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Installment loans in British Columbia
Borrow $300 to $3,000 and repay it over three to four months, in payments that match your pay schedule. Bad credit can still be approved.
Reviewed November 5, 2026 by the 911cash team. Rules come from official provincial and federal sources, listed at the end of this page. Dollar figures are examples for illustration only.
In short
Yes. Bad credit doesn't stop you from applying in British Columbia. One 911cash application reaches lenders in our network, which usually lend $300 to $3,000 over 90 to 120 days at an APR between 22% and 32%. In BC, a loan priced above 32% APR counts as high-cost credit, and only lenders and brokers licensed by Consumer Protection BC may offer or arrange it. A BC payday loan, by comparison, can charge $14 for every $100: borrow $500 and you owe $570 in one payment, while a typical installment loan costs about $25 in interest across seven payments.
Getting an installment loan in British Columbia, step by step
- Apply once. The 911cash application takes about five minutes on a phone or computer, from anywhere in British Columbia.
- A lender reviews it. We pass your application to lenders in our network. One that can help contacts you and asks you to complete Instant Banking Verification, a read-only look at your recent transactions. There are no documents to upload.
- Read the contract. The lender shows you the rate, every fee and the total you'll repay before you agree to anything.
- Get the money. Funds are deposited once you sign, often the same day.
911cash is not a lender. The lender that approves you sets the rate, fees and payment dates.
BC's rules on high-cost loans
Since May 1, 2022, British Columbia has regulated high-cost credit. Your loan falls into that category when you borrow for personal, family or household use and the APR is over 32%. Every business that offers or arranges this kind of credit in the province must be licensed by Consumer Protection BC, and that includes loan brokers.
When a loan you're offered carries an APR over 32%, you get these added protections:
- Your agreement has to list the APR, the annual interest rate and the credit's total cost in dollars.
- You have until the end of the following business day to cancel.
- Fees the lender didn't disclose aren't allowed, and neither are charges for early repayment.
- Buying an optional product, such as insurance, can't be a condition of getting the loan.
- You're entitled to a copy of the agreement at the time you sign.
The lenders 911cash works with usually charge between 22% and 32% APR. Get the exact APR from your lender before signing, so you can tell whether BC's high-cost credit rules cover your loan.
What BC law says about payday loans
- With all charges and fees counted, a payday loan's cost is capped at $14 per $100 you borrow.
- The most you can borrow is $1,500. The loan has to be repaid within 62 days and can't exceed 50% of your paycheque.
- Cancelling within two business days costs you nothing extra.
- You can hold only one loan at a time. Lenders aren't allowed to roll a loan over or issue a new loan to repay an existing one.
- A third payday loan taken within two months can be repaid in instalments.
- You may pay off the full amount at any point before the due date, with no extra charge.
What an installment loan costs in British Columbia
Typical terms of the lenders in our network, last reviewed November 2026. Your lender's offer may differ.
- Amount
- $300 to $3,000
- Repaid over
- 90 to 120 days
- Annual rate (APR)
- 22% to 32%Based on the risk of the application
- Membership fees
- May applyIncluded in the total your lender shows you
Borrowing $500 in British Columbia: payday loan vs installment loan
| BC payday loan | Installment loan at 32% APR | |
|---|---|---|
| How you repay | One payment 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 |
Example for illustration only. Payday loan at the $14 per $100 maximum. Installment loan at 32% APR, the top of the typical range, before any membership fees.
Under the Criminal Code, lenders in Canada can't charge more than a 35% annual percentage rate, counting fees and other costs of getting the loan. That limit has applied since January 1, 2025. Work out payments for your own amount.
Who can apply
- 18 or older
- A full-time job or steady self-employed income
- Not in bankruptcy
- A Canadian citizen
- An online bank account you can verify
Lenders look mostly at your income and recent banking, so a low credit score alone doesn't rule you out. You can apply from Vancouver, Surrey, Burnaby, Richmond, Kelowna, Victoria, Nanaimo and Prince George, or anywhere else in British Columbia. Applying doesn't commit you; you only agree to a loan when you sign a lender's contract.
Checking a lender
Payday lenders and high-cost credit lenders get their licences from Consumer Protection BC. Its website lets you look up whether a lender holds a licence and make a complaint.
Free help with debt
If you'd be borrowing to keep up with other debts, a non-profit credit counsellor can build a budget with you and may arrange lower payments with your creditors.
- The Credit Counselling Society, a BC-based non-profit, has offices throughout the province. You pay nothing for its counselling; there's a fee only if you enroll in its debt management program.
- For other accredited non-profit counsellors, see Credit Counselling Canada.
Before borrowing, see cheaper alternatives to payday loans.
Sources
- Consumer Protection BC, High-cost credit products: licensing, the 32% APR threshold, disclosures, cancellation and prohibited practices.
- Consumer Protection BC, Payday loans: the $14 per $100 maximum and borrower protections.
- Government of British Columbia, High-cost credit products: the May 1, 2022 start date.
- 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. Payments are equal installments, with interest per period = APR × days in the period ÷ 365.
General information, not financial or legal advice. Lenders set their own terms and provincial rules change, so check your contract and the sources above.
Apply from anywhere in British Columbia
One application, sent to lenders in our network. You only agree to a loan when you sign a lender's contract.