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Manitoba Resident Agreement
Payday loans are high cost loans.
In Manitoba, the maximum allowable charge for a payday loan is 17% of the principal amount of the loan.
Sample $300 loan for 12 days
Total cost of credit = $51.00
The Annual Percentage Rate (APR) 517.1%.
The total that must be repaid is $351.00
This information meets the requirements of The Consumer Protection Act.
License # 39197
Ontario Resident Agreement
How much will your loan cost you?
The Maximum Allowable Cost per $100.00 Borrowed:
Our Cost per $100.00 Borrowed:
Your $500.00 loan for 14 days.
Amount Advanced: $500.00
Total Cost of Borrowing: $75.00, an annual percentage rate of 391.07%
Total To Repay: $575.00
This information is required under the Payday Loans Act, 2008
For helpful educational materials approved by the Registrar, Payday Loans Act, 2008, please click here.
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