Payday Loan - Home Page
The financial institutions are fast realizing the need and demand for instant payday loan in Canada as these loans are easy to secure and many people are amidst a cash crunch some time or the other. The low cost payday loan in Canada provides instant money in the range of $100 to $1000 approximately, within 48 hours of applying. The interest rates charged by the lending company is very high, thus it gains a lot in the process while the borrower is happy to get fast cash with minimal formalities in the time of need.
The procedure for getting the instant payday loan in Canada is very simple, provided the person applying for it fulfills certain criteria. The person should be at least 18 years of age, employed with the same employer for at least 3 months, produce a salary slip or income proof, and must have a checking account in any Canadian bank.
In instant payday loan in Canada, the borrower gives a post dated cheque to the lending company or authorizes it to withdraw the payback amount directly from its account. The pay back amount includes the principal amount plus the interest accrued or any fees levied. If the cheque is bounced or insufficient funds are there, the borrower has to pay the cheque return fee. If still the borrower is unable to pay the full amount, he/she has an option of roll-over of loan which means he takes another loan to pay back the previous one.
Getting the instant payday loan in Canada is very easy, full process can be carried online or on the phone. There is no need to submit a list of documents or waiting in queues for approval. Since the borrower does not require sending any faxes, these loans are called faxless or no fax payday loan in Canada.
In the instant payday loan Canada, no hard credit check is done; therefore, people with bad credit history can also get the loans instantly. It is a good way to build good credit record by paying off all due utility and credit card bills using the instant payday loans and paying them back with the next salary cheque.
We see that the low cost payday loan in Canada is a fast and easy way to get cash when required, but the borrower must check for the lending company's reliability and experience before going for it. Also, he must ensure that he is getting the correct interest rate, should read the terms and conditions carefully before agreeing to it. If you are aware and careful enough to go through all required details before deciding on the lender, you will get the money hassle free and on time.