Payday loan rules by province and territory in Canada
Since January 1, 2025, the cost cap is the same across the nine provinces with payday loan laws. Almost everything else is still set locally: how much you can borrow, how long you have to cancel, and what happens if you borrow again. Find your province below.
Reviewed November 2026 by the Jessica’s House editorial team against federal and provincial lending rules. About 4 minutes to read.
Short answer
Payday loans are regulated by each province. In the nine provinces with payday loan laws (BC, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, PEI and Newfoundland and Labrador), the cost is capped at $14 per $100 and loans are limited to $1,500 and 62 days. Quebec, Yukon, the Northwest Territories and Nunavut don’t have payday loan regimes, so the Criminal Code’s 35% APR limit applies and payday loans aren’t offered there.
Provinces compared
| Province | Cost cap | Limit per loan | Cancel for free | The rule to know |
|---|---|---|---|---|
| Ontario | $14 / $100 | 50% of net pay | 2 business days | Extended payment plan on a 3rd loan in 63 days |
| British Columbia | $14 / $100 | 50% of net income in term | 2 business days | Cancel any time after disclosure failures |
| Alberta | $14 / $100 | Up to $1,500 | 2 business days | 42-day minimum term, repaid in instalments |
| Saskatchewan | $14 / $100 | 50% of take-home pay | To end of next business day | One loan at a time; 30% a year default interest |
| Manitoba | $14 / $100 | 30% of calculated net pay | 48 hours | $5 per $100 on a repeat loan within 7 days |
| New Brunswick | $14 / $100 | 30% of latest net pay | See the province guide | Brokers need an FCNB licence too |
| Nova Scotia | $14 / $100 | Up to $1,500 | See the province guide | Permit shown at the top of the site; $20 default cap |
| Prince Edward Island | $14 / $100 | Up to $1,500 | To end of 2nd day | 7 days between loans |
| Newfoundland and Labrador | $14 / $100 | 50% of expected net pay | See the province guide | Instalments on a 3rd loan in 62 days |
| Quebec | 35% APR limit | Not offered | n/a | Personal loans at or below 35% APR |
| Yukon, NWT, Nunavut | 35% APR limit | Not offered | n/a | No payday regime; the general criminal rate applies |
Summary as reviewed in November 2026. Every province also caps a single payday loan at $1,500 and 62 days. Source for the federal cap: Criminal Interest Rate Regulations (SOR/2024-114).
Ontario city guides
Ontario is home to most of our borrowers, so we’ve written a guide for each major city, covering who delivers Ontario Works there, the local utility programs and the pay patterns that matter.
Questions people ask
Is the payday loan cost the same in every province?
In the nine provinces with payday loan laws, yes: $14 per $100 since January 1, 2025. A province can set a lower cap, but none currently has.
Which province has the lowest payday loan limit?
Manitoba and New Brunswick, where a loan can be no more than 30% of net pay. Most other provinces allow 50%.
Why aren’t payday loans offered in Quebec and the territories?
They don’t have a payday loan regime with federal designation, so lenders there can’t charge more than 35% APR. At that rate, two-week payday loans aren’t viable.
Apply under your province’s rules
Tell us where you live, and we’ll only match you with lenders licensed there.