People and households in the Canadian economy have been encountering numerous financial obstacles. Inflation, marked by a widespread rise in prices over time, has the potential to diminish the buying ability of currency, impacting various aspects ranging from day-to-day expenditures to achieving enduring financial objectives. Rising inflation has affected Canadians over the last two years, […]
Having a clear plan is essential for reaching financial success, and strategic planning is the cornerstone, whether you’re pursuing short-term financial goals or long-term financial security. An October 2023 CTV News article referred to federal data, revealing that a quarter of Canadians struggled to make ends meet. The escalating cost of living in Canada is […]
Debt can often feel like a heavy anchor, weighing you down and limiting your financial freedom. It’s an everyday struggle, and many individuals find themselves juggling multiple debts with varying interest rates and due dates. When Canada’s net debt was reaching $942.5 billion in 2021, it was causing Canadians a lot of stress. This is […]
Applying for a loan is no longer limited to sitting across from someone at a desk while fluorescent lights buzz overhead and paperwork piles up between you. Today, Canadians can compare lenders, upload information, and receive approval decisions entirely online, sometimes within minutes. But online borrowing is not automatically the right fit for everyone. Online […]
Loan interest is the cost of borrowing money. It is the amount a lender charges in exchange for giving you access to funds now, with repayment scheduled for a later date. In Canada, interest affects how much you repay on personal loans, mortgages, credit cards, lines of credit, installment loans, and other borrowing products. Understanding […]
Borrowing money is a common way for Canadians to manage their finances or get extra help when required. With inflation affecting living costs, more than seven million Canadians have taken out loans to cover expenses in 2022. Knowing the different loan options accessible can play a vital role in accomplishing your financial objectives if you’re […]
Personal loans are a versatile financial tool that can help individuals manage various expenses. Many Canadians opt for personal loans when they need financial assistance, such as bill payments, renovation or repairs, and vacation funding. But how do personal loans work, and where can you find the best options to suit your specific needs? Understanding […]
Unexpected expenses rarely arrive with warning. A car repair, a prescription refill, or a temporary interruption in income can create immediate pressure on your finances. In moments like these, payday loans are often positioned as a way to bridge urgent needs when timing matters more than long-term planning. This guide explains how payday loans work […]
There are many different types of loans available to Canadians, and they play a crucial role in our financial lives, helping us achieve various goals and overcome unexpected expenses. However, there’s often confusion about how many loans one can have simultaneously. When you need additional financial support, it’s normal to ask the question, how many […]
Debt has quietly become part of everyday life for many households across Canada. Credit cards. Lines of credit. Car payments. Emergency borrowing. Buy now, pay later services. Sometimes debt arrives slowly. Other times it appears all at once after a job loss, unexpected expense, or difficult life transition. But debt itself is not always the […]
British Columbia: The APR on a $300.00 loan for 14 days in BC is 365% at the rate of $14.00 per $100 borrowed. Online BC Payday License # 67513.
Ontario Residents: The cost of borrowing at GoDay.ca is $14.00 per $100.00 for each $100.00 advanced. On a $500.00 loan for 14 days, the cost of borrowing is $70.00, with a total payback amount of $570.00 and an annual percentage rate of 365%. The maximum allowable cost of borrowing under payday loan agreements is $14.00 for each $100.00 advanced.
New Brunswick Residents: The maximum charges permitted for a Payday Loan is 14% of the principal. We charge $14 per $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365%.
Nova Scotia Residents: The total cost of borrowing $100.00 for 14 days is $14.00. Payday Loans are High Cost Loans.
Saskatchewan Residents: The maximum allowable cost of borrowing under payday loan agreements in Saskatchewan is $14 per $100 borrowed. We charge $14 per each $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365%.
Manitoba Residents: The APR on a $300.00 loan for 12 days is 425.83% on a rate of $14.00 per $100.00 borrowed. To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800, 1-800-782-0067 or at www.manitoba.ca/cca/cpo.
Alberta Residents: The APR on a $300 loan for 42 days is 121.67% for a borrower who is paid weekly on a rate of $14.00 per $100 borrowed.
PEI Residents: The cost of borrowing at GoDay.ca is $14.00 per $100.00 per each $100.00 advanced. On a $300.00 loan for 14 days, the cost of borrowing is $42.00, with a total payback amount of $342.00. The maximum allowable cost of borrowing under payday loan agreements is $14.00 per each $100.00 advanced.
Non Payment Policy: To collect on a loan in default GoDay.ca will utilize all collection practices available to the issuers of consumer credit in Canada.
