Payday and high-interest loan calculator for Canada
Quick summary
Enter what you want to borrow and see the total you repay. A $1,000 payday loan for 14 days at the $14 per $100 limit costs $1,140. Want the rules for your province? Read the payday loans guide.
Checked November 3, 2026. Main source: FCAC: Payday loans (modified Oct. 14, 2025). See all 1 source.
Calculator
You borrow $1,000 and repay $1,140.00.
The fee is $140.00. Over a year, that fee works out to about 365%.
Nothing you type here is saved or sent. These are estimates. Your lender's contract is the final word, and it may add fees or insurance.
How the numbers work
- Payday loan: the fee is the amount divided by 100, times the fee per $100. The FCAC says the limit is $14 per $100 in the nine provinces with payday loan rules.
- Yearly rate: the fee divided by the amount, scaled up to 365 days. FCAC's own example works out to about 365% for $14 per $100 over 14 days.
- Installment loan: equal monthly payments, with interest charged each month at the yearly rate divided by 12.
Source: FCAC: Payday loans (modified Oct. 14, 2025), read November 3, 2026.
Limits to know
- A payday loan is up to $1,500 and up to 62 days, per the FCAC.
- The legal limit on interest is 35% a year (the criminal interest rate), per the FCAC. Regulated payday loans follow the provincial limit instead.
- Rules differ by province. See the table in the payday loans guide.
Questions people ask
How much does a $1,000 payday loan cost?
At the $14 per $100 limit, the fee is $140 for 14 days, so you repay $1,140. That fee works out to about 365% a year. The most you can borrow is $1,500. Two provincial pages show a higher fee, so check the province table.
What is the maximum payday loan in Canada?
$1,500, with up to 62 days to repay, per the FCAC. Each province can add its own limits, like a share of your pay.
What is the most a payday lender can charge?
In the nine provinces with payday loan rules, the FCAC says it is $14 per $100 borrowed. In Quebec and the territories, it says the limit is the 35% criminal interest rate. Two provincial pages show $17, so confirm with your own province.
Can a payday lender keep renewing my loan?
In Ontario and British Columbia, rollovers are not allowed. Other provinces have their own rules, shown in the table. In every case, check your contract.
Does your province have its own rules?
Who licenses collectors, how much of your pay can be taken and which agencies can help are set by each province. Pick yours to see where to look. We remember your choice on this device only.