Apply for an online payday loan of $100 to $1,500 in about five minutes. No faxing, no branch visit, and most of our licensed lenders don't do a hard credit check. If you're approved, the money usually lands in your bank account by Interac e-Transfer within hours.
provinces where payday lending is licensed
largest payday loan allowed by law
days is the longest repayment term
maximum cost per $100 since January 2025
People search for payday loans in a lot of different ways. Here's what each term actually means, so you know exactly what you're applying for.
Everything happens on your phone or computer. You fill in one short form, confirm your identity and income through secure, read-only bank verification, and e-sign your agreement. There's no storefront and no waiting in line.
Once you're approved and sign, your lender sends the funds by Interac e-Transfer straight to your email or phone. Deposit them into any Canadian bank account.
E-Transfer payday loans explainedMost of our lenders skip the hard bureau inquiry and look at your income and banking history instead. Applying won't lower your score.
No credit check payday loans explainedNo fax machine, no printing, no scanned pay stubs. Your ID is a phone photo and your income is verified digitally in a couple of minutes.
Faxless payday loans explainedAutomated checks mean many lenders decide in minutes, and weekday applications are often funded the same day. Nights and holidays can roll to the next business day.
Instant payday loans explainedNo licensed lender in Canada can approve everyone, and any company that guarantees approval or asks for a fee upfront is one to walk away from. What we can promise is this: a low credit score, past bankruptcy or a consumer proposal won't rule you out on its own. Steady income, an active Canadian bank account and a loan you can afford to repay matter far more. Read the full guide to no refusal payday loans.
A payday loan should be quick, but it shouldn't be a mystery. Here's how a typical application moves, the numbers behind it, and the standards every lender we work with has to meet.
When you e-sign your agreement, your lender sends the loan as an Interac e-Transfer to the email or mobile number on your application. You accept it in your banking app like any other transfer, and the money is yours to use right away.
Because e-Transfers move between Canadian banks in minutes, most delays come from the lender's own review, not the transfer. Applying on a weekday morning gives you the best chance of same-day funds.
Funds from your lender are available in chequing.
Repayment of $570.00 is due on your next payday.
A hard credit check is a formal inquiry with Equifax or TransUnion that shows up on your report. Most payday lenders we work with don't do one. They focus on whether a loan fits your budget right now.
Some lenders may run a soft check, which doesn't affect your score and isn't visible to other lenders. Either way, a past credit problem isn't an automatic no.
Faxing pay stubs used to be the slowest part of borrowing. Now your lender confirms income through secure, read-only bank verification, the same technology many Canadian banks and fintech apps use. It can't move money and it doesn't store your password.
If you'd rather not connect your bank, some lenders will accept an uploaded bank statement instead. It just takes a little longer.
Pick how much you need, from $100 to $1,500. Provincial rules limit a payday loan to a share of your net pay, so borrow only what your next paycheque can cover.
Tell us about yourself, your income and your pay dates. It takes about five minutes and doesn't affect your credit score.
Confirm your ID and income digitally. A licensed lender shows you the amount, total cost, APR and due date. Nothing is final until you sign.
E-sign your agreement and your funds are sent by Interac e-Transfer. Repayment comes out automatically on the due date you agreed to.
Payday lending is licensed provincially, so availability depends on where you live. We work with lenders in all nine provinces that have a payday loan law.
Rules on maximum loan size, cancellation periods and repeat borrowing vary by province. Your lender's agreement will spell out the rules that apply where you live. See the full province-by-province guide.
Borrowing money means trusting someone with your personal details. Here's who we are, how we work, and why you can hold us to it. More about us.
For 12 years we've helped Canadians find short-term credit, and we've watched the rules change from $21 per $100 down to today's $14 cap.
We explain before we sell. Every page is checked against provincial payday loan laws and the Criminal Code cost cap, and updated when they change.
We work only with provincially licensed payday lenders, and we point you to independent sources like the Financial Consumer Agency of Canada (FCAC).
256-bit SSL on every page, read-only bank verification, and personal information handled under Canada's privacy law (PIPEDA). We never sell your data.
Read all payday loan FAQs, or email support@optionscredit.ca and a real person will get back to you.
A payday loan in Canada is a short-term loan of up to $1,500 that you repay in one payment, usually on your next payday, within a maximum of 62 days (in Alberta, loans run 42 to 62 days and are repaid in instalments). Since January 1, 2025, federal law caps the total cost at $14 per $100 borrowed, including all fees. Payday loans are licensed provincially and are available in nine provinces; Quebec and the territories do not have a payday loan regime.
Most lenders we work with do not run a hard credit check with Equifax or TransUnion for payday loans. Instead, they look at your income, how often you are paid and your recent banking history. Some may run a soft check, which does not affect your credit score. A low credit score on its own does not automatically disqualify you.
The online application takes about five minutes. Many lenders give a decision within minutes, and once you e-sign your agreement, funds are often sent by Interac e-Transfer within a few hours. Applications made late at night, on weekends or on holidays may be funded the next business day.
No licensed lender can guarantee approval, and a lender that promises no refusal or asks for an upfront fee is a warning sign. What we can offer is that bad credit alone will not rule you out: approval is based mainly on steady income, an active Canadian bank account and your ability to repay.
The legal maximum is $14 for every $100 borrowed. A $500 payday loan can cost up to $70, so you would repay up to $570. On a 14-day loan that works out to an annual percentage rate of about 365%, which is why payday loans should only be used for short-term emergencies.
We'll never encourage you to borrow more than you need or to take a new payday loan to pay off an old one. If you're finding it hard to repay, contact your lender before the due date; many offer an extended payment plan, and some provinces require one after repeat borrowing.
Five minutes to apply, no credit score impact, and no obligation to accept the offer.