Alberta may be the employment hub of Canada, but life can fire 125mph slap shots in your direction when you least expect it. Unfortunately, we don’t have the benefit of Connor McDavid’s salary to repair the residual damage.
Fortunately, Magical Credit’s personal installment loans in Alberta for low income applicants provides the quick cash in Alberta when you need it.
Best of all, our installment loans are available at a fixed, steady interest rate of 3.9% monthly! You don’t need to ruin your credit by filling out loan application after loan application, or subject yourself to being fleeced by payday loan companies
Not sure about keeping up with your loan repayment schedule? Our short-term, personal loan calculatorcalculates your installment loan payments, so you’ll stick to your budget.
Yes—and they are as follows:
Taking on various forms of debt displays diversity in your portfolio and restores creditworthiness, provided your loan repayment is prompt. Don’t spam loan applications in search of a loan, and make sure you apply where your chances for approval are high, because multiple loan rejections will negatively impact your credit score.
Only if your bankruptcy has been discharged, but not if you’ve previously defaulted on a loan.
Apply online anywhere in Canada (other than Manitoba and Quebec)!
Yes—earning a traditional or non-traditional source of income makes you eligible. Unlike most lenders, Magical Credit caters to bad credit, low-income loan applicants. We weigh overall report of credit, opposed to credit score.
No— only if a bankruptcy has been discharged can you get an installment loan. We won’t loan to applicants who’ve previously defaulted on a loan.
Yes… and that’s the same for all of Canada – minus Manitoba and Quebec. Sorry!
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 6-60 month term with an interest rate of 3.9% per month.
Example: $1,500 borrowed for one year at 3.9% per month. Monthly payments are $199.67. Total payback with interest and fee of $194.00 is $2,396.00.
NOTE: You can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.