iCash Loan App Reviews | How to Apply for iCash Instant Loan

iCash Instant loan, iCash loan interest rate, iCash loan contact number, how to apply, eligibility criteria & requirements

Everyone in their life must have come across a situation when money is urgently required. Thanks to digitization, it is very helpful in getting the amount credited to the account within an hour. In this post, you will learn How to Apply for an Instant loan from iCash Loan App | iCash Loan App Reviews?

Loan App NameiCash
Loan AmountUp to $1500
Interest RateRanges from $15 to $19

It is the greatest alternative to traditional payday loans. You can get up to $1500 as per the iCash terms & Conditions.

We will discuss various features & benefits, Charges, processes in detail but before let’s know about iCash.

What is iCash?

In the age where everything is going online through mobile, why wait for banks to get even short-term loans.

That’s where iCash came into existence.

iCASH is a safe short-term loan direct lender that makes it easy for Canadians to borrow money online in minutes.

It provides fast, easy, immediate same-day loans that can be credited to your bank account in an hour or less.

In short, you can say it is a lending App that’s designed for the way people live life in the modern, digital age.

It is a legitimate Canadian lender that provides quick loans online to Canadians in Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Nova Scotia, and Prince Edward Island.

Features & Services of iCash

Below you can find a list of features & benefits of iCash.

  • Safe instant loans online. no hidden fees.
  • Loan up to $1,500 with instant approval.
  • Fast e-transfer in 5 minutes‎‎.
  • Quick and easy online application.
  • No documentation is required.
  • Everything is done online, which means you don’t have to visit any branch.
  • Get approved for a loan 365 days a year, 24 / 7.
  • It offers you to repay your loan in installments while paying the same interest fee. most short-term loans today offer 2 or 3 repayment terms.
  • It Provides 5 days of grace period before starting to repay your loan on your next payday. It means you will get an extra 5 days to pay back with no extra fee.

NOTE: Due to government regulations, loans in Ontario and Nova Scotia can only be approved for 1 repayment.

Eligibility Criteria to Get Loan from iCash

  • You should be at least 19 years old.
  • You must be a Canadian citizen and reside in the provinces where services are available i.e. British Columbia, Alberta, Manitoba, Ontario, Nova Scotia, New Brunswick or Prince Edward Island.
  • You must have been receiving the same source of income for the past 3 months.
  • You should have net income of at least $800/month deposited in your bank account.
  • Have a Canadian bank account that has been open for at least 3 months and has access to online banking.
  • Have a valid mobile phone number, address, and email address.

Documents Required to Get the Loan from iCash

You do not need to submit any documents. just fill out the online application form at iCASH.ca or using the iCash mobile app.

How to Apply for iCash Loan?

Applying for a loan at iCASH is very smooth and easy. follow the steps below to proceed.

  • Visit the Website icash.ca. or you can download iCash mobile app to your phone.
  • Next, Select the amount you wish to borrow, the number of repayments, and your province. click on Get my loan button.
How to Apply for iCash Loan?
  • Then just follow the instructions, you will be asked to create an account and then start your application process.

How Does iCash Works?

iCash loan works on the concept of Cash advance. It means a short-term loan that provides a lump sum, which you can then pay back in one or multiple installments.

In a simple way, it’s like getting an advance on your salary, except the money doesn’t come from your employer, and you can refund it in a set number of payments.

iCash is one of the top loan providers of cash advances online in Canada.

When you face an emergency that you aren’t financially prepared for, avoiding wasting time with the application process is extremely useful.

You can stay in front of your computer or mobile at home or work and access a cash advance in just a few minutes.

There are two types of cash advances:

  • Cash advance loans (also known as payday loans).
  • Credit card cash advances.

Cash Advance Loans: It is also called payday loans. Payday cash advance loans offer you to borrow up to $1,500, which must be repaid over a short period of time with interest. It is beneficial for the things which came all of sudden without being included in the monthly budget.

Credit Card Cash Advances: A credit card cash advance allows you to take a loan amount against your credit card limit. All you have to do is withdraw the money from your credit card, usually from an ATM and then make monthly payments to pay it back with interest. It comes with higher fees and interest rates.

iCash can offer you quick cash from $100-$1,500, which is enough for most unexpected expenses people usually have. It may not seem a huge amount, but it makes the difference when you need it urgently.

You can get a Cash advance loan for many reasons but the most common ones you can find below.

  • Home repairs
  • Paying Rent
  • Replacing broken appliances Urgently
  • Car repairs
  • Medical emergency
  • An unexpected bill from the veterinary.
  • Unpaid bills or dues

NOTE: When you apply for your first payday loan with iCash, you will be eligible to receive up to $750.
Each time you pay back your loan on time, your Trust Rating score increases in the iCash System. With this, you will gradually be eligible to get a loan of up to $1500.

iCash Cash Advance Fees & Charges

There are various charges involved in getting an iCash Cash advance loan. you can find them below.

Interest Rates

It varies from province to province. check below for your province.

ProvincesInterest Charges
British Columbia$15 per $100 borrowed
Alberta$15 per $100 borrowed
Manitoba$17 per $100 borrowed
Ontario$15 per $100 borrowed
Nova Scotia$19 per $100 borrowed
New Brunswick$15 per $100 borrowed
Prince Edward Island$15 per $100 borrowed

Application Fee

Hurray!!! there is no application fee.

