Archive for December 2018

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Happy Holidays from the Prudent Financial Family!

On December 12, 2018 / Happy Holidays / Comments Off

Happy Holidays from the Prudent Financial family. We wish you the best this holiday season and hope you get to spend it with your loved ones. See you in 2019!

Good News for Holiday Shoppers: Canadian Interest Rates Staying Steady for December 2018

On December 6, 2018 / Bank of Canada Interest Rate, Canadian Interest Rate, Holiday Spending, Interest Rates, Personal Loan / Comments Off

If you’ve been putting holiday purchases on your credit card, the latest Bank of Canada announcement will come as a relief – Canadian interest rates are staying at 1.75% for the rest of 2018. On December 5, 2018, the Bank of Canada (BOC) announced that it would…

Twitter

Need inspiration? Here’s how several personal finance bloggers #SaveMoney over the holidays. From @CBC & ft.… https://t.co/is1v04DJXJ 11:30:00 AM December 13, 2018

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The Fineprint

Here is the fine print for your Prudent loan.

Min and Max period for a Prudent loan repayment

Answer: 1-5 years

What is the maximum annual percentage rate (APR), which includes the interest rate plus fees and other costs for a year?

Answer: 5.75% plus annual fee (ranges from 10% -19%) APR* – 15.75% – 24.75% maximum (effective rate will vary).

A representative example of a Prudent loan – How is it broken down with all applicable fees

A typical 1000.00 loan, paid off over a 12 month period borrows an amount of 1020.00 which includes the $20 credit application fee. Total cost is 231.94. Payment is 104.33. This does not include optional life insurance

*Rates vary according to credit risks but at all times compliant with all applicable legislation and Prudent does not rely upon any exclusion intended for a pay day style loan company.

Liens and other searches 16.00 and up dependent on loan amount and amortization.

In some situations some security may be required.

Questions? We pioneered the Responsible Lender Pledge. Call us anytime and we’ll be happy to discuss your loan and what fees may be involved depending on your particular circumstances.