GoDay Payday Loan

- Borrow from $100-$1,500
- Approval decision in minutes
- APR & loan term vary by province
Sometimes an unexpected emergency can create a difficult time for you financially. Even if you have a bad credit score and find yourself in a financial rut, there are options out there.
Payday loans can be helpful when emergencies strike and you have no other financing options. If you need cash to see you through until your next paycheque, read this guide before accepting a loan.
Province | Maximum allowable cost of borrowing |
Alberta, British Columbia, New Brunswick, Ontario & Prince Edward Island | $15 per $100 borrowed |
Manitoba & Saskatchewan | $17 per $100 borrowed |
Nova Scotia | $19 per $100 borrowed |
Newfoundland and Labrador | $21 per $100 borrowed |
Northwest Territories, Nunavut & the Yukon | $60 per $100 borrowed |
Quebec | Limit of 35% annual interest rate (AIR) |
Online and storefront lenders that operate 24/7 can provide loans will accept applications any time of the day or night. When you apply in person at a store, you can often have your money in under an hour. If you’re looking for online payday loans, many lenders advertise the e-Transfer of funds within less than an hour too. Keep in mind, however, that your bank account might not show the funds until the next business day.
Payday loans are normally due in full on your next payday, whether that is 1 week, 2 weeks or a month from the time you receive it. Interest rates, maximum loan amounts and repayment terms vary between lenders, provinces and your personal financial situation including your income.
If you need cash on the weekend, look for an online lender that offers instant approval and email money transfers (or a similarly quick method for transmitting funds). If you’re approved, you can receive funds within minutes.
Remember, that not all online lenders offer instant approval. And even some that do may send funds through slower means. So, before you sign any loan agreement, check with your lender to verify the processing time and transfer speed.
Alternatively, you can apply for a loan in person at a physical branch, where you might be able to leave with your loan money right away or within a couple of hours. Some lenders even offer payday loan money on prepaid debit cards. If you already have a prepaid debit card that’s eligible to use, you could simply load the card when you need access to additional money.
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 fees and maximum loan amounts can vary. Ensure that any lender you choose abides by the laws of the place you live.
As of January 2019, 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.
Depending on where you live, either federal or provincial regulations determine the maximum amount payday loan providers can offer.
Hover over your province in our interactive map to see if payday loans are regulated on the provincial or territorial level and the maximum cost per amount borrowed – darker shades correspond with a higher cost.
When you need money in a hurry, even a bad deal can look good. Be sure to compare lenders in order to find a competitive loan that suits your financial needs. Here are some things to consider when comparing your options:
Check the websites of any lenders you’re interested in to confirm they operate in your province of residence.
Payday loans can be very expensive, so if you decide to get one, make sure you can afford repayments first. If you don’t think you can handle repayments, check out alternative ways of getting cash or cutting down on your expenses such as getting an installment loan or consolidating your debt.
Check out this guide to learn more about getting a cash loan even if you have bad credit.
Read this PrestoCash review to help you decide whether you should apply.
You can get a payday loan with a low income, but watch out for high interest rates.
Some payday lenders accept AISH as a valid source of income. Find out where you can get approved for AISH payday loans.
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