Cash Loan Calculator: How Much Could You Save? | Refresh Financial

How much can you save on loan interest payments based on your credit score?

Try our calculator below to see the difference yourself. Watch your payments grow and shrink, based on your credit score.

*Interest rate

Monthly payments

Monthly interest

Borrowed amount

Total interest paid

Interest with better credit

Total interest paid

Savings with better credit
You qualify for the best interest rates available
Build your credit with Refresh Financial Apply Now >>

Like a loan. But backwards.

We do things differently.


Boost your credit

Every payment you make towards your credit building loan gets reported to the credit bureaus, giving you that all important positive payment history.


Build your savings

By the end of your credit building program, you’ll have a stash of cash to use however you like*.


Get financial wisdom

Become financially savvy through our financial intelligence training and Dime Turner™ blog.


Say goodbye to no

Hearing no when it comes to your finances will become a thing of the past with a good credit score, financial fitness and savings up your sleeve.

How Much do Payday Loans Cost?

If you've ever been up watching tv at 3am, you've heard their commercials. It's quick. It's easy. No credit checks. It's money when you most need it. When you're struggling, these can be exactly the words you want to hear. This isn't an accident. Payday loan companies know just how to catch you when you're down.

But what they don't say, is just how expensive those quick and easy loans really are. Some predatory lenders will make quick high-interest loans the easy way out in the short term. While it may be easy to get a payday loan, it is never a recommended strategy. The predatory nature of lenders working in the payday loan industry tend to make customers with poor credit their targets. At Refresh, we believe the path to building good credit can be difficult - but never impossible.


Can't Stop Spending? You're Not Alone

Before you head out with your wallets this weekend, I want you to think about what impulse buying is. I want you to recognize the factors that lead to impulse buying. I want you to learn how to protect your money from your own impulse.

Find ways to tie up your cash so you can't spend it, or at least make it harder to spend. Don't bring your credit cards with you when you're in high-risk impulse buying situations. Use cash, and limit how much you have on you.

The key here is not to feel guilt for having weaknesses. The key is to recognize that we all have them, and identifying which are yours. Recognize the traps you fall into and take preemptive measures to avoid them.


Who Gets Payday Loans?

We've talked a lot here at Refresh Financial about the struggles millennials face with credit and borrowing. Millennials tend to have poorer credit than the generations that have come before them, with only 2% of millennials having excellent credit scores, according to some sources. We've talked about the fact that this generation doesn't seem all that interested in obtaining credit, with the amount of credit card debt held by 35-year-olds or younger at it's lowest since the eighties. There are side effects to this phenomenon though, and not the least of these is the increased usage of payday loans by millennials.

*Savings begin to be built after paying off initial commitment fee.

Hi a few months ago I was rejected for getting a new phone through a contract because of my poor credit rating due to old credit. No one would give me a chance until I started paying monthly payments to Refresh Financial. Now thanks to you I was approved for a new phone under a contract and it feels great not having to waste all that money on prepaid minutes for my phone even if I never used them. Now I’m saving money, rebuilding my credit and I owe it all to you. ”

Ashley, Stellerton, NS