Payday Loans Online- In Nutshell
Many Canadians use online payday loans to get funds for their short term emergencies. If your loan application is rejected by the traditional banks, or your credit is poor, you are still eligible to apply for it. In Canada, payday loans are known as the best and convenient ways to get cash and troubleshoot all your financial glitches.Apply Now
Do You Have C$500 or More In Saving?
If you really do this, applause for you! A public survey held in Canada's major provinces shows that almost six out of ten Canadians are not able to save money. It can be a big problem when you do not have money and life is throwing various unexpected expenses on your way.
For instance, you have an important meeting, but your car is not in working order, or a nasty storm throws a tree branch on your front window and breaks that. What will you do next? In such situations like this, the ever-green solution is money… you need money to pay for mechanic's expenses, you need money for your home repair and that's why money is a vital thing.
But hold down, what if you are in the list of those Canadians who do not have saving? Even not $500... It is a real problem because the money which solves your all issues, you don't have. In a perfect world, you can rely on your high-interest credit card to cover up all urgent expenses. But according to Q3 2016, average Canadians holding C$3,954.9 in credit card debt and it is increasing year to year by 1.96%. Approx. 15% of Canadians having "BAD" credit tag with rating 520-680 in their credit profile which makes it hard to get approval for loan/credit card.
So, if you have no saving left or no credit is available into your bank account, what can you do when a cash emergency strikes? Did you ever think about it? It feels like that no option is available. But the good news is that there are a safe and instant financial route is available known as online payday loans no credit check.Apply Now
What Are Payday Loans And How Do They Work?
Payday loans Canada are short term loans with a payback time of a few weeks or months. You can get such loans through a storefront, but now as the demand increasing, more and more lenders are operating payday loans online. These loans are like the grace of God for those people who need cash as soon as possible. The entire application process for the availability of such loans is complete in minutes. Say no to bank queues and yes to online payday loans!
Furthermore, payday loans direct lender in Canada will verify your source of income and they need a valid bank account of your own. They verify your income to determine that you can afford your loan and they will need your bank account to credit funds electronically.
For instance, if you need C$500 to repair your car, you will go to payday loans storefront or online payday lender website. There you can choose the loan amount you want and then fill the form with your details.
You can collect your hard cash from a storefront or if you apply online, then it will be transferred directly to your bank account in minutes. Next time when you receive your paycheck, your payday lender simply cash your check; or auto-debit from your bank account. Congrats! Your loan is repaid. Sounds really good right?
Payday loans are really a life-saver for the people who need short term funds before their next paycheck. Around 2 million Canadians borrow money from such loans every year.
Are Online Payday Loans Safe?
When you are facing financial troubles in your life, you might start thinking about getting a loan. However, it is right that not all loans are 100% safe, and this is the reason for some peoples stress. While the safest option to get a loan from a bank, but it is not possible for everyone.
Not everybody can meet the eligibility criteria of bank loans, and most people can't wait for days and days to receive their money. Just because of this factor, thousands of Canadians are turning to payday loans every month in order to receive fast funds.
In answer to your concern question about Are Online Payday Loans Safe, you can look of these warning signs mentioned below before application:
- If they offer such short term loans only for few weeks (mainly two weeks).
- Check the APRs before preceding your online payday loans application.
- A rollover means to extend your loan due by paying an additional fee. If your lender offers "Rollover" when you can't pay back your loan, please excuse from such lenders immediately.
Our website didn't practice such activities and we are committed to keeping our applicant's information secure and private. So, don't worry! No one can access it without your permission. Get started today to apply for "Safe Payday Loans".
Who Borrows From Payday Lenders?
If you are financially helpless, you will be the one who really needs online payday loans instant approval. Payday loans borrowers are mainly low-income earner, the elderly, minorities and those people who are disappointed in their current financial status.
- Around 2 million Canadians use payday loans each year.
- New study found that 90% of Canadians using payday loans to cover their urgent expenses.
- 31% insolvent borrowers using payday loans to get money.
- 45% using payday loans in Canada to pay their expected and unexpected expenses.
- 41% borrow money from these short term loans to avoid late charge fees on their pending bills.
- 60% agree that payday loans are a last resort when they will have no other options.
- Most of the payday loans borrowers' age are below 55 years.
- Mostly payday loans borrowers are live in urban communities like Nova Scotia, Saskatchewan, Alberta, Manitoba and Ontario.
How To Apply For A Payday Loan Online?
As you know enough about payday loans, I think you want to know how to apply for it. Getting started for such loans is very easy; you just need to spend your few minutes to fill out our simple online application. You need to fill the form with your details like your name, address and the loan amount that you want (Don't worry your information is private).
Once you fill your form with details and submit it to us, we will try to provide you an instant decision and approve your application as soon as possible. You will be referred to our one of the most trusted payday loans direct lender in Canada.
After that, your payday lender will contact you with their terms and conditions of your contract. If you are accepted the agreement, funds will be transferred to your bank account electronically or through Interac e-Transfer® within 5 minutes. You are free to spend your money as per your wish without restriction and then pay back it on your due date.Apply Now