Understanding payday loan fees, repayment timelines, and provincial regulations helps you make informed, confident borrowing decisions. RedPayday is committed to transparency and responsible lending.
Payday loan pricing in Canada is regulated by each province. RedPayday partners only with licensed lenders who follow these rules. Before accepting any loan, you will always receive a complete cost breakdown, including total borrowing cost, repayment schedule, and all applicable fees.
There are **no hidden charges**, and you are never obligated to accept a loan offer.
Below are the regulated maximum costs payday lenders may charge:
| Province | Max Cost per $100 Borrowed | Notes |
|---|---|---|
| British Columbia | $15 | BC is one of the most regulated provinces. |
| Alberta | $15 | Strong borrower protections. |
| Saskatchewan | $17 | Higher cap than BC/AB. |
| Manitoba | $17 | Cost includes set lender fees. |
| Ontario | $15 | One of Canada’s lowest-rate jurisdictions. |
| Quebec | Cap: 35% APR | Payday loans effectively restricted. |
| New Brunswick | $15 | Aligned with national averages. |
| Nova Scotia | $17 | Lenders must be provincially licensed. |
| PEI | $25 | Higher due to local legislation. |
| Newfoundland & Labrador | N/A | Payday lending not currently regulated. |
Repayments are typically made through a **pre-authorized debit** (PAD) on your next payday. Some lenders allow early repayment with reduced fees.
If you miss a payment, lenders may charge NSF fees. These vary but are always disclosed in your loan agreement.
We encourage borrowers to only take loans they can comfortably repay. For guidance, visit our How to Apply page.