Verdict
Money Mart’s Payday Boost offers great flexibility for Canadians seeking fast cash, especially for the first $300 borrowed. The application is easy and won’t impact your credit score. However, weigh the costs on higher amounts before committing. Overall, this is a strong option for quick, small loans.
