New year means small costs for pay day loans in Ontario

New year means small costs for pay day loans in Ontario

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Starting Jan. 1, worth of pay day loans reduced to fifteen dollars for each and every $100 borrowed

The Ontario federal government has diminished the money necessary for borrowing from payday loan providers and has now offered municipalities additional control over where lenders can install specialist.

Starting Jan. 1, maximum fee to get a payday loan in Ontario was actually lowered to $15 for $100 took.

The interest rate was reducing in the last couple of years. In 2017 it was added right down to $18 from $21 each one hundred dollars lent. Continue lendo “New year means small costs for pay day loans in Ontario”