FCAA is SaskatchewanвЂ™s financial and consumer market regulator.
Consumer Credit Division
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
What you should know
For details about your pay day loan choose from your options below.
A cash advance is a high price, little, temporary loan supplied without safety (no security) to a debtor. The mortgage must be no more than $1,500 and also have a phrase of lower than 62 times.
Be familiar with the total annualized borrowing price (ABR) of that loan before you consent to use the mortgage. The ABR calculation ought to include most of the lenderвЂ™s charges or fees attached to the loan вЂ“ interest costs and application, put up, management or any other costs. A good higher rate credit cardвЂ™s APR is going to be somewhat cheaper that the ABR calculated centered on a $17 charge to borrow $100 for an online payday loan term. As an example, the ABR to borrow $100 at a $17 charge for just one is 866% per annum, which is significantly higher than a typical 28% per annum credit card week. Continue reading “Financial and Consumer Affairs Authority of Saskatchewan”