Credit Card Withdrawal Fee

when you withdraw money from your credit card, you have to pay a flat fee of a value of $5 to $10.

However it depends on the credit card issuer as well, sometimes it can also be a percentage of the sum you withdraw, and it can go up to 5%. double-check with your credit card provider.

NOTE: It’s always a good idea to calculate the fee & charges before getting a cash advance to make sure we include all these additional costs.

Late Fees

If you fail to pay the loan on time, you need to pay extra fees like late fees. You must make sure that your bank account has enough funds to cover the preauthorized debit on the date you agreed to make a loan payment.

If your bank account has insufficient funds at the time of the preauthorized debit, you will be charged a missed payment fee, and your bank may also charge you a non-sufficient funds fee. have a look at the late fee based on the provinces.

ProvinceLate Fees
New Brunswick$20
Prince Edward Island$48

How iCash Loan Repayment Works?

In order to make the repayment process straightforward, iCash will automatically debit your bank account on the due date for the amounts specified in the loan agreement.

On your repayment date, make sure you have enough money available in your bank account for the payment in order to avoid any additional fees.

iCash Repayment Plans

iCash offers two repayment plans. you can choose any of them based on your need and requirement.

Cash advance: With a Cash Advance loan, you can pay back your loan on your next payday in one single payment between 7-62 days after you are approved.

Flexpay: With Flexpay, you can pay back your loan in 2 or 3 equal payments on your next upcoming paydays between 7-62 days after you are approved. It allows you to have more time to repay your loan while paying no additional interest.

NOTE: In both of the above repayment plans, you will be paying the same amount in interest.

iCash Cashback Program?

iCASH offers a Cashback program to reward its customers in Canada. You can get back up to 20% of the cost of borrowing paid, for every successful Loan that is fully repaid and with the terms of the Loan Agreement.

A percentage of the cost of borrowing paid will be returned to the Customer in a form of Cashback direct into their bank account the same day.

NOTE: The cashback program is not available for Customers residing in Manitoba.

Conditions to get your Cashback

  • You must not have repaid your loan in advance (prior the last payment due date of your Loan Agreement) in the province of Nova Scotia and Alberta to be able to obtain your Cashback.
  • You must not be in a bankruptcy, consumer proposal, or in debt.
  • You must not have any current or previous loans written off with iCash.
  • Your iCash account must not have been considered fraudulent at any time since its creation.

Requirement to Redeem your Cashback

  • You must meet all the conditions to get your Cashback as mentioned above.
  • Your iCash account must be in good trust score and rating. An account in good rating has no outstanding balance due on the current or on the previous loan.
  • You must have a minimum of $20 available in Cashback to be able to redeem your Cashback.
  • You must be able to receive your Cashback by e-transfer on your principal iCash email address.
  • Your iCash account must not have been closed by you.

iCash Cashback Calculation in Percentge

  • 5% of the cost of borrowing on the first 10 loans fully repaid (loan 1 – 10).
  • 10% of the cost of borrowing on the subsequent 10 loans fully repaid (loan 11 – 20).
  • 20% of the cost of borrowing on each subsequent loan fully repaid (loan 21 and more).

iCash Cashback Expiration

Your Cashback will expire after one year of inactivity in your iCASH account.

Once your Cashback expires, it won’t be retrievable, even if you reactivate your account.


iCash reserves the right to deny any Cashback redemption if it deems that one or more of these conditions have not been met.

iCash reserves the right to refuse or exclude anyone from the Cashback program at its own discretion.

iCash reserves the right to modify the Cashback program rules at any time.

iCash reserves the right to end the iCASH Cashback program in any province at any time.

How much iCash Loan is Approved? How to Know?

Once you enter all the details correctly in the application form, the iCash algorithm will show how much loan is approved based on the provided information.

How long iCash will take to credit the amount?

Once your loan is approved and the loan agreement is signed successfully, within 2 minutes money will be credited to your account through e-transfer.

Is Getting a Loan from iCash Safe & Secure?

Yes, It is. iCash is a direct and licensed lender that operates online since 2016. To see its license, you can visit its official website.

iCash has had over 5 lakhs customers since 2014 with 93 % loan-approved applications. It also has a 4.9 rating ut of 5.

How to Contact iCash Customer Care Service Department

  • Contact Email = If you wish to speak to someone over the phone, send an email at support@icash.ca requesting to be called back.
  • Missed loan payment contact number = 1 833 422-1234. you can also send an SMS to 647-952-6644 from the phone number you created your iCASH account for loan payment.
  • Complaint Email = You can make a complaint by sending an email to administration@icash.ca


In this article, we have learned How to Apply for an Instant loan from iCash Loan App | iCash Loan App Reviews. I hope the information will be useful to you.

iCash Banking App is a new and innovative way for banking solutions. you can avail of cashback as well on your timely repayment.

iCash App is very easy and user-friendly for any newbie also.

Read Also


1: Does iCash has Mobile App?

Yes, cash has a Mobile banking app.

2: How to contact iCash customer care?

Send us an email to support@icash.ca to get your queries addressed.

3: Does iCash check Credit score?

Yes, they do, but their decision is not solely based on credit score.

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