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Province · AB

Payday loans in Alberta: online lenders, costs and the instalment rule

Payday loans in Alberta are limited to $1,500 and cost at most $14 per $100 borrowed. Alberta is the only province where the loan must be repaid in instalments over at least 42 days, not in one lump sum. Lenders need a licence from Service Alberta, and you have two business days to cancel.

Last reviewed November 14, 2026 by the Public Cash Services editorial team

What are the payday-loan rules in Alberta?

Alberta payday-loan rules at a glance
Maximum cost of borrowing	$14 per $100 borrowed, all fees included
Maximum loan amount	$1,500
Income-based limit	No fixed percentage of pay in the regulation; the lender must still assess what you can repay.
Loan term	42 to 62 days, repaid in instalments rather than one lump sum.
Right to cancel	2 business days
Rollovers	Not allowed. A lender cannot extend or renew a payday loan for an extra fee, or issue a new loan to pay off the old one.
Dishonoured payment	A one-time fee (commonly up to $20) if a cheque or pre-authorized debit is dishonoured.
Licence required	Yes — storefront and online lenders
Regulator	Service Alberta and Red Tape Reduction · 1-877-427-4088
Legislation	Consumer Protection Act and Payday Loans Regulation (Alberta)

Sources: Service Alberta and Red Tape Reduction; Financial Consumer Agency of Canada; Criminal Interest Rate Regulations. Last reviewed November 14, 2026.

Check a lender’s licence with the regulator (opens in a new tab)

What makes Alberta different?

Instalments. Everywhere else in Canada a payday loan is normally repaid in one payment. In Alberta the loan runs for 42 to 62 days and is split across your paydays, so no single payment takes the whole amount. If you are paid every two weeks, expect at least three instalments.

Who needs a licence?

Any business that offers, arranges or provides a payday loan to someone in Alberta — from a storefront or over the internet — must hold a payday loan business licence. The province publishes an annual Payday Lending Report and operates a licensed-business search.

What can a lender not do in Alberta?

Charge more than $14 per $100, all fees included.
Roll the loan over, or lend again while a loan is outstanding.
Contact you outside permitted hours, or contact your employer, family or neighbours about the debt.
Ask for a wage assignment.

Which licensed lenders serve Alberta?

Cashco Financial

Licence numbers published

Cashco Financial is an Edmonton-based lender with branches across western Canada, offering payday loans and a longer-term Flex Loan.

Cost per $100: $14
Up to: $1,500
Funding: Same-day decisions in branch (reported)
Serves: AB, BC, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Cashco Financial.

easyfinancial

Installment loan · 35% APR cap applies

easyfinancial, part of goeasy, offers instalment loans from $500 to $20,000 unsecured through about 400 branches and online in every province.

Rate: 29.99% to 34.99%
Up to: $20,000
Funding: Decision reported within about 30 minutes
Serves: AB, BC, MB, NB, NL, NS, ON, PE, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to easyfinancial.

Fairstone

Installment loan · 35% APR cap applies

Fairstone is a national instalment lender with more than 250 branches, offering unsecured loans up to $25,000 and larger secured loans for homeowners.

Rate: 19.99% to 34.99%
Up to: $25,000
Funding: Typically the next business day
Serves: AB, BC, MB, NB, NL, NS, ON, PE, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Fairstone.

Fig

Installment loan · 35% APR cap applies

Fig is an online personal-loan lender for borrowers with good credit, offering $2,000 to $35,000 at rates from 8.99% APR.

Rate: 8.99% to 29.49%
Up to: $35,000
Funding: Two to three business days (reported)
Serves: AB, BC, MB, NB, NS, ON, PE, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Fig.

Focus Cash Loans

Licence numbers published

Focus Cash Loans (Focus Financial) offers online payday loans in Alberta, British Columbia and Ontario.

Cost per $100: $14
Up to: $1,500
Funding: —
Serves: AB, BC, ON

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Focus Cash Loans.

GoDay

Licence numbers published

GoDay is a Toronto-based online payday lender licensed in eight provinces, from British Columbia to Prince Edward Island.

Cost per $100: $14
Up to: $1,500
Funding: e-Transfer in about an hour once approved (reported)
Serves: AB, BC, MB, NB, NS, ON, PE, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to GoDay.

iCash

Licence numbers published

iCash is an online-only payday lender serving seven provinces, with applications and e-Transfer funding available around the clock.

Cost per $100: $14
Up to: $1,500
Funding: e-Transfer within minutes of approval, 24/7 (reported)
Serves: AB, BC, MB, NB, NS, ON, PE

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to iCash.

LendDirect

Line of credit · 35% APR cap applies

LendDirect offers an online personal line of credit of up to $15,000, with no fixed end date and interest charged only on what you draw.

Rate: Up to 34.99%
Up to: $15,000
Funding: e-Transfer shortly after approval (reported)
Serves: AB, BC, MB, NB, NL, NS, ON, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to LendDirect.

Loan Express

Licence check pending

Loan Express is an online payday lender that has operated since the mid-2000s and serves eight provinces, including Newfoundland and Labrador.

Cost per $100: $14
Up to: $1,500
Funding: e-Transfer or bank transfer shortly after approval (reported)
Serves: AB, BC, MB, NB, NL, NS, ON, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Loan Express.

Money Mart

Licence numbers published

Money Mart is Canada’s largest storefront payday lender, with more than 360 locations plus online applications.

Cost per $100: $14
Up to: $1,500
Funding: Cash in store; online loans often within an hour (reported)
Serves: AB, BC, MB, NS, ON, PE, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Money Mart.

Mr. Payday

Licence numbers published

Mr. Payday is an online payday lender licensed in Alberta, British Columbia and Ontario.

Cost per $100: $14
Up to: $1,500
Funding: —
Serves: AB, BC, ON

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to Mr. Payday.

My Canada Payday

Licence numbers published

My Canada Payday is an online payday lender operated by Westrock Financial Ltd., lending up to $1,500 in six provinces.

Cost per $100: $14
Up to: $1,500
Funding: Interac e-Transfer, often the same day (reported)
Serves: AB, BC, MB, NS, ON, SK

“Get Started Now” opens our personal-loan request, handled by our lending partner — it is not an application to My Canada Payday.

Cities in Alberta

What would a loan cost in Alberta?

Estimated cost Ontario

You borrow: $500.00
Total fee: $70.00
Due date: —
Annual rate for this term: 365%
You repay: $570.00

Payday loans are expensive short-term credit. Results are estimates only. Your lender’s agreement shows the actual cost, dates and fees.

Compare licensed lenders

Alberta payday loan questions

Do Alberta payday loans have to be repaid in one payment?

No. Alberta requires instalments over a term of 42 to 62 days.

How do I check an Alberta payday lender’s licence?

Use the licensed-business search on the Government of Alberta website, or call Service Alberta’s Consumer Contact Centre at 1-877-427-4088.