{“menuItems”:[{“label”:”Best bad credit loans in Saskatchewan”,”anchorName”:”#best-bad-credit-loans-in-saskatchewan”},{“label”:”How do bad credit loans in Saskatchewan work?”,”anchorName”:”#how-do-bad-credit-loans-in-saskatchewan-work”},{“label”:”Types of bad credit personal loans in Saskatchewan”,”anchorName”:”#types-of-bad-credit-personal-loans-in-saskatchewan”},{“label”:”Features of bad credit loans in Saskatchewan”,”anchorName”:”#features-of-bad-credit-loans-in-saskatchewan”},{“label”:”How much do bad credit loans in Saskatchewan cost?”,”anchorName”:”#how-much-do-bad-credit-loans-in-saskatchewan-cost”},{“label”:”How to apply for bad credit personal loans in Saskatchewan”,”anchorName”:”#how-to-apply-for-bad-credit-personal-loans-in-saskatchewan”},{“label”:”Eligibility requirements of bad credit loans”,”anchorName”:”#eligibility-requirements-of-bad-credit-loans”},{“label”:”Can you get a bad credit loan with low income in Saskatchewan?”,”anchorName”:”#can-you-get-a-bad-credit-loan-with-low-income-in-saskatchewan”},{“label”:”Can you get guaranteed approval on bad credit loans in Saskatchewan?”,”anchorName”:”#can-you-get-guaranteed-approval-on-bad-credit-loans-in-saskatchewan”},{“label”:”How to get the best bad credit loans in Saskatchewan”,”anchorName”:”#how-to-get-the-best-bad-credit-loans-in-saskatchewan”},{“label”:”How can I improve my chances of getting approved?”,”anchorName”:”#how-can-i-improve-my-chances-of-getting-approved”},{“label”:”Other options available for people struggling with bad credit”,”anchorName”:”#other-options-available-for-people-struggling-with-bad-credit”},{“label”:”What to watch out for with bad credit loans in Saskatchewan”,”anchorName”:”#what-to-watch-out-for-with-bad-credit-loans-in-saskatchewan”},{“label”:”Learn more about the best bad credit loans in Saskatchewan”,”anchorName”:”#learn-more-about-the-best-bad-credit-loans-in-saskatchewan”},{“label”:”Frequently asked questions”,”anchorName”:”#frequently-asked-questions”}]}If you’re struggling to qualify for financing from a bank or credit union, there are plenty of options for bad credit loans in Saskatchewan. These loans focus less on your credit score and more on other eligibility factors such as your income or employment status. Just watch out for high interest rates and fees.Compare some of the best bad credit loans in Saskatchewan to find a loan for your unique situation.Best bad credit loans in SaskatchewanLoanConnect6.99% – 46.96%$100–$50,0003 – 120 monthsSearch platform for loans, pre-approval in 5 minutesGo to siteLearn moreLoans Canada5.4% – 46.96%$300–$50,0004 – 60 monthsSearch platform for loans, largest lender networkGo to siteLearn moreSpring Financial9.99% – 46.96%$500–$35,0006 – 60 monthsFast application, same-day fundingGo to siteLearn moreLoanz29.90% – 46.90%$1,000–$15,00012 – 60 monthsInstant decisions, funding in 15 minutesLearn moreFairstone19.99% – 24.49%$5,000–$50,00036 – 120 monthsQuick quotes, secured and unsecured loansGo to siteLearn moreeasyfinancial9.99% – 46.96%$500–$100,0009 – 120 monthsApproval in 30 minutes, flexible eligibility requirementsLearn moreMoney Mart29.90% – 46.90%$500–$15,00012 – 60 monthsInstant decisions, offers personal and payday loansLearn moreLend for AllFrom 5.9%$300–$50,00012 – 60 monthsSearch platform for loans, secured and unsecured loansLearn moremarble Fast Track Loan18.99% – 24.99%$5,000–$15,00036 – 84 monthsLoan to pay off consumer proposal, instant credit score increaseLearn moreCapital One Guaranteed Mastercard19.8% + $59 annual feeUp to $7,000 credit limitNot applicable$75-$300 deposit required as collateral, pre-approval with no risk to credit scoreLearn moreHow we chose the best bad credit loans in SaskatchewanWe’ve chosen the products on this page based on the providers available through Finder and online in the Canadian loans marketplace. These loans are not representative of the entire market.When choosing our picks for the best online bad credit loans in Saskatchewan, we considered each lender’s rates, fees, terms, borrowing amounts, application process, funding speed, eligibility requirements, customer support and feedback, associations, accreditations and perks for borrowers. No single personal loan will be the best choice for everyone, so compare your options before applying.How do bad credit loans in Saskatchewan work?Bad credit loans in Saskatchewan are for people with a poor credit history. Usually that’s defined as having a credit score under 560, sometimes even 600. These loans come with much higher interest rates