{"id":218,"date":"2021-05-17T06:00:56","date_gmt":"2021-05-17T13:00:56","guid":{"rendered":"https:\/\/www.speedycash.ca\/payday-loans-vs-installment-loans\/"},"modified":"2025-08-13T19:18:20","modified_gmt":"2025-08-13T19:18:20","slug":"payday-loans-vs-installment-loans","status":"publish","type":"post","link":"https:\/\/www.speedycash.ca\/blog\/payday-loans-vs-installment-loans\/","title":{"rendered":"Payday Loans vs. Installment Loans"},"content":{"rendered":"\n<article class=\"wp-block-group alignfull p-post-single has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<header class=\"wp-block-group alignfull p-post-single-hero is-style-theme-subtle-light has-backgrounds-subtle-light-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"margin-top:var(--wp--preset--spacing--60);padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\">\n<div class=\"wp-block-columns are-vertically-aligned-top l-container is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:63%\"><div class=\"taxonomy-category wp-block-post-terms\"><a href=\"https:\/\/www.speedycash.ca\/blog\/category\/loans\/\" rel=\"tag\" class=\"cat-item\"><i class=\"cat-item__color cat-item__color--\" aria-hidden=\"true\"><\/i><span class=\"cat-item__label\">Loans<\/span><\/a><\/div>\n\n<h1 style=\"margin-top:var(--wp--preset--spacing--40);\" class=\"t-display-large wp-block-post-title\">Payday Loans vs. Installment Loans<\/h1>\n\n<div style=\"text-transform:uppercase; margin-top:var(--wp--preset--spacing--40);\" class=\"t-date wp-block-post-date\"><time datetime=\"2021-05-17T06:00:56+00:00\">May, 2021<\/time><\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:37%\"><figure style=\"aspect-ratio:4\/3; margin-top:0;margin-bottom:0;\" class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"884\" height=\"454\" src=\"https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2024\/10\/Payday_Loans_vs_Installment_Loans.png?w=884\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Payday loans vs installment loans: which loan should I get from Speedy Cash?\" style=\"width:100%;height:100%;object-fit:cover;\" srcset=\"https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2024\/10\/Payday_Loans_vs_Installment_Loans.png 884w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2024\/10\/Payday_Loans_vs_Installment_Loans.png?resize=300,154 300w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2024\/10\/Payday_Loans_vs_Installment_Loans.png?resize=768,394 768w\" sizes=\"auto, (max-width: 884px) 100vw, 884px\" \/><\/figure><\/div>\n<\/div>\n<\/header>\n\n\n\n<div class=\"wp-block-group p-post-single-body l-container has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" style=\"margin-top:var(--wp--preset--spacing--60)\">\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide l-container\" style=\"margin-top:0;margin-bottom:var(--wp--preset--spacing--60)\"\/>\n\n\n\n<p><span data-contrast=\"auto\">There can be a lot of confusion that goes along with deciding what type of loan is best for you, especially when it comes to payday and installment<\/span><span data-contrast=\"auto\">&nbsp;loans. While both allow you to obtain cash when you need it the most, there are several differences<\/span><span data-contrast=\"auto\">&nbsp;between the two and it\u2019s important to recognize this.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-payday-loans\">Payday Loans<\/h2>\n\n\n\n<p><span data-contrast=\"auto\">Payday loans are short-term loans obtained through a lender such as <a href=\"https:\/\/www.speedycash.ca\/borrow-now\">Speedy Cash<\/a> for a fixed amount of money with an agreeance to pay it back in full on your next <\/span><span data-contrast=\"auto\">paycheque<\/span><span data-contrast=\"auto\">. Payday loans can range from $200 to $1,500. These types of loans work well to cover your expenses if you\u2019re short on cash until your next payday.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><span data-contrast=\"auto\">P<\/span><span data-contrast=\"auto\">ay<\/span><span data-contrast=\"auto\">day lending companies do not require a credit check to be completed in order to determine your eligibility or interest rates, which makes them a good option if you don\u2019t have good credit!