Payday Loan Calculator
See what a payday loan will cost before you borrow. Choose your province, amount and term to get your fee and total repayment.
Estimates only. FlexiNest is not a lender, and your lender sets the final terms.
Canadian lenders
- Instant estimate, no sign-up needed
- Nothing you enter is sent or saved
- Rules for all 10 provinces built in
Example
Borrow $500 for 14 days
Fee$70
Total to repay$570
At the $14 per $100 legal maximum.
Estimate your payday loan
Based on Canada’s legal cost limits.
Minimum age in Ontario: 18.
$14 is the legal maximum. Enter your lender’s fee if it’s lower.
In Ontario, a payday loan can’t be more than 50% of your net pay.
Total to repay
$570.00
- You borrow
- $500.00
- Borrowing fee
- $70.00
- Due date
- –
- Cost as APR
- 365%
Estimate only. Your lender sets the final cost. Approval is not guaranteed.
$14 max
per $100 borrowed, set by federal law
62 days
the longest a payday loan can run
10 provinces
with their rules built into the calculator
How to use the payday loan calculator
Pick your province.
Set how much you want to borrow.
Choose the number of days until your due date.
See your fee, total repayment and due date.
Already have an offer? Enter your lender’s fee in the “Fee per $100” box to see your exact numbers.
The numbers that matter
$1,500
the most you can borrow with a payday loan
$14
the highest fee per $100 a lender can charge
62 days
the longest term allowed
50%
of your net pay, the Ontario borrowing limit
$0
upfront fees to use FlexiNest
What you’d repay at the maximum fee
Borrow $300, you repay
$342
Borrow $500, you repay
$570
Borrow $1,000, you repay
$1,140
The fee is a flat amount per $100, so it’s the same whether you repay in 7 days or 62.
Payday loan rules by province
The cost cap is the same across Canada. Age limits and other rules depend on where you live.
| Province | Max cost per $100 | Minimum age | Payday loans offered |
|---|---|---|---|
| Alberta | $14 | 18 | Yes |
| British Columbia | $14 | 19 | Yes |
| Manitoba | $14 | 18 | Yes |
| New Brunswick | $14 | 19 | Yes |
| Newfoundland and Labrador | $14 | 19 | Yes |
| Nova Scotia | $14 | 19 | Yes |
| Ontario | $14 | 18 | Yes, up to 50% of your net pay |
| Prince Edward Island | $14 | 18 | Yes |
| Quebec | – | 18 | No |
| Saskatchewan | $14 | 18 | Yes |
What the calculator doesn’t include
Your real cost can go up if a payment doesn’t go through on time.
Returned payment fees
If a payment bounces, your lender and your bank may both charge a fee.
Late charges
Missing your due date can add interest on the overdue amount.
Borrowing again
A new loan right after the last one means paying the fee again.
Can’t make a payment? Call your lender early and read how to postpone a payday loan.
Before you borrow
A few quick checks can save you money:
- Only borrow what you can repay on your next payday
- Look at the total cost, not just the fee
- Make sure the lender is licensed in your province
- Compare lower-cost options first, like a credit union loan or a pay advance
Short-term loans cost more than most bank loans. Learn more in our guide to payday loans in Canada.
Any questions?
Here are answers to the ones we hear most.
How accurate is this payday loan calculator?
It uses the legal maximum fee and the numbers you enter. Your lender may charge less, and your loan agreement shows the exact cost before you sign.
Why is the APR so high?
APR shows the cost as a yearly rate. A $14 fee on a $100 loan for 14 days works out to about 365% APR because the term is so short. The dollar amount is the clearer number to compare.
Does a longer term cost more?
Usually not. Payday lenders charge a flat fee per $100 borrowed, so the fee is the same whether you repay in 7 days or 62. Missing the due date can add extra charges.
How much can I borrow?
Up to $1,500. In Ontario, the loan can’t be more than 50% of your net pay. Lenders also look at your income before they approve an amount.
What isn’t included in the estimate?
Returned payment (NSF) fees, late charges and any fees from your own bank. Read how to repay to avoid them.
Are payday loans available in Quebec?
No. Quebec’s interest rate limits mean payday loans aren’t offered there.
Is FlexiNest a lender?
No. FlexiNest doesn’t issue loans. We connect you with third-party lenders, who set approval, rates and terms.
