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.
Download our website app to get started. Save the site to your home screen for easy access.
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.
A weak credit history doesn't have to lock you out of short-term funding.
Eligibility criteria vary by lender and product. Payday Hero reviews several factors rather than relying on a credit score alone.
Current income, recent banking activity, existing obligations and ability to repay may all form part of underwriting. Approval is not guaranteed.
A credit check may form part of underwriting. A low score does not automatically prevent an application, but eligibility depends on the complete review.
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.
The effect of a loan on a credit file depends on the lender's reporting practices and your payment history. Ask whether and how an account is reported before relying on it for credit building.
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.
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.
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.
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.
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