Magical Short-Term Loan Calculator
Do you require a short-term loan, but aren’t clear on the loan repayment terms?
Don’t sweat it! Use our loan repayment calculator below to figure out your monthly payment schedule, which is based on:
- The amount you need to borrow
- The duration of the repayment period
How It Works:
Our loan repayment calculator is as simple as it looks! There are only two things you need to do to figure out the details of your cash loan:
1. Drag the green bar to the amount of cash you're looking to borrow.
2. Choose from our two payment terms in the drop-down menu.
I want to borrow:
For more information about our cash loans, please refer to our FAQS.
If you need an urgent short-term loan from $1,500 to $20,000, apply online today! You can get approved and get your loan the same day.
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.
