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Payday loans in Alberta: rules, costs and licensed lenders

In Alberta, a payday loan can be no more than $1,500, must run at least 42 days and no longer than 62, and can't cost more than $14 for every $100 you borrow. Every lender, online or with a storefront, needs a payday loan licence from the province.

Last reviewed November 7, 2026

Max cost
$14 per $100
Max loan
$1,500
Max term
62 days
Regulator
Service Alberta and Red Tape Reduction

Payday loan rules are set by each province and can change. Figures on this page were last checked on November 7, 2026 against Service Alberta and Red Tape Reduction. Always confirm with the lender’s contract and your regulator.

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$500
Most a payday loan can cost
$70
You’d pay back
$570

Based on the $14 per $100 legal maximum. Lenders can charge less, never more.

About 3 minutes. Koke is not a lender; we may be paid when you apply. No SIN or banking login asked.

How do payday loans work in Alberta?

Alberta rewrote its payday lending rules in 2016 and tightened them again when the federal $14 limit arrived in January 2025. The result is one of the more borrower-friendly systems in the country. You get at least 42 days to repay, and the lender has to let you pay back in instalments that line up with your paydays instead of one lump sum.

A $500 loan at the maximum rate costs $70 in total, whether you repay over six weeks or nine. The cost is set per $100, not per day, so stretching the loan out doesn’t add to the fee.

Who regulates payday lenders in Alberta?

Service Alberta and Red Tape Reduction licenses payday lenders and investigates complaints. If a lender won’t show you its Alberta licence number, or the number doesn’t appear on the province’s business licence lookup, don’t sign anything.

What should I watch for in Alberta?

  • A lender can’t give you a second payday loan to pay off one it already gave you.
  • All fees count toward the $14 cap. “Processing” or “insurance” charges on top of it aren’t allowed.
  • If a payment bounces, ask the lender in writing what it will charge before you agree to anything new.

The Consumer Contact Centre takes questions and complaints at 780-427-4088 in Edmonton, or toll-free at 1-877-427-4088.

What are the payday loan rules?

Payday loan rules in Alberta
Maximum cost of borrowing$14 per $100 borrowed, all fees included
Maximum loan$1,500
Maximum term62 days
Cancellation (cooling-off)2 business days
RegulatorService Alberta and Red Tape Reduction

Source: Service Alberta and Red Tape Reduction. Last reviewed November 7, 2026. Check a lender’s licence.

Which lenders are licensed here?

Cash Money

5.0/5

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Next business day
Apply
Online and in-store

Licence verified AB, BC, MB, NB, NL, NS, ON, SK

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cashco Financial

5.0/5

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online and in-store

Licence verified AB, BC, SK

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

iCash

5.0/5

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online

Licence verified AB, BC, MB, NB, NS, ON, PE

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online

Licensed per lender AB, BC, MB, NB, NL, NS, ON, SK Confirm with regulator

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online and in-store

Licensed per lender AB, BC, MB, NS, ON, SK Confirm with regulator

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online

Licensed per lender AB, BC, ON Confirm with regulator

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online and in-store

Licensed per lender AB, BC, NS, ON Confirm with regulator

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online and in-store

Licensed per lender AB, BC, MB, NB, NL, NS, ON, SK Confirm with regulator

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Same day
Apply
Online

Licensed per lender AB, BC, ON Confirm with regulator

Apply now Read review

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Payday loans by city

What will it cost?

Pre-filled with your province’s legal maximum. Lower it if your lender charges less.

Fee
—
Total to repay
—
Due date
—
Annual rate (APR)
—

Same amount on a credit card cash advance (assuming 22.99% APR plus a $5 fee): —

Payday loans are one of the most expensive ways to borrow. These figures are estimates. Your lender’s contract shows the real cost and must follow your province’s rules.

Results are estimates for illustration only. Your actual cost, due date and terms are in your loan agreement.

Compare licensed lenders in Alberta See cheaper options first

Common questions

Can I repay an Alberta payday loan early?

Yes. You can pay off the whole balance any time. Because the fee is a flat amount per $100 borrowed, ask the lender before signing whether any part of it is refunded if you repay early.

Why does Alberta give me at least 42 days?

Alberta's rules require payday loans to span at least two pay periods so the repayment isn't taken from a single paycheque. You can repay sooner if you want to.

How do I check an Alberta lender's licence?

Ask for the lender's Alberta payday loan licence number, then search it on the province's business licence lookup. The business name and website should match what you're dealing with.

Ready to apply from Alberta?

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Sources

Update log

  • — Page published; rules checked against the provincial regulator.