Online Payday Loans Instant Approval
Get payday loans online up to C$5k within 15 minutes into your account!
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- *All loans are subject to creditworthiness and affordability checks.
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Why a large number of people choose Whizz? Because we brightening their rainy days since 2017. We made online borrowing simpler, faster, and more affordable.
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Borrow $100 to $5k
You are free to borrow as min $100 to max $5000 with long repayments terms.
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In recent few past years especially during the recent pandemic time, online payday loans gained more popularity than before. Now more Canadians feeling the power of these short-term loans and apply for them to fulfill various reasons.
Did you know why? Because such payday loans are instant approved, available online and quickly processed without wasting time. All the above features are not offered by traditional bank loans and that's why people finding payday loans in Canada much better.
Direct lenders of payday loans in Canada also provide numerous offers which favor the borrower's freedom to get a loan at any time. From the first time when fast online payday loans were introduced in the financial market, today, everyone knows its importance, and the industry is well regulated for lenders' and borrowers' interests.
Continue reading below to know more about such online short term payday loans and explore is it right for you or not…
What are online payday loans?
If you are a salaried person like millions of Canadians, then you might face a cash shortage at the time of emergencies. Unpredictable expenses like, car repair, medical bills, important household bills that were must be paid on time, but you have to wait until your next payday.
This condition is not limited to salaried people, but even sometimes financially stable individuals may struggle for funds especially at the end of the month. Some trusted lenders understand this situation and they offer short-term payday loans that help them to get back on financial track.
Payday loans instant online allow their customers to get quick cash and pay off their urgent expenses at any time. Additionally, you can apply for online payday loans in Canada through online mode without leaving the comfort of your own home.
Generally, payday loans are also known as payday cash advances because you can borrow a small amount of money until your next paycheck. Unlike traditional loans, you can borrow these loans from a direct payday lender.
Usually, payday loans online range between C$100 to C$5000 and it might be differing from lender to lender. The repayment date also may vary as per the lender's agreement, but mostly you need to pay back your loan on your next pay date. At Whizzpaydayloans.ca, our lenders offer extensions for payment, but it is good to repay the loan on time.
One of the favorable points for these loans is that such unsecured online payday loans are free from collateral. It means that there is no need to submit your house, car, or any valuable assets as a security against the loan.
How online payday loans work?
As we know that online payday loans provide us a fast way to get cash during urgent financial requirements. But did you know how they work? Let's discuss it!
Online payday loans can be easily obtained with the help of the internet. Unlike bank loans, where you need to stand in the long queues for your turn, you can apply for it from the comfort of your home. These are faxless payday loans and there are no documentation and collateral requirements for loan approval.
To apply for payday loans online in Canada, the borrower needs to fill a small form and submit it for the loan request. The process is fast and within a few minutes of waiting, lenders will make their decision for your payday loan application. If everything correct, you will be funded within 10-15 minutes.
Since instant payday loans online are unsecured and quickly processed, their interest rates might be higher than normal bank loans. Fast online payday loans offer cash ranges from a minimum of C$100 up to a maximum of C$5000, although some lenders provide more privileges to loyal borrowers.
The repayments are based on the due date fixed by the lender and borrower in their loan agreement. Usually, the loan repayment is done on the next payday. When financial urgencies occur than these small payday loans are known as the best money solution which is backed up by many Canadians.
Things you need…
There are some eligibility criteria for payday loans online that you must have to meet and they are:
Age: Payday loans direct lenders offer their loan services to those people who are above 18 years of age.
Citizenship: You must be a permanent resident of Canada with valid Canada address.
Employment: Responsible payday loans direct lenders always need that you must be employed or have a regular source of income (Benefits). Stable income indicates that applicant can pay back their loan on time.
Bank Account: As we discussed above that online quick payday loans directly transfer funds in to borrower's bank account rather than as physical cash. So, you must have an active and valid bank account on your own name to get funded.
Valid Contacts: To get money loans online, you must provide your valid mobile number and email address. These are required for your application verification and also to remain in contact with the lender.
Why choose payday loans online?
