BANKEROO LEGAL

Rates & Terms

Let’s address the elephant in the room

Rates & Terms

We’re passionate about our products as well as our customers and it shows in the rates and terms that we provide.

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Bankeroo is working hard to offer our services nationwide.
If your province isn’t on the list, rest assured, we’re on the way!


Single Payment Loans

Available Terms

Eligible applicants may choose to borrow $250 to $1,500 for a fixed period of 2 months (61 days). The loan amount and rates available to our customers will depend on their status in our unique Bankeroo Jump rewards program.

We never charge any prepayment fees if you repay your loan early, but rather reward you through our Bankeroo Jump rewards program.

Loan Fees

Bankeroo borrowing rates never exceed 15% of the total repayment amount, while our Prime Level customers can borrow for as little as 7%.

Fees Examples

Repayment Amount
Loan Amount Loan Length Bronze Silver Gold Platinum Prime
$250.00 61 days $287.50 $282.50 $277.50 $272.50 $267.50
$500.00 61 days $575.00 $565.00 $555.00 $545.00 $535.00
$750.00 61 days $862.50 $847.50 $832.50 $817.50 $802.50
$1,000.00 61 days $1,150.00 $1,130.00 $1,110.00 $1,090.00 $1,070.00
$1,250.00 61 days N/A $1,412.50 $1,387.50 $1,362.50 $1,337.50
$1,500.00 61 days N/A $1,695.00 $1,665.00 $1,635.00 $1,605.00
Loan Amount $250.00
Loan Length 61 days
Repayment Amount Bronze $287.50
Silver $282.50
Gold $277.50
Platinum $272.50
Prime $267.50
Loan Amount $500.00
Loan Length 61 days
Repayment Amount Bronze $575.00
Silver $565.00
Gold $555.00
Platinum $545.00
Prime $535.00
Loan Amount $750.00
Loan Length 61 days
Repayment Amount Bronze $862.50
Silver $847.50
Gold $832.50
Platinum $817.50
Prime $802.50
Loan Amount $1,000.00
Loan Length 61 days
Repayment Amount Bronze $1,150.00
Silver $1,130.00
Gold $1,110.00
Platinum $1,090.00
Prime $1,070.00
Loan Amount $1,250.00
Loan Length 61 days
Repayment Amount Bronze N/A
Silver $1,412.50
Gold $1,387.50
Platinum $1,362.50
Prime $1,337.50
Loan Amount $1,500.00
Loan Length 61 days
Repayment Amount Bronze N/A
Silver $1,695.00
Gold $1,665.00
Platinum $1,635.00
Prime $1,605.00

The loan information disclosed above is illustrative and may not reflect the actual rates available on all loans in your province. Before entering into an agreement with Bankeroo, you should carefully read the loan agreement that will be provided to you during the application process.

Other Fees

Non-Sufficient Funds: When a customer's payment is returned unpaid by the customer's bank for any reasons such as insufficient funds, Bankeroo charges a one-time fee of $50.00.


Installment Loans

Available Terms

Eligible applicants may choose to borrow from $1.500 to $10,000 for up to 5 years. The loan amount, duration and rates available to our customers will depend on their status in our unique Bankeroo Jump rewards program.

Loan Fees

Processing Fee: Bankeroo charges a processing fee in the amount of two percent (2%) of the amount borrowed. The processing fee is fully earned at origination and is deducted from the amount borrowed.

Interest: the interest rate Bankeroo charges will depend on the amount and duration of the loan and the customer’s status in our unique Bankeroo Jump rewards program.

Fees Examples

Platinum Members

Loan Amount Loan Length Processing Fee Interest Paid Total Amount Repaid APR
$1,500 12 months $30 $521.32 $2,021.32 64.51%
$3,000 12 months $60 $966.83 $3,966.83 60.41%
$4,000 36 months $80 $3,881.44 $7,881.44 53.73%
$5,000 36 months $100 $4,410.07 $9,410.07 49.59%
$5,000 42 months $100 $5,270.58 $10,270.58 49.43%
Loan Amount $1,500.00
Loan Length 12 months
Processing Fee $30
Interest Paid $521.32
Total Amount Repaid $2,021.32
APR 64.51%
Loan Amount $3,000.00
Loan Length 12 months
Processing Fee $60
Interest Paid $966.83
Total Amount Repaid $3,966.83
APR 60.41%
Loan Amount $4,000.00
Loan Length 36 months
Processing Fee $80
Interest Paid $3,881.44
Total Amount Repaid $7,881.44
APR 53.73%
Loan Amount $5,000.00
Loan Length 36 months
Processing Fee $100
Interest Paid $4,410.07
Total Amount Repaid $9,410.07
APR 49.59%
Loan Amount $5,000.00
Loan Length 42 months
Processing Fee $100
Interest Paid $5,270.58
Total Amount Repaid $10,270.58
APR 49.43%

Prime Members

Loan Amount Loan Length Processing Fee Interest Paid Total Amount Repaid APR
$1,500 12 months $30 $408.68 $1,908.68 52.20%
$3,000 12 months $60 $743.72 $3,743.72 48.09%
$5,000 24 months $100 $2,022.23 $7,022.23 37.97%
$7,500 24 months $150 $2,564.31 $10,064.31 32.89%
$10,000 36 months $200 $5,282.57 $15,282.57 32.19%
Loan Amount $1,500.00
Loan Length 12 months
Processing Fee $30
Interest Paid $408.68
Total Amount Repaid $1,908.68
APR 52.20%
Loan Amount $3,000.00
Loan Length 12 months
Processing Fee $60
Interest Paid $743.72
Total Amount Repaid $3,743.72
APR 48.09%
Loan Amount $5,000.00
Loan Length 24 months
Processing Fee $100
Interest Paid $2,022.23
Total Amount Repaid $7,022.23
APR 37.97%
Loan Amount $7,500.00
Loan Length 24 months
Processing Fee $150
Interest Paid $2,564.31
Total Amount Repaid $10,064.31
APR 32.89%
Loan Amount $10,000.00
Loan Length 36 months
Processing Fee $200
Interest Paid $5,282.57
Total Amount Repaid $15,282.57
APR 32.19%

The loan information disclosed above is illustrative and may not reflect the actual rates available on all loans in your province. Before entering into an agreement with Bankeroo, you should carefully read the loan agreement that will be provided to you during the application process.

Other Fees

Non-Sufficient Funds: When a customer's payment is returned unpaid by the customer's bank for any reasons such as insufficient funds, Bankeroo charges a one-time fee of $50.00.

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