What is a payday loan?
Payday loans are short-term unsecured cash advances created to help people manage urgent expenses. The service is usually used to cover unexpected, small expenses and to avoid penalties for late payments and costly bounced-check fees.
What payday loans are usually used for?
It is totally up to you to choose what to use a payday loan for. In most cases consumers use the option to meet urgent unforeseen expenses or bills.
What amount can I borrow?
The amount available for borrowing varies from $100 to $1,500. On the basis of your application the pay day lender will decide on the amount you qualify for. The amount of future loans can increase in case of successful loan repayment.
How can I get eligible for the service?
You need to meet the following requirements to qualify for a payday advance:
- Current employment
- Canadian citizenship
- Age of 18
- Valid bank account.
What is the process of applying for online payday loans?
Fill out and submit the online application form performed on the website. It will take you least time and you will get approved in a short term, literally in 1 hour.
What data is required in the application?
Name, address, employment details, contact information and some banking data are required to fill in the online application and request a payday loan.
How and when will I get the needed money?
The requested funds are electronically deposited into your checking account. The transfer is usually fulfilled within 24 hours upon approval.
Is my information kept secured?
We use various security measures to maintain the privacy and safety of your personal and financial details. All sensitive information that is transmitted between our site and your browser uses 128-bit SSL (Secure Socket Layer) encryption technology.
Is there any application fee?
We don’t charge any fee for submitting the application through our website. Although, keep in mind that the cost of the payday loan varies depending on the lender and the laws of the province you live in. Thus, review the loan terms carefully before signing the agreement.
Does submitting the online application obligate me to obtain a payday loan?
No. When you submit your application you just state your wish to get contacted by the direct lenders in order to discuss available options. You can ask the lender any questions and withdraw your loan request (if you choose to do so), but only before signing the contract.
What if my credit score is poor?
You can get eligible for a payday loan even with bad credit. In most cases credit score in not considered as a factor in the process of loan approval.
How are payday loans repaid?
The cash advance amount and applicable fees are automatically deducted from your checking account on the due date.
If you have any questions regarding your payday loan, contact your direct lender. CanadaLoanSearch.com is not a lender and doesn’t make any credit decisions. Our website is just a place where you can submit the application and get matched with the direct lender making cash advances.