If you want to get a loan online using your Canada Child Benefit (CCB or CCTB), you can get a personal loan, cash advance or payday loan. CCTB payday loans are one of the easiest loans to get, but they are expensive and should be a last resort. Explore your options for online child tax loans here.
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Get a child tax loan from these personal loan companies, many of which offer funding the same or next day. Some providers work with bad credit applicants. But if your financial profile isn’t strong, be prepared to pay higher interest rates.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Installment Loan | 8.99% - 46.96% | $500–$2,500 | 3 - 6 months | Loan search platform, pre-approval in 5 minutes | |
 Installment Loan | 9.99% - 46.99% | $500–$35,000 | 6 - 60 months | Established lender, 100% online, can help build credit | |
 Installment Loan | 9.90% - 46.96% | $500–$50,000 | 4 - 60 months | Loan search platform, largest lender network | |
 Line of Credit | 19.90% - 34.90% | $1,000–$15,000 | Open | Apply online, same business day funding available |
These cash advance providers offer small instant loans that are easier to get than traditional personal loans. You pay no interest on these cash loans, but you may pay a monthly subscription fee.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Credit Line | 0% interest with optional fees | $30 – $250 | 30 days, extendable | Instant approval, no credit check and funding within 30 minutes with a monthly subscription | |
 Cash Advance | 0% interest with a subscription fee starting at $2/month | $20–$250 | Flexible | Easy application, no credit check, instant access to funds | |
 Early Pay | 0% interest with a $2.99 monthly membership fee | $20–$350 | Next pay cycle (61 days max.) | Easy to apply, no interest, same-day funding for a small fee, no credit check |
Some payday lenders offer child tax loans with instant approval. But the cost is very high, and most lenders require full repayment the next time you get paid. As such, this should be a last resort.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Payday Loan | Varies by province | $100 – $1,500 | 7 - 62 days | 24/7 approval and e-transfer, accepts bad credit | |
 Payday Loan | Varies by province | $100 – $1,500 | 5 - 40 days | Easy application, instant decisions, e-transfer in as little as 15 minutes | |
 Payday Loan | Varies by province | $250 – $1,500 | Up to 62 days | Apply in-store or online, funding within 1 hour via e-transfer, no credit check | |
 Payday Loan | Varies by province | $100 – $1,500 | Up to 62 days | Approval and funding 24/7, e-transfer funding within minutes |
Basic requirements for payday loans that accept child tax include the following:
With many online child tax loans available, which lender do you choose? Consider the following:
Yes, there are e-transfer payday loans in Canada that are available 24/7 and that accept child tax benefits. For example, lenders like iCash and PAYDAY both offer 24/7 child tax loans. Pay2Day also offers 24/7 e-transfer payday loans with no credit check.
With 24/7 child tax loans, you can apply any time, get an instant decision and get funded via e-Transfer within minutes after approval. The fastest 24/7 child tax loans can be completed in less than an hour online, even if you apply in the middle of the night. This is because payday lenders have automated systems that allow them to give approval and funding 24/7.
Not all payday lenders provide 24/7 child tax loans, so if you’re searching for this, find a lender that offers the following:
Yes. Whether you’re in Ontario, BC, Alberta or another province, there are payday lenders that can accept child tax credit without a credit check. Rather than looking at your credit score, these child tax loan payday lenders will focus on your monthly income and debts.
You’ll need to give them your recent bank statements, and to get approved, your statements need to show you have enough income to repay a child tax payday loan.
Since payday loans are provincially regulated in Canada, the overall cost of payday loans that accept child tax will vary based on where you live. Here’s a breakdown of how much a $500 payday loan would cost:
| Province | Cost per $100 | Total fee | Total repayment amount |
|---|---|---|---|
| Alberta | $15 | $75 | $575 |
| British Columbia | $15 | $75 | $575 |
| Manitoba | $17 | $85 | $585 |
| New Brunswick | $15 | $75 | $575 |
| Newfoundland and Labrador | $14 | $70 | $570 |
| Nova Scotia | $17 | $85 | $585 |
| Ontario | $15 | $75 | $575 |
| Prince Edward Island | $15 | $75 | $575 |
| Saskatchewan | $17 | $85 | $585 |
Certain installment loan providers offer child tax loans by accepting the Canada Child Benefit as a valid source of income.
Unfortunately, no. Installment loans have stricter requirements than payday loans and are often harder to get. Lenders of child tax installment loans will need to manually look at your application at some point before sending funds, and they typically do not have staff working 24/7.
Some payday lenders can offer 24/7 child tax loans online because their processes are more automated.
