What is the maximum payday loan fee in Ontario?

Ontario allows a maximum fee of $15 per $100 borrowed, regulated by the Financial Services Regulatory Authority of Ontario (FSRA) under the Payday Loans Act, 2008.

Who regulates payday lenders in Ontario?

The Financial Services Regulatory Authority of Ontario (FSRA) licenses and regulates all payday lenders in Ontario.

Can I get two payday loans at the same time in Ontario?

No. Ontario law prohibits a lender from issuing a new payday loan until the previous loan is fully repaid, and no rollovers are allowed.

🏙️ Ontario (ON)

PAYDAY LOANS IN ONTARIO

Regulated, transparent, and fast. Find licensed payday lenders operating legally in Ontario — with provincial rules designed to protect you.

$15

Max fee per $100

$1,500

Maximum loan

62 days

Max loan term

15M

Population

Apply Now — Free → How It Works

🔒 256-bit SSL · LeadScout Secured

Get Your Loan Offer

No obligation — won't affect your credit score

Amount

Personal

Income

Address

Submit

Step 1 of 5

How much do you need?

Or enter exact amount ($100–$35,000)

What is this loan for?

Credit Score

Step 2 of 5

Tell us about yourself

First Name

Last Name

Email Address

Phone Number

Date of Birth

Province

Step 3 of 5

Employment & income

Income Type

Job Title

Employer Name

Employed Since

Pay Frequency

Next Pay Date

Monthly Income (after tax $)

Unsecured Debt Total ($)

Direct Deposit to Bank?

Current Financial Situation

Step 4 of 5

Your address

Street Address

City

Postal Code

Time at This Address

Do You Own Your Home?

Monthly Rent / Mortgage Payment ($)

Step 5 of 5 — Final Step!

Review & Submit

I'd like to receive loan tips and special offers by email (optional)

By submitting you consent to sharing your information with licensed lenders in our network via the LeadScout platform. We are a matching service, not a lender. Privacy Policy · Terms of Service

Matching you with lenders...

Pinging 50+ licensed Canadian lenders.
This takes just a moment.

✓

Match Found!

Redirecting you to your best loan offer now...

Not redirected? Click here.

⏳

No Instant Match Found

We could not find an immediate lender match right now. This can happen based on your province, income level, or current lender availability.

Please try again with a lower loan amount, or contact us at info@paydayloanorganization.com for assistance.

Provincial Regulations

PAYDAY LOAN RULES IN ONTARIO

Payday lending in Ontario is governed by the FSRA — Financial Services Regulatory Authority of Ontario (Payday Loans Act, 2008). These regulations protect consumers while maintaining access to short-term credit for those who need it.

Ontario is Canada's largest payday loan market by volume. FSRA maintains a public registry of licensed payday lenders and actively enforces compliance. Borrowers in Ontario benefit from strong enforcement powers and a clear pathway for filing complaints against non-compliant lenders.

Key Rules for Borrowers in Ontario

Maximum fee: $15 per $100 borrowed
Maximum loan term: 62 days
All lenders must hold a current FSRA payday lending licence
2-business-day right to cancel with no penalty
No rollovers — each loan must be fully repaid before a new one is issued
New loan cannot be issued until the previous one is fully repaid
Fees cannot exceed the regulated cap under any circumstances
Lenders must post all fees and borrower rights prominently

⚠️ 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 Ontario for free financial guidance.

🏙️

Ontario

Capital: Toronto · Pop: 15M

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	ON Gov't

Cities We Serve

Toronto, Ottawa, Mississauga, Brampton, Hamilton, London, Markham, Vaughan, Kitchener, Windsor and all other communities across Ontario.

Get Started

HOW TO GET A LOAN IN ONTARIO

📝

Apply Online

Complete our 2-minute form from anywhere in Ontario. No branch visit, no paperwork required.

⚡

Get Matched

Our platform instantly connects your application to licensed Ontario lenders following provincial rules.

📋

Review Offers

All fees and terms are disclosed upfront per Ontario's consumer disclosure requirements before you sign.

💸

Get Funded

Accept and receive funds via Interac e-Transfer — often the same business day your application is approved.