Cost Sep 5, 2026
What does a payday loan cost in Ontario?
$14 for every $100 you borrow — the maximum total cost of borrowing allowed in Ontario, with worked examples and the APR at each term.
INSTANT.CREDIT
4 min read
FAQs
Frequently Asked Questions
Straight answers about what an Ontario payday loan costs, who qualifies, and what you are entitled to.
Cost Sep 4, 2026
How much can I borrow?
Ontario caps a payday loan at $1,500 and at 50% of your net pay for the period. Here is how the two limits interact and which one usually binds.
INSTANT.CREDIT
4 min read
Eligibility Sep 3, 2026
Am I eligible for a payday loan?
What you need before you apply: an Ontario address, 18 or over, regular income, and a chequing account your income is paid into.
INSTANT.CREDIT
4 min read
Getting Funded Sep 2, 2026
How fast do I get the money?
Funds go out by Interac e-Transfer once you are approved and the agreement is signed. On a loan agreed online, Ontario requires the money to be accessible within one hour.
INSTANT.CREDIT
4 min read
Eligibility Sep 1, 2026
Can I get a payday loan with bad credit?
A low score does not rule you out on its own. We assess income and banking history — and no licensed Ontario lender can promise approval before it has looked.
INSTANT.CREDIT
4 min read
Your Rights Aug 31, 2026
Can I cancel a payday loan?
Yes. You can cancel by the end of the second business day at no cost and without giving a reason — and in two situations the right never expires.
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Repayment Aug 28, 2026
What if I cannot repay on time?
Contact us before the due date. Only two charges can ever be added in Ontario: default interest of 2.5% per month, non-compounding, and a $20 dishonoured payment fee.
INSTANT.CREDIT
4 min read
Repayment Aug 27, 2026
What is an extended payment plan?
On your third payday loan with the same lender inside 63 days, Ontario gives you the right to repay in instalments across at least three pay periods — at no extra cost.
INSTANT.CREDIT
4 min read
Repayment Aug 26, 2026
Can I have two payday loans at once?
Not with us. Ontario's seven-day rule bars a lender from making a new payday loan until seven days after the previous one is paid in full — and rollovers are banned outright.
INSTANT.CREDIT
4 min read
Eligibility Aug 25, 2026
Do you do a credit check?
An honest answer: we may check your credit, and we always look at your income and banking history. What we do not do is decide on a score alone.
INSTANT.CREDIT
3 min read
Getting Funded Aug 24, 2026
Is my bank information safe?
The bank connection is read-only. Your online banking credentials go to a specialist verification provider, not to us, and a read-only link cannot move money.
INSTANT.CREDIT
3 min read
Eligibility Aug 21, 2026
Can I get a payday loan on ODSP or Ontario Works?
Ontario law does not exclude income from social assistance — but the arithmetic is unforgiving, and a loan may be deducted from your next benefit payment. Read this before you apply.
INSTANT.CREDIT
5 min read
Your Rights Aug 20, 2026
How do I complain about a payday lender?
Start with the lender, then take it to the Ministry of Public and Business Service Delivery — (416) 326-6203 or CPOLicensing@Ontario.ca. What to send, and what the regulator can do.
INSTANT.CREDIT
4 min read
Alternatives Aug 19, 2026
What are the alternatives to a payday loan?
A payday loan costs $14 per $100. Most of these cost nothing. Ask the creditor for time, ask payroll about an advance, check a credit union, and find out what help already exists.
INSTANT.CREDIT
5 min read
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