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How much does a payday loan cost in Canada?

In provinces with payday loan laws, a licensed lender can charge at most $14 for every $100 you borrow, including all fees. A $500 loan for two weeks costs $70, so you repay $570. Late or bounced payments can add more.

In provinces with payday loan laws, a licensed lender can charge at most $14 for every $100 you borrow, including all fees. A $500 loan for two weeks costs $70, so you repay $570. Late or bounced payments can add more.

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