What is the maximum payday loan fee in New Brunswick?

New Brunswick allows a maximum fee of $15 per $100 borrowed — tied for the lowest in Canada — regulated by the FCNB under the Cost of Credit Disclosure and Payday Loans Act.

Who regulates payday lenders in New Brunswick?

The Financial and Consumer Services Commission (FCNB) licenses and regulates all payday lenders in New Brunswick.

What is the cancellation right for payday loans in New Brunswick?

Borrowers have a 2-business-day right of rescission after signing. You can cancel with no penalty and receive a full refund of fees paid.

🌊 New Brunswick (NB)

PAYDAY LOANS IN NEW BRUNSWICK

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$15

Max fee per $100

$1,500

Maximum loan

62 days

Max loan term

820K

Population

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Provincial Regulations

PAYDAY LOAN RULES IN NEW BRUNSWICK

Payday lending in New Brunswick is governed by the FCNB — Financial and Consumer Services Commission (Cost of Credit Disclosure and Payday Loans Act). These regulations protect consumers while maintaining access to short-term credit for those who need it.

New Brunswick ties British Columbia and Ontario for the lowest regulated payday loan fee in Canada at $15 per $100. The FCNB oversees licensing with a well-defined complaints process and strong disclosure requirements. The FCNB also maintains a public registry of all licensed payday lenders operating in New Brunswick.

Key Rules for Borrowers in New Brunswick

Maximum fee: $15 per $100 — tied for the lowest rate in Canada
All lenders must be licensed with the Financial and Consumer Services Commission (FCNB)
2-business-day right of rescission after signing — no penalties or fees forfeited
Full cost of credit disclosure required before borrower signs any agreement
No loan rollovers or back-to-back payday lending allowed
Borrowers have the right to receive their loan agreement in advance of signing
Lenders must post their licence prominently at all business locations
Complaints can be filed directly with the FCNB against non-compliant lenders

⚠️ Borrow Responsibly

Payday loans are a short-term financial tool, not a long-term solution. If you find yourself repeatedly relying on payday loans, contact a non-profit credit counsellor in New Brunswick for free financial guidance.

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New Brunswick

Capital: Fredericton · Pop: 820K

Regulatory Summary

Max fee per $100	$15 per $100
Maximum loan amount	$1,500
Maximum loan term	62 days
Cooling-off period	2 business days
Regulator	NB Gov't

Cities We Serve

Moncton, Saint John, Fredericton, Dieppe, Riverview, Bathurst, Miramichi, Edmundston, Campbellton, Sussex and all other communities across New Brunswick.

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