The cost of borrowing from a payday lender in the province is set to become the lowest in the country.
The province announced last week that the payday loan borrowing rate would be decreasing from $21 dollars per $100 dollars loaned to $14 dollars per $100 loaned.
A payday loan is considered an amount of $1,500 dollars or less with payment terms under 62 days.
The rate is set to come into effect on December 15, 2022.