Compare payday lenders in Canada by licence, channel, and speed. The fee cap does not change. In Ontario and other provinces that use the same cap, $14 per $100 is the legal maximum. Borrow $500 and you repay $570. Canadian PayDay Loan is not a lender. The form sends your request to partner lenders.
A comparison site cannot beat the cap. It can only send you to a licensed lender that still has to print that math on the contract.
Compare payday lenders: what actually differs
| Name | Type | Typical path | Fee in a capped province |
|---|---|---|---|
| iCash | Online lender brand | Web application, e-Transfer if approved | Cannot exceed the provincial cap ($14 per $100 in Ontario) |
| Money Mart | Store plus online | Walk in or apply on their site | Same cap. Extra store products are not payday loans |
| My Canada Payday | Online marketplace | Form that routes to a lender | The lender you land on must still follow the cap |
| Wagepay and similar online brands | Online lender brand | Web application | Same cap if they are licensed for payday loans |
| This site | Information and referral | Form to LeadScout partners | We do not set the fee. The partner contract does |
If two licensed payday lenders are in the same province, the legal ceiling is the same. Shop the licence, the deposit time, and whether you must visit a store. Do not shop for a secret lower payday rate. That is not how the cap works.
Compare payday lenders vs comparison sites
Finder, Loans Canada, and Smarter Loans publish tables. They are not the lender either. Use them the same way you use this page: read the $14 example, then open a licensed lender and read that contract. A ranking that says “best” without the $570 math is advertising, not a price cut.
How to compare payday lenders without getting trapped
- Licence number you can search on the provincial site
- Fee written as dollars per $100, not only APR
- Repayment date on or after your next pay
- No demand that you roll the loan with the same lender
- Two-business-day cancel in Ontario
Ontario search: business licence search. Rights: your rights.
Cost reminder
Compare payday lenders on service, not on a fantasy rate. $100 costs up to $14. $500 costs up to $70. $1,500 costs up to $210. Full table: payday loans in Canada.
Related pages
- Ontario rules and $500 example
- Cheaper options than a payday loan
- Online loans if your credit is weak
FAQ
Who is cheapest? In a capped province, licensed payday lenders share the same ceiling. A store is not cheaper because it has a sign.
Is iCash better than Money Mart? Different door. Same cap if both are licensed for payday loans in that province. Check the licence and the deposit method.
Is this site a lender? No. Paid referrals.
Advertising disclosure
canadianpaydayloan.ca is not a lender. It is an information site. Read the terms on each partner site. We are paid for referrals. We do not give financial advice. Names in the table are examples of channels, not a recommendation and not a claim that we represent those brands.