<\/span><\/p>\n\n\n\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;Most payday lenders require proof of the following when applying for a loan:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Regular income<\/li>\n\n\n\n<li>Bank account<\/li>\n\n\n\n<li>Permanent address<\/li>\n<\/ul>\n\n\n\n<p>Once your application has been processed and you\u2019re approved, your loan will be deposited directly into your bank account via e-transfer or you can receive cash if applying in person. The money you borrow will be owed back to the lender on your next payday. I<span data-contrast=\"auto\">f you <\/span><span data-contrast=\"auto\">are unable to pay back your payday loan when it is due, several steps may be taken for the lender to recoup their money:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-contrast=\"auto\">a<\/span><span data-contrast=\"auto\">&nbsp;Non-Sufficient Funds charge may be applied if there isn\u2019t enough money in your&nbsp;<\/span><span data-contrast=\"auto\">account.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n\n\n\n<li><span data-contrast=\"auto\">O<\/span><span data-contrast=\"auto\">verdue fees may start to&nbsp;<\/span><span data-contrast=\"auto\">accumulate.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n\n\n\n<li><span data-contrast=\"auto\">T<\/span><span data-contrast=\"auto\">he<\/span><span data-contrast=\"auto\"> lender may reach out to your references and place of employment in an attempt to contact you to collect the amount <\/span><span data-contrast=\"auto\">due.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n\n\n\n<li><span data-contrast=\"auto\">T<\/span><span data-contrast=\"auto\">he<\/span><span data-contrast=\"auto\">&nbsp;lender may&nbsp;<\/span><span data-contrast=\"auto\">submit your file to a collection agency, which may be included in your credit&nbsp;<\/span><span data-contrast=\"auto\">report.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n\n\n\n<li><span data-contrast=\"auto\">The lender may go to the courts to take money from your paycheque. (Commonly known as garnishing your wages.)&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-installment-loans\">Installment Loans<\/h2>\n\n\n\n<p><span data-contrast=\"auto\">An installment loan<\/span><span data-contrast=\"auto\">&nbsp;is a loan obtained through a lender for a fixed amount of money with an agreeance to pay it back over&nbsp;<\/span><span data-contrast=\"auto\">a period of time<\/span><span data-contrast=\"auto\">, plus any accrued interest and applicable fees.&nbsp;<\/span><span data-contrast=\"auto\">They can range from $100 to $50,000 with a term between 6 and 60 months.<\/span><span data-contrast=\"auto\"> Like payday loans, they are often unsecured and don\u2019t require collateral<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-contrast=\"auto\">Unlike payday loans,&nbsp;<\/span><span data-contrast=\"auto\">most lenders will run a credit check<\/span><span data-contrast=\"auto\">&nbsp;when you apply for an installment loan<\/span><span data-contrast=\"auto\">. This will assist the lender in determining your ability to repay the loan; if you have poor credit,<\/span><span data-contrast=\"auto\">&nbsp;this may affect the interest rate of your loan.<\/span><span data-contrast=\"auto\">&nbsp;The poorer your credit, the higher your interest&nbsp;rate will likely be, resulting in a higher cost of borrowing.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-contrast=\"auto\">If you are unable to repay an installment loan, the lender may take the following steps to reclaim its money:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-contrast=\"auto\">Missed payments can be reported to the credit bureau, which means it may show up on your credit <\/span><span data-contrast=\"auto\">report.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n\n\n\n<li><span data-contrast=\"auto\">a Non-Sufficient Funds charge may be applied if there isn\u2019t enough money in your&nbsp;<\/span><span data-contrast=\"auto\">account.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n\n\n\n<li><span data-contrast=\"auto\">The lender could sue you for the&nbsp;<\/span><span data-contrast=\"auto\">debt.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-calculate-the-cost\">Calculate the Cost<\/h2>\n\n\n\n<p><span data-contrast=\"auto\">Both types of loans have various fees and other costs associated with them<\/span><span data-contrast=\"auto\">, which include the cost of borrowing and interest rates.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-contrast=\"auto\">Payday lenders charge a lending fee, also&nbsp;<\/span><span data-contrast=\"auto\">known as the&nbsp;<\/span><b><span data-contrast=\"auto\">cost of&nbsp;<\/span><\/b><b><span data-contrast=\"auto\">borrowing<\/span><\/b><span data-contrast=\"auto\">.