Payday Loans — Cost of Borrowing Disclosure: Ontario residents only. Maximum Allowable Cost per $100 Borrowed is $14. Our cost per $100 borrowed is $14. Example: Your $500 loan for 14 days — Total Cost of Borrowing $70; Total You Repay $570; Equivalent Annual Percentage Rate (APR) approximately 365% for a 14-day term. This information is required under the Payday Loans Act, 2008.
Installment Loans — Cost of Borrowing Disclosure: Loan amounts $400 to $2,500, repayable over 1 to 26 bi-weekly installments (up to 364 days). Interest is calculated based on the amount borrowed and the number of days the loan is outstanding, plus a one-time flat fee. Example: $1,000 borrowed over 12 bi-weekly installments (168 days) — Total You Repay $1,388.08, or 12 bi-weekly payments of $115.67. The one-time flat fee can be waived if provided with a credit score of 690 or higher.
No Credit Check Disclosure*: SimplyCash does not perform a traditional credit bureau check. We may still verify identity, employment income, banking activity and repayment history to determine eligibility. Approval is not guaranteed and is subject to our internal criteria and applicable regulations.
All Payday Loans are subject to net pay and other minimum requirements. SimplyCash believes in responsible borrowing and encourages all its customers to only borrow what is needed. Payday loans are meant to be short-term, cannot be rolled over, and must be paid in full on the due date.
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