Summary
You can get an installment loan in Saskatchewan with bad credit. Through CashGo, you apply once and get matched with lenders in our network that typically offer $300 to $3,000, repaid over 90 to 120 days at 22% to 32% APR. Saskatchewan doesn't have separate high-cost credit rules, but its cost of credit law requires lenders to show you the APR and the total cost before you sign, and lets you repay early without a penalty. A Saskatchewan payday loan can cost up to $14 for every $100 borrowed: on $500, that's $70 due on your next payday, compared with about $25 spread over seven payments for a typical installment loan.
How installment loans work in Saskatchewan
An installment loan is a personal loan you repay in equal, scheduled payments that line up with your pay, whether you're paid weekly, every two weeks, twice a month or monthly. Each payment covers part of what you borrowed plus interest.
You apply once online, from anywhere in Saskatchewan. CashGo sends your application to lenders in our network. A lender that can help contacts you and asks you to complete Instant Banking Verification, a read-only look at your recent transactions; you don't need to send ID or paperwork. The lender then shows you the rate, every fee and the total you'll repay, and deposits the money once you sign its contract, often the same day.
CashGo is not a lender. Each lender sets its own rate, fees and schedule.
Saskatchewan's rules for installment loans
Saskatchewan doesn't have a separate licensing system for high-cost installment lenders, as BC and Manitoba do. Installment loans fall under The Cost of Credit Disclosure Act, 2002, which gives you these rights:
- Before you sign or make any payment, the lender must give you a disclosure statement that includes the APR and the total cost of credit.
- You can repay the whole balance at any time without a prepayment charge or penalty.
- If you pay off a fixed loan early, part of the non-interest charges must be refunded or credited to you.
- You can make partial prepayments on any scheduled payment date, or at least monthly.
The federal limit of 35% APR, including fees, applies to every installment loan.
Payday loan rules in Saskatchewan
- Since January 1, 2025, federal law caps the cost of a payday loan at $14 for every $100 borrowed. Saskatchewan's own regulation still shows the old $17 figure.
- Payday loans are for $1,500 or less and 62 days or less, and a loan can't be more than 50% of your net pay during its term.
- You can cancel before the end of the business day after you sign.
- Lenders can't roll over or refinance a payday loan, and you can only have one at a time.
- If you can't repay, the lender can charge interest of 30% a year on the unpaid principal and a $25 fee for a bounced payment, only once per loan, and can retry a pre-authorized payment only once.
- A lender can't make the loan due before your next payday, and each location needs a licence.
What an installment loan costs in Saskatchewan
Most lenders in our network offer these terms. They were last reviewed November 2026.
| Loan amount | $300 to $3,000 |
|---|---|
| Annual percentage rate (APR) | 22% to 32% |
| Repayment period | 90 to 120 days |
| Payments | Weekly, every 2 weeks, twice a month or monthly |
| Membership fees | May apply, included in the total your lender shows you |
The same $500, two ways
| Saskatchewan payday loan | Installment loan at 32% APR | |
|---|---|---|
| How you repay | All at once on your next payday | 7 payments every 2 weeks over 98 days |
| Each payment | $570.00 | About $74.98 |
| Cost of borrowing | $70.00 | About $24.86 |
| Total repaid | $570.00 | About $524.86 |
Payday loan at the $14 per $100 maximum. Installment example at 32% APR, the top of the typical range, before any membership fees; your lender's figures may differ.
Under the Criminal Code, lenders in Canada can't charge more than a 35% annual percentage rate, including fees and other costs of getting the loan. That limit has applied since January 1, 2025. Estimate payments for your own amount.
Checking a lender and making a complaint
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) licenses payday lenders and other lenders. Use FCAA411 to check whether a business is licensed or registered. For a payday loan problem, file a complaint with the FCAA or call (306) 787-6700. For other lenders, try to resolve it with the company first; if that fails, complain to the Superintendent of Financial Institutions.
Before you sign, read the rate, every fee and the total you'll repay, and ask whether you can pay the loan off early.
Who can apply in Saskatchewan
- Be 18 or older
- Have a full-time job or steady self-employed income
- Not be in bankruptcy
- Be a Canadian citizen
- Have an online bank account you can verify
Bad credit doesn't rule you out, because lenders look mainly at your income and recent banking. You can apply from anywhere in the province, whether you live in Saskatoon, Regina, Prince Albert, Moose Jaw, Swift Current, Yorkton and North Battleford or somewhere else. Applying doesn't commit you to a loan; you only agree to one when you sign a lender's contract.
Free help with debt in Saskatchewan
If you're borrowing to keep up with other debts, talk to a non-profit credit counsellor first. Non-profit counsellors offer free or low-cost help: they can work through a budget with you and may arrange lower payments with your creditors.
- The Credit Counselling Society is a non-profit with offices in Regina and Saskatoon. Its counselling is free; a fee applies only if you join its debt management program.
- Credit Counselling Canada lists accredited non-profit credit counsellors. No reputable agency charges for a first meeting.
Our guide to payday loan alternatives compares cheaper ways to borrow.
Apply for an installment loan in Saskatchewan
One application, matched with lenders in our network. The only check is an online bank verification, and there are no documents to upload.
Sources
- Saskatchewan, The Cost of Credit Disclosure Act, 2002: disclosure and prepayment rights.
- Saskatchewan, The Payday Loans Act and Payday Loans Regulations: payday loan rules.
- Government of Canada, Criminal Interest Rate Regulations: the 14% payday loan cost limit.
- Financial and Consumer Affairs Authority, Borrowing from a payday lender: rollovers and one loan at a time.
- Financial Consumer Agency of Canada, Payday loans: provincial payday loan cost limits.
- Criminal Code, section 347: the 35% annual percentage rate limit.
- Credit Counselling Canada: accredited non-profit credit counsellors.
- Typical network terms, last reviewed November 2026. Installment payments calculated with equal installments, interest per period = APR × days in period ÷ 365.
This page is general information, not financial or legal advice. Lenders set their own terms, and provincial rules change; check your contract and the sources above for your situation.