Cash Money

How Does an
Installment Loan Work?

There are 3 basic steps to getting an installment loan.

  • 1

    Apply Online or In a Store

    (availability varies by province)
  • 2

    Get Your Cash

    (upon approval)
  • 3

    Pay Back Over Time

How to Apply for an Installment Loan or Personal Loan

There are a few options when applying for an installment loan including online, in a store or over the phone. Some steps in the process may vary depending on how you apply, but they all have the same basic process.

Apply Online

You can apply for an installment loan online from your phone, computer or tablet in Alberta. Upon approval, your loan funds can be direct deposited to your chequing account, you can immediately pick up your cash at a store, or you can select INTERAC e-Transfer® to get your funds in as little as one hour.

Apply at a Store

If you prefer to have a representative walk you through the process you can apply at a Cash Money store. The application process takes only minutes, and you will receive an instant lending decision. If you’re loan is approved, we’ll give you your cash right away, up to your approved loan amount.

Apply Over the Phone

When you loan by phone a Customer Service representative will walk you through the application and enter the information for you.

Have the following information to complete the application:

  • ID Showing You’re 18 or Older
  • Income Information
  • Chequing account in your name
    (you will need to provide your branch transit number, financial institution number and your bank account number)

Once your application is complete, you will receive a lending decision over the phone. If approved, you can go online to sign your loan documents electronically. Once you have agreed to the loan terms by signing your documents, you can choose INTERAC e-Transfer® as your funding method to get your cash in as little as 1 hour or have the option to pick up your funds in cash at a nearby store.

Installment Loan Questions

Cash Money installment loans range from a minimum of $500 to a maximum of $5,000.

You will need to provide the following:

  • Personal Information including your phone number, home address and date of birth
  • A valid ID showing that you are at least 18 years old and a Canadian citizens
  • Source of income
  • An open and active bank account

You could get a lending decision the same day you apply if all required information is submitted.