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Installment Loans In Alberta

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.

I want to borrow:


What Installment Personal Loans In Alberta Can Do For You

  • Auto Repair – Your car could break down on Highway 2, or your tractor could tip over on your farm in Okotoks. Either way, you’ll need quick cash, and Magical Credit’s personal installment loans in Alberta can aid in fixing malfunctions on city main roads or country back roads.
  • Recreation – Don’t miss out on the Calgary Stampede, or an Oilers vs. Flames grudge match! Bad credit installment loans in Alberta allows you to support your team (as long as it’s not the Leafs).
  • Home Appliance Repairs – Banff winters and an overpriced paperweight disguised as a furnace don’t pair well with a baron bank account and bad credit. Luckily, Magical Credit specializes in low-income, bad credit loans in Alberta, so you don’t freeze your fanny or funds.
  • Debt Consolidation – When calm western Chinook winds suddenly transform into a whirlwind of numerous debts, apply for an online installment loan from Magical Credit. Suddenly, you’ll only have one debt to worry about, and you’ll no longer be in the eye of a debt hurricane.
  • Medical – Employee benefits don’t always cover chiropractic costs, especially when you busted your back thinking you were the Stampeder’s QB in weekend warrior pickup grid iron. You can’t afford to miss work, so installment loans will help get your spine realigned for the office on Monday.

Installment Personal Loans In Alberta - FAQ

Are there any benefits to getting an installment loan in Alberta?

Yes—and they are as follows:

  • A 3.9% monthly fixed interest rate mean surprise-free installment payments
  • Unlike Credit Card cash advances or paydays loans, there are no hidden fees or sneaky surcharges
  • Smaller, more affordable monthly payments are simple to keep up with
  • The approval process is instant
What’s required for a person installment loan in Alberta?
  • Social Insurance Number
  • Option 1: Read-only access to your bank statements through Instant Verification.
  • Option 2: Upload your Bank Statements.
  • Proof of Income
  • ID
I notice you suggested personal installment loans for recreation, would this be a responsible choice if I already have bad credit?

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.

Can I be approved for an installment loan if I’ve gone bankrupt or defaulted on a previous loan?

Only if your bankruptcy has been discharged, but not if you’ve previously defaulted on a loan.

Can I still apply for bad credit installment loans in Calgary?

Apply online anywhere in Canada (other than Manitoba and Quebec)!

Why should I apply for an installment loan in BC if I have bad credit?
  • Fixed interest rates of 3.9% a month – predictable payments
  • No hidden surcharges
  • Easy-to-make small monthly payments
  • Next-day loans mean instant approval
What do I need to apply?
  • Social Insurance Number
  • Option 1: Read-only access to your bank statements through Instant Verification
  • Option 2: Upload your Bank Statements
  • Proof of Income
  • ID
Can I still get a personal installment loan in BC If I earn a low-income and have bad credit?

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.

Can I get BC loans if I’m currently bankrupt or I’ve defaulted on a loan?

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.

Are Magical Credit’s bad credit loans available in Vancouver?

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.

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