Borrowing in Kensington, Part 1, Prince Edward Island

This page covers borrowing in Kensington, Part 1, Prince Edward Island: the census facts, the provincial rules, and the products people compare.

How borrowing works locally

A payday advance is repaid on a pay date, while an instalment loan is repaid over a set number of payments.

Interest on a line of credit accrues only on the drawn portion, not on the unused limit. Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.
• No credit check loans: What lenders who advertise without a credit check actually look at instead, and where the cost goes.

The census figures for Kensington, Part 1

3,090 people were counted in Kensington, Part 1 in the 2021 Census. 155.2 square kilometres of land are attributed to Kensington, Part 1.

Dividing population by land area gives 19.9 residents per square kilometre, rounded to one decimal place.

Its provincial population rank is 8 within this data set.

Compared with the other 91 covered Prince Edward Island places, Kensington, Part 1 ranks 8 by population.

The Prince Edward Island rules that apply

Provincial or territorial law decides who may lend in Prince Edward Island, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

The federal Payday Lending Regulations (SOR/2024-114) list Prince Edward Island among the provinces that regulate payday lending, where the federal Payday Lending Regulations (SOR/2024-114) cap the cost of borrowing at $14 per $100 advanced.

At the small end of the census range, the community still borrows inside the province's licensing system.

Where a figure for Kensington, Part 1 could not be verified, the page names the publisher instead of printing a number.

The density figure for Kensington, Part 1, 19.9 people per square kilometre, is calculated from the population and land area above.

Nothing on the Kensington, Part 1 page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

The Kensington, Part 1 page follows the same structure as every other place page, with population, land area, density and rank.

For Kensington, Part 1, the two census fields above are the only local statistics used anywhere on the page.

Kensington, Part 1 ranks 8 by 2021 Census population among the covered places in Prince Edward Island.

Kensington, Part 1 is one of 91 covered Prince Edward Island places, counted at 3,090 residents with a land area of 155.2 square kilometres.

Kensington, Part 1 sits at rank 8 within Prince Edward Island in this data set, and the provincial rules apply as they do elsewhere.

Kensington, Part 1 appears in the census record with 3,090 residents, and the density of 19.9 people per square kilometre follows from it.

The land area recorded for Kensington, Part 1 is 155.2 square kilometres, and the population is 3,090 residents in the 2021 Census.

At 3,090 residents in the 2021 Census, Kensington, Part 1 is listed alongside the other covered places in Prince Edward Island.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

Where a figure could not be verified, the page names the publisher instead of printing a number.