Some people in Vancouver, BC in Canada have this dilemma of finding similarities between payday loan and personal loan. In fact, there are big differences between the two. Like, a payday loan is often offered for a small amount, whereas, loan amount can be extended along with repayment term in personal loans.
Another difference is the rate of interest. As already mentioned, payday loans in Vancouver have 23% as the rate of interest, but in personal loans it can be lower or higher as per the circumstances. There are high penalties under a payday loan offering which is not that much in a personal lending.
The Final Note
Choose to have payday loans Vancouver, BC, Saskatchewan, Ontario, Manitoba, Alberta, Regina in Canada once you clear the picture by going through the above information. Let your finances be flexible at a certain point of time after getting the necessary fiscal aid.
"The following loan calculator will help you determine your monthly loan payment for any type of loan based on loan size, interest rate and loan length. You can also find a refinement table at the bottom of the page."