Loan Calculators
Criminal interest rate checker for Canada.
Enter what you were lent, what you pay and any upfront fees. See the annual percentage rate and whether it is over the 35% criminal rate. Information only, not legal advice.
Inputs
Result
Enter the loan details.
Not legal advice. Payday loans and some commercial loans are treated differently, and the Code excludes some charges. A lawyer or legal clinic can tell you what applies to your loan.
How the check works
Section 347 of the Criminal Code defines a criminal rate as an annual percentage rate of interest, calculated in accordance with generally accepted actuarial practices and principles, that exceeds 35 per cent on the credit advanced. "Interest" is the total of all charges and expenses, whether a fee, fine, penalty, commission or other form, paid or payable for advancing the credit.
The Code does not print a formula. This tool uses the standard actuarial approach: it finds the periodic rate at which the payments, discounted, equal the money you actually received (loan amount minus upfront fees), then converts it to an effective annual rate. Other compounding conventions can differ slightly close to 35%, and the Code excludes some items (for example certain insurance charges and official fees), so put in only charges that count as interest.
Section 347.1 exempts certain payday loans: $1,500 or less, 62 days or less, by a licensed lender in a province designated under the Code. Other exemptions may apply, for example to some commercial loans. This tool does not decide whether an exemption applies.
Sources: Criminal Code of Canada, s. 347 and s. 347.1, Justice Laws Website. Read 2026-09-29.