Installment loans in Canada — repay over 90–150 days, not your next paycheque
An installment loan gives you the cash you need today, with manageable scheduled payments over 3 to 5 months. No credit check, no lump-sum repayment pressure, no hidden fees.
Free to apply · No obligation · APR 23% · Not available in QC, MB, or SK
What is an installment loan in Canada?
An installment loan is a type of loan where you borrow a fixed amount and repay it in scheduled payments over a set period — typically 90 to 150 days — rather than in a single lump sum at your next payday.
Each payment covers a portion of the principal plus interest, calculated at the agreed APR. By the end of the term, the loan is fully repaid. The payment schedule is set before you sign — you know exactly what you owe and when.
Captain Cash installment loans are designed for Canadians who need a short-term cash bridge — an unexpected bill, a gap between paycheques, or an urgent expense — and want to repay it gradually rather than all at once.
Unlike payday loans, which demand full repayment on your next payday, installment loans spread the cost over multiple pay cycles. This makes each payment smaller and less likely to leave your account empty.
Your payment schedule, explained
When you are approved, Captain Cash calculates a repayment schedule based on three inputs: your loan amount, your pay frequency, and your next pay date. You choose how often you want to pay — weekly, bi-weekly, or monthly — and your payments align to those dates automatically.
The schedule is shown to you in full before you sign. Every payment amount, every date, and the total cost of the loan are visible before any commitment is made.
If your financial situation changes, you can request a deferral with 48-hour notice for a $25 fee — the deferred payment is added to the end of your contract. You can also repay the full balance early at any time with no penalty.
Missed payment fee: $45 NSF fee if a scheduled payment cannot be processed. If you know a payment will be missed, contact us 48 hours in advance — a $25 deferral fee is far less disruptive than a $45 NSF charge.
Sample repayment schedule — $600 loan, bi-weekly
Sample shows 6 equal bi-weekly payments of $150 = $900 total for a $600 loan at APR 23%. Actual amounts vary. Full schedule shown before you sign.
Why an installment loan works better than a payday loan
Same speed, same accessibility — but a repayment structure that doesn't wipe out your paycheque.
Smaller, manageable payments
Instead of repaying $650+ in one lump sum on your next payday, you repay in equal installments over 3 to 5 months. Each payment is a fraction of your paycheque — not the whole thing.
Aligned to your pay cycle
Your repayment schedule is built around your actual pay dates — weekly, bi-weekly, or monthly. You are never paying on a random date. The money comes out when it is in your account.
Full transparency before you sign
Every payment, every date, the APR, and the total cost of borrowing are shown in your loan agreement before you accept. There are no surprises after approval.
Common reasons Canadians use installment loans
An installment loan is a short-term tool for a specific need — not a long-term solution. Here is when it works well.
Emergency car repair
Your car breaks down and you need it to get to work. A $600 loan covers the repair and repays over 12 weeks — you keep your job and your cash flow intact.
Unexpected home expense
A broken furnace, a leaking pipe, or appliance failure. A $800 installment loan gets the repair done now — repaid over 4 months before the problem gets worse.
Medical or dental bill
A prescription, dental work, or medical expense not covered by insurance. A $500 loan covers the cost and spreads repayment over 10 weekly payments.
Work equipment or essentials
A laptop, phone, or tools required for your job. A $600 loan lets you buy what you need now and repay comfortably over the following months.
Captain Cash recommends borrowing only for genuine short-term needs. Installment loans carry a real cost — APR 23%. If you are struggling with ongoing debt, contact the Credit Counselling Society at 1-888-527-8999 for free advice.
Eligibility requirements
Not available in QC, MB, or SK. Approval subject to eligibility verification. Meeting minimum criteria does not guarantee approval.
Full cost of borrowing
| Amount | APR | Term | Total repayment |
|---|---|---|---|
| $500 | 23% | 90–150 days | ~$750 |
| $600 | 23% | 90–150 days | ~$900 |
| $700 | 23% | 90–150 days | ~$1,050 |
| $800 | 23% | 90–150 days | ~$1,200 |
| $900 | 23% | 90–150 days | ~$1,350 |
| $1,000 | 23% | 90–150 days | ~$1,500 |
APR 23% on all loans. Repayment weekly, bi-weekly, or monthly. NSF fee: $45. Deferral: $25 with 48-hour notice. No application fee. No prepayment penalty — repay early at any time. Your exact schedule is shown before you sign. Borrow responsibly.
Common questions about installment loans
An installment loan is a fixed-amount loan repaid in scheduled payments over a set period — typically 90 to 150 days — rather than in one lump sum. Each payment covers principal plus interest. By the final payment, the loan is fully repaid.
Captain Cash reviews your income, employment stability, and bank account history instead of a credit score. If you earn at least $1,200/month by direct deposit and have 3+ months of stable employment, you may qualify regardless of your credit history. Your credit file is never pulled — applying does not affect your score.
The application takes about 5 minutes online. If approved before 2 PM ET on a business day, funds are sent by Interac e-Transfer the same day. Applications submitted after 2 PM ET or on weekends are processed the next business day.
Yes. You can repay the full outstanding balance at any time with no prepayment penalty. Early repayment reduces the total interest you pay — you only pay for the days you held the loan. Contact us before making an early repayment so we can stop any scheduled automatic withdrawals.
A missed payment incurs a $45 NSF fee. If you know a payment will be missed, contact us at least 48 hours in advance — a $25 deferral fee is applied and the payment is moved to the end of your contract. Missed payments do not affect your credit score at Captain Cash as we do not report to credit bureaus.
Captain Cash is licensed in Ontario, British Columbia, Alberta, Nova Scotia, New Brunswick, PEI, Newfoundland and Labrador, Nunavut, and the Northwest Territories. We are not currently available in Quebec, Manitoba, or Saskatchewan.
