Reference

Payday Loan Cost Limits by Province

Payday lending is regulated provincially inside a federal framework. Federal regulation caps the cost of borrowing at $14 per $100 advanced where a province licenses payday lending, and provinces may set a lower cap under their own legislation. The binding limit is the lower of the two.

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Values in the table are published maximum costs of borrowing. Where a province does not operate a licensed payday lending regime, no lawful maximum exists because the product is not permitted there.

A cap is a ceiling, not a price. A licensed lender may charge less, and the total you are offered depends on the amount advanced and the province. Always confirm the current figure with your provincial consumer protection regulator before borrowing, because caps are amended from time to time and this table is only as current as its stated as-of date.

Payday loan cost limits by province
Jurisdiction or item	Published value	Publisher	As of
Federal maximum cost of borrowing (licensed payday loan)	$14 per $100 advanced Payday Lending Regulations, SOR/2024-114. Applies where a province operates a licensed payday lending regime.	Canada Gazette, Government of Canada	2024-06-19
Quebec	No licensed payday lending regime Quebec does not license payday lenders, which effectively prohibits the model in the province.	Financial Consumer Agency of Canada	2026-09-17
Newfoundland and Labrador	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Prince Edward Island	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Nova Scotia	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
New Brunswick	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Ontario	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Manitoba	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Saskatchewan	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Alberta	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
British Columbia	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Yukon	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Northwest Territories	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17
Nunavut	Not reproduced here — confirm with the publisher Provincial maximum not reproduced here. Confirm the current cap with the provincial regulator; the federal cap of $14 per $100 applies unless the province sets a lower figure.	Financial Consumer Agency of Canada	2026-09-17

We do not reproduce a figure we have not verified against the publisher's current publication. Where no verified value is held, the row links to the source instead of showing a number.

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Frequently asked questions

What is the federal payday loan limit in Canada?

Federal payday lending regulations cap the cost of borrowing at $14 per $100 advanced where a province operates a licensed payday lending regime.

Can a province set a lower limit?

Yes. Provinces may legislate a lower maximum under their own consumer protection rules, and the lower figure applies.

Are payday loans legal in Quebec?

Quebec does not operate a licensed payday lending regime, which effectively prohibits the payday loan model in the province.