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Installment loans

What are Installment Loans?

Installment loans are a form of online loans that are provided to the borrower in a lump sum at the beginning of the transaction and then paid back over time at monthly or biweekly intervals. These loans are generally larger than payday loans, but smaller than the personal loans issued by financial institutions.

The terms of an installment loan can range from short-term to medium-term durations, but most fall within the range of 6 months to under 5 years. However, these loans also come with a higher interest rate than personal loans as they are primarily targeted to borrowers with lower credit scores.

What are the Uses of an Installment Loan?

The installment loan is less regulated than a payday loan, and can be used for any purpose that the borrower wishes to channel the funds into. However, because of the higher rates that the loans have, they are best used for emergency needs such as:

Automotive or home repairs

Installment loans can be issued to cover the costs of these repairs that are typically paid out in a lump sum either prior to or directly after completion of the repairs depending on the vendor.

Utility bills

In cases where the borrower finds themselves unable to pay off an impending hydro, cellphone, or other type of basic utility bill, the installment loan can be used to keep the lights on – literally and figuratively.

Medical Expenses

Unforeseen medical expenses that arrive unexpectedly often cannot be met by income and savings. If this is the case for a borrower, then the installment loan can be a lifeline that provides lump sum payment at the outset.

What You Need for Installment Loans?

When searching for an online installment loan, most vendors will typically ask for the same basic requirements at the minimum in order for you qualify for a loan. These are:

Proof of Income:

This can be a tax slip, employer verification letter or other such document. However, a full-time job is not a criteria for the proof of income requirement. Part-time jobs, disability income, pension income, and social welfare benefits count too.

Bank Account:

In most cases, online installment loan providers ask for a valid and active bank account to deposit the funds into. However, it is also possible to obtain cash loans from a physical branch location in some cases, albeit rare.

Age Verification:

In most provinces and territories, the minimum age for receiving an installment loan is 18. For this reason, installment loan providers will ask for government-issued ID.

Canadian Citizenship or Permanent Residency:

Installment loans are typically extended only to Canadian citizens or permanent residents.

Not sure if an installment loan is right for you?

We understand that when you have a cash emergency, you need money fast. We also understand that when it comes to your finances, you want to work with a company you can trust. That's why Cash Money is here to provide answers to your questions, so you can feel comfortable with your decision – whatever that may be. Select a topic below to learn more.

Apply For A Loan In 6 Minutes Or Less

Fill out our simple online application

Our application process takes less than 6 minutes to complete. You will receive an approval notification in your email

Sign your contract with one click of a mouse

You will receive your contract in the email shortly after, simply click on the box and we will have your contract back instantly

Receive the funds directly in your bank account

Upon receipt of your contract our systems will automatically process direct deposit request to your account.

Borrow Instantly, Repay Slowly

Flexible Payback options enable you to plan for your future

Canada offers multiple financial solutions to its residents. With growing burdens of life, financial issues have become common. However, it becomes easier to manage one's expenses by availing of the provided solutions.

Loans are a common option for Canadians when there is an urgent need for money. There are a variety of options to be availed depending on your needs and eligibility.

Our company offers Installment loans and:

  • Bad Credit
  • Personal
  • Guaranteed Approval
  • Short Term
  • Long Term
  • Fair Credit
  • Loan With a Cosigner
  • Without Proof of Income
  • No Credit check

What's an installment loan? An installment loan allows you to pay off a personal loan through a series of manageable payments over time. Choose the plan that is right for you, and easyfinancial will help you get back to bank rates with flexible payment terms.

We can help with?

Online installment loans : - Apply online for an installment loan and get approved in minutes

Short term installment loans : - Pay off a personal loan in a short period of time and rebuild your credit

Long term installment loans : - Take the time you need to pay off your personal loan

Bad credit installment loans : - Improve bad credit with an installment loan

Where We Operate

We are committed to provide best customer experience possible. Currently we offer personal term loans in Ontario, Alberta, Newfoundland and Labrador and British Columbia, but do check back with us soon, as we are working on expanding our reach to other provinces and territories.

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