What is the maximum APR allowed in Canada?

As of 2025, the Criminal Rate of Interest in Canada caps all loans at a maximum APR of 35%. Any lender charging more than this rate is operating illegally.

What rights do I have as a borrower in Canada?

Canadian borrowers have the right to clear disclosure of all loan terms, a cooling-off period for certain loans, protection from harassment by collectors, and the ability to file complaints with provincial regulators.

Where can I file a complaint about a lender?

You can file complaints with the Financial Consumer Agency of Canada (FCAC) or your provincial consumer protection agency. Contact information varies by province.

Your Rights as a Borrower

Understanding consumer protections and the 35% APR cap in Canada

Key Consumer Protections

Clear Disclosure

Lenders must clearly disclose all loan terms, including APR, fees, and total cost of borrowing before you sign.

35% APR Maximum

As of 2025, the Criminal Rate of Interest caps all loans at 35% APR. Rates above this are illegal in Canada.

Fair Collection Practices

Debt collectors cannot harass you, use threatening language, or contact you at unreasonable hours.

Cooling-Off Period

Many provinces provide a cooling-off period during which you can cancel a loan without penalty.

Understanding the 35% APR Cap

Effective 2025, Canadian federal law has been updated to protect borrowers

The Criminal Rate of Interest under Section 347 of the Criminal Code of Canada limits the maximum annual interest rate that can be charged on any loan. As of 2025, this cap has been set at 35% APR (Annual Percentage Rate).

This means that when you add up all costs associated with borrowing—including interest, fees, and any other charges—the effective annual rate cannot exceed 35%.

What This Means for You

All legitimate lenders must charge 35% APR or less
Any lender charging more is operating illegally
You can report predatory lenders to regulators
365 Loans only works with compliant lenders

At 365 Loans Canada, we exclusively partner with lenders who comply with all federal and provincial regulations, including the 35% APR cap. You can compare offers with confidence knowing all rates are within legal limits.

Lender Transparency

Our partner lenders hold valid provincial licenses

Province	License Type	Regulator	Status
British Columbia	BC Payday Loans License	Consumer Protection BC	Verified
Ontario	Ontario Consumer Protection Act Compliance	Consumer Protection Ontario	Verified
Alberta	Consumer Protection License	Service Alberta	Verified
Quebec	AMF Regulated	Office de la protection du consommateur	Verified
Manitoba	Consumer Protection License	Consumer Protection Office	Verified
Saskatchewan	Consumer Protection License	Financial and Consumer Affairs Authority	Verified

All lenders comply with the 2025 Criminal Rate of Interest (35% APR maximum). Federal and provincial regulations are strictly enforced.

File a Complaint

If you believe a lender has violated your rights or charged illegal rates, contact the appropriate regulatory agency below.

Financial Consumer Agency of Canada (FCAC)

Federal regulator overseeing financial institutions and consumer protection

Visit Website1-866-461-3222

Ontario - Consumer Protection Ontario

Regulates payday lenders and consumer protection in Ontario

Visit Website1-800-889-9768

British Columbia - Consumer Protection BC

Enforces consumer protection laws in British Columbia

Visit Website1-888-564-9963

Alberta - Service Alberta

Handles consumer complaints and licensing in Alberta

Visit Website1-877-427-4088

Quebec - Office de la protection du consommateur

Consumer protection agency for Quebec residents

Visit Website1-888-672-2556

Compare Compliant Loan Offers

All lenders in our network comply with Canadian regulations, including the 35% APR cap. Check your rate with no impact to your credit score.

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