HOW IT WORKS

How being informed can save you money,The Bankeroo process,Find out if you’re eligible,See how Bankeroo stacks up,Bankeroo benefits

The mechanics behind Bankeroo

How being informed can save you money

Know your options and avoid recurring high cost loans

Average cost charged by licensed payday lenders per $100 borrowed based on a nationwide study

Average cost charged by Bankeroo per $100 borrowed by a Prime customer

Our Process + Your Potential

When considering your application, we look at a variety of data points, ranging from your saving patterns to your educational background, to provide you with the highest quality loans at competitive rates.

Our Process + Lower Rates

We use technology to review your financial profile and let you know right away how much money you can borrow. By being confident in our clients, we’re are able to provide extremely competitive rates.


The Bankeroo process

Learn how our four step process is revolutionizing lending

1. Application

Our loan application process is offered entirely online. You can apply 24/7 – whenever its most convenient for you – at the click of a button. Our efficient and secure lending platform is fully automated and paperless and takes no longer than 5 minutes to complete.

2. Analytics

Our unique and proprietary algorithm allows us to review your unique situation to provide you with personalized loans at affordable rates.

3. Approval

Our goal is to get you funded as quickly as possible, which is why our decision-making process is instant, differentiating ourselves from traditional lenders. We want to make sure our loans are right for you, so don’t be surprised if we adjust your terms to secure your approval.

4. Access

Once approved, we provide you quick access to your funds and initiate the money transfer process within minutes. Your loan amount will be directly deposited into your bank account, 24/7 – even on holidays. We give you access to your funds when you need them.

Find out if you’re eligible

Our goal is to save you time. Before starting your application, make sure you meet our basic requirements

Am I Eligible to Apply?

My credit score is above 500 (verified by credit check)
I have no more than 2 NSFs in the last 90 days
I am actively employed with an income of at least $2,000/month
I receive my income by direct deposit
I have a Canadian bank account that has been open for at least 3 months
I have not filed or have the intention to file for bankruptcy

What I Need to Apply?

Employment information
Residential information
Bank account information
Have an active email address
Have a mobile phone

See how Bankeroo stacks up

See for yourself why Canadians are turning to Bankeroo

BANKEROO PAYDAY LOANS
Instant approval
Personalized review of your application
Benefits for repeat customers
Simple & paperless
Builds positive credit history
Highest encryption standards

Enjoy a straightforward process from beginning to end

Bankeroo benefits

We’re so much more than just a lender

At Bankeroo, we believe in your right to receive competitive credit. With traditional lenders, a customer can borrow money on various occasions, yet he always pays the same rate. At Bankeroo, we want to break that trend by offering you the possibility of earning points that you can in turn redeem for larger loans at lower rates. With the Bankeroo Jump, the simple act of paying your loan on time can now lead to significant financial gains.

At Bankeroo, our goal is to help you reach financial freedom. That’s why we report all positive behavior to all major credit bureaus, helping you rebuild your credit one loan at a time. Here’s how it works:

  • During our loan application process, we make a hard inquiry on your credit report, which may subsequently have a temporary negative impact on your credit score
  • We document all payments made by you with respect to your loan and report back to all major credit bureaus
  • Your payments are reported to the major credit bureaus
  • Each credit bureau factors all positive activity into your credit report allowing you to build a positive credit history
  • As you continue to pay your loans on time, you accumulate positive indicators in your credit history. Just as positive activity is reported, we also report missed or late payments, therefore we always urge you to pay your loan on time

At Bankeroo, our policy is no surprises. Unlike traditional lenders, we have no hidden fees, no annual membership fees and no prepayment charges. What you see is what you get.

That’s why the first information we communicate to you is the cost of borrowing and we immediately show you the total cost of your loan through our slider on the home page. We also don’t want you to fall behind in your payments, which is why we may adjust your loan amount to ensure that you’ll be able to repay your loan on time and avoid any late charges.

We never charge any prepayment fees if you repay your loan early, but rather reward you through our Bankeroo Jump rewards program. Our unique rewards program was created specifically with you in mind and was designed to provide financially responsible borrowers with larger loans at lower rates.

At Bankeroo, we are proud to show you the cost of your loan upfront, provide you with a reduced loan amount if it's for your benefit, and reward you with points through our Bankeroo Jump rewards program to ensure that you meet your full potential. The only surprise you’ll face is how easy our process is.

At Bankeroo, we have the upmost confidence in you and want you to feel confident in choosing us.

Our platform and unique algorithm have been designed to choose only the most financially responsible borrowers ensuring that all of our customers succeed in paying back their loans on time. This allows you to improve your credit score and receive larger loans at lower rates through our unique rewards program.

We understand that everyone is human and can sometimes fall on hard times. At Bankeroo, we work with you to find alternative methods of repayments if you're having a difficult time meeting your repayment due date. If this is the case, please call us as soon as possible. We’re here to help.

Bankeroo benefits

We’re so much more than just a lender

Be rewarded with the Bankeroo Jump

At Bankeroo, we believe in your right to receive competitive credit. With traditional lenders, a customer can borrow money on various occasions, yet he always pays the same rate. At Bankeroo, we want to break that trend by offering you the possibility of earning points that you can in turn redeem for larger loans at lower rates. With the Bankeroo Jump, the simple act of paying your loan on time can now lead to significant financial gains.

Build positive credit history

At Bankeroo, our goal is to help you reach financial freedom. That’s why we report all positive behavior to all major credit bureaus, helping you rebuild your credit one loan at a time. Here’s how it works:

  • During our loan application process, we make a hard inquiry on your credit report, which may subsequently have a temporary negative impact on your credit score
  • We document all payments made by you with respect to your loan and report back to all major credit bureaus
  • Your payments are reported to the major credit bureaus.
  • Each credit bureau factors all positive activity into your credit report allowing you to build a positive credit history
  • As you continue to pay your loans on time, you accumulate positive indicators in your credit history. Just as positive activity is reported, we also report missed or late payments, therefore we always urge you to pay your loan on time
Transparency

At Bankeroo, our policy is no surprises. Unlike traditional lenders, we have no hidden fees, no annual membership fees and no prepayment charges. What you see is what you get.

That’s why the first information we communicate to you is the cost of borrowing and we immediately show you the total cost of your loan through our slider on the home page. We also don’t want you to fall behind in your payments, which is why we may adjust your loan amount to ensure that you’ll be able to repay your loan on time and avoid any late charges.

We never charge any prepayment fees if you repay your loan early, but rather reward you through our Bankeroo Jump rewards program. Our unique rewards program was created specifically with you in mind and was designed to provide financially responsible borrowers with larger loans at lower rates.

At Bankeroo, we are proud to show you the cost of your loan upfront, provide you with a reduced loan amount if it's for your benefit, and reward you with points through our Bankeroo Jump rewards program to ensure that you meet your full potential. The only surprise you’ll face is how easy our process is.

Be confident choosing Bankeroo

At Bankeroo, we have the upmost confidence in you and want you to feel confident in choosing us.

Our platform and unique algorithm have been designed to choose only the most financially responsible borrowers ensuring that all of our customers succeed in paying back their loans on time. This allows you to improve your credit score and receive larger loans at lower rates through our unique rewards program.

We understand that everyone is human and can sometimes fall on hard times. At Bankeroo, we work with you to find alternative methods of repayments if you're having a difficult time meeting your repayment due date. If this is the case, please call us as soon as possible. We’re here to help.

BANKEROO

Ready to get started? See for yourself why people choose Bankeroo.