Bad credit Loans in Saskatchewan

Ready to apply? Enter your email and get up to $35,000 today.

Continue
Approval Within Hours | Same-Day E-Transfers

Receive promotions and updates from Spring Financial. It’s free and you can opt-out at any time. By clicking "Continue" you agree to the terms and conditions and privacy policy.

Google Reviews 4.7 Star Rating
Canadian Lenders Association - Consumer Lender of 2023
Trustpilot 4.5/5.0 12,000+ Reviews

How to Get Bad Credit Loans in Saskatchewan

In Saskatchewan, there are a few different ways to get bad credit loans. The most common way is by completing the application process online with alternative lenders instead of traditional lenders. These online lenders, like Spring Financial, can get you the funding you need fast, with reasonable interest rates. 

Depending on which financial institution you use, though, you may be able to get a bad credit loan through banks or credit unions. Many financial institutions will offer you a bad credit loan for loan consolidation purposes if you have a good relationship with them and are using the funds to pay off financial products that you have with them. They will still run your credit report, though.

How it works

1. Fill out our secure online application

Say goodbye to branch visits and long queues – everything can be done from the comfort of your device.

2. Get approved

Our dedicated team will promptly review your application and provide you with an approval within a matter of hours.

3. Receive your funds!

Once approved, receive your funds swiftly through a convenient e-Transfer directly to your bank account!

1. Fill out our secure online application

Say goodbye to branch visits and long queues – everything can be done from the comfort of your device.

2. Get approved

Our dedicated team will promptly review your application and provide you with an approval within a matter of hours.

3. Receive your funds!

Once approved, receive your funds swiftly through a convenient e-Transfer directly to your bank account!

Get a Loan Quote

How Much Can You Get With Bad Credit Loans?

In Saskatchewan there are a few main types of bad credit loans you can get. These are unsecured loans and secured loans. Both of these types of loans can help you get the funds you need, but they may not offer prime interest rates. With either type of loan, you can get anywhere from $500 to $50,000. Sometimes higher, depending on the purchase.

Unsecured and secured loans are both forms of installment loans. Unsecured loans are cash loans that are given to you with the assumption that you’ll pay the cashback. Secured loans are similar except for the fact that they require collateral. The most common types of secured loans are car loans, mortgages, and home equity loans. A common type of unsecured loan you may hear about is payday loans, but they cost much more than a traditional unsecured loan and offer lower loan amounts of around an average of $1,500. 

Credit Score Needed for a Bad Credit Loan

In Canada, the higher the interest rate that you’ll get approved for is based on your credit history as well as your credit score. Those with a good credit score (690 or higher) are more likely to get the best interest rates. That said, you can still get a loan with a bad credit score.

If you’re looking for an unsecured loan, it’s recommended that you have at least a credit score of 500 or higher. You can still get a bad credit loan with a score below 500, but your approval chances are lower. In a case like that, lenders will focus more on your credit history to see if you meet their minimum requirements.

Frequently Asked Questions

  • How do payday loans differ from personal loans?
  • How long does it take to receive the funds?
  • How do personal loans increase your credit score?
  • Why should you get a personal loan?
  • Do you have to be employed to get a loan?
  • How do you receive the funds from a personal loan?

Interest Rates on Bad Credit Loans in Saskatchewan

Depending on where you get your bad credit loan, interest rates can vary. If you take out a bad credit personal loan, interest rates in Canada can legally go up to 60%, including fees. However, the interest rates on payday loans can be 300% or higher. That said, bad credit personal loans can help improve your credit score, while payday loans can’t. 

With many bad credit loans, you can also repay the personal loan early with no prepayment penalties. This can also save you a lot of money in interest, depending on your loan term and the amount that you borrowed, by reducing the total cost. Most lenders, especially online-only lenders, offer this with their online loans.

Why choose Spring Financial?

spring
Max Amount $35,000
Interest Rates From 9.99%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Bank Loans
Max Amount $50,000
Interest Rates From 9.99%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Credit Cards
Max Amount $10,000
Interest Rates From $19.99%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Payday Loans
Max Amount $1,500
Interest Rates From 200-450%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Apply Now
*Information is based on averages and may vary by institution or lender. It is not intended to address specific circumstances or any individual case.

About Spring Financial

Apply From Your Device and Say Goodbye to Financial Stress

Experience the most convenient and hassle-free loan application, specifically designed for Canadians, by Canadians. Apply, get approved, and receive the funds via e-Transfer, all from the comfort of your device. Say goodbye to long queues and tedious paperwork! Our process is intentionally designed to be simple, fast, and straightforward.

Continue