Canada Payday Loans carry out very simple and easy application process to lend online short term loans to its customers. We provide user-friendly interface to our visitors so that they can apply for required payday loan amount without any trouble and hassling.
First of all it is very necessary to qualify eligibility criteria before applying for these cash advance loans. An eligibility criterion is as follows:-
1. A borrower must be above 18 years of age.
2. He must be permanent resident of Canada.
3. He must be employed in any Canadian firm since last six months or should have steady income flow.
4. He must have valid address, email id and banking details to carry out loan procedure.
5. He must have active bank account in any Canadian bank.
If you meet above mention eligibility then you can apply for online payday loans with us. Following are simple steps that an applicant needs to follow to apply for online loan:-
Filling Loan Application Form Online
In order to apply for online payday loans, you need to fill online application form available on our website. In that form you need to fill your basic personal and banking details. It is applicant’s prior responsibility to make sure that all the information he is filling in online form must be true and true to his knowledge. It is compulsory because approval and rejection entirely depends on information provided by applicant. Don’t worry about safety of sharing information; we possess secure servers to keep borrower’s personal details secure.
Online Loan Approval after Verifying Eligibility
Our loan approval process is very quick provided applicant meets eligibility criteria. Once application form is received, it is forwarded to network of affiliated lenders to find suitable lender for customer. Once the lender is satisfied with eligibility of borrower he agrees to lend loan. Thus, it takes at most one hour to grant loan approval.
Signing Loan Agreement
After loan approval, lender sends e-agreement to borrower mentioning all loan terms and conditions along with repayment criteria. After thorough understanding of everything mentioned in offer, borrower should electronically sign it and send it back to lender for further cash transfer. To seek other clarification regarding any loan term, applicant can concern our ‘contact us’ section.
Online Cash transfer into Borrower’s Bank Account
After receiving back electronically signed loan offer, loan amount is directly transferred into borrower’s bank account within one business day.
Loan agreement sent to borrower includes all guidelines regarding repayment of payday loan. It is stated clearly stated that borrower is supposed to make repayment before his next salary day. Pay back amount includes initially borrowed loan amount along with interest amount as per annual percentage rate. If borrower finds himself to pay back on due date then it is responsibility to inform lender before time and asks for extension. In some cases, lender may grant extension by charging some late fee. However, borrower should try to pay back in time to boost his credit score.
Disclaimer : Canada Payday Loans Firm is niether a part of any financial institution and consortium nor a lender itself. It is an intermediate platform between payday loans lenders and borrowers. It helps borrowers to get in touch with legal online payday loan lenders all over Canada. It neither provides any loan on its own nor does it take any lending decision as per lending policy of various lenders. If anyone is willing to apply for online short term loans with Canada Payday Loans then, he/she is supposed to fill online application form available on our website. Application filling process merely takes 15 minutes provided you have internet connectivity at place from where you wish to apply. Submitting application form does not ensure any loan approval. Once applicant’s form is received, Canada Payday Loans forward it to list of affiliated lenders in its network. The lenders would then review application form and suitable lender makes decision over amount to be lent. After that, lender send loan offer along with implied interest rates and other loan charges involved. The purpose of sending this offer is to let customers weigh advantages and disadvantages on their own behalf so that he/she can decide that whether to accept or reject loan offer in order to receive needed amount.
Canada Payday Loan as a responsible firm makes sure to provide complete, accurate and up-to-date information regarding short term ending to our customers. Once an applicant agrees upon accepting lender’s offer, he is supposed to provide electronically signed documents with final offer. After receiving back final offer, lender grants loan approval and required funds are transferred into borrower’s bank account mentioned in application form. We or any lender in our network does not put any obligation on any of our borrowers to accept loan offer. We make sure to inform you that some of our lenders might like to review borrower’s credit history to ensure that applicant is qualified for borrowing payday loan and is capable to pay back loan amount along with calculated interest rate within decided time frame. This credit verification does not harm applicant’s credit history in anyway however it is done to reduce to repayment risk factors. In fact, credit history can be boosted if borrowers pay back loan amount in time.
Canada Payday Loan firm possess right to make alterations in any specific part or website as a whole without sending any prior notification to customers or applicants registered with us. All the revisions are active form very moment the changes are implemented so it is visitor’s responsibility to go through our every section very carefully. It is user’s responsibility to agree with our revisions before using any of our services provided on our website.