and fees than traditional loans because it’s riskier for your lender to lend to you.You can apply for a bad credit loan in Saskatchewan completely online and get approved on the same day.According to credit bureau Equifax, a credit score under 560 is considered “poor”.Types of bad credit personal loans in SaskatchewanYou can apply for different types of bad credit loans in Saskatchewan.Short-term installment loans. There’s no need for collateral. The loans are usually for lower amounts than you would qualify for with a conventional unsecured personal loan.Payday loans. These are very short loan terms with extremely high fees that usually need to be paid back by your next paycheque. Learn more about payday loans in Saskatchewan.Secured loans. Use an asset like your home or car to secure your loan to get lower interest rates. Just be aware that you can lose your asset if you default on your loan.Features of bad credit loans in SaskatchewanLoan amount$500 to $10,000$100 to $1,500Up to $50,000Loan term6 – 60 monthsBy your next payday6 – 60 monthsInterest rates or fees18%–46.96%$17 for every $100 borrowedVaries – usually lower than installment loansTurnaround times24–48 hoursSame dayA few days to weeksIncrease your chances of approval with a cosignerSome lenders allow cosigners for installment loans or secured loans. A cosigner is a family member or friend with strong finances who’s willing to sign the loan with you. If you stop making loan payments, your cosigner becomes responsible for paying them.How much do bad credit loans in Saskatchewan cost?The total cost of bad credit loans in Saskatchewan will vary based on features such as your loan type, amount, term and interest rates/fees. Below is a hypothetical example of how much a $1,000 loan might cost a borrower.Loan amount$1,000$1,000$1,000Loan term12 months14 days12 monthsInterest rate or fees46.93%$15 per every $100 borrowed26%Monthly payment$106.00Total amount paid on payday$95.53Total interest/fees$272.02$150$146.36Total loan cost$1,272.02$1,150$1,146.36Total APR46.93%391%26%As you can see, the payday loan in this example has the lowest total loan cost but the highest APR. This is because you accumulate $150 in fees over 2 weeks, rather than 12 months as with the other loans. This makes payday loans the most expensive of all bad credit loans in Saskatchewan.How to apply for bad credit personal loans in SaskatchewanFollow these steps to apply for bad credit loans in Saskatchewan:Check your credit score. Order a copy of your credit report from Equifax or TransUnion to ensure you know your credit score going in. This will help you determine which loans you might be eligible for.Compare lenders. Search for online lenders that offer bad credit loans. Aim to shop around with a reputable loan broker or consult the lenders in this post to make sure you end up with a legit company.Compare loans. Compare the features of bad credit personal loans. Be sure to look at the APR, how much you can borrow, how long you have to repay the money and how often you’ll have to make repayments.Get pre-approved. Apply for pre-approval with a few lenders to see which options you might qualify for. This will give you a better idea of what interest rates and fees you’ll have to pay. Just make sure the lender does a soft credit check only before you apply.Complete your application. When you’re happy with an offer, submit any documentation required to support your application, including proof of ID, bank statements, banking info and proof of employment. If you opt for instant bank verification, you won’t need to email or upload any of these.Review your final loan offer. When you get your official loan offer, read over it carefully. Check the interest rate, fees, loan amount, term and payment schedule before you sign. The money will typically be deposited into your account within one business day.Eligibility requirements of bad credit loansWhile requirements will vary from lender to lender, you will usually need to meet the following:Be a Canadian citizen or resident who is at least 18 years old.Have a valid Canadian address and bank account.Meet minimum income and employment requirements.Meet minimum credit score requirement (as needed).Can you get a bad credit loan with low income in Saskatchewan?It depends on how much of your monthly debts take up your total monthly income. If your current monthly debt payments already take up too much of your monthly income (typically over 50–60%), lenders for bad credit loans in Saskatchewan may not approve you.
