If You Live in Saskatchewan, Leverage a Loan with Your Child Tax Benefit!

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Child Tax Benefit Loans in Saskatchewan

Raising a child in Saskatchewan can be financially draining.

According to StatsCan, it costs $250,000 to raise a child until they’re 18! Without borrowing some money along the way, that next birthday present could be the final straw that broke your bank account’s back!

Sadly, banks are picky with their applicants, and payday lenders are glorified loan sharks.

But you’re in luck! Magical Credit offers childcare & child tax benefit loans in Saskatchewan to low-income applicants with bad credit. You can leverage your monthly child benefit payments into loans of up to $10,000!

So, you found a lender who accepts child tax credits, but you’re not sure you can keep up with the loan repayment terms. That’s okay, just calculate your monthly loan payment schedule with our personal loan calculator!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why Get a Child Tax Benefit Loan in Saskatchewan?

Dentist – Saskatchewan offers homegrown beef and produce, yet your children mostly eat candy – racking up cavities and an earth-shattering dental bill. Use a child tax benefit loan in Saskatchewan to cover your child’s dental expenses.

Camp – Day camp is an expense worth it for both your children, and your mental well-being. They’ll have a summer full of fun. You’ll have a summer without them. Leverage your child tax benefit to take out a personal loan in Saskatchewan!

Afterschool Care – You can’t keep leaving work early to look after your children when they’re done school, or else it won’t be your work anymore. If you’re light on funds, take out a Magical Credit loan, and budget for a babysitter.

Appliance Repair & Replacement – You want to feed your kids, and you can’t do it adequately without a working oven – lest they eat Cinnamon Toast Crunch every meal. Take out a loan, and have your malfunctioning oven fixed.

Child Tax Benefit Loans in Saskatchewan FAQs

Do you accept poor credit applicants for your child tax benefit loans?

Yes, because we don’t weigh potential loan candidates based on credit score. By receiving at least $600/month via direct deposit, you can be eligible for a loan on your child tax benefit.

Do you consider unemployed applicants for your child tax benefit loans?

Yes—we accept traditional and non-traditional forms of income (via direct deposit).  You can be accepted for cash loans on child tax credits, EI, CPP, and income from pensions or maternity benefits.

What’s the most I’m allowed to borrow?

The most you can borrow is $10,000. The least is $500.

What do I need to apply?
  • Be 18 years or older
  • Valid chequing account
  • Proof of income
  • Valid ID
  • SIN
Do child tax benefit loans have a lower interest rate?

No, they do not— our interest rate is 3.9% a month for every Magical Credit loan.

Do you offer your bad credit loans in Regina?

Yes—Magical Credit is proud to be a bad credit lender for all of Canada, other than Manitoba and Quebec.


Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
Loan Example
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty.
You will only pay interest up to the date you borrow it.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.