Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Get a payday loan for one month

Need some cash to see you through to your next payday? Consider a payday loan for one month.

Do you only get paid once a month? Payday loans offer one of the quickest ways to get your hands on cash. While these loans usually incur high interest rates and fees, you can typically borrow anywhere between $100 and $2,000. You usually have to repay the amount borrowed by your next paycheque, whether that’s 1 week, 2 weeks or 1 month from now.

⚠️ Warning: Be cautious with payday loans
Payday loans are expensive. If you're experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). Consider payday loan alternatives:
  • Visit A free and confidential service that connects you to organizations that can help with finances, food, housing and more.
  • Debt relief providers. There are services to help you reduce your debt payments.
  • Payment extensions. Talk with bill providers about longer payment plans or due-date extensions.

Compare payday loans you can repay over a month

1 - 2 of 2
Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces Offer Table description
GoDay Payday Loan
$100 - $1,500
Up to 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer®
To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.
iCASH Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer®
Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. 24/7 instant approval and e-Transfer funding. Income of at least $800/month required.
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs as they may vary from our results.
Province Maximum allowable cost of borrowing
Alberta, British Columbia, New Brunswick, Ontario & Prince Edward Island $15 per $100 borrowed
Manitoba, Saskatchewan & Nova Scotia $17 per $100 borrowed
Newfoundland and Labrador $14 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)

What is a one month loan?

One month payday loans, also commonly called 30-day loans, are short-term loans of up to $1,500 that you’ll have to start paying back within a month. Since these types of loans are borrowed against your paycheque, they’re designed to help you out with outstanding expenses between pays. However, keep in mind that the high fees of payday loans make them very expensive, so only opt for a payday loan as a last resort.

Are one month payday loans available in my province or territory?

Payday loans are available in all provinces and territories across Canada. You should be aware that payday loans are regulated by individual provinces, which means costs and fees can vary. Ensure that any lender you choose abides by the laws of the place you live.

As of September 2021, the Yukon, Nunavut and the Northwest Territories do not have legislation regulating payday loans at the territorial level. Payday loans are regulated in these territories at the federal level only.

Find out how much the lenders across Canada can charge

How quickly can I receive a 30-day loan?

How quickly you receive your one month payday loan will depend on whether you apply for it in person at a physical store or online.

If you apply for your loan in person at a physical store, you can typically receive your loan the same day. Applying online generally means you can be instantly approved, and you’ll often be able to receive your funds within the same business day as an e-transfer. You can compare reputable online payday loan lenders in the table above.

With a 30-day payday loan, the repayment terms will be based on your pay schedule and can be debited from your bank account automatically. If you use an in-store payday loan lender, they may instead require that you give them a post-dated personal cheque for the amount that will be owed, which will include the principal amount and any fees.

Questions to ask when comparing 30-day loan options

It is always a good idea to compare your one month payday loan options before applying. Here are three important questions to consider when comparing your loan and lender options:

  • What fees are involved?
    Payday loans charge interest in the form of fees, which are normally charged by every $100 borrowed and are higher than the fees a conventional loan comes with. Local regulations determine how much a lender can charge per $100 borrowed, however, not all lenders will have you pay the maximum amount. Make sure to review the loan’s term and conditions so there are no surprises down the road and compare different lenders in order to score a better interest rate.
  • What kind of repayment flexibility is allowed?
    Some lenders allow you to repay the loan in full ahead of time without charging you any additional fees, while other lenders will charge you a penalty for repaying early. Some lenders will allow you to choose different payment methods, including credit cards, Western Union and MoneyGram. An important note is to avoid paying late, as this will incur additional fees and increase the cost of your loan.
  • What amount do I need to borrow?
    The more money you borrow, the more you will be charged in fees. Only borrow the amount you need and make sure you can repay the loan on time. Consider carefully before accepting an amount higher than you initially asked for if offered by the lender, as this will incur higher fees.

Benefits and drawbacks of one month loans


  • You can get the money quickly. Lenders can have your money to you within the hour or up to 1-2 business days if you apply online, or in as little as a few hours if you apply in person.
  • Use the money any way you want. Once you get your money, you can spend it on anything, as long as it’s used for legitimate purposes.
  • You can apply with bad credit. Most payday lenders don’t run credit checks with the two major credit bureauxs in Canada: Equifax and TransUnion. If they do run a check and you have bad credit, you will likely be charged higher fees than someone who has good credit.


  • Higher than normal fees. While payday loan interest rates are regulated at the provincial or federal level in Canada, payday loans are infamous for their higher than normal fees.

Bottom line

Getting a payday loan that you can repay in 30 days can help to see you through until you receive your next paycheque. Whether you need money to cover you for unexpected emergencies or special occasions, be sure to compare your options before applying for a loan.

Frequently asked questions about 30-day loans

More guides on Finder

Go to site