Money Mart
Borrow your first $300 with no fee. APR ranges from 34.56% to 34.95%. Get approved instantly with no impact to your credit score. Simple, fast, and flexible.
Money Mart’s Payday Boost is a standout choice for Canadians seeking quick, accessible funds. The main highlight: your first $300 borrowed is fee-free, and overall, their APR ranges from 34.56% to 34.95%. Loan terms are flexible, spanning short durations to up to 84 months for installment options, with repayments set for your next payday or structured monthly plans.
Applying for a Money Mart loan is straightforward. Begin by checking your eligibility online without impacting your credit score. Complete the application form, choose your preferred funding method, and receive your money as soon as 15 minutes after approval. The process is digital and supports in-branch visits for those preferring face-to-face service.
How to Apply
- Check eligibility without affecting your credit score.
- Fill out a quick application, confirming your details and income.
- Select your funding method to receive the funds.
- Submit the application, and get approved instantly.*
- Receive funds via direct deposit or in-store pick-up.
Key Pros
One clear advantage is the opportunity to borrow your first $300 fee-free, a rare offer. In addition, eligibility checks have zero impact on your credit score, making it risk-free to inquire.
Approvals are fast, often instant, with funding available the same day. Flexible repayment terms and transparent fees boost Money Mart’s appeal for short-term needs and emergencies.
Potential Cons
Money Mart’s APR is on the higher end, with rates up to 34.95%. This makes it less ideal for those seeking long-term financing on large sums.
Some users may find it limiting that larger loans come with stricter requirements and higher overall repayment costs due to interest and optional insurance plans.
Our Verdict
Money Mart’s Payday Boost stands out for fast access to funds, ease of application, and an attractive intro offer. It’s best suited for those needing short-term, small loans with quick approval and minimal hassle. For larger or repeated borrowing, always review the full cost of repayment before proceeding.