Money Mart
Borrow your first $300 with no fee using Payday Boost and enjoy instant approval, flexible repayment terms, no credit impact, and fast funding.
Money Mart’s Payday Boost shines for Canadians looking for fast, small-dollar personal loans without worrying about their credit score. The product allows first-time borrowers to access up to $300 with no fee, making it a competitive option for immediate financial needs. Typical APRs range from 34.56% to 34.95%, and funds can be available within minutes to one business day. Loan amounts range from $100 to $1,500, while installment loans up to $25,000 are also offered for those seeking more substantial financing. The process is fully online or available at branches across major Canadian provinces.
How to Apply: Step by Step
- Visit Money Mart’s online application portal or a physical branch.
- Select your desired loan amount and type (Payday Boost or installment loan).
- Complete a short eligibility check, which does not impact your credit score.
- Choose your repayment schedule (payday, weekly, or monthly options).
- Submit your application and get an instant decision.
- If approved, funds are deposited into your chosen bank account—sometimes within 15 minutes.
Pros: Fast Funding and Simple Application
The clear highlight is instant approval and funding. Borrowers get access to emergency cash quickly—making the Payday Boost practical for urgent bills.
No credit check means approval is achievable for more applicants. The first $300 is fee-free for new customers, which is rare among short-term lenders.
Cons: APR and Loan Costs
The main downside is the high APR, with rates up to 34.95%. This is typical for payday or instalment loans, but can be expensive compared to traditional credit.
Additionally, borrowing more or selecting longer terms increases total repayment costs. Optional protection plans, while helpful, add further monthly fees.
Verdict: Is Money Mart Payday Boost Worth a Look?
If you need fast approval and your credit isn’t ideal, Money Mart’s Payday Boost is a practical solution—especially for a first borrow with zero fee on $300.
However, always compare rates and ensure repayment fits your budget to avoid high costs. For urgent funds, Money Mart remains one of the easiest go-to options in Canada.
