LOANS >> Personal Loans

Personal Loans

Personal loans online are offered by financial institutions to cover quick cash needs. These loans offer lower interest rates and more flexible payment terms as well. Everything is completed electronically, from the application to the crediting of the loan amount. All the borrower has to do is to complete the application form online and then wait for the money to be deposited to his bank account. The repayments are conveniently made through the same account too.

Applying does not affect your credit score

Everyone has unlimited needs and wants. However, the resources to satisfy these are limited. Cash is one of these limited resources. Every now and then, you be a little short of money and you’ll have to manage your expenses on a tight budget. In some instances, you will have to look for ways to fund your financial needs. This could mean working extra hours and even applying for loans.

While rendering overtime work or taking on a second job could increase your income, there are times when you have financial needs that simply cannot wait for the next payday. In these cases, taking out a loan is your most logical option. You have to make sure, however, that your need is indeed urgent. Taking out a loan for a non-necessity will get you into even deeper financial trouble.

The conventional way of applying for a loan takes time and effort to complete. Loan applications used to take weeks at the very least to process before the loan amount is made available to the borrower. The borrower also has to compile and submit a number of documents together with his loan application. Even with all the trouble, there is no guarantee that the loan application will be approved. There are those who wait for weeks only to find out that their applications have been declined.

Differentiating Personal Loans Online from Credit Cards

While both personal loans and credit cards fall under the same category of financial products, there are clear differences that make one more advantageous than the other depending on your cash needs. Some emergency cash needs are better addressed by personal loans. Since these loans are disbursed in cash, these loans are more flexible that credit cards. Credit cards give you a set credit limit that you may or may not use. The use of your credit, however, is limited to expenses incurred in establishments equipped with credit card terminals.

Credit card loans do not normally have a termination date as they simply accrue interest for as long as you have an outstanding loan balance. Personal loans have a fixed duration within which regular repayments have to be made. At the end of the loan term, the loan account will be closed.

The borrower will have to apply for another loan in case he needs more funds. Since the interest is applied only for the duration of the loan, the borrower knows exactly how much interest charges he has to pay. There is also no likelihood of these charges ballooning to a bigger amount that he might find difficult to repay.

Crediteck

Paperless
No Hidden Fees*
E-Transfer of Approved Funds
Fully Automated Application System
Apply 24 Hours a Day

Why Crediteck?

*We will never charge you fees for our service or ask you to pay upfront fees to be considered for a loan.

Traditional Lenders

A Lot of Paperwork
Hidden Fees
Traditional Bank Transfer
Review and approval may take time
Limited Availability

Personal Loan Advantages

Personal loans clearly offers benefits that credit cards, loan sharks and banks cannot give. Some of these advantages are:

Fast and easy application. It’s easy to make an application for you loans and you don’t have to wait for weeks or months for it to be approved. Usually, application takes five minutes tops. The approval of your application also takes a couple of minutes since there are agents who immediately review your loans.
Fixed interest rate. The interest rate for personal loans are smaller compared to banks, credit cards, and loan sharks. The companies offering this type of loan understand that you are using the money for emergency purposes. Thus, they add as little interest rate as much as possible to help you pay your loans easier.
Flexible and easy payment terms. You can actually pay your loans online. You can also transfer the money from your bank account to theirs. You are also able to set the date for your payment or have the deadline moved and changed when needed.

Emergency cash needs can be addressed with such loans. All you have to do is find a reputable company that offers personal loans and apply online.

Who is Eligible?

Thousands of Canadians, just like you, have benefited from our assistance.

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* 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.

Loans range from $100-$1,000 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).

In the case of a default on your loan your payment plan may be terminated, and different collection methods may be employed to collect your remaining balance. Our lenders employ fair collection practices and Canadian law.

By submitting this form, you are giving your express written consent for Crediteck’s network of lenders to contact you regarding financial products and services that you might qualify for using email, telephone or text – including the use of automated technology, for calls or texts to the number you provided within your loan application.

Extending the term of the loan or making late payments may result in additional interest charges. Extensions are not available if your payment is the following business day or your payment has already been processed. Extensions are not available if you have already extended the maximum time frame and have not made a payment. You will never be charged any “hidden fees” that are not fully disclosed in your Loan Agreement or the Loan Cost & Terms. Late fees and non-sufficient funds/returned item fees may apply as described in your Loan Agreement.