It can be a daunting job trying to make your way through a comparison of all the various offers for short-term and payday loans. All kinds of variables come into play. Maybe a lender follows loan regulations, applying a fixed rate on the amount borrowed. Or, maybe a lender is unlicensed and charges annual interest and brokerage fees. They may offer longer terms, but is it really going to be your best option? Just when you need funds fast, you have to try and make heads or tails out of all this?
This chart makes it easy to figure which short term or online loan best meets your needs and circumstances (based on the Ontario payday loan rates):
There’s nothing like a direct one-to-one comparison to help you evaluate your options. You should always compare the terms on offer for any online short-term loans that you’re considering. Also, keep in mind that the provinces all have different regulations on rates that licensed lenders can charge. If you’ve got any questions around regulations or rates in your province, our Customer Service Advisors are there to help.