The 7 Best Payday Loans in Toronto [2025]

No. This is considered borrowing money on the same day, which can be an expensive mistake.

The companies charge additional fees for this practice because it’s considered a higher risk. The best payday loan in Toronto is the one you don’t have to pay back right away, so why borrow money on the same day? It’s much better to spread out your loans with different lenders so you can avoid paying unnecessary fees.