Payday loans in Yukon, the Northwest Territories and Nunavut: what the law allows
Many sites suggest you can get a standard payday loan in the North at $14 per $100. Under the federal rules in force since January 1, 2025, that isn’t how it works. Here is what applies in the territories, and the borrowing options that remain.
Reviewed November 2026 by the Jessica’s House editorial team against federal and provincial lending rules. About 4 minutes to read.
Short answer
The $14 per $100 payday loan cap only applies in provinces that have their own payday loan laws and a federal designation. Yukon, the Northwest Territories and Nunavut haven’t sought that designation, so payday-style loans there are subject to the Criminal Code’s general limit of 35% APR. In practice, standard payday loans aren’t offered to residents of the territories, but personal loans at or below 35% APR can be.
| Payday loans at $14 per $100 | Not available; the payday exemption doesn’t apply in the territories |
|---|---|
| Rate limit | 35% APR under the Criminal Code, including fees |
| Territorial payday licensing | None as of our last review |
| What you can apply for | Personal and instalment loans at or below 35% APR |
Why the territories are different
The Criminal Code lets payday lenders charge more than the general 35% limit only in provinces the federal government has designated, because they have their own payday loan laws. Nine provinces are designated. Quebec and the three territories aren’t. So a lender offering a Whitehorse, Yellowknife or Iqaluit resident a two-week loan at payday prices would be far above the legal rate.
If you see one advertised, treat it as a warning sign, whatever the website says about licensing elsewhere.
Options that are open to you in the North
- Your bank or credit union: overdraft protection or a small line of credit, usually far cheaper than any short-term loan.
- Personal loans at or below 35% APR, repaid monthly. Jessica’s House can match territorial residents with lenders who offer them.
- Territorial income assistance for urgent basic needs, if you qualify.
- Employer advances, which are common with mining, government and seasonal employers.
What 35% APR means in dollars
A $1,000 personal loan over 12 months at 35% APR costs about $199 in interest, about $100 a month.
Two weeks of the same $1,000 at 35% APR would cost about $13, which is why lenders don’t offer two-week loans at that rate.
Questions people ask
Can I get a payday loan in Yukon?
Not a standard payday loan priced at $14 per $100. Yukon has no payday loan regime with federal designation, so the Criminal Code’s 35% APR limit applies. Personal loans at or below that rate may be available.
Do the same rules apply in the Northwest Territories and Nunavut?
Yes. Neither territory has a designated payday loan regime, so the 35% APR limit applies there too.
Can I use a lender from Alberta or BC if I live in the North?
A lender has to follow the law where you live. A provincial payday licence doesn’t let it charge payday prices to a territorial resident.
Apply for a personal loan in the territories
Monthly payments at or below 35% APR. Free to apply, with no effect on your credit score.