Borrowing in Parson's Pond, Newfoundland and Labrador

This page covers borrowing in Parson's Pond, Newfoundland and Labrador: the census facts, the provincial rules, and the products people compare.

How borrowing works locally

Interest on a line of credit accrues only on the drawn portion, not on the unused limit.

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term. A longer amortisation lowers each payment and raises the total interest paid over the life of the loan.

Products compared here

The site describes 20 products in total; the two below are representative of the range.

• Home equity loans: Converting property equity into credit, and the difference between a lump sum and a revolving limit.
• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.

The census figures for Parson's Pond

Statistics Canada's 2021 Census gives Parson's Pond a population of 368. 12.3 square kilometres of land are attributed to Parson's Pond.

The arithmetic gives 29.8 people per square kilometre.

Among covered Newfoundland and Labrador places, Parson's Pond sits at rank 195 by population.

Compared with the other 322 covered Newfoundland and Labrador places, Parson's Pond ranks 195 by population.

The Newfoundland and Labrador rules that apply

Consumer credit in Newfoundland and Labrador is licensed by the provincial or territorial regulator, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

A payday advance in Newfoundland and Labrador falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (SOR/2024-114).

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

Parson's Pond ranks 195 by 2021 Census population among the covered places in Newfoundland and Labrador.

The Parson's Pond page follows the same structure as every other place page, with population, land area, density and rank.

At 368 residents in the 2021 Census, Parson's Pond is listed alongside the other covered places in Newfoundland and Labrador.

Where a figure for Parson's Pond could not be verified, the page names the publisher instead of printing a number.

Parson's Pond is one of 322 covered Newfoundland and Labrador places, counted at 368 residents with a land area of 12.3 square kilometres.

Nothing on the Parson's Pond page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

Readers comparing Parson's Pond with another community can use the same four census fields.

Parson's Pond appears in the census record with 368 residents, and the density of 29.8 people per square kilometre follows from it.

For Parson's Pond, the two census fields above are the only local statistics used anywhere on the page.

The density figure for Parson's Pond, 29.8 people per square kilometre, is calculated from the population and land area above.

Parson's Pond sits at rank 195 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

The land area recorded for Parson's Pond is 12.3 square kilometres, and the population is 368 residents in the 2021 Census.

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

Statistics Canada's 2021 Census of Population supplies the population and land-area figures, and the federal Payday Lending Regulations (SOR/2024-114) supply the payday position.

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.