Cost of Borrowing
British Columbia Resident Agreement
Maximum charges permitted in British Columbia
for a payday loan: 14% of the principal.
We
charge: 14% of the principal
Total cost of borrowing = $42.00
Annual Percentage Rate = 365% per year.
This information meets the requirements of the
Business Practices and Consumer Protection Act
Cost of Borrowing Alberta
Maximum charges permitted in Alberta for
a payday loan: $14 per $100 lent
We charge: 14% of
the principal
Total cost of borrowing = $42.00
Annual Percentage Rate = 365% per year.
Payday loans are a form of high-cost credit.
This information meets the requirements of the
Business Practices and Consumer Protection Act
Payday Loans are high-cost loans. Loan amounts depend on net pay and other qualifying
requirements.
British Columbia Residents: The maximum fee allowed for a Payday Loan in BC is 14% of the
principal. We charge $14 per $100 borrowed. For example, a $300 loan over 14
days has a total borrowing cost of $42, requiring repayment of $342, with an
APR of 365.00%
Manitoba Residents: The maximum allowable charge is 14% of the principal. We charge
$14 per $100 loaned. Example: A $300 loan for 12 days costs $42 to borrow, with
total repayment of $342 and an APR of 425.83%. Contact Manitoba Consumer Protection
Office at 1-204-945-3800 or visit gov.mb.ca/cp/cpo.
Nova Scotia Residents: Cost of borrowing is $14.00 per $100 on a $300 loan for 14
days (365.00% APR).
Ontario Residents: Maximum cost is $14 per $100 borrowed. We charge $14 per
$100. A $500 loan for 14 days costs $70 to borrow, with total repayment of
$570 and an APR of 365.00%.
Saskatchewan Residents: Maximum cost is $14 per $100 borrowed. We charge $14 per
$100. A $300 loan for 14 days costs $42 to borrow, with total repayment of
$342 and an APR of 365.00%.