Follow Three Simple Steps To Get An Instant Loan Online!
At Magical Credit, we don’t believe in making our clients jump through hoops to qualify for a loan. We approve our clients based on their fixed monthly income – that’s it! We specialize in offering bad credit personal loans, and loans to low-income earners, including people on government subsidies and pensions. We like to keep it simple, and give our clients the cash they need, fast. Our application process is simple and only takes a few minutes of your time.
Step One! Determine If You Qualify.
Unlike banks, Magical Credit doesn't have a laundry list of requirements to qualify for a cash loan.
Do you qualify for a Magical Credit loan? Ask yourself these questions:
- Do I have a fixed monthly income (Learn what types of income qualify)?
- Is my income deposited directly into my bank account?
- When I've taken out payday loans in the past, have I paid them off?
If you answered YES to all three of the questions, then you're a perfect candidate for a Magical Credit low-income loan! But if you’re unsure or wary about paying back the monthly installments, visit our loan payment calculator! The short-term loan calculator can help you quickly determine your average monthly loan repayment figure.
Step Two! Submit An Application.
We hate the long, tedious applications on loan websites. Our application process is simple and straightforward. Filling out our instant loan application is quick and easy.
Once you've submitted your application, Magical Credit accesses additional information directly from the Instant Bank Verification. We'll send you confirmation if your loan has been approved or declined within one business day.
Step Three! Get Quick Cash!
Once you're approved for an instant loan, abracadabra, the funds will be deposited directly into your bank account for you to spend however you wish.
Disclosures:
Magical Installment Loans: Installment loans are available to eligible residents of Ontario and range from $1,500 to $20,000. Repayment terms range from 12 to 78 payments, with flexible payment schedules available as weekly, bi-weekly, semi-monthly, or monthly.
Example: A $5,000 loan repaid over 36 monthly installments would require payments of $300.40 per month.
NOTE: Loan amount and payment amount are subject to change upon final loan approval. Interest rate for Personal Loans is calculated at 34.86%. The Repayment amount includes optional Loan Protection Plan coverage.
Magical Cash Loans - Ontario, British Columbia, Alberta, Northwest Territories, Nunavut, and Yukon Residents only: We offer Magical Cash Loans in the amount of $100-$1,500.00. The cost of borrowing is $14.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $140.00. The total to pay back is $1,140.00, which is an annual percentage rate of 365.00%. ON License #4741412. BC License#85919 AB License#358423.
The Loan must be paid in full by the end of the term, with no extensions or exceptions, and no automatic renewals. Failure to pay your debt on time will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.
