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Installment loans in New Brunswick
Borrow $300 to $3,000 and repay it over three to four months, in payments that match your pay schedule. Bad credit can still be approved.
Reviewed November 5, 2026 by the 911cash team. Rules come from official provincial and federal sources, listed at the end of this page. Dollar figures are examples for illustration only.
In short
You can apply from New Brunswick even with bad credit. One 911cash application goes to lenders in our network that typically lend $300 to $3,000 over 90 to 120 days at 22% to 32% APR. New Brunswick already lets you repay a loan early without a penalty, and a new Consumer Protection Act passed in 2024 will require high-cost lenders, installment lenders included, to hold a licence once it comes into force. A New Brunswick payday loan can cost up to $14 per $100: $570 due at once on a $500 loan.
Getting an installment loan in New Brunswick, step by step
- Apply once. The 911cash application takes about five minutes on a phone or computer, from anywhere in New Brunswick.
- A lender reviews it. We pass your application to lenders in our network. One that can help contacts you and asks you to complete Instant Banking Verification, a read-only look at your recent transactions. There are no documents to upload.
- Read the contract. The lender shows you the rate, every fee and the total you'll repay before you agree to anything.
- Get the money. Funds are deposited once you sign, often the same day.
911cash is not a lender. The lender that approves you sets the rate, fees and payment dates.
Installment loan rules in New Brunswick
New Brunswick's current cost of credit law lets you pay off a loan's outstanding balance whenever you choose, with no prepayment charge or penalty. Every installment loan is also subject to the federal 35% APR limit, and that limit includes fees.
In June 2024, the province passed a new Consumer Protection Act with high-cost credit rules that reach installment loans too. The Act isn't in force yet. The government will pick a start date after the detailed rules are finalized. Draft rules were open for consultation by the Financial and Consumer Services Commission (FCNB) until June 17, 2026. When the Act takes effect:
- Every high-cost lender, online lenders included, will need an FCNB licence.
- Agreements will have to be written and signed, and the lender will have to go over the main terms with you.
- You'll have 48 hours from receiving the first advance to cancel, with Sundays and holidays excluded.
- Lenders will be barred from charging fees they didn't disclose, taking deductions from the amount you borrow, or making you buy insurance.
The draft rules would treat a loan as high-cost credit when its APR exceeds the Bank of Canada rate by more than 22 percentage points. Because those rules aren't final, confirm with FCNB before you count on them.
What New Brunswick law says about payday loans
- New Brunswick's regulation adopts the federal limit, so a payday loan's cost is capped at $14 per $100 borrowed.
- You have 48 hours to cancel, excluding Sundays and holidays.
- Rollovers aren't allowed, and neither is a new loan used to pay out an existing one. A lender also can't make you a loan if you already have an unexpired one with it.
- During its term, a loan can't exceed 30% of your net pay.
- On default, the penalty is capped at a non-compounded 2.5% a month, and each bounced payment can add up to $20 more.
- Lenders can't take security, take an assignment of your wages or require you to buy another product. Each location and website must be licensed.
What an installment loan costs in New Brunswick
Typical terms of the lenders in our network, last reviewed November 2026. Your lender's offer may differ.
- Amount
- $300 to $3,000
- Repaid over
- 90 to 120 days
- Annual rate (APR)
- 22% to 32%Based on the risk of the application
- Membership fees
- May applyIncluded in the total your lender shows you
Borrowing $500 in New Brunswick: payday loan vs installment loan
| New Brunswick payday loan | Installment loan at 32% APR | |
|---|---|---|
| How you repay | One payment on your next payday | 7 payments every 2 weeks over 98 days |
| Each payment | $570.00 | About $74.98 |
| Cost of borrowing | $70.00 | About $24.86 |
| Total repaid | $570.00 | About $524.86 |
Example for illustration only. Payday loan at the $14 per $100 maximum. Installment loan at 32% APR, the top of the typical range, before any membership fees.
Under the Criminal Code, lenders in Canada can't charge more than a 35% annual percentage rate, counting fees and other costs of getting the loan. That limit has applied since January 1, 2025. Work out payments for your own amount.
Who can apply
- 18 or older
- A full-time job or steady self-employed income
- Not in bankruptcy
- A Canadian citizen
- An online bank account you can verify
Lenders look mostly at your income and recent banking, so a low credit score alone doesn't rule you out. You can apply from Moncton, Saint John, Fredericton, Dieppe, Riverview, Miramichi, Edmundston and Bathurst, or anywhere else in New Brunswick. Applying doesn't commit you; you only agree to a loan when you sign a lender's contract.
Checking a lender
Payday lenders are licensed by the Financial and Consumer Services Commission (FCNB). To check a licence, look up licensed payday lenders, use the FCNB licence check for other licences, or phone 1-866-933-2222. Complaints can be sent online.
Free help with debt
If you'd be borrowing to keep up with other debts, a non-profit credit counsellor can build a budget with you and may arrange lower payments with your creditors.
- Solve Your Debts, previously called Credit Counselling Services of Atlantic Canada, belongs to Credit Counselling Canada and serves Atlantic Canada.
- Before picking a counsellor, find out what they charge. The Financial Consumer Agency of Canada says reputable credit counselling agencies don't charge for a first meeting.
Before borrowing, see cheaper alternatives to payday loans.
Sources
- New Brunswick, Cost of Credit Disclosure and Payday Loans Act and Regulation 2017-23: payday loan rules and prepayment.
- New Brunswick, Consumer Protection Act, 2024: high-cost credit rules, not yet in force.
- FCNB, Consumer Protection Act and consultation on draft rules (February 17, 2026).
- Financial Consumer Agency of Canada, Payday loans: provincial payday loan cost limits.
- Criminal Code, section 347: the 35% annual percentage rate limit.
- Credit Counselling Canada: accredited non-profit credit counsellors.
- Typical network terms, last reviewed November 2026. Payments are equal installments, with interest per period = APR × days in the period ÷ 365.
General information, not financial or legal advice. Lenders set their own terms and provincial rules change, so check your contract and the sources above.
Apply from anywhere in New Brunswick
One application, sent to lenders in our network. You only agree to a loan when you sign a lender's contract.