Can you get guaranteed approval on bad credit loans in Saskatchewan?No. Legitimate bad credit lenders in Saskatchewan don’t guarantee approval. They’ll need to review your finances first by looking at your pay stubs, bank statements and credit report. Steer clear of lenders that offer guaranteed approval because it could be a scam.How to get the best bad credit loans in SaskatchewanThink about the following features to help find the right loan for your personal situation:Interest rate. Compare lenders and aim to pay under 25% APR if at all possible. Avoid taking out payday loans if other options are available.Loan amounts. Only borrow what you can afford to pay back. Most lenders will max out their loan amounts around $10,000 for bad credit loans, but you may qualify for more with a secured loan. Payday loans only go up to $1,500.Loan terms. Longer terms mean lower monthly payments, but you’ll pay more interest overall. Aim for the shortest term you can find with monthly payments you can afford.Fees. Watch out for early repayment fees, NSF fees, late payment fees and set-up/origination fees. Avoid lenders that charge excessive fees.Turnaround time. Most bad credit installment loans are paid out within 24 hours, while payday loans can be paid out in minutes.Secured loans can take several days to weeks to process. Find a turnaround time that works with your schedule. If you’re facing an emergency, learn more about emergency loans.Reputation. Read customer reviews and check sites like the Better Business Bureau and Trustpilot to make sure the company you want to borrow from is legitimate and has a good reputation.Rebuilds credit. Ask your lender if your loan payments will be reported to the credit bureaus to increase your score. Keep in mind that payday loans don’t offer this option.How can I improve my chances of getting approved?While these tips won’t guarantee you’ll be approved for a loan for bad credit, they can help increase your chances:Sign up for a secured or guarantor loan. Secure your loan with collateral or get a friend or family member with good credit to cosign your loan.No recent NSF fees in your bank account. NSF transactions in the last 60–90 days can lower your chances of approval for a loan.Review your application. Errors on your application could result in an automatic denial.Work on your credit score. Take measures to improve your credit to increase your chances of getting approved. This will also help you get lower interest rates and better terms.Other options available for people struggling with bad creditYou may want to consider these options before you take out high-interest bad credit loans in Saskatchewan.Government subsidies. You could qualify for provincial funding through income assistance, affordable housing or disability support programs.Credit counselling services. Services like Credit Counselling Society Saskatchewan may be able to help you consolidate your debts and figure out a budget.Debt relief services. If you’re finding yourself in a vicious cycle of debt, a debt relief company may be an option.Borrowing from friends or family. If you’re struggling with bad credit, you might like to ask friends or family for a more flexible, interest-free loan.Credit builder loan. Check with your local credit union to see if you qualify for a credit builder loan. These loans are designed to help you build your credit score by reporting your on-time payments to the credit bureaus. But you won’t get the loan funds until after you make all your payments.What to watch out for with bad credit loans in SaskatchewanExpensive. Bad credit loans come with very high interest rates up to 46.96%. They’re higher for payday loans.Hidden fees. You may end up paying more than you bargained for if you don’t carefully check your loan agreement for fees. Compare your loan’s annual percentage rate (APR) with your interest rate. If they’re very different, you may be paying too much.Predatory lenders. Watch out for personal loan scams when searching for bad credit loans. Make sure the lender is registered in Saskatchewan, that they’re transparent about loan costs and that they have a solid online presence and good reputation.Learn more about the best bad credit loans in Saskatchewan1. LoanConnect
$100 – $50,000
Loan amount
6.99% – 46.96%
APR
3 – 120 months
Term
LoanConnect maintains a large database of lenders and matches you with several offers based on your unique profile. Get your loan as soon as the same day. Full Review
Why we chose it
Large lender network. LoanConnect works with over 30 verified and vetted lenders with proven reputations.
Easy to compare offers. Fill out one application to compare offers from multiple lenders, and log in regularly to see if new offers are available.
Secured and unsecured loans. Find a secured loan if you have an eligible asset or get a loan with no collateral.
Pre-approval in five minutes
Options for all credit scores, including poor credit
BBB-accredited with an A+ rating
Fast funding
Secured and unsecured options
Not a direct lender
High rates for bad credit
Miss out on offers from lenders not partnered with LoanConnect
Loan amount
$100 – $50,000
APR
6.99% – 46.96%
Term
3 – 120 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Turnaround Time
Receive funds within as little as 24 hours.
Serviced Provinces
All provinces
2. Loans Canada
$300 – $50,000
Loan amount
5.4% – 46.96%
APR
4 – 60 months
Term
Loans Canada is an online broker partnered with over 60 lenders. Fill out one application and find out your matches for free. Full Review
Why we chose it
Save time. Your application will be cast wide and you’ll get your results right after you apply.
Get approved. Only see lenders that match your profile.
Established company. Loans Canada has been in business since 2012. It has BBB accreditation with an A+ rating.
