Payday loans in Manitoba: the 30% limit and the $5 repeat-loan rule
Manitoba keeps payday loans small. The borrowing limit is lower than in most provinces, and a loan taken soon after the last one costs far less. Here’s how to work out your limit, and how the repeat-loan rule protects you.
Reviewed November 2026 by the Jessica’s House editorial team against federal and provincial lending rules. About 4 minutes to read.
Short answer
Payday loans in Manitoba are licensed under The Consumer Protection Act. The cost is capped at $14 per $100, but a single loan can be no more than 30% of your calculated net pay. A new loan taken within seven days of repaying the last, or a renewed loan, can cost no more than $5 per $100. You have 48 hours after the first advance to cancel, not counting Sundays and holidays.
| Cost cap | $14 per $100 (the federal limit, below Manitoba’s former $17) |
|---|---|
| Loan limit | 30% of your calculated net pay |
| Longest term | 62 days |
| Cooling-off period | 48 hours after the first advance, not counting Sundays or holidays |
| Repeat or renewed loans | At most $5 per $100 if taken within 7 days of repaying |
| Security | No property, guarantees or wage assignments |
| Prepayment | Repay early, in full or in part, with no penalty |
Working out your Manitoba limit
Manitoba converts your last month of take-home pay into a two-week equivalent: monthly net × 12 ÷ 26. That gives a standard two-week figure, whatever your pay schedule. You can borrow 30% of it.
A Brandon example
Last month, $3,250 landed in Aisha’s account. $3,250 × 12 ÷ 26 = $1,500 calculated net pay. 30% of that is a limit of $450.
How the $5 repeat-loan rule works
If you take out a new payday loan within seven days of repaying your last one, or your loan is extended, renewed or replaced, the new loan’s price drops to a maximum of $5 per $100. On a $450 loan, that’s $22.50 instead of $63.
The rule exists because the second loan in a row is where costs start to stack. If you notice you’re using it, it’s a good moment to call a credit counsellor. Community Financial Counselling Services in Winnipeg offers free help.
Free help in Manitoba
- 211 Manitoba: an online and phone directory of community and government services.
- Employment and Income Assistance: help with basic and emergency costs if you qualify.
- Community Financial Counselling Services: free, non-profit budgeting and debt counselling.
Questions people ask
What is the payday loan limit in Manitoba?
30% of your calculated net pay: your last month’s net income × 12 ÷ 26. The absolute maximum is $1,500.
How long do I have to cancel a Manitoba payday loan?
You get two days (48 hours) from the first advance, with Sundays and holidays excluded from the count. Put it in writing and repay the advance.
Does repaying early save money in Manitoba?
You can repay early, in full or in part, without a penalty. Ask the lender to confirm in writing how early repayment affects the cost of borrowing.
Apply with Manitoba-licensed lenders
Smaller loans, a 48-hour cancellation window and a lower cost on repeat loans.
Start my Manitoba application Read our borrowing checklist first