Home » Guaranteed Payday Loans No Matter What Canada – Do They Exist?

Guaranteed Payday Loans No Matter What Canada – Do They Exist?

Guaranteed Payday Loans No Matter What Canada - PaydayCity.ca

The pandemic situation has an adverse effect on working people unable to even manage the average monthly expenditures. Loss of job, the shutdown of offices, pay cuts, low salary, and because of several other reasons, a majority of working-class in Canada is facing an acute financial shortage unable to make both ends meet.

At such times, when you are in monetary crisis and find a way out of this trouble, then chances are high that someone will suggest you apply for guaranteed approval payday loans. At first time, you might this it is a feasible idea to arrange instant cash from guaranteed payday loans Canada that has its tagline as “Guaranteed”, but lathich is different as per the following cities.er you find the different side of the story.

So, to clear this dilemma as to whether payday loans with guaranteed approval really exist in 2022. Payday City has come up with this blog to supply you with the necessary information.

Things you should know about guaranteed payday loans Canada

Looking for guaranteed payday loans no matter what in Canada? Payday loans where applicants are convinced with the fact that loan applications will be approved, no matter what. But in reality, such loans do not even exist in Canada and not before that. You have got to understand the fact that lenders offer loans to certain individuals who are in urgent need of cash and knock on the door of the online lender for it.

The creditors check the repaying capacity of the borrower and in no way risk the bank’s money in the hands of a risky defaulter. Therefore, first, clear the air that there is nothing like guaranteed payday loans exist. There are obvious chances of facing loan rejection on the grounds of not having sufficient income to prove, incomplete personal details, and more.

For example, in traditional banks, the level of risk is very low because private lenders loans accept the application of only 20-25% of borrowers having a good credit score and income spectrum. Whereas, 70-80% of applicants have been rejected. On the other side, the approval rate is almost 90% through online payday lenders on the ground that no such strict rules and terms & conditions are maintained. But borrowers need to understand the hidden fact of paying high-interest rates and loan charges at the end.

Still, several borrowers applied for payday loans post Covid-19 scenario with a view to settling unexpected financial crunches. As per the survey conducted by Acorn, 80% of borrowers who have taken out payday loans mainly for the purpose of meeting monthly expenditures like rent, medical bills, groceries, hydro, etc. 40% of the borrowers who have been rejected by the traditional banks got much-needed financial support from online payday loan lenders.

Why there is no such thing as guaranteed payday loans in Canada?

In order to reiterate the claim that there is no such thing exist as guaranteed payday loans in Canada even in 2021-2022 when the fiscal condition of many is on the grounded side. We have to provide you with a fact that no lender will take the risk of giving money to a borrower who is unable to repay. Especially, under the circumstances that payday loans with guaranteed instant approval are meant for the short-term duration only and that is of 14 days, APR rate of more than 400%, and the high-interest rate which is different as per the following cities.


Interest Rate (2-Week Term) Fees Per $100 (2 Weeks) APR









British Columbia








Nova Scotia


$19 495%
Saskatchewan 17% $17


Prince Edward Island




From the above, you can make out the cost associated with payday loans which are always on the higher side. So, why any online private lender would take the risk of offering a loan when the borrower’s application is to be rejected during the initial stage itself.

Best alternatives to guaranteed instant approval loans?

So, to help out Canadian people looking for ways to arrange some quick cash, Payday City has come up with some alternatives to a guaranteed approval for bad credit payday loans.

:- Personal Loan: One of the alternatives you have is to apply for unsecured personal loans with bad credit in Canada to arrange cash for a considerable amount of time and not like for 14 days repayment period. For this, you need to maintain your credit position in a stable condition to convince the lender that you can repay well on time

:- Credit Card Lending: Credit card advance cash is one of your saviors to arrange some emergency cash without falling into any debt trap. The interest rate charged under credit card cash advance is low. For example, if you withdraw cash from your credit card using an ATM, then you will be charged with a $5 cash advance fee and the interest rate could be up to 22.99%.

:- Line of Credit: Line of credit is another viable option for you to arrange some emergency cash. Especially in the sense of having equity in your home that can allow you to arrange plenty of cash at reasonable terms and conditions.

:- Guarantor Loan: In case you do not qualify for any loan, then take the help of a guarantor who is in a good credit position and can help you apply for a loan in his/her name. These loans are pretty cheap as compared to other financial sources.

:- Payday Advance: It is a special service for working individuals to get an emergency cash advance of $100 from the upcoming paycheque and the same is deducted on the salary day. There is no interest rate and a late payment fee is charged in this financial offer.

:- Overdraft Protection: If you have overdraft protection on your chequing account, then you have the liberty to avail overdraft monetary protection facility. Overdraft protection has limits and you can easily pull off some cash at an interest up to 22% per annum.

:- Emergency Fund: It is not a loan but a financial strategy for people to save some cash for emergency circumstances. You can have some funds in advance to meet fiscal issues at any point in time.

:- Micro-Investing: Investing in micro-investing is one of the ways to arrange some cash during emergency circumstances. This is unlike the big investment but a small one to make your monetary position goes strong in the long run.

Wrapping Up

Unexpected financial crises can happen at any point in time and you can avail of the necessary payday loan fiscal aid here to stay away from the troubles. PaydayCity is here to make your fiscal worries go away and meet the desired outcome in a hassle-free manner.

Apply for guaranteed payday loans no matter what Canada 24/7  with 100% quick approval from direct lenders response. 


Related Posts

Thanks for reading!

If you liked the article, consider sharing it with a friend or colleague who might be interested, and click here to see all other posts.