GoDay vs Mogo
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | GoDay | Mogo |
|---|---|---|
| Loan Amounts | $100 – $1,500 | Up to $5,000 (MogoMini line of credit) |
| Interest Rates | $15 per $100 borrowed (where applicable) | Up to 34.37% APR |
| Loan Terms | Up to next payday | Revolving (line of credit) |
| Credit Required | No minimum credit score | Fair credit and above |
| Funding Speed | Same day (Interac e-Transfer) | Pre-approval in 3 minutes |
| Headquarters | Toronto, Ontario | Vancouver, British Columbia |
| Founded | 2012 | 2003 |
| Best For | Canadians who need a quick payday loan with a simple online process | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring |
Loan Amounts
GoDay
$100 – $1,500
Mogo
Up to $5,000 (MogoMini line of credit)
Interest Rates
GoDay
$15 per $100 borrowed (where applicable)
Mogo
Up to 34.37% APR
Loan Terms
GoDay
Up to next payday
Mogo
Revolving (line of credit)
Credit Required
GoDay
No minimum credit score
Mogo
Fair credit and above
Funding Speed
GoDay
Same day (Interac e-Transfer)
Mogo
Pre-approval in 3 minutes
Headquarters
GoDay
Toronto, Ontario
Mogo
Vancouver, British Columbia
Founded
GoDay
2012
Mogo
2003
Best For
GoDay
Canadians who need a quick payday loan with a simple online process
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Pros & Cons
GoDay
Pros
- No minimum credit score — uses proprietary GoDay Score
- Same-day funding via Interac e-Transfer
- Fully online process — no faxing or branch visits
- Licensed and regulated across multiple Canadian provinces
Cons
- Maximum loan amount of $1,500
- High cost of borrowing relative to personal loans
- Must be repaid by next payday
Mogo
Pros
- Free credit score monitoring for all users
- Line of credit flexibility — borrow only what you need
- 100-day trial period to test the product
- Fully digital experience with no branch visits needed
Cons
- Maximum borrowing limit of $5,000
- Interest rate up to 34.37% APR
- Line of credit format may encourage ongoing borrowing
Which Lender Should You Choose?
Choose GoDay if you're looking for a lender that specializes in canadians who need a quick payday loan with a simple online process. They offer loan amounts of $100 – $1,500 with funding as fast as same day (interac e-transfer).
Choose Mogo if you're better described as tech-savvy borrowers who want a flexible line of credit with free credit monitoring. They offer Up to $5,000 (MogoMini line of credit) with fair credit and above credit requirements.
Still unsure? Apply through 365 Loans to compare offers from both lenders and more — with no impact on your credit score.
Frequently Asked Questions
Is GoDay or Mogo better?
It depends on your needs. GoDay is rated 3.5/5 and is best for canadians who need a quick payday loan with a simple online process. Mogo is rated 3.7/5 and is best for tech-savvy borrowers who want a flexible line of credit with free credit monitoring.
Which has lower interest rates?
GoDay charges $15 per $100 borrowed (where applicable), while Mogo charges Up to 34.37% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
GoDay: Same day (Interac e-Transfer). Mogo: Pre-approval in 3 minutes.
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Compare Loan OffersEditorial Note: Our content is reviewed by financial experts for accuracy. We may receive compensation from partner lenders, which does not influence our rankings or recommendations. Read our full disclosures