Flexible Repayment Terms
The minimum repayment term for any borrowed amount is 90 days, with a maximum of 210 days. The term can be extended, and clients can repay at any time, potentially benefiting from fee discounts.
Need cash fast? Payday Hero offers an online application for short-term personal loans. Apply today and get a decision in minutes.
Funds are sent by Interac e-transfer once approved. Your exact APR, total cost of credit, and repayment schedule are disclosed in your loan agreement before you sign.
Select your required amount. Amounts approved are between $100 and $1500 each.
Your personal information will be verified as soon as it’s submitted. If your application is not approved, rest assured that all your data will be securely erased from our systems permanently.
Our goal is to respond to you within 24 hours on weekdays and within 48 hours on weekends.
Discover the benefits of fast, secure, and easy loans with flexible repayment options.
Loans up to $1,500 are available to help you with your financial needs.
Benefit from receiving your loan disbursement by Interac E-Transfer.
Full day coverage, 24/7, for all your needs. We're here to help you with any questions you may have.
With thousands of applicants across Canada, we've learned how to make the process as easy as possible.
Depending on your financial situation, you can repay your loan in 1-10 installments.
Download our website app to get started. Save the site to your home screen for easy access.
Understand Your Payday Loan: Terms, Rates, and Repayment
The minimum repayment term for any borrowed amount is 90 days, with a maximum of 210 days. The term can be extended, and clients can repay at any time, potentially benefiting from fee discounts.
Your exact APR, all mandatory fees, and total cost of credit are itemized in your loan agreement before you sign, as required by federal and provincial cost-of-borrowing rules.
Repayment schedules vary by loan amount and term. See our Loan Options for representative payment schedules. Your exact APR, total cost of credit, and itemized fees are disclosed in your loan agreement before you sign.
If you're choosing between us, here's how the two products actually compare.
| Payday Hero | Pay2Day | |
|---|---|---|
| Application channel | 100% online (web + iOS/Android app) | Online + branch network in select provinces |
| Funding method | Interac e-Transfer | Interac e-Transfer or in-store cash |
| Loan range | $300 – $1,500 | Varies by product |
| Maximum cost | $15 per $100 (provincial cap) | $15 per $100 (provincial cap) |
| Application time | ~5 minutes | ~10–15 minutes online |
| Decision time | Minutes | Minutes (online); same-day (branch) |
| Bad credit considered | Yes — income-based underwriting | Yes |
| Mobile app | iOS + Android | iOS + Android |
| In-person option | No (online only) | Yes (select branches) |
Both lenders operate at the provincial regulatory maximum of $15 per $100 borrowed for payday loans in licensed provinces. Headline costs match. Differences appear in:
For both lenders, your full cost of borrowing, total payable, and repayment schedule are itemized in the loan agreement before you sign.
Both lenders charge the regulatory maximum of $15 per $100 borrowed for payday loans. Total cost will be similar. Read both loan agreements before signing.
Pay2Day branches offer additional services like cheque cashing and other in-store products. Payday Hero focuses exclusively on online short-term loans.
Both lenders fund by Interac e-Transfer within minutes during business hours when you apply online. Pay2Day's branch option lets you walk out with cash same-day if you visit in person.
Yes. Each does independent underwriting. Note that simultaneous applications may show up on credit checks.
Pay2Day® is a registered trademark of its respective owner. We are not affiliated with, endorsed by, or sponsored by Pay2Day. This page is independent comparison content.
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 is a fast, hassle-free option designed for Canadians to access funds directly through the internet. The entire process—from application to approval—takes place online, making it a simple way to secure funds.
It's simple! Complete a quick application form online, receive a decision in minutes, and once approved, the funds are deposited straight into your bank account. Typically, you can have the money in less than an hour.
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.
Once your loan is approved, the funds are deposited directly into your bank account, often within an hour. We aim to offer a fast, convenient solution for your financial needs.
Applying is simple. Just fill out the application form on our website, and we'll guide you through the process from start to finish.