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Through our platform you can access fast personal loans for bad credit when you need emergency financial relief. We connect your application with our network of Canadian lenders, who often don’t perform credit checks and judge your application based on your income and other factors.
While traditional online payday loans often have a demanding payment schedule and high interest rates that can potentially cause a cycle of debt, a personal loan for bad credit is a financial option tailored for individuals with imperfect credit who are looking for quick financial assistance. With the option to spread repayments over 6 to 8 bi-weekly payments, you can effectively manage your expenses, addressing your immediate needs without the pressure of a lump-sum repayment. Unlike traditional lenders, our network of online lenders consider various factors beyond just credit scores, making it easier for those with less-than-ideal credit history to obtain funds.
Our application process is straightforward and convenient, making it a viable choice for quick financial assistance.
Use our online application, it’s easy and only takes a few minutes to finish.
Upon approval, you will be directed to a link to connect your bank account.
Upon approval, review and sign loan offer from Lender.
Receive money VIA E-Transfer and make scheduled payments.
In Canada, personal loans for bad credit and payday loans serve as two distinct financial products, each with its own set of characteristics and implications for borrowers. While payday loans and cash advances offer quick access to funds, they often come with high interest rates and demanding repayment schedules that can exacerbate your financial stress. Our solution provides an alternative that stands out.
Rather than relying on traditional payday loans, our network of lenders specializes in installment loans tailored for individuals with bad credit. The key difference lies in the repayment structure. With payday loans, borrowers are typically required to repay the entire borrowed amount, plus interest, in a single lump sum on their next payday. This can be financially burdensome.
In contrast, installment loans allow borrowers to spread their repayments over a more extended period, typically 6 to 8 bi-weekly payments. This approach offers a more flexible and manageable way to secure the funds you need, addressing your immediate financial needs without the pressure of a lump-sum repayment.
Simply use our online application to get pre approved, If you are approved you will be redirected to an instant bank verification page to verify your details with a lender who wants to work with you.
Increase Your Approval Odds with our Direct Lender Network in Canada! At Crediteck, we understand the importance of securing a short-term installment loan when you need it most. That’s why we have built a strong network of direct lenders across Canada to connect you with the right loan options. When you choose Crediteck, you benefit from the following advantages:
$100 - $5,000
4 - 24 Months
29.99% - 46.96%
The chart below represents illustrative examples of the cost and payment schedule of a $720 personal loan.
The cost of your credit as a yearly rate
The dollar amount the credit will cost you
The amount of credit provided to you on your behalf
The cost of your credit as a yearly rate
|
Payment Number
|
Amount of Payment
|
When Payments Are Due
|
|---|---|---|
|
1
|
$129.76
|
01/09/2024
|
|
2
|
$129.76
|
01/23/2024
|
|
3
|
$129.76
|
02/07/2024
|
|
4
|
$129.76
|
02/21/2024
|
|
5
|
$129.76
|
03/04/2024
|
|
6
|
$129.76
|
03/18/2024
|
* Disclaimer: This Consumer Installment Loan Rate Schedule provides an illustrative example of a typical extension of credit lenders offer to qualified applicants. The APRs noted above are for a $720 loan repayable in six bi-weekly payments. The terms listed in this Consumer Installment Loan Rate Schedule may be offered for only a limited period of time and may differ from your loan agreement. Rates are current as listed and are subject to change. The rates displayed do not represent a loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs. You should always seek competent professional advice prior to engaging in any financial transaction.
Online personal loans have many “names” including installment loans, loans for bad credit, payday loans and e-transfer loans. All of these search terms are common terms while looking for a personal loan with bad credit. Click below to learn more about these different terms and why they are used while searching for financial assistance.
Click to learn more about personal loans in Canada.
Click to learn more about E-transfer loans in Canada.
Learn more about bad credit loans in Canada.
Click to learn more about payday loans in Canada
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Disclaimer: Crediteck is an independent loan search and financial services comparison platform. Crediteck may receive compensation from the offers shown on its website or the providers you may be matched with after you submit an application. Our intention is to provide you with the best tools, content, products and services to help you reach your financial goals. Crediteck’s services and resources are free to use and we do not charge consumers for any of our services. We aim to provide applicants with impartial and accurate information so that they can make the best financial decisions.
Loans range from $100-$5,000 with terms from 4 months to 24 Months or longer. APRs range from 29.99% to 46.96% and will depend on our partner’s assessment of your credit profile. For example, on a $1,000 loan paid monthly over 12 months at 29.99% APR, a person will pay $125.09 per month for a total of $1,501.08 over the course of the entire loan period. In the event of a missed payment an insufficient funds fee of around $45 may be charged (dependent on the lender).
* You acknowledge that by completing and submitting the website application you are applying for a Loan. Crediteck.ca does not perform any credit checks as part of the process of connecting you to a lender. Once connected to a lender they may, at their discretion, perform credit verification through national databases in order to determine your eligibility and ability to repay. Simply having bad credit is often not a disqualifying factor in the loan approval process.