PayBright offers online loans ranging from $100 to $1,500, with a short term of 1 to 14 days. The borrowing process is straightforward: select your desired amount and term, apply for the loan, and receive the funds. To be eligible, you must be of legal age in your province and have a Canadian credit file. The cost of borrowing is $15.00 per $100 on a $300 loan for 14 days (391.07% APR), meaning a total repayment of $319. A promotional rate is available in-store, reducing the cost to $6.67 per $100 on a $300 loan for 14 days (173.81% APR).
PayBright review
PayBright is a financial service that offers online loans ranging from $100 to $1,500. The loan terms are quite flexible, with a period of 1 to 14 days to repay the borrowed amount. The process of borrowing is straightforward and hassle-free. It involves choosing the amount and term that suits you, applying for the loan, and then receiving the money.
The loan terms require the borrower to be at least the age of majority in their respective province and to have a Canadian credit file. This ensures that the service is accessible to a broad range of individuals who meet these basic criteria.
The repayment structure of PayBright is transparent and easy to understand. For instance, if you borrow $300, you will be charged a fee of $19, making your total repayment $319 over a term of 14 days. It’s worth noting that the cost of borrowing is $15.00 per $100 on a $300 loan for 14 days, which translates to an annual percentage rate (APR) of 391.07%. However, there is a promotional rate available in-store where the cost of borrowing is reduced to $6.67 per $100 on a $300 loan for 14 days, resulting in an APR of 173.81%.
In summary, PayBright offers a convenient and transparent loan service, providing quick access to funds with flexible repayment terms. It’s an option worth considering for those in need of short-term financial assistance.
Table of repayments
| Amount | Fee | Total payment | Term |
| $300 | $19 | $319 | 14 days |
The cost of borrowing is $15.00 per $100 on a $300 loan for 14 days (391.07% APR). The $300 for $20 promotional rate is only available in-store: Under this offer, the cost of borrowing is $6.67 per $100 on a $300 loan for 14 days (173.81% APR).