Easy online application
Quick deposits
High loan amounts of up to $50,000
No collateral required to secure your loan
Interest rates can reach as high as 46.96%
No online quotes provided
Loan amount
$300 – $50,000
APR
5.4% – 46.96%
Term
4 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Turnaround Time
Receive funds within as little as 24 hours.
Serviced Provinces
All of Canada
3. Spring Financial
$500 – $35,000
Loan amount
9.99% – 46.96%
APR
6 – 60 months
Term
Spring Financial offers fast approval and funding. If you don’t qualify for a bad credit personal loan, however, it’ll offer you its credit builder loan. With this loan, you won’t access the loan funds until after you’ve made all your payments on time. Full Review
Why we chose it
Established lender. Spring Financial has been providing bad credit loans in Canada since 2015 and has over 200 employees.
Helps improve your credit score. It reports payments to the credit bureaus.
Same day funding. If you provide the required documents, you can get your bad credit loan the same day you apply.
100% online
Fast funding via e-Transfer
No prepayment penalties
High rates for bad credit
C- BBB rating, received complaints about the credit builder loan
Loan amount
$500 – $35,000
APR
9.99% – 46.96%
Term
6 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
500
Fees
No fees except $30 NSF fee
Turnaround Time
Within 24 hours
Serviced Provinces
All of Canada
4. Loanz
$1,000 – $15,000
Loan amount
29.9% – 46.9%
APR
12 – 60 months
Term
Loanz has a fast application process so you can get your money on the same day you apply. You just need to sign up for instant bank verification (you’ll wait longer for manual verification). Full Review
Why we chose it
Fast. Apply and connect with your banking details to get instant approval and receive funds in as little as 15 minutes.
Reports to credit bureaus. Loanz indicates that it will report every payment to the credit agencies, which is a perk that not all bad credit lenders offer.
Flexible eligibility requirements. Apply with bad credit and different forms of income, including government assistance.
Simple online application
Positive customer reviews
No prepayment penalties
High starting rates (29.9% and up)
Undisclosed fees
Loan amount
$1,000 – $15,000
APR
29.9% – 46.9%
Term
12 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
570
Fees
N/A
Turnaround Time
24 hours or less
Serviced Provinces
All of Canada (excluding Quebec)
5. Fairstone
$5,000 – $50,000
Loan amount
19.99% – 24.49%
APR
36 – 120 months
Term
Fairstone offers personal loans to customers with low credit. Apply online or visit a store in person. Full Review
Why we chose it
Apply without impacting your credit score. Fairstone will only do a soft credit check to pre-approve you for a loan, so it won’t affect your credit.
Fast approvals. Apply for your loan in minutes and get a quick call from a loan agent to finalize your loan details, with funds deposited in 24 hours or less.
Secured and unsecured options. Apply based on your credit score or use your house to secure your loan to get lower interest rates.
Quick and easy application
Many loan types (unsecured, secured, mortgages)
Company has an established online presence
No prepayment penalties for unsecured loans
High rates for bad credit (up to 39.99%)
Potential for extra fees
Prepayment penalties for secured loans
Several negative customer reviews
Loan amount
$5,000 – $50,000
APR
19.99% – 24.49%
Term
36 – 120 months
Interest Rate Type
Fixed
Min. Credit Score
560
Fees
Varies by province
Turnaround Time
2+ days
Serviced Provinces
All across Canada
6. easyfinancial
500 – $100,000
Loan amount
9.99% – 46.96%
APR
9 – 120 months
Term
easyfinancial helps Canadians access financing when banks aren’t an option. It offers loans, financial education and the opportunity to rebuild your credit. Full Review
Why we chose it
Apply without impacting your credit score. Apply without impacting your credit score. Apply in minutes with no commitment and it won’t affect your credit score.
Fast approvals. Get your money through Interac e-Transfer in as little as two hours after getting approved.
Helps improve your credit score. According to easyfinancial, one in three customers graduate to prime rates after making regular, on-time repayments.
Many loan types (unsecured, secured, business)
Large loan amounts &ndash
up to $20,000 for unsecured loans and $100,000 for secured loans
2% rate reduction with a co-applicant
High starting rates for unsecured loans (29.99%)
Many negative customer reviews
Loan amount
500 – $100,000
APR
9.99% – 46.96%
Term
9 – 120 months
Interest Rate Type
Fixed
Min. Credit Score
300
Turnaround Time
Within 30 minutes
7. Money Mart
$500 – $15,000
Loan amount
29.9% – 46.9%
APR
12 – 60 months
Term
Money Mart offers installment and payday loans. There’s no penalty to pay off your loan. Full Review
Why we chose it
Fast. Fill out an application with quick approval and get your funds in under five minutes.