<\/span><b><span data-contrast=\"auto\">&nbsp;<\/span><\/b><span data-contrast=\"auto\">The<\/span><span data-contrast=\"auto\">&nbsp;cost of borrowing&nbsp;<\/span><span data-contrast=\"auto\">is the amount you will be charged per $100.00 borrowed.&nbsp;<\/span><span data-contrast=\"auto\">E<\/span><span data-contrast=\"auto\">ach province and territory in Canada&nbsp;<\/span><span data-contrast=\"auto\">has<\/span><span data-contrast=\"auto\">&nbsp;different&nbsp;<\/span><span data-contrast=\"auto\">rules&nbsp;<\/span><span data-contrast=\"auto\">and&nbsp;<\/span><span data-contrast=\"auto\">regulations for lending<\/span><span data-contrast=\"auto\">, which can be found and reviewed on the Government of&nbsp;<\/span><span data-contrast=\"auto\">Canada\u2019s<\/span><span data-contrast=\"auto\">&nbsp;<\/span><a href=\"https:\/\/www.ic.gc.ca\/eic\/site\/Oca-bc.nsf\/eng\/ca02982.html\"><span data-contrast=\"none\">website<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-contrast=\"auto\">For example, if you\u00a0live in British Columbia and wish to borrow from <\/span><a href=\"https:\/\/www.speedycash.ca\/borrow-now\"><span data-contrast=\"none\">Speedy Cash Canada<\/span><\/a><span data-contrast=\"none\">,\u00a0the cost of borrowing is $14\u00a0per $100.00 borrowed. So, if you borrowed $200.00, the\u00a0total cost of borrowing would be $28, which would be due back on your next payday along with the amount you borrowed. If you don\u2019t make your payments, interest begins accruing on the amount owed.<\/span><\/p>\n\n\n\n<p>Installment loans don\u2019t have a lending fee; you are instead charged monthly interest on your payments for the duration of your term. The interest rate, as previously mentioned, can be based on your credit score as well as how long your loan term is.<\/p>\n\n\n\n<p>In the end and as always, it is best to do your research when determining what type of loan is best for you and your needs! Always be sure to ask about any and all fees, charges, and interest rates, what day your loan is due or when repayments will start being withdrawn, and what the maximum costs may be. For more useful information regarding various loan services, visit the <a href=\"https:\/\/www.canada.ca\/en\/services\/finance\/debt.html\">Government of Canada\u2019s website<\/a>.<\/p>\n<\/div>\n\n\n\n<footer class=\"wp-block-group p-post-single-footer has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--50);padding-bottom:var(--wp--preset--spacing--80)\">\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\" style=\"margin-top:0;margin-bottom:var(--wp--preset--spacing--50)\"\/>\n\n\n\n<div class=\"wp-block-group p-explore-by-topic is-layout-flex wp-block-group-is-layout-flex\">\n<p class=\"is-style-body-small\" style=\"margin-top:0\"><strong>Related Topics:<\/strong><\/p>\n\n\n<\/div>\n<\/footer>\n<\/article>\n\n\n\n<section class=\"wp-block-group alignfull p-post-single-related is-style-theme-light-muted has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--60);padding-bottom:var(--wp--preset--spacing--60)\">\n<div class=\"wp-block-columns l-container p-post-single-related__header is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\" id=\"h-explore-related-posts\" style=\"margin-top:0\">Explore Related Posts<\/h2>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div class=\"wp-block-buttons is-content-justification-right is-layout-flex wp-container-core-buttons-is-layout-d7d8c720 wp-block-buttons-is-layout-flex\" style=\"margin-top:0\">\n<div class=\"wp-block-button is-style-tertiary\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.speedycash.ca\/blog\/\">Visit Our Blog<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group p-post-single-related__query l-container is-layout-flow wp-block-group-is-layout-flow\" style=\"margin-top:var(--wp--preset--spacing--50)\">\n<div class=\"wp-block-query is-layout-flow wp-block-query-is-layout-flow\"><ul class=\"columns-2 wp-block-post-template is-layout-grid wp-container-core-post-template-is-layout-17361a50 wp-block-post-template-is-layout-grid\"><li class=\"wp-block-post post-3025 post type-post status-publish format-standard has-post-thumbnail hentry category-budgeting category-financial-tips tag-cash-loans tag-emergency-fund tag-emergency-loans-canada tag-moving-expenses-canada tag-online-loans-canada tag-payday-loans tag-payday-loans-canada\">\n\n<article class=\"wp-block-group p-post-popular is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group p-post-popular__inner is-layout-flow wp-block-group-is-layout-flow\"><figure style=\"aspect-ratio:1;\" class=\"p-post-popular__media wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/04\/shutterstock_2668117015.jpg?w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Canadian packing up moving boxes.