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Installment loans in Ontario
Borrow $300 to $3,000 and repay it over three to four months, in payments that match your pay schedule. Bad credit can still be approved.
Reviewed November 5, 2026 by the 911cash team. Rules come from official provincial and federal sources, listed at the end of this page. Dollar figures are examples for illustration only.
In short
Bad credit doesn't stop you from applying in Ontario. With 911cash you send one application to lenders in our network, which typically offer $300 to $3,000 over 90 to 120 days at 22% to 32% APR. As everywhere in Canada, those loans fall under the Criminal Code's 35% annual cap, which counts fees too. Ontario payday loans follow their own rules and can cost up to $14 per $100 for about two weeks, so a $500 payday loan means $570 due in a single payment.
Getting an installment loan in Ontario, step by step
- Apply once. The 911cash application takes about five minutes on a phone or computer, from anywhere in Ontario.
- A lender reviews it. We pass your application to lenders in our network. One that can help contacts you and asks you to complete Instant Banking Verification, a read-only look at your recent transactions. There are no documents to upload.
- Read the contract. The lender shows you the rate, every fee and the total you'll repay before you agree to anything.
- Get the money. Funds are deposited once you sign, often the same day.
911cash is not a lender. The lender that approves you sets the rate, fees and payment dates.
Your rights as a borrower in Ontario
Ontario doesn't have a separate licence for installment lenders, so the main protections come from federal law and the lender's disclosure:
- Since January 1, 2025, the Criminal Code caps most consumer loans at a 35% annual percentage rate, and the cap includes fees.
- The lender's disclosure and contract must show the rate, every fee and the total you'll repay.
- You don't have to buy loan insurance or another optional product to get a personal loan.
- Ask whether you can repay early, and whether there's a charge for it.
If you have a problem with a lender, raise it with the lender first. If that doesn't resolve it, contact the regulator for that type of lender; for lenders that aren't federally regulated, that's Consumer Protection Ontario.
Payday loan rules in Ontario
- The total cost can't be more than $14 for every $100 borrowed.
- You have two business days to cancel, without a penalty or a reason.
- No rollovers: a lender can't give you a new payday loan before the first one is repaid.
- A single loan can't be more than 50% of your net pay.
- After three payday loans within 63 days, the lender must offer an extended payment plan, and you can repay early without a penalty.
- Payday lenders must be licensed by the province.
What an installment loan costs in Ontario
Typical terms of the lenders in our network, last reviewed November 2026. Your lender's offer may differ.
- Amount
- $300 to $3,000
- Repaid over
- 90 to 120 days
- Annual rate (APR)
- 22% to 32%Based on the risk of the application
- Membership fees
- May applyIncluded in the total your lender shows you
Borrowing $500 in Ontario: payday loan vs installment loan
| Ontario payday loan | Installment loan at 32% APR | |
|---|---|---|
| How you repay | One payment on your next payday | 7 payments every 2 weeks over 98 days |
| Each payment | $570.00 | About $74.98 |
| Cost of borrowing | $70.00 | About $24.86 |
| Total repaid | $570.00 | About $524.86 |
Example for illustration only. Payday loan at the $14 per $100 maximum. Installment loan at 32% APR, the top of the typical range, before any membership fees.
Under the Criminal Code, lenders in Canada can't charge more than a 35% annual percentage rate, counting fees and other costs of getting the loan. That limit has applied since January 1, 2025. Work out payments for your own amount.
Who can apply
- 18 or older
- A full-time job or steady self-employed income
- Not in bankruptcy
- A Canadian citizen
- An online bank account you can verify
Lenders look mostly at your income and recent banking, so a low credit score alone doesn't rule you out. You can apply from Toronto, Ottawa, Mississauga, Brampton, Hamilton, London, Kitchener, Windsor, Sudbury and Thunder Bay, or anywhere else in Ontario. Applying doesn't commit you; you only agree to a loan when you sign a lender's contract.
Checking a lender
Consumer Protection Ontario licenses payday lenders and handles complaints about businesses it regulates. The payday loan rights page explains how to check a licence and what to do if a lender breaks the rules.
Free help with debt
If you'd be borrowing to keep up with other debts, a non-profit credit counsellor can build a budget with you and may arrange lower payments with your creditors.
- Credit Counselling Canada lists accredited non-profit credit counsellors across Ontario. A first meeting should never cost you anything.
Before borrowing, see cheaper alternatives to payday loans.
Sources
- Government of Ontario, Payday loan: your rights: the $14 per $100 maximum, cancellation, rollovers and licensing.
- Financial Consumer Agency of Canada, Personal loans: optional insurance, disclosure, provincial regulators.
- Financial Consumer Agency of Canada, Payday loans: provincial payday loan cost limits.
- Criminal Code, section 347: the 35% annual percentage rate limit.
- Credit Counselling Canada: accredited non-profit credit counsellors.
- Typical network terms, last reviewed November 2026. Payments are equal installments, with interest per period = APR × days in the period ÷ 365.
General information, not financial or legal advice. Lenders set their own terms and provincial rules change, so check your contract and the sources above.
Apply from anywhere in Ontario
One application, sent to lenders in our network. You only agree to a loan when you sign a lender's contract.