Apply online or at one of its many locations. Apply online, through the Money Mart mobile app or at a store.
Flexible eligibility requirements. You’re likely to qualify as long as you have a chequing account and a regular source of income.
Established lender
Convenient mobile app
Accepts non-employment income such as government benefits and private pension
High interest rates
Availability in provinces varies in-store and online
NSF and late payment fees
Loan amount
$500 – $15,000
APR
29.9% – 46.9%
Term
12 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
None
Turnaround Time
Less than 1 day
Serviced Provinces
AB, BC, MB, NB, NL, NS, ON, PEI, SK
8. Lend for All
$300 – $50,000
Loan amount
Starting at 5.9%
APR
12 – 60 months
Term
Lend for All is a loan-matching company that uses an automated process to match consumer and business applicants with various lenders and financial institutions. Full Review
Why we chose it
Partnered with lenders. It works with a network of lenders that offer quick approval for customers with bad credit.
Fast pre-approvals. Lend for All provides quick approvals within minutes by doing a soft check on your credit report.
AI technology gives you viable loan matches
Potential for multiple offers
Many loan types
Online broker (not a direct lender)
Small network of lenders compared to other brokers
Most partner rates are above 20% for unsecured loans
Loan amount
$300 – $50,000
APR
Starting at 5.9%
Term
12 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
Varies by lender
Serviced Provinces
All provinces
9. marble Fast Track Loan
$5,000 – $15,000
Loan amount
18.99% – 24.99%
APR
36 – 84 months
Term
marble provides loans to people dealing with a consumer proposal. It works with your trustee to pay off your entire consumer proposal to help immediately increase your credit score. Full Review
Why we chose it
Loan to exit consumer proposal. marble offers specialized loans for people struggling to pay off a consumer proposal.
Improves credit score. Your credit score will increase as soon as you pay off your consumer proposal, and it will go up further as you pay off your marble loan.
BBB-accredited with an A+ rating. The company has been in business for seven years and has an A+ rating with BBB, with very few customer complaints.
Rates are 18.99% to 24.99% (lower than most consumer proposal exit loans)
Affordable monthly payments
Instantly improves your credit score
Funds can only be used to pay off a consumer proposal
Admin and legal fees
Rates may be higher than what you’re currently paying
Loan amount
$5,000 – $15,000
APR
18.99% – 24.99%
Term
36 – 84 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
Marble Fast-Track loans come with legal and administrative fees ranging between $295 and $1,500
Turnaround Time
Within 24 hours (during business days/hours)
Serviced Provinces
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Newfoundland & Labrador
10. Capital One Guaranteed Mastercard
Capital One Guaranteed Mastercard
N/A
Min. credit score
$59
Annual fee
n/aRewards
n/a Welcome offer
Capital One’s Guaranteed Mastercard is designed for people who want to establish or repair their credit without taking out a loan.
Why we chose it
Improves credit score. This credit card is dedicated to boosting your credit, with payments reported regularly to the credit bureaus.
Travel benefits. With this card, you’re covered under common carrier travel accident insurance, baggage delay and car rental damage.
High chance of approval. You should qualify as long as you’re the age of majority and aren’t in bad standing with Capital One. Some other criteria may apply.
The card comes with extended warranty and purchase protection
Capital One offers protection against fraud
May be able to get a $7,000 limit
Annual fee of $59
High interest rate of 19.8%
Security funds may be required
Annual Fee
$59
Purchase APR
19.8% fixed
Cash Advance Rate
21.9%
Balance transfer APR
19.8% fixed
Welcome offer
N/A
Rewards
N/A
Please note: All information about Capital One Guaranteed Mastercard has been collected independently by Finder and this card is not available through this site.
Frequently asked questions
Where can I get a bad credit loan in Saskatchewan?
Most bad credit loans come from online or payday lenders. It will be much more difficult to get a loan from a bank or credit union when you have poor credit because they have stricter eligibility requirements.
Can you get no credit check loans in Saskatchewan?
Will taking out a bad credit loan in Saskatchewan hurt my credit score?
In most cases, no. If the lender does a hard credit check to assess your application, your credit score will dip a little. The only time a bad credit loan will damage your credit score is if you make late payments or default on your loan.
What can I use a bad credit loan for in Saskatchewan?
There typically aren’t any restrictions on how borrowers can use their funding from a bad credit loan. You can use the cash to pay off bills, make major purchases, pay for car repairs or pay for other financial emergencies.
