Work out what a loan could cost you
Before you commit to borrowing, it helps to see the numbers written down. Enter the amount, the repayment period and the rate you have been quoted, and the calculator will show what the repayments would look like.
Ontario payday loan estimate
Payday Loan Calculator
See the most a payday loan can cost in Ontario before you apply.
Total repayment
$570.00
- Cost of borrowing (up to)
- $70.00
- Max. cost per $100
- $14.00
- Estimated due date
- Wed, Nov 11, 2026
- Equivalent annual rate
- 365%
Estimate only, based on Ontario’s maximum permitted payday-loan cost of $14 per $100 borrowed (loans up to $1,500, terms up to 62 days). Actual cost, terms and repayment depend on the lender and your accepted offer. Approval is not guaranteed.
How to read these numbers
A calculator is only useful if you know what to look at. These three things matter more than the headline monthly figure.
The monthly figure is not the whole story
Two loans with the same monthly repayment can cost very different amounts overall. Always check the total repaid, not just what leaves your account each month.
A longer term usually costs more
Spreading repayments over more months lowers each payment, but it normally increases the total interest you pay across the life of the loan.
Fees are not included here
This illustration covers interest only. Ask the lender for the full cost, including any fees, charges or optional extras.
What the calculator cannot tell you
This tool does arithmetic on the numbers you give it. It has no knowledge of your circumstances and it is not a decision or an offer.
It does not show
- Whether an application would be approved
- What rate you would actually be offered
- Any fees, charges or optional extras
- What a missed payment would add to the total
Happy with the numbers?
If the repayments look manageable, the next step is a short online enquiry. Nothing is committed until you have seen the full terms.