Payday Loan Calculator for Canada
Estimate the fee, total repayment, and APR for a payday loan in your province. No personal information required — just the amount, your province, and the term.
Estimate your loan
Adjust the amount, province, and loan term. Results update instantly.
Estimated cost of borrowing
Use this calculator as a starting point — not a signal to borrow
Payday loans should only be used for short-term emergencies — a genuine, one-time expense that you can comfortably repay on your next payday. They are among the most expensive forms of credit in Canada, which is why the APR figure above looks so large. Borrow only what you need, not the maximum a lender offers. Every extra dollar you borrow increases the fee you pay and the amount you have to repay in one lump sum.
Before accepting any loan, review all fees, the exact repayment date, and any late-payment rules in the lender’s agreement. And before you borrow at all, consider the alternatives — overdraft protection, a credit card cash advance, a credit union loan, an employer pay advance, or a payment plan directly with the biller are often cheaper options. A few minutes spent on these can save you real money and avoid the pressure of a short repayment window.
Common questions about the calculator
How accurate is the payday loan calculator?
The calculator uses each province’s maximum permitted fee per $100 borrowed to give you a realistic estimate of the total cost. The numbers you see are close to what a licensed lender charging the maximum rate would quote. However, actual lender fees, repayment dates, and any additional charges can vary — always confirm the exact figures in the loan agreement before signing.
Are the fees the same in every province?
No. Each Canadian province sets its own maximum fee per $100 borrowed. Ontario, Alberta, British Columbia, New Brunswick, and Nova Scotia cap fees at $15. Manitoba and Saskatchewan allow up to $17. Prince Edward Island allows up to $25, and Newfoundland and Labrador allows $14. Quebec does not follow the standard payday loan framework and caps consumer loan interest at 35% per year.
Does the calculator guarantee approval?
No. The calculator is purely an estimation tool — it does not submit an application or guarantee approval. Loan approval, the amount you qualify for, and the actual terms offered are always determined by the lender based on factors like income, province, and banking history. No legitimate Canadian lender can guarantee approval in advance.
Can I use the calculator for bad credit loans?
Yes. The calculator estimates cost based on loan amount, province, and term — it doesn’t take credit score into account. Many Canadian short-term lenders place less weight on credit history than traditional banks, but credit checks and approval criteria still vary by lender. The estimate you see is useful regardless of credit situation, but always compare actual terms from at least two or three licensed lenders before applying.
What is included in the total repayment amount?
The total repayment amount shown by the calculator is the loan principal plus the provincial-maximum fee for that amount. It does not include late fees, NSF charges from your bank, or any additional charges that may apply if the loan is not repaid on time. Your loan agreement will list every potential charge — read it carefully before signing.
Should I compare more than one lender?
Yes — comparing at least two or three licensed lenders is strongly recommended. While provincial caps set a ceiling, lenders can and sometimes do charge less. Different lenders also offer different funding speeds, repayment flexibility, and customer support. A few minutes of comparison can save you real money and help you spot unusual terms or unsafe operators.