Find the loan or financial service that is right for you

Consider your situation

The cost of borrowing will depend on your situation and what loan you choose. In general, conventional loans and financial services cost less than higher cost loans and financial services.

Shop around and compare different options. Spending a few minutes doing this can save you a lot of money in the end.

Only borrow as much as you need and can repay. The larger the loan, the more it will cost you in interest and the longer it may take to pay off.

---

Find a lower-cost loan or free financial service

Banks or credit unions offer the lowest-cost credit products and services. Even if you have poor credit or limited income, there may still be options available to you.

If you need to cash a cheque, there are free or low-cost cheque cashing services available.

---

Recognize a high-cost loan

Payday loans, high-cost installment loans, lines of credit or leases with an interest rate over 32 percent are regulated under B.C. law.

Any credit agreement for these products must clearly state:

• That it is a high-cost credit product
• The total cost to borrow the money