Online Payday Loan Rates and Terms in Saskatchewan
$17 per $100
Example: For a $300 loan for 14 days
Principal Amount: $300 loan for 14 days
Total Cost of Borrowing: $51
Total to Pay: $351
"This information conforms to the requirements of The Payday Loans Act"
A Payday Loan is a High Cost Loans
A payday loan is a high cost loan. Payday loans are regulated by the Financial and Consumer Affairs Authority of Saskatchewan. For information relating to payday loans you can visit the FCAA website at https://fcaa.gov.sk.ca
Fees and Charges
The following are fees and charges applied on a payday loan:
Loan fee of 17% of the loan principal, payable on the loan repayment date.
NSF charge of $25. for a dishonoured cheque or pre-authorized debits dishonoured. Default interest of 30% per annum will be charged on the outstanding principal balance of the loan, if you fail to pay the loan in full on the loan repayment date.
Rights to cancel payday loan
The borrower shall have the right to cancel the payday loan, without reason or cost, at anytime before the end of the business day following the date that the payday loan agreement was entered into.
To cancel a payday loan agreement. the borrower shall:
Give written notice of the cancellation to Prarie Sky Cash Loans Corp. by use of the Notice of Cancellation form. The cancellation notice must be delivered by email to firstname.lastname@example.org
Repay to Prarie Sky Cash Loans Corp. by payment method of e-transfer. the amount that was advanced to the borrower under the payday loan. The funds must be e-transferred to Prairie Sky Loans Corp. at email@example.com.
On the cancellation of a payday loan agreement and receipt of loan repayment, Prairie Sky Cash Loans Corp. will immediatly provide the borrower with a Recipt of Cancellation form the loan agreement respecting the amount the borrower paid or returned to the payday lender on cancelling the payday loan agreement.
The cancellation of a payday loan agreement extinguishes every liability and obligation of the borrower is under. or related to. the payday loan agreement.
If you feel you may benifit from confidential debt counselling. Credit Counselling Canada can be reached by calling toll-free at 1-866-398-5999; by fax at 416-929-5256; by e-mail at firstname.lastname@example.org or by mail at 401 Bay Street, Suite 1600, Toronto, ON, M5H2Y4. You can also visit their website for further information at www.CreditCounsellingCanada.ca.