There many reasons that makes payday loans an ideal option during all types of financial urgencies. Let's discuss further below:
If your credit score is bad, it is a good choice!
Applicants are not required to show their past credit history to the payday loans direct lenders. It is a good sign for all those people who have an adverse credit profile. If you successfully convince your payday lenders with your source of income that you can afford your loan repayments, then you can easily get approval.
If your bad credit history is the main hurdle and due to this, you face declined for bank loans every time, it's time to consider online payday loans for bad credit.
Lots of payday lenders available
Unlike traditional loans, payday loans online are fast enough to provide cash as soon as possible. These features make such loans more popular among people; hence, you can see hundreds of payday lenders over the internet. You can choose them to get online fast loans for various reasons, some are mentioned below:
- To cover urgent medical expenses,
- Unexpected debt that you must payback urgently,
- Your pending Mortgage repayment,
- To improve your poor credit score,
- Paying back household expenses bills,
- To reduce extra financial burden until next paycheck,
- Covering the festive or holiday expenses and,
- Any condition where small amount of money required.
No restrictions on your loan spend
There is no need to mention your loan purpose when you are applying for easy payday loans. Many financial institutions in Canada make it mandatory to show the purpose of your loan. On the other hand, payday loan lenders respect the privacy of borrowers and do not want to know where you spend your money. They are only wanted to know that you can pay back your loan, or not.
They are fast and short term
Most of the short-term payday loans offer 30 days of repayment time so, you can put off the loan burden from your shoulders easily. Some people consider long-term payday loans as a better financial source, but there is a problem that you always need to think about loan balances to pay.
On the other hand, if you think deeply, you will find out that you save money on your interest with short-term loans. Unlike long-term loans, you just need to pay off interest once for your 30 days short-term loans. It saves huge money that you pay in the form of interest for several years.
No or less documents required
As we all know that traditional banks require lots of paperwork and document verification for loan approval. They require your credit score and bank statements for income verification. For some bank loans, you might need to submit collateral.
However, with payday loans instant approval online, you just need to provide your general details like bank details, Citizen identity documents, and proof of income. Once you submit all the details, your loan will be approved by the lender and within few minutes, money will be credited to your account.
Being employed is not necessary
With traditional loans, you must be employed with a good salary or have a business. It is compulsory because traditional lenders required loan security. If you are unemployed or doing a low-income job you might not be accepted for a loan by traditional insinuations.
Usually, with fast payday loans online, they only want that you earn a source of income, whether it is your salary, freelance work, or government benefits. If you can afford your payday loan repayments on time, you will get approved instantly.
Top 5 Reasons to say "YES" for payday loans!
There are many situations arrived in our life that turn us toward payday loans online. Some most usual reasons are mentioned below in which such short term loans helps a lot:
To cover pending bills: We all have daily or monthly bills like utilities, house rent, credit card bills, and much more. But what if you aren't able to pay them? Be ready, you might go soon into financial trouble. Luckily, instant approval of payday loans online can help you to stay at the top financially, and save you from the debt cycle.
To deal with emergency expenses: Life is full of uncertainty, but what if emergencies happen and you need urgent funds? Your car might be a breakdown, your house needs immediate repair, or a medical emergency occurs. Whatever the situation, easy online payday loans are here to provide you fast cash to pay all those emergency expenses.
You not get a bank loan: Due to sticker rules for traditional bank loan approval, you might be declined. You must have a good credit score and the procedure for obtaining bank loans is much lengthier. Instead of it, you might apply for a quick payday loan online when all other forms of credit disapprove of you.
Buy something fast: Occasionally, there are many shopping sales and offers coming where you can save hundreds and thousands of dollars, but what if you don't have money? You must have funds to grab the deals that save your money. In this situation, online money loans like payday loans help you get funded until your next payday.
You not want to borrow from family or friends: Asking for money from your family or friends endorsed the feeling of shame, especially if you have already borrowed money many times from them. It might damage your relationship if you do not pay back on time. Don't be shamed, apply for a payday loan online and deal with all your financial matters.
Ready to get started?
Apply online, get instant decision, and if approved, access up to $1,500 or more.