Ontario payday loan guides and resources
Plain-English answers about borrowing in Ontario — the rules, the real costs, and the choices you have. Written for Ontario residents, not for lawyers.
Guides
How to get a payday loan in Ontario
A step-by-step guide to applying for a payday loan in Ontario, what you need to qualify, how much you can borrow, and how long approval takes.
Read the guide Costs & feesPayday loan costs and fees in Ontario
How much a payday loan costs in Ontario, the $14 per $100 legal maximum, what lenders cannot charge, and how the APR on a short-term loan is calculated.
Read the guide Bad creditPayday loans with bad credit in Ontario
Whether you can get a payday loan with bad credit in Ontario, what lenders actually look at, and how to improve your chances of approval.
Read the guide Laws & rightsPayday loan laws and your rights in Ontario
Your rights under Ontario's Payday Loans Act, 2008 — cooling-off periods, cost disclosure, the rollover ban, extended payment plans, and how to make a complaint.
Read the guide AlternativesAlternatives to payday loans in Ontario
Lower-cost alternatives to payday loans in Ontario, from credit counselling and bank options to assistance programs — and when a payday loan does make sense.
Read the guidePayday loans by city
Credit Day lends to residents across Ontario. Find local information for the city you live in.
The essentials at a glance
Payday lending in Ontario is legal and tightly regulated. Every licensed lender in the province must follow the same rules on cost, disclosure, and repayment — so the key facts are the same wherever you borrow.
- Cost: a maximum of $14 for every $100 borrowed, set by the Payday Loans Act, 2008.
- Amount: loans start at $100 and are capped at $1,500, and cannot exceed 50% of your expected net pay for the term.
- Term: typically 14 to 62 days, aligned with your pay cycle.
- Licensing: the Ministry of Public and Business Service Delivery and Procurement.
- Your rights: full cost disclosure, a cooling-off period, and a free extended payment plan if you cannot repay on time.
