Magical Credit Offers Fixed Installment Loans to British Columbia

Looking for comprehensive installment loan solutions in BC? Take advantage of Magical Credit’s personal installment loans for bad credit applicants! It takes just 5 minutes to apply!

Magical Credit is licensed to operate in British Columbia as a high-cost lender. Our lending license can be found here.


Installment Loans In British Columbia

If you need some financial assistance with rising rent or other costs of living in British Columbia, Magical Credit’s installment loans come with the convenience of easy installment payments.

Don’t bother with credit card cash advances or payday loans – they’re littered with hidden fees and surcharges. Our BC installment loans have a fixed interest rate of 3.9% per month – we don’t believe in surprise fees or fluctuations!

If you need a little bit of help – and can do without the hassle it usually comes with – apply for a personal installment loan in BC in just 5 minutes online!

Our easy-to-use calculator schedules your installment loan payments, so you’ll stick to your budget.

I want to borrow:


When Should You Consider an Installment Loan in BC?

  • Auto repair – Commuting on The Island Highway? Cruising through the backroads of Nelson? Either way, a functioning vehicle is essential to your lifestyle. Just like your mechanic will fix a broken-down car, Magical Credit will fix broken-down finances!
  • Vacations – Your weekend foray to Seattle won’t be so relaxing if you’re one Starbucks Grande away from overdraft. Take out a bad credit installment loan for fast cash so you’re not sweating money during your much-needed R&R.
  • Home Repairs – Your last mortgage payment thinned your finances like an old man’s hairline. If your dryer explodes, repair costs will be one step closer to bankruptcy. Our installment loans are approved in one business day, so unforeseen emergencies can be dealt with quickly!
  • Job Interview – They may be all you can afford, but your ripped skinny jeans and Nirvana t-shirt won’t impress at your job interview. Magical Credit’s bad credit loans for low income applicants offer quick cash, so you can pay for the outfit that makes you look the part!

Installment Loans in BC - FAQ

What am I paying in interest if I take out an installment loan in BC?

Magical Credit’s interest rate is 3.9% monthly for all of our installment loans.

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?

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 installment loans available in Vancouver, Victoria and all other parts of BC?

Yes… and that’s the same for all of Canada – minus Manitoba and Quebec. Sorry!

Consider applying for an installment loan in BC, 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!


Magical Installment Loans: We offer installment loans in the amount of $1,500- $20,000 that have a 12-60 month term with an APR 19.99% min - 46.8% max. On $1,500 borrowed for a 1 year term at 3.9% per month, the total cost of borrowing including a $194 fee is $896.00. The total amount to be paid back with interest and fee is $2,396.00. AB License #349796 and BC License #83626

NOTE: Our installment loans are open, so 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.

Magical Cash Loans - Ontario, British Columbia, 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 $15.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $150.00. The total to payback is $1,150.00 which is an annual percentage rate of 391.07%. ON License #4741412. BC License#85919.

The 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 will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.

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