Estimate Your Payday Loan Repayment
Use the calculator below to estimate the total repayment on a payday loan, based on your province and the amount you want to borrow. The estimate is for educational purposes only — actual borrowing costs depend on the participating lender and the rules in your province.
Payday loan repayment calculator
Your details
Choose your province above to estimate the maximum borrowing cost and total repayment.
Important — this is an estimate only. It shows the maximum a payday loan may cost, not a quote. Actual loan offers, borrowing costs, repayment terms and eligibility depend on the participating lender and applicable provincial regulations. Payday Wings does not determine loan pricing.
How the Calculator Works
The calculator applies the maximum cost of borrowing permitted in your province to the amount you enter. The formula is simple:
Because it uses the provincial maximum, the real cost from a lender may be lower — but not higher. The estimate is meant to help you understand your potential repayment obligation before you submit an application, so there are no surprises later. It is not a loan offer.
Estimated Cost by Province
What the maximum cost of borrowing works out to on a few common loan amounts. These are estimated ceilings; a lender may charge less.
| Province | Max cost / $100 | Total on $300 | Total on $500 | Total on $1,000 |
|---|---|---|---|---|
| Enable JavaScript to see the provincial comparison. | ||||
A federal cap sets the maximum cost of borrowing for payday loans across Canada, and provinces may set the same limit or a lower one. Cost limits are reviewed over time — always confirm the figure in your lender’s written agreement.
Borrow Only What You Need
A calculator makes borrowing look tidy, but the cheapest payday loan is the one you don’t take. If you do borrow, borrow the smallest amount that solves the problem — not the maximum the slider allows.
Before you borrow
- Borrow the smallest amount necessary
- Review the repayment date against your pay cycle
- Understand the total repayment amount, not just what you receive
- Compare alternative borrowing options first
- Avoid using payday loans as a long-term solution
Frequently Asked Questions
What the estimate does and doesn’t tell you.
It gives a reasonable estimate of the maximum a payday loan may cost, based on the cap that applies in your province. A lender may charge less, and your actual offer may differ. Treat it as a ballpark to plan with, not a quote.
No. The figure shown is an estimate for educational purposes. Your real loan amount, cost, repayment date and total are set by the lender and disclosed in your written agreement — that agreement is the only figure that binds you.
Payday lending is regulated province by province. A federal cap now sets the maximum cost of borrowing nationally, and each province can set the same limit or a lower one — so the maximum you may be charged depends on where you live. More on provincial rules.
No. Payday Wings is an independent loan matching platform, not a lender. We do not set pricing, approve loans or collect payments. Borrowing costs are set by the lender within provincial limits. More about how we operate.
Yes. The calculator uses the maximum permitted cost of borrowing. A lender is free to charge less than that ceiling, so your actual offer may come in below the estimate — but it cannot legally come in above the provincial maximum.
Payday loans in Canada are capped at $1,500, which is why the slider stops there. What a lender actually offers depends on your income and circumstances and may be lower. More on eligibility.
Under federal rules a payday loan must be repaid within a maximum of 62 days. The exact repayment date is set by the lender and is usually tied to your pay cycle — the calculator shows the maximum, not a promise of that full period.
Yes. They operate under a specific exemption in the federal Criminal Code, which requires each province to license lenders and set cost limits. A federal cap on the cost of borrowing also applies across the country.
The calculator covers the provinces where payday lending operates under a provincial framework. Select yours to see the estimated maximum cost that applies there. Rules and caps are reviewed over time, so always confirm against your lender’s agreement.
Participating licensed lenders may review your application and decide whether to make an offer. If you receive one and accept it, the lender funds the loan. See the full process.
Ready to Explore Loan Options?
Estimate your borrowing cost today and, if you decide a payday loan is right for your situation, complete one simple application to explore offers from participating licensed lenders.
This calculator provides estimated borrowing costs based on provincial maximum fee limits and is intended for educational purposes only. Actual loan offers, borrowing costs, repayment terms, eligibility, and funding timelines are determined solely by participating licensed lenders. Payday Wings is an independent loan matching platform and is not a lender. See our Terms and Conditions and Privacy Policy.