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.
FAST MONEY
Quick Loans - Simple Payments
Flexible & Easy Terms
Choose between 3, 6, or 12 installment loans, apply for a payday loan now!
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.
A weak credit history doesn't have to lock you out of short-term funding.
If your credit score is below 600, most banks and prime lenders will decline your application. That doesn't mean you're out of options — it means you need a lender that evaluates your application differently.
Payday Hero focuses on what matters most for a short-term loan: your current income and your recent banking activity. A late credit card payment from two years ago doesn't define whether you can repay a $500 loan from your next paycheque.
We pull a credit check as part of our underwriting, but a low score on its own is not a disqualifier. Plenty of borrowers with bruised credit qualify based on consistent income and a healthy banking pattern.
Short-term loans for borrowers with weaker credit cost more than prime credit products. That's how short-term consumer credit works across Canada — provincial regulation caps these costs, but they're meaningfully higher than a bank line of credit.
Before you apply, ask yourself:
If you're carrying a lot of debt already and considering a payday loan to keep up with other payments, that's a sign to talk to a non-profit credit counsellor before borrowing more. The Credit Counselling Society and Credit Counselling Canada offer free, confidential consultations across the country.
Repaying a short-term loan on time can help your credit recovery in two ways: it adds an on-time payment to your file (with lenders who report to the credit bureaus), and it preserves the savings cushion that lets you avoid future emergency borrowing.
Ways to build credit alongside or instead of borrowing:
Lenders typically perform a soft inquiry first, which doesn't affect your score. A formal hard inquiry happens only when you accept a loan offer, and a single hard inquiry has a small, short-lived impact.
We don't publish a strict cutoff — we underwrite to your full picture. Many of our approved borrowers have scores in the 500s, and some have no credit file at all. Income and banking activity carry more weight than score alone.
Possibly — it depends on whether your current income still leaves room to repay the new loan responsibly. Active wage garnishments or unresolved bankruptcy filings make approval harder.
We're focused on getting your funding right; reporting practices vary across short-term lenders. Your loan agreement covers what we report and when.
Approved applications are typically funded by Interac e-Transfer within minutes during business hours. Outside business hours, funds are usually delivered the next business morning.
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.
Short-term loans cost more than prime credit products. Provincial regulators cap maximum cost of borrowing in each province where we operate. Your exact cost of borrowing, all fees, and repayment schedule are itemized in your loan agreement before you sign, in accordance with the federal Cost of Borrowing Regulations and applicable provincial law.
Apply Now!