Payday loans in Newfoundland and Labrador
Newfoundland and Labrador was the last province to regulate payday lending, and the first to set the cap at the $14 that now applies across the country.
Newfoundland and Labrador rules
- Maximum cost
- $14 per $100
- Largest loan
- $1,500
- Loan size limit
- 50% of net pay
- Longest term
- 62 days
- Cancel within
- 2 business days
- Rollovers
- Not allowed
- NSF fee cap
- $20
- Regulator
- Service NL
The short answer
What are the payday loan rules in Newfoundland and Labrador? Lenders must be licensed by the province. The maximum cost is $14 per $100, a loan can't exceed 50% of your net pay or $1,500, you have two business days to cancel at no cost, and rollovers aren't allowed.
Ahead of the curve
For years Newfoundland and Labrador had no payday loan law at all. When the province finally brought payday lending under its consumer protection rules, it set the maximum at $14 per $100, the lowest in Canada at the time. When Ottawa harmonized the cap in 2025, it chose the same number. Borrowers here have been paying the national standard longer than anyone.
Borrowing across long distances
Labrador communities, outport towns and the Northern Peninsula are a long way from a storefront lender. Online lending changed that: a licensed lender can fund you by e-Transfer whether you're in Gander or Goose Bay. The rules don't change with distance. Check the lender is licensed in Newfoundland and Labrador, and never pay anything upfront.
Rotational work
Offshore oil, mining in Labrador and fly-in work in other provinces mean many households run on rotation pay schedules. A delayed first cheque after a new rotation is a common reason to look for a bridge loan. Make sure the due date lines up with an actual deposit, not with when you expect to be paid.
Newfoundland and Labrador city guide
- St. John's: Offshore rotations, winter weather and help in the capital.
Common NL questions
How much does a payday loan cost in Newfoundland?
At most $14 per $100 borrowed. A $400 loan costs no more than $56.
Can I get a payday loan in Labrador?
Yes. Licensed online lenders can serve residents anywhere in the province by e-Transfer.
Are rollovers allowed in Newfoundland and Labrador?
No. A lender can't extend your loan by charging a new fee.
Reviewed October 2026 against provincial consumer protection rules for payday lending.