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Installment loans in Quebec

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

You can apply from Quebec with bad credit. Loans514 sends your application to lenders in our network, which typically lend $300 to $3,000 over 90 to 120 days at 22% to 32% APR. In Quebec, every money lender needs a permit from the Office de la protection du consommateur (OPC), which can refuse one to a lender charging more than 35%. Loans priced more than 22 points above the Bank of Canada's Bank Rate are high-cost credit: a second permit, an affordability check and 10 days to cancel. You can always repay early without a penalty.

How applying works in Quebec

  1. Send one application. Use a phone or computer, anywhere in Quebec. It takes around five minutes.
  2. 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.
  3. Read the offer. You see the rate, each fee and your total repayment before you agree to anything.
  4. 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.

How Quebec regulates lenders

In Quebec, anyone who lends to consumers needs a money lender permit from the OPC, and online lenders are no exception. Banks, caisses and trust companies are exempt. When a lender's credit rate is above 35%, the OPC can refuse to issue or renew its permit. It has cancelled permits held by lenders charging more.

A loan is high-cost credit when its credit rate, with all credit charges counted, is more than 22 percentage points above the Bank of Canada's Bank Rate. Following the Bank's October 28, 2026 decision, the Bank Rate is 2.75%, so the threshold is now 24.75%. The threshold shifts each time the Bank Rate changes. A loan close to the top of the usual range of 22% to 32% is likely to count as high-cost credit.

For a high-cost loan, the lender needs a second permit, and these rules apply:

  • The lender must confirm you can afford the payments. If it skips this step, it can't charge you any credit charges, and it must return what you've paid.
  • You can cancel within 10 days after you and the lender each have a copy of the contract.

Some rules apply to every loan, high-cost or not:

  • The contract must show the credit rate, the total credit charges and your total obligation. It must also list the number, amount and dates of your payments.
  • You can cancel a money loan within 2 days after you and the lender each have a copy of the contract.
  • You can repay early at any time before the due date. No penalty is allowed.

Payday loans in Quebec

In other provinces, payday loan rules let a two-week loan legally cost $14 per $100. Quebec doesn't have these rules. Here, a payday lender needs the same OPC money lender permit as any other lender. The OPC can refuse a permit to a lender with a credit rate over 35%.

Costs in Quebec

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

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 Montreal, Quebec City, Laval, Gatineau, Longueuil, Sherbrooke, Saguenay and Trois-Rivières, or from anywhere else in Quebec. An application doesn't commit you to anything. You agree to a loan only when you sign a lender's contract.

Check the lender

The Office de la protection du consommateur issues lender permits and takes consumer complaints. Its Get information about a merchant tool tells you if a lender holds a permit and if the OPC has taken action against it. Results are in French. You can call the OPC or use its online request form for questions or complaints.

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.

  • Associations coopératives d'économie familiale (ACEF) and other consumer groups offer budget consulting for free. To find one near you, use the directory of associations (in French).
  • Credit Counselling Canada keeps a list of accredited non-profit credit counsellors. Reputable agencies don't charge for a first meeting.

Before you borrow, look at cheaper options than a payday loan.

Sources

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 Quebec?

Fill in one application and we send it to lenders in our network. Nothing is agreed until you sign a lender's contract.

Apply now