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Payday Loans in Prince Edward Island

Compare FCAC-regulated payday lenders in Prince Edward Island. Find fast approval loans with transparent costs and provincial protection.

Population
164,318
Maximum Loan
$1500
Maximum APR
391%

Prince Edward Island Payday Loan Regulations

PEI caps payday loans at $15 per $100 (391% APR). Maximum $1,500 per loan. Borrowers have 2 days to cancel without penalty.

Regulator: Consumer Affairs PEI
Cooling-Off Period: 2 days
Rollover Allowed: No
Maximum Term: 62 days
Visit Consumer Affairs PEI →

How to Get a Payday Loan in Prince Edward Island

  1. 1

    Compare Lenders

    Review our list of FCAC-regulated lenders operating in Prince Edward Island. Check APRs, fees, and approval times.

  2. 2

    Apply Online

    Complete the application form with your personal details, employment, and banking information. Most applications take 5-10 minutes.

  3. 3

    Get Approved

    Lenders review your application and provide a decision within 15-60 minutes during business hours.

  4. 4

    Receive Funds

    Once approved, funds are typically sent via Interac e-Transfer same-day or direct deposit within 1 business day.

Payday Loans by City in Prince Edward Island

Find licensed payday lenders in major cities across Prince Edward Island. Click on your city to see local options and compare costs.

Charlottetown
Pop: 38,809
Summerside
Pop: 16,001
Stratford
Pop: 10,336
Cornwall
Pop: 5,348
Montague
Pop: 1,973
Kensington
Pop: 1,619
Souris
Pop: 1,173
Alberton
Pop: 1,135
Tignish
Pop: 787
Borden-Carleton
Pop: 756
Georgetown
Pop: 693

Frequently Asked Questions

What is the maximum payday loan amount in Prince Edward Island?
In Prince Edward Island, the maximum payday loan amount is $1500 CAD. This limit is set by Consumer Affairs PEI to protect borrowers from over-indebtedness.
What is the APR for payday loans in Prince Edward Island?
Prince Edward Island payday loans have a maximum APR of 391%. PEI caps payday loans at $15 per $100 (391% APR). Maximum $1,500 per loan. Borrowers have 2 days to cancel without penalty.
How long is the cooling-off period in Prince Edward Island?
Prince Edward Island provides a 2-day cooling-off period, allowing you to cancel your payday loan without penalty within 2 days of signing.
Who regulates payday loans in Prince Edward Island?
Payday loans in Prince Edward Island are regulated by Consumer Affairs PEI. You can verify licensed lenders at https://www.princeedwardisland.ca/
Can I get a payday loan online in Prince Edward Island?
Yes, many FCAC-regulated lenders offer online payday loans to Prince Edward Island residents. Applications are processed 100% online with same-day approval and Interac e-Transfer disbursement available.
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