Payday loan availability across Canada
Payday loans are regulated provincially. Nine provinces have a payday loan law and license lenders, and we work with lenders in all nine. Since January 1, 2025, the federal Criminal Interest Rate Regulations cap the cost at $14 per $100 in every one of them, with a maximum loan of $1,500 and a maximum term of 62 days. What still differs is how much you can borrow, how long you have to cancel, and the rules on repeat loans.
Province-by-province rules
| Province | Maximum loan | Right to cancel | Term | Regulator |
|---|---|---|---|---|
| Ontario | $1,500 or 50% of net pay | 2 business days | Up to 62 days | Consumer Protection Ontario |
| Alberta | $1,500 | 2 business days | 42 to 62 days | Service Alberta |
| British Columbia | $1,500 or 50% of net pay | 2 business days | Up to 62 days | Consumer Protection BC |
| Saskatchewan | $1,500 or 50% of net pay | Next business day | Up to 62 days | FCAA |
| Manitoba | $1,500 or 30% of net pay | 48 hours | Up to 62 days | Consumer Protection Office |
| Nova Scotia | $1,500 | 48 hours (online) | Up to 62 days | Service Nova Scotia |
| New Brunswick | $1,500 or 30% of net pay | 48 hours | Up to 62 days | FCNB |
| Prince Edward Island | $1,500 | 2 days | Up to 62 days | PEI Consumer Services |
| Newfoundland and Labrador | $1,500 or 50% of net pay | Set by regulation | Up to 62 days | Service NL |
A few provinces stand out. Alberta requires every payday loan to run 42 to 62 days and be repaid in instalments, and Manitoba and New Brunswick limit loans to 30% of your net pay.
Payday loan guides by province
Quebec and the territories Not available
Quebec, Yukon, the Northwest Territories and Nunavut haven't set up payday loan regimes, so loans there are subject to the general criminal interest rate of 35% APR and licensed payday lenders don't operate. Read our Quebec guide for why, and for lower-cost alternatives.