installment loans that accept child tax

Baby Bonus Payday Loans That Accept Child Tax Benefit ODPS

In Canada, billions are dollars are distributed through several families to better raise their children under the shed of proper care. A particular fiscal aid in the form of the (ODSP) Canada Child Benefit (CCTB) tax program is granted to several families with a view to nurturing the children with better food, shelter, and other things.

But did you know the fact that the child tax benefit you receive every month can be treated as your fixed monthly income? And, based on that, you can apply for payday loans in Canada to meet unexpected financial crises?

Here, in this blog, we will be looking in detail as to how can you get short-term cash advance assistance against your fixed child tax assistance received from the Canadian government. But before going deep into it, lets’ refresh your memory on Canada Child Tax Benefits (CCTB) Loans.

What are Canada Child Tax Benefit (CCTB) Loans?

Canada Child Tax Benefit (CCTB) loan is financial assistance granted by the Canadian government to single parents or families to raise their children effectively. As of new rules implemented in 2016, funds will be granted to parents raising their children under the age of 18 years. It is because the cost of nurturing a kid in Canada is high as compared to other countries. Since 2016, many changes in the CCTB have been implemented that are as follows:

  • Families will get access to funds per month in an uncomplicated manner.
  • Different standards of payments are granted to families based on their high and low-income status.
  • Families will get special tax benefits on CCB payments i.e. no need to pay the tax while filing the income tax return.

Even the amount granted under CCB is different for the number of children you have and for which part of Canada you belong. To better understand the payment criteria, refer to the following table.

Province in Canada Program Payment
Alberta Alberta Family Employment Tax Credit (AFC)
For July 2021 to June 2022
  • $1,330 ($110.83 per month) for the first child
  • $665 ($55.41 per month) for the second child
  • $665 ($55.41 per month) for the third child
  • $665 ($55.41 per month) for the fourth child
British Columbia BC Early Childhood Tax Benefit (BCECT)

For July 2021 to June 2022

  • $133.33 per month for the first child;
  • $83.33 per month for the second child; and
  • $66.66 per month for each additional child.
Newfoundland and Labrador Manitoba Child Benefit

For July 2021 to June 2022

  • $34.16 per month for the first child;
  • $36.33 per month for the second child;
  • $39.00 per month for the third child; and
  • $41.83 per month for each additional child.
Nova Scotia NB Child Tax Benefit (NBCTB)

For July 2021 to June 2022

  • $77.08 per month for the first child;
  • $68.75 per month for the second child; and
  • $75.00 per month for each additional child.
Nunavut Nova Scotia Child Benefit (NSCB)

For July 2021 to June 2022

  • $22.91 per month for one child; and
  • $29.16 per month for two or more children.
Ontario Ontario Child Benefit (OCB)
  • $122.83 per month for each child under 18 years of age

Apart from the above destinations of Canada, there are more provinces added to the list like Manitoba, Northwest Territories, New Brunswick, Prince Edward Island, Quebec, Saskatchewan, Yukon, and more.

Why Do you Need Payday Loans That Accept Child Tax Benefits?

In Canada, you do get child financial assistance from the government, no matter, if having one or more children. Now, the question, what will you do if some uncertain monetary crisis crops up before the day of CCTB payment? At such times, you can very well think of using child benefit payment as your line of credit to apply for e-transfer payday loans in Canada 24/7 child tax.

It will be like combining your monthly salary and the child fiscal benefit as one complete income to showcase to lenders and then apply for instant e-transfer payday loans Canada 24/7 that accept government benefits ODPS. One of the benefits you find is having a strong monthly income position to showcase to loan lenders. And, feel confident to repay the loan well on time without getting deep under the debt cycle.

How Can you Utilize CCTB as a Way to Get Payday Loan?

No matter, if you need a cash advance against the CCTB day or your salary day, you can combine your income to apply for payday loans. But remember, including your CCTB profit indicates the fact that you will only be using the loan amount for your children’s benefit only. CCTB payday loans can be used for baby bonus payday loans which are displayed as a part of your monthly income. And, lenders will not be having any issue in approving the loan application.

How to Get the Loan for Guaranteed Instant Approval?

Now, that the picture is clear in front of you that you can apply for guaranteed payday loans child tax credit on benefits in Canada. Another doubt to solve is how to get final approval. Well, more or less, the conditions imposed by lenders are almost the same like considering your credit report, monthly financial income, any previous loan or bankruptcy, and other personal details.

Most important for you to understand how to approach a legitimate lender by referring to the following few conditions.

  • Search around for lenders: It is required to search for specific lenders who accept government benefits as income proof, have a lower interest rate, and have flexibility in the credit checking process.


  • Check your Debt-to-Income Ratio: This point is something relevant for all borrowers not just for payday loans but also for installment, mortgage, and other finance offers. Checking your debt to income ratio is all about adding loan monthly payments with your monthly debts and dividing the same with your monthly income. It will give you a clear picture of your financial standing. As per the research, the ideal debt to income ratio comes around 30% to 35% lower. If your ratio is on the higher side, then it is better for you to hold off applying for the loan.


  • Find a Co-signer: The best to increase your chance of getting loan approval is to find a family member or a friend who will co-sign the loan application with you.


  • Check your credit: As already mentioned, a credit score is one of the checkpoints for lenders to decide to approve your loan or not. Thus, it is better to maintain your score to an average or higher level.

Important Things to Consider

A loan against CCB might require you to set an automatic deduction from the bank account. So, it is necessary to budget your spending and savings first. The best idea is to apply for a little less than you require at the present moment. This will make it simple for you to make repayment on time.
Maintain cash advance for emergency circumstances despite relying completely on CCB and payday loans. You can also consider the alternative of an installment payday loan to get much-needed relief from making small monthly payments.


Getting CCTB is an apt way to showcase your line of credit to payday loans child tax benefits Ontario no credit check and get guaranteed instant approval. Manage your funds effectively while nurturing kids with complete financial stability.