Online Loans Canada
Loans are useful tools that help many Canadians through difficult and unexpected situations. Sometimes, applying for a loan in person can take too long and just isn’t practical. That’s where online loans Canada come in — providing fast financial assistance from the comfort of your home, with no credit check required and funds deposited within 24 hours.
Who Is Cash Depot?
Cash Depot is an online financial services provider offering a variety of short-term instant loans. With over 12 years of experience, we have become a leading financial institution in Québec and across Canada.
Our goal is to provide you with fast and easy access to loans to get you out of debt. Our innovative online lending system simplifies the process down to just three steps:
- Complete the application form
- Sign the loan contract
- Receive your funds
How Do Online Loans from Cash Depot Work?
Unlike regular loans, our online loans Canada require few documents and no credit checks. This makes the approval process a breeze. All you have to do is complete our online form and fax in the required information. You can expect to receive your funds within 24 hours — or the same day if you apply before 11 am Eastern Time.
Instead of credit checks, we accept your salary statements as proof that you can repay the loan. Loans range from $300 to $3,000.
Get Your Online Loan Today!
Qualifying & Applying for an Online Loan
To make cash advances accessible for everyone, we’ve cut down on our qualifying requirements. Here is everything you need to know before applying.
Eligibility Requirements & Documents
To qualify, you must:
- Have a valid chequing account for 3+ months
- Be employed full-time for 6+ months
- Have the same residential address for 6+ months
- Receive income by cheque or direct deposit
- Not be in bankruptcy or have wage garnishments
Documents to fax:
- Two ID photos and your SIN
- Utility bill or proof of address
- Two most recent pay stubs
- Voided cheque / pre-authorized debit form
- Bank statement covering the last 90 days
Repayment Terms
We offer up to six months for repayments in monthly installments or a single lump sum. Our interest rate is 18%, and you must repay your previous loan before applying for a new one.
Any refused bank payment (e.g. insufficient funds) costs $40. If you need to delay a payment, contact us at least 48 hours in advance for an extension — also $40 and it won’t affect your credit score.
What Services Do We Offer?
We’ve all had to deal with urgent payments at some point. When you can’t rely on the bank, our online loans Canada provide instant financial relief. We have a variety of cash advancement types to choose from.
Payday Loans
Designed to help you pay off unexpected expenses every month. We offer up to $1,500 instantly, and you only need to make your first repayment when receiving your next paycheque. Available as standard payday loans and e-transfer payday loans across Canada.
Bad Credit Loans
A credit score approaching 300 can see financial institutions deny your loan request. When this happens, our bad credit loans can still assist as we only require proof of employment and residence — no credit score review.
Credit Consolidation
This flexible debt solution offers a single loan to settle multiple payments. You still have only one monthly repayment, and it doesn’t affect your credit score. Ideal for anyone juggling multiple creditors or credit card balances.
