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Installment loans in Manitoba
Borrow $300 to $3,000 and repay it in equal amounts on your paydays, over three to four months. Applications with bad credit can still be approved.
The Loans514 team reviewed this page on November 5, 2026. We took the rules from official federal and provincial sources, listed at the bottom. All dollar amounts are examples, for illustration only.
In short
A low credit score doesn't stop you from applying in Manitoba. Lenders in our network typically offer $300 to $3,000 over 90 to 120 days at 22% to 32% APR. Manitoba's high-cost credit rules reach further than most: any loan of $5,000 or less is covered if the rate is above 32% or if a fee is charged on top of interest. Those lenders need a licence from the Consumer Protection Office, and you have 48 hours to change your mind. A payday loan can cost $14 per $100, so $500 becomes $570 due at once.
How applying works in Manitoba
- Send one application. Use a phone or computer, anywhere in Manitoba. It takes around five minutes.
- A lender gets in touch. Your application goes to lenders in our network. If one can help, it contacts you and asks you to connect your bank through Instant Banking Verification. That's a read-only view of your recent transactions, so you don't send documents.
- Read the offer. You see the rate, each fee and your total repayment before you agree to anything.
- Get paid. The lender deposits the money after you sign, often on the same day.
Loans514 doesn't lend money. Your rate, fees and payment dates are set by the lender that approves you.
High-cost credit in Manitoba
Manitoba's high-cost credit rules cover two kinds of loans. The first is any loan with an annual interest rate above 32%. The second is a loan of $5,000 or less, for two years or less, that isn't secured by your property. Its interest is 32% or less, but at least one fee is added on top, such as a fee owed to the lender or to a third party.
Some lenders in our network charge membership fees. That means the loan you're offered could count as high-cost credit in Manitoba. If it does, the lender needs a licence from the Consumer Protection Office, and you get these protections:
- Before you sign, the lender has to give you a disclosure document. It shows the fees, the interest rate, the APR and the total cost.
- You can cancel within 48 hours. Sundays and holidays don't count.
- There's no fee for paying the loan off early.
- The lender can't hold back any part of the loan amount.
Payday loans in Manitoba
- A payday loan is a loan of up to $1,500 for up to 62 days. Its cost can't go above $14 per $100 borrowed.
- One payday loan can't be more than 30% of your net pay.
- You can cancel within 48 hours, not counting Sundays and holidays.
- Say you replace, extend or renew a loan, or take out a new one within seven days of paying off another. The cost is then limited to 5% of the amount borrowed.
- Only one payday loan at a time is allowed. A lender can't take security from you, or have you sign something that lets it collect from your employer.
- Every place that offers payday loans to people in Manitoba needs a licence. Online lenders are included.
Costs in Manitoba
These are typical terms from lenders in our network. We last checked them in November 2026. Your own offer may be different.
- Amount
- $300 to $3,000
- Repaid over
- 90 to 120 days
- Annual rate (APR)
- 22% to 32%Set by the risk of your application
- Membership fees
- May applyPart of the total in your lender's offer
A $500 loan in Manitoba: payday or installment
| Manitoba payday loan | Installment loan, 32% APR | |
|---|---|---|
| Repayment | A single payment on your next payday | 7 payments, one every 2 weeks, over 98 days |
| Payment amount | $570.00 | About $74.98 |
| Borrowing cost | $70.00 | About $24.86 |
| Total you pay back | $570.00 | About $524.86 |
For illustration only. The payday loan is at the $14 per $100 cap. The installment loan is at 32% APR, the high end of the typical range, and leaves out any membership fees.
For lenders in Canada, the Criminal Code caps the annual percentage rate at 35%. Fees and other costs of getting the loan count toward it. The cap has applied since January 1, 2025. Try the calculator with your own amount.
Who can apply
- Age 18 or older, and a Canadian citizen
- A full-time job, or steady income from self-employment
- An online bank account that can be verified
- Not in a bankruptcy or consumer proposal
Your income and recent banking matter most to lenders, so a low score on its own won't rule you out. Apply from Winnipeg, Brandon, Steinbach, Thompson, Portage la Prairie and Winkler, or from anywhere else in Manitoba. An application doesn't commit you to anything. You agree to a loan only when you sign a lender's contract.
Check the lender
Manitoba's Consumer Protection Office licenses payday lenders and high-cost credit grantors. To check a lender's licence or ask about your rights, call 204-945-3800 or 1-800-782-0067, or email consumers@gov.mb.ca. You can also file a complaint online with the office.
Free debt help
Borrowing to keep up with other debts? A non-profit credit counsellor can help you make a budget, and may be able to set up lower payments with your creditors. See ways out of a loan cycle.
- Community Financial Counselling Services offers credit counselling, help with budgeting and financial reviews in Manitoba. Call 1-888-573-2383 or visit its website.
- The Credit Counselling Society is a non-profit with an office in Winnipeg. You don't pay for its counselling. A fee applies only if you join its debt management program.
- You'll find more accredited non-profit counsellors through Credit Counselling Canada.
Before you borrow, look at cheaper options than a payday loan.
Sources
- Manitoba, High-Cost Credit Products Regulation, M.R. 7/2016: what counts as high-cost credit.
- Manitoba Consumer Protection Office, High-cost credit FAQ: licences, disclosure and your 48 hours to cancel.
- Manitoba, The Consumer Protection Act: high-cost lenders can't charge prepayment fees.
- Manitoba, Payday Loans Regulation, M.R. 99/2007: the $14 per $100 cap, replacement loans and the 30% of net pay cap.
- Manitoba Consumer Protection Office, Payday loans: cancelling, security and licences.
- Manitoba Finance, Budgeting: where Community Financial Counselling Services is listed.
- Financial Consumer Agency of Canada, Payday loans: cost limits on payday loans in each province.
- Criminal Code, section 347: the 35% cap on the annual percentage rate.
- Credit Counselling Canada: a list of accredited non-profit credit counsellors.
- Typical terms in our network, as of November 2026. Payments are equal installments. Interest for each period = APR × days in the period ÷ 365.
This page is general information, not financial or legal advice. Each lender sets its own terms, and provincial rules can change. Check your contract and the sources listed here.
Ready to apply in Manitoba?
Fill in one application and we send it to lenders in our network. Nothing is agreed until you sign a lender's contract.