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Payday lending is provincially regulated: the fee you can be charged per $100, how much of your pay a lender can advance, and your cancellation window all depend on where you live.
| Province | Fee per $100 | Max advance | Cooling-off |
|---|---|---|---|
| Alberta | $14 | 50% of net pay | 2 business days to cancel |
| British Columbia | $14 | 50% of net pay | Two full business days to cancel |
| Manitoba | $14 | 30% of net pay | 48 hours to cancel |
| New Brunswick | $14 | 30% of net pay | 48 hours to cancel |
| Newfoundland and Labrador | $14 | 50% of net pay | 48-hour cooling-off |
| Nova Scotia | $14 | 50% of net pay | 48 hours to cancel an online loan |
| Ontario | $14 | 50% of net pay | 2 business days to cancel |
| Prince Edward Island | $14 | No net-pay percentage limit; $1,500 maximum applies of net pay | Two business days to cancel |
| Quebec | No payday lending regime; instalment and micro loans operate under the 35% federal cap instead | ||
| Saskatchewan | $14 | 50% of net pay | Cancel by end of next business day |
| Northwest Territories | No payday lending regime | ||
| Nunavut | No payday lending regime | ||
| Yukon | No payday lending regime | ||
Provincial rules module: ON. This page carries the strongest regulatory content in the category.
Payday loans are priced as a fee per $100 borrowed, not as an annual rate.
The two are not comparable without conversion, and the conversion is unflattering. A $15 fee per $100 over 14 days is not 15% interest. Annualised, it is many times the 35% federal cap, which is why payday lending is regulated provincially and separately rather than under the cap alone.
Everyday borrowing under $1,500 is 66.2% of Canadian personal demand, averaging $495.
Payday fees are capped by province, and the caps differ.
| Province | Maximum fee per $100 |
|---|---|
| Ontario | $14 |
| Alberta | $15 |
| British Columbia | $15 |
| Manitoba | $17 |
| Saskatchewan | $17 |
| Nova Scotia | $15 |
| New Brunswick | $15 |
| Newfoundland and Labrador | $14 |
| Prince Edward Island | $15 |
Provincial payday regulations, verified August 2026.
Quebec is the exception, and it is instructive. Quebec caps credit at 35% annual interest with no separate payday regime. At that ceiling the product is not commercially viable, so payday lending effectively does not operate there. Quebec applicants on our platform request the highest average of any province at $575, because the smallest borrowing has nowhere to go.
The average everyday request in Canada is $495.
At Ontario's $14 per $100, borrowing $495 for 14 days costs roughly $69 in fees. Repaying on time ends it there. Rolling it forward repeats the fee, which is the mechanism that turns a two-week product into a months-long cost.
Two lenders in our network, Bree and Nyble, offer advances at 0% APR at this size. For a request under $750, that comparison is the most valuable thing on this page.
Payday lending has the lowest bar of any product in our network, which is precisely why people use it.
Generally required: regular income, an active Canadian bank account, and identification. Credit is usually not the deciding factor.
Ask the provider for time. Utilities, landlords and repair shops will often arrange a no-interest payment plan if asked before an account goes to collections.
Employer payroll advance. Many employers advance against an upcoming cheque at no cost. It is rarely advertised, so ask payroll directly.
Zero-interest advances. Bree and Nyble offer 0% advances at this size.
Each of these costs less than a payday advance. We list them because a loan is not always the right answer, even on a page about loans.
It is set provincially, and ranges from $14 to $17 per $100 borrowed. Quebec has no payday regime and caps credit at 35% annual interest, which effectively removes the product there.
No. A payday advance is repaid in a single payment on your next pay date. An instalment loan is repaid over months in scheduled payments. The pricing structures are not comparable.
Usually. Payday lenders assess income and banking rather than credit score, which is why the product exists.
Fees repeat. Provincial rules limit rollovers and set cooling-off requirements, and they differ by province. Contact the lender before the due date rather than after.
Frequently. Bree and Nyble offer 0% advances at this size, and a payroll advance or a payment plan with the provider costs nothing at all.
