Money Mart
Competitive APR around 34.95%. Borrow from $100 up to $25,000. Get instant decisions and fast funding, plus your first $300 payday boost with zero fees.
Money Mart offers two standout loan options for Canadians needing a quick personal loan: the Payday Boost and Installment Loan. Both feature rapid approvals, with application results available instantly in many cases. Interest rates are competitive for this segment, generally at an APR between 34.56% and 34.95%. Borrowers have access to $100–$1,500 with Payday Boost, while Installment Loans go up to $25,000 with flexible terms from 6 to 84 months.
Approval does not affect your credit score. You can borrow your first $300 with a Payday Boost and pay no fees if repaid in 14 days. The streamlined process aims to get cash in your account as quickly as possible, whether you need short-term help or a larger, structured option.
How to Apply: Step by Step
- Complete a quick online application.
- Receive your instant approval decision.
- Select the funding method that suits you best.
- Get your funds—often within just minutes if eligible.
Pros of Money Mart Loans
Money Mart stands out for speed, convenience, and transparent terms. You can check eligibility without harming your credit, giving peace of mind to cautious borrowers.
The platform’s flexibility, with amounts ranging from $100 to $25,000 and various repayment periods, suits a broad range of financial needs. Instant funding options often make the service a lifesaver for urgent situations.
Cons of Money Mart Loans
While the APR is competitive for payday-style products, it’s much higher than traditional personal loans. This may not be ideal for long-term borrowing unless necessary.
The loan protection plan increases the monthly cost if chosen, so be sure to consider whether you need this added coverage.
Verdict: Should You Choose Money Mart?
Money Mart is one of the better options for Canadians seeking quick, reliable personal or payday loans. The flexibility, instant eligibility check, and promotional offers like the $300 payday boost add significant value.
However, always review your repayment capacity carefully and understand all fee structures before committing.
