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Province · ON
Payday loans in Ontario cost at most $14 per $100 borrowed and cannot exceed $1,500 or half of your net pay, whichever is lower. Loans run up to 62 days, you have two business days to cancel without a fee, and every lender must be licensed under the Payday Loans Act, 2008.
Last reviewed by the Public Cash Services editorial team
| Maximum cost of borrowing | $14 per $100 borrowed, all fees included |
|---|---|
| Maximum loan amount | $1,500 |
| Income-based limit | No more than 50% of your net pay. |
| Loan term | Up to 62 days. |
| Right to cancel | 2 business days |
| Rollovers | Not allowed. A lender cannot extend or renew a payday loan for an extra fee, or issue a new loan to pay off the old one. |
| Dishonoured payment | A one-time fee (commonly up to $20) if a cheque or pre-authorized debit is dishonoured. |
| Licence required | Yes — storefront and online lenders |
| Regulator | Consumer Protection Ontario (Ministry of Public and Business Service Delivery) · 1-800-889-9768 |
| Legislation | Payday Loans Act, 2008 (Ontario) |
Sources: Consumer Protection Ontario (Ministry of Public and Business Service Delivery); Financial Consumer Agency of Canada; Criminal Interest Rate Regulations. Last reviewed November 14, 2026.
Check a lender’s licence with the regulator (opens in a new tab)
Up to $1,500, but never more than 50% of your net pay for the pay period. A lender must work this out from your recent income before lending.
If you take a third payday loan within 63 days, Ontario requires the lender to offer an extended payment plan, so you repay in instalments across several pay periods rather than all at once.
Some municipalities add their own rules. The City of Toronto licenses payday loan establishments, and Hamilton limits where they can open.
Cash 4 You is an Ontario-only lender with a store network offering payday loans and larger instalment loans.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Cash 4 You.
Cash Money has offered payday loans in Canada since 1992, online and through a store network, alongside a line of credit.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Cash Money.
easyfinancial, part of goeasy, offers instalment loans from $500 to $20,000 unsecured through about 400 branches and online in every province.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to easyfinancial.
Fairstone is a national instalment lender with more than 250 branches, offering unsecured loans up to $25,000 and larger secured loans for homeowners.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Fairstone.
Fig is an online personal-loan lender for borrowers with good credit, offering $2,000 to $35,000 at rates from 8.99% APR.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Fig.
Focus Cash Loans (Focus Financial) offers online payday loans in Alberta, British Columbia and Ontario.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Focus Cash Loans.
GoDay is a Toronto-based online payday lender licensed in eight provinces, from British Columbia to Prince Edward Island.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to GoDay.
iCash is an online-only payday lender serving seven provinces, with applications and e-Transfer funding available around the clock.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to iCash.
LendDirect offers an online personal line of credit of up to $15,000, with no fixed end date and interest charged only on what you draw.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to LendDirect.
Loan Express is an online payday lender that has operated since the mid-2000s and serves eight provinces, including Newfoundland and Labrador.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Loan Express.
Magical Credit is a Toronto-based online lender offering short-term cash loans in Ontario at $14 per $100.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Magical Credit.
Money Mart is Canada’s largest storefront payday lender, with more than 360 locations plus online applications.
“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Money Mart.
Estimated cost Ontario
Payday loans are expensive short-term credit. Results are estimates only. Your lender’s agreement shows the actual cost, dates and fees.
Compare licensed lenders$1,500 or 50% of your net pay, whichever is less.
Yes. You have two business days to cancel by returning the money, with no fee and no reason needed.