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.
ODSP income generally counts when we assess your application. Read this page carefully before you apply.
Important: If you receive ODSP, please read the "Borrow Responsibly" section below before applying. ODSP income is fixed and protected — taking on a short-term loan you can't comfortably repay can put your essentials at risk.
Yes — Ontario Disability Support Program (ODSP) payments are recognized as a regular source of income by Payday Hero. So are other government benefits including the Canada Pension Plan – Disability (CPP-D), Old Age Security (OAS), Employment Insurance (EI), and Child Tax Benefit.
What we assess is whether your monthly income — whatever its source — leaves room to comfortably repay a short-term loan after your essentials are covered.
For ODSP recipients, we look at:
Our credit decision is not based on score alone. Borrowers with limited or weak credit history regularly qualify on the strength of stable ODSP income and a reasonable budget picture.
We typically approve smaller amounts for ODSP recipients than for full-time wage earners — that's because the loan needs to fit comfortably inside a fixed monthly budget. Most ODSP-only borrowers qualify for $300–$500 on a first application.
Larger amounts can become available later if you've successfully repaid an earlier loan and your income has remained stable.
A short-term loan is meant for a one-time, time-bound expense — a car repair, a missed utility payment, an emergency vet bill. It is not a tool for covering a recurring monthly shortfall.
If you receive ODSP and you find that your monthly income consistently doesn't cover essentials, please look at these resources before taking on a loan:
Borrowing makes sense when there's a real, time-bound expense and you have a clear plan to repay. Borrowing to cover this month's groceries because rent went up is a sign that the budget itself needs help — and that help often exists at no cost through the resources above.
Yes. ODSP counts as a regular income source. Approval depends on whether the loan amount fits comfortably inside your monthly budget after essentials are covered.
A short-term loan is not income for ODSP purposes — it's a debt that must be repaid. ODSP doesn't claw back loan proceeds. However, if you don't repay and the lender writes off the debt, that may be reportable in some provincial programs. Always read the rules and check with your caseworker if uncertain.
Approved ODSP applications are typically funded by Interac e-Transfer within minutes during business hours. Outside business hours, funds are usually delivered the next business morning.
Most declines on ODSP applications are because the requested loan amount is too high relative to monthly budget headroom. Try a smaller amount, or use one of the free resources above to address the underlying budget gap.
Your full cost of borrowing, all fees, and the repayment schedule are itemized in your loan agreement before you sign. Maximum cost is set by Ontario regulation at $15 per $100 borrowed for payday loans.
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.
ODSP, CPP-D, OAS, and other government benefits are recognized as regular income for application purposes. We're a private lender — we are not affiliated with the Government of Ontario or the Ministry of Children, Community and Social Services. Your full APR, total cost of credit, and repayment schedule are disclosed before you sign.
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