\" style=\"width:100%;height:100%;object-fit:cover;\" srcset=\"https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/04\/shutterstock_2668117015.jpg 8256w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/04\/shutterstock_2668117015.jpg?resize=300,200 300w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/04\/shutterstock_2668117015.jpg?resize=768,512 768w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/04\/shutterstock_2668117015.jpg?resize=1024,683 1024w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/04\/shutterstock_2668117015.jpg?resize=1536,1024 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href=\"https:\/\/www.speedycash.ca\/blog\/how-to-handle-unexpected-moving-expenses-this-spring\/\" target=\"_self\">Read more<span class=\"screen-reader-text\">: How to Handle Unexpected Moving Expenses This Spring<\/span><\/a><\/article>\n\n<\/li><li class=\"wp-block-post post-2988 post type-post status-publish format-standard has-post-thumbnail hentry category-budgeting category-financial-tips tag-emergency-fund tag-payday-loans tag-quick-loans tag-short-term-loans\">\n\n<article class=\"wp-block-group p-post-popular is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group p-post-popular__inner is-layout-flow wp-block-group-is-layout-flow\"><figure style=\"aspect-ratio:1;\" class=\"p-post-popular__media wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"540\" src=\"https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg?w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Canadian checking CRA My Account on laptop while reviewing tax documents and budget spreadsheet during tax season\" style=\"width:100%;height:100%;object-fit:cover;\" srcset=\"https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg 6554w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg?resize=300,158 300w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg?resize=768,405 768w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg?resize=1024,540 1024w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg?resize=1536,810 1536w, https:\/\/www.speedycash.ca\/wp-content\/uploads\/sites\/2\/2026\/03\/shutterstock_2579692209.jpg?resize=2048,1080 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<div class=\"wp-block-group p-post-popular__content is-layout-flow wp-block-group-is-layout-flow\"><div style=\"margin-top:0\" class=\"taxonomy-category wp-block-post-terms\"><a href=\"https:\/\/www.speedycash.ca\/blog\/category\/budgeting\/\" rel=\"tag\" class=\"cat-item\"><i class=\"cat-item__color cat-item__color--\" aria-hidden=\"true\"><\/i><span class=\"cat-item__label\">Budgeting<\/span><\/a><\/div>\n\n<h2 style=\"margin-top:var(--wp--preset--spacing--20);\" class=\"t-display-x-small wp-block-post-title\">Tax Time Cash Flow: How to Budget Until Your CRA Refund Arrives<\/h2><\/div>\n<\/div>\n\n\n<a class=\"a-link-cover wp-block-read-more\" href=\"https:\/\/www.speedycash.ca\/blog\/how-to-budget-until-your-cra-refund-arrives\/\" target=\"_self\">Read more<span class=\"screen-reader-text\">: Tax Time Cash Flow: How to Budget Until Your CRA Refund Arrives<\/span><\/a><\/article>\n\n<\/li><\/ul>\n\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>There can be a lot of confusion that goes along with deciding what type of loan is best for you, especially when it comes to payday and installment\u00a0loans. While both allow you to obtain cash when you need it the most, there are several differences\u00a0between the two and it\u2019s important to recognize this.\u00a0 Payday Loans\u00a0 [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":1175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loans"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Payday Loans vs. Installment Loans - Speedy Cash<\/title>\n<meta name=\"description\" content=\"Payday loans vs. installment loans\u2014which is right for you? Compare loan types to find the best option for your financial situation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.speedycash.ca\/blog\/payday-loans-vs-installment-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Payday Loans vs. Installment Loans\" \/>\n<meta property=\"og:description\" content=\"Payday loans vs. installment loans\u2014which is right for you? 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