Repayment terms
Your exact repayment term, due dates and payment amounts are shown in your loan agreement before you sign.
Payday Hero offers an online application for short-term personal loans. Each application is reviewed, approval is not guaranteed, and processing times vary.
Funds are sent by Interac e-transfer once approved and the agreement is accepted. Transfer timing depends on the review, business hours and your bank. Review the complete cost and repayment schedule before signing.
Select your required amount. Amounts approved are between $100 and $1500 each.
The information you submit is used to verify and review your application. Whether or not an application is approved, personal information is handled and retained as described in our Privacy Policy, including applicable legal and regulatory requirements.
Our goal is to respond to you within 24 hours on weekdays and within 48 hours on weekends.
ONLINE APPLICATION
Review Your Offer
Understand Every Payment
Review the repayment schedule and complete cost of any offer before you apply.
Apply online and review your complete loan offer before deciding whether to accept it.
Payday Hero offers short-term personal instalment loans from $300 to $1,500. Applications are subject to review, and submitting an application does not guarantee approval or a particular loan amount.
Review every disclosure carefully and do not accept a loan unless its payments fit your budget.
The amount offered depends on your eligibility and application review.
Approved funds are delivered by Interac e-Transfer after the required agreement and verification steps. Timing varies.
Online applications are accepted at any time. Review and funding times vary.
Every application is reviewed. Approval and the requested loan amount are not guaranteed.
Your agreement shows the exact term, payment dates and payment amounts before you sign.
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Understand your personal instalment loan terms, costs and repayment schedule.
Your exact repayment term, due dates and payment amounts are shown in your loan agreement before you sign.
Review the APR, interest, all mandatory fees, total cost of borrowing and total amount repayable before accepting an offer.
Compare the complete repayment schedule and cost disclosure with your budget. Applying does not require you to accept an offer.
Apply online. Approved funds are sent by Interac e-Transfer after you accept the loan agreement.
A cash advance is a short-term personal loan with a fixed repayment schedule stated in the individual loan agreement. Approval and funding times vary.
Unlike a credit-card cash advance (where you pull cash against your card limit), an online cash advance with Payday Hero is a separate short-term loan. After an approved applicant accepts the agreement, funds are sent by Interac e-Transfer. Delivery times vary.
These three terms get used interchangeably online but they're different products:
For Payday Hero customers, "cash advance" and "payday loan" mean the same thing: a short-term loan funded by Interac e-Transfer with full cost disclosure before you sign.
Payday Hero offers cash advances between $300 and $1,500 to qualified Canadian borrowers. The amount we approve depends on:
Every application is assessed individually. A previous offer or repayment does not guarantee a future amount or approval.
Approved funds are sent by Interac e-Transfer after the applicant accepts the agreement. With Interac Autodeposit configured at your bank, a completed transfer can be deposited without a security question. Timing depends on review completion, business hours and your bank.
The online application remains available outside business hours and on weekends, but review and e-Transfer timing are not guaranteed.
A cash advance is a useful tool when:
It's the wrong tool when:
If you're not sure, free credit counselling is available across Canada through the Credit Counselling Society, Credit Counselling Canada, and provincial non-profit networks.
These terms are sometimes used interchangeably online, but product definitions and repayment schedules vary. The individual agreement identifies the product and every payment date.
A less-than-perfect credit history does not prevent you from applying. Eligibility depends on underwriting and ability to repay, and approval is not guaranteed.
After an approved applicant accepts the agreement, funds are sent by Interac e-Transfer. Review and delivery times vary based on business hours and bank processing.
The APR, interest, mandatory fees, payment schedule, total cost of borrowing and total amount repayable are itemized in the loan agreement before you sign.
No. Applying is free. Fees only apply when you accept and sign a loan agreement.
Yes — you can repay your cash advance at any time, with no penalty. Early repayment can reduce your total cost of borrowing.
Testimonials
I just wanted to say that I'm very happy with borrowing from Payday Hero. They're easy to work with and are flexible with their payment terms.
An online loan can be applied for through the internet without visiting a branch. The application is reviewed against eligibility and underwriting criteria, and approval is not guaranteed.
Complete the application online and provide the information needed for review. If approved and you accept the agreement, funds are sent by Interac e-Transfer. Review and transfer times vary, and approval is not guaranteed.
Our online loans offer more flexibility and better terms compared to payday loans. Instead of high fees and short repayment periods, we provide longer, more manageable repayment options tailored to your needs.
Eligibility is based primarily on your income, bank history, and age (you must be at least 18 years old). A soft or hard credit check may be performed as part of underwriting; it will be disclosed before you sign.
Your exact APR, all mandatory fees, and total cost of credit are itemized in your loan agreement before you sign. We disclose this in accordance with the federal Cost of Borrowing (Banks) Regulations and applicable provincial consumer credit law.
If you use online banking, no extra documents are needed. Otherwise, you’ll need to submit a pay stub, void cheque, recent bank statements, and a government-issued ID.
No, we are completely transparent about all fees. You'll know all the costs upfront, including any interest and brokerage fees, before you agree to anything.
Yes! You can repay the loan early without any penalties. In fact, we offer fee discounts for early repayment to help lower the total cost of borrowing.
After an approved applicant accepts the loan agreement, funds are sent by Interac e-Transfer. Delivery depends on review completion, business hours and the receiving bank, so no specific funding time is guaranteed.
Applying is simple. Just fill out the application form on our website, and we'll guide you through the process from start to finish.
Your individual loan agreement is the authoritative source for the terms of an offer. Review the APR, interest, mandatory fees, payment schedule, total cost of borrowing and total amount repayable before signing.
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