Payday loan rules by province and territory
Payday loan rules vary by province and territory. The table below sets out the cost cap, maximum loan, income limit, cooling-off period and rollover rule for…
Rules by jurisdiction
Nine provinces operate an approved payday lending regime. Since 1 January 2025 the federal cost cap of $14 per $100 applies in all of them. Quebec does not permit payday lending, and the territories have no regime, so the federal 35% APR applies there.
| Province / Territory | Max cost per $100 | Max loan | Income limit | Cooling-off period | Rollover |
|---|---|---|---|---|---|
| Ontario | $14 per $100 | $1,500 | 50% of net pay | 2 business days | Not permitted |
| British Columbia | $14 per $100 | $1,500 | 50% of net pay | 2 business days | Not permitted |
| Alberta | $14 per $100 | $1,500 | — | 2 business days | Not permitted |
| Saskatchewan | $14 per $100 | $1,500 | 50% of net pay | Next business day | Not permitted |
| Manitoba | $14 per $100 | $1,500 | 30% of net pay | 48 hours (excluding Sundays and holidays) | Permitted with limits |
| New Brunswick | $14 per $100 | $1,500 | 30% of net pay | 48 hours (excluding Sundays and holidays) | Not permitted |
| Nova Scotia | $14 per $100 | $1,500 | — | Next business day (2 days for online lenders) | Not permitted |
| Prince Edward Island | $14 per $100 | $1,500 | — | 2 business days | Not permitted without conditions |
| Newfoundland and Labrador | $14 per $100 | $1,500 | 50% of net pay | 2 business days | Not specified |
| Quebec | Not permitted (35% APR max credit rate) | $1,500 | — | 10 days | Not specified |
| Yukon | No regime (35% APR applies) | $1,500 | — | — | — |
| Northwest Territories | No regime (35% APR applies) | $1,500 | — | — | — |
| Nunavut | No regime (35% APR applies) | $1,500 | — | — | — |
Source: FCAC — Payday loans — Financial Consumer Agency of Canada. Retrieved 2026-09-16.
Source: Criminal Interest Rate Regulations: SOR/2024-114 — Government of Canada (Canada Gazette, Part II). Retrieved 2026-09-16.
Sources
- FCAC — Payday loans — Financial Consumer Agency of Canada
- Criminal Interest Rate Regulations: SOR/2024-114 — Government of Canada (Canada Gazette, Part II)
Frequently asked questions
Do all provinces have the same payday loan rules?
No. The cost cap is now $14 per $100 everywhere a payday regime exists, but income limits, cooling-off periods and rollover rules differ by province.
Which provinces do not allow payday loans?
Quebec does not permit payday lending. The three territories have no payday lending regime, so the federal criminal rate of interest applies.
Can I roll over a payday loan?
Rollovers are prohibited in most provinces and permitted only with limits in Manitoba. Check your province's rules before renewing a payday loan.
Important legal information
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