Basic requirements for an installment child tax loan include the following:
If you want an installment loan that accepts child tax, lenders will have stricter requirements than payday loan providers and often require a credit check. Some lenders of child tax installment loans don’t do credit checks, but you might be approved for less money and pay higher interest.
Be aware that scammers use the promise of “no credit check” loans to get applications with personal information.
As mentioned, installment loans that accept child tax are harder to get than payday loans. If your financial situation is too risky for the lender—for example, you have poor credit and/or not enough income—the lender may offer other products to you, such as a credit builder loan.
With a credit builder loan, you won’t receive money until you make a series of on-time payments, usually for at least 6 to 12 months. And if you miss payments, you won’t get the loan. Make sure a credit builder child tax loan is right for your financial situation before you sign up for one.
Child tax installment loans typically come with interest rates between 18% and 47% and loan terms of 3 - 60 months. You can typically borrow up to $10,000.
The interest rate, loan term and amount you qualify for will depend on factors like your total income and credit score. You can use the calculator below to price out how much a child tax installment loan could cost you every month and overall.
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Compare personal loans that accept child tax
Early pay advances offer small, short-term loans that typically must be paid back with your next paycheque.
Yes, you can often get an early pay advance child tax loan via e-transfer 24/7, depending on the company you opt for. Many of these options operate entirely on apps or online, so these early pay advances can be often be processed immediately and transferred to your account in as little as a few minutes. Keep in mind that standard funds delivery will typically take up to 3 days, unless you pay an additional fee for faster transfer.
Basic requirements for early pay advance child tax loans tend to include the following:
Yes! Many early pay advance apps like Nyble don’t do credit checks during the approval process. These companies focus on assessing your ability to repay the loan by looking at factors like having a history of regular income and little or no NSF transactions.
Compare early pay advances that accept child tax
This depends on the type of loan you get. If you get a payday loan, the cost will depend on the maximum borrowing fee that your province allows for payday loans. If you get an installment loan, it depends on the APR you’re offered. Below is an example of how much a $500 loan may cost in both cases in Ontario.
Anna, a resident of Ontario, is in urgent need of a $500 loan due to some unexpected expenses. She needs a loan within two days. Thanks to a free copy of her credit report from Equifax, she knows her credit score is 589. Anna has two children and receives the Canada Child Benefit, which she’ll receive in about three weeks. She searches for child tax loans in Ontario.
Based on these factors, Anna narrows down her child tax loan choices to payday loans and installment loans.
| Payday loan that accepts child tax benefit in Ontario | Installment loan that accepts child tax benefit in Ontario | |
|---|---|---|
| Loan amount | $500.00 | $500.00 |
| Cost of loan | $15 per $100 borrowed = $75 (260.71% APR) | 46.93% APR |
| Loan term | 21 days | 6 months |
| Payment amount | One full payment of $575 | $95.10 monthly for 6 months ($70.63 in total interest) |
| Total loan cost | $575 | $570.63 |
In this case, the installment loan is nearly as expensive as the payday loan if you’re comparing the dollar amounts. But looking ahead, Anna doubts she’ll have enough income left over to pay for her other debts once she repays her $575 CCTB payday loan on the due date. Without enough income, she might have to take out another payday loan.
Thinking that 6 monthly payments of $95.10 would be more manageable and would put less strain on her current finances, she chooses the installment loan.
*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.
According to data from the Finder: Consumer Sentiment Survey Q2, the use of payday loans is on the rise with 44% using these short-term loans in Q1 2023, compared to 19% in Q4 2022.
One of several “baby bonuses” paid from the government to parents, the Canada Child Benefit (CCB) is a tax-free payment provided to families to help with the costs of raising children. The maximum benefit is around $7,437 annually ($619.75 per month) per child under 6 and $6,275 annually ($522.91 per month) per child aged 6 to 17. The exact amount each family gets depends on their annual income and each child’s age.
In order to get the Canada Child Benefit you must meet several qualification requirements, including:
For more details on who can apply for the Canada Child Benefit, check out the Government of Canada’s CCB website.
Canada Child Benefit payments are paid out monthly, usually around the 20th. You can expect to receive your first baby bonus payment within 8 weeks of submitting an online application (if approved). Here’s the 2024 baby bonus payment schedule for recent and upcoming payments:
You can use your Canada Child Benefit (CCB) to help you qualify for loans that accept child tax. You can get a payday loan, installment loan or early pay advance. Payday loans are the most expensive, but they have more flexible eligibility criteria. Early pay advances tend to be the most affordable child tax loan option, but they only allow very small loan amounts.
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