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Payday loans in Newfoundland and Labrador: rules, costs and licensed lenders

Payday lenders in Newfoundland and Labrador must be licensed by the province, can lend up to $1,500 for no more than 62 days, and can't charge more than $14 per $100 borrowed. Questions and complaints go to the province's consumer affairs office.

Last reviewed November 7, 2026

Max cost
$14 per $100
Max loan
$1,500
Max term
62 days
Regulator
Digital Government and Service NL

Payday loan rules are set by each province and can change. Figures on this page were last checked on November 7, 2026 against Digital Government and Service NL. 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.

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How are payday loans regulated in Newfoundland and Labrador?

The province regulates payday lending under its consumer protection laws and licenses every lender that serves residents, including online companies based elsewhere. The cost limit is $14 per $100, the same as in the other provinces with payday loan rules.

What does that mean in dollars?

A $250 advance to cover a power bill costs $35 at the maximum. A $1,000 loan costs $140. Those numbers look small next to a two-week emergency, but if you need to borrow again the next payday, the costs stack quickly.

What are the alternatives in Newfoundland and Labrador?

Credit unions on the island often offer small personal loans at a fraction of the cost. Newfoundland and Labrador Hydro and Newfoundland Power both have payment arrangement options if an overdue bill is the reason you’re borrowing. And 211 can connect you with local emergency help.

What are the payday loan rules?

Payday loan rules in Newfoundland and Labrador
Maximum cost of borrowing$14 per $100 borrowed, all fees included
Maximum loan$1,500
Maximum term62 days
Dishonoured payment feeUp to $20
RegulatorDigital Government and Service NL

Source: Digital Government and Service NL. Last reviewed November 7, 2026.

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

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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.

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 Newfoundland and Labrador See cheaper options first

Common questions

Do online payday lenders need a licence in Newfoundland and Labrador?

Yes. A lender must be licensed in the province to make payday loans to people who live there.

What does a $500 payday loan cost in Newfoundland and Labrador?

Up to $70 at the $14 per $100 maximum, for a total of $570.

Where can I complain about a lender?

Contact the province's consumer affairs office, which licenses payday lenders. The link is in the sources at the bottom of this page.

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Sources

Update log

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