Magical Credit offers Bad Credit Installment Loans in Newfoundland. Apply Today!

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Installment Loans in Newfoundland

Whether you’re in St. John’s, Labrador City, or Mount Pearl, a personal installment loan from Magical Credit can help you keep up with the rising costs of living in Newfoundland.

Our installment loans have a fixed monthly interest rate of 3.9%, so you won’t be financially blindsided and you can plan your budget accordingly!

Our short-term, personal loan calculator schedules your installment loan payments, so you’ll stick to your budget.

I want to borrow:

< $2000 >

When to Apply for a Personal Installment Loan in Newfoundland

Auto RepairYou may spend a lot of time on your boat, but you still need your car to get around on dry land. If your sputtering engine has you worried, but you’re low on funds, take out an installment loan from Magical Credit to cover the auto repair costs.

VacationsYou’ve sailed every shore, eaten every piece of sea food, and drank at every pub Newfoundland has to offer. It’s time to explore somewhere else. Low on funds? Magical Credit’s simple installment payments will make your exotic getaway easy to pay off!

Job InterviewThe fish stopped biting, so you’re transitioning from the shark filled waters to the corporate shark tank. If you need some extra cash to dress the part, an installment loan will have you looking like the captain of industry you aspire to be!

Debt ConsolidationA litany of consumer debts will drive you to the madhouse. Take out a Magical Credit loan for debt consolidation and Newfoundland, so you’ll only have to focus on one easy-to-track, monthly installment payment.

Installment Personal Loans in Newfoundland - Frequently Asked Questions

What advantages are offered by taking out an installment loan?


  • Fixed interest rates mean predictable monthly payments (Ours is 3.9% monthly)
  • No surcharges or hidden fees
  • Small affordable monthly payments are easy to make
  • Instant approval process



I earn a low income and have bad credit. Can I still get a personal installment loan online?

Yes—we’re a high-risk lender. We specialize in loans for bad credit applicants and low-income households. We don’t weigh our loan candidates based on their credit score – we look at factors such as overall report of credit, discharged or current bankruptcies, and loan repayment history.

Can I take out a loan for $740? That’s how much my car repair costs!

Yes, we offer loans anywhere between $500-$10,000!

Can I still apply Magical Credit’s installment loans in Cornerbrook?

You can apply online anywhere in Canada, other than Manitoba and Quebec!

Can’t I just take out a payday loan?

By taking out a payday loan, you could be taking on an interest rate of $30 per $100 borrowed. Magical Credit only charges a fixed interest rate of 3.9% monthly.

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
1 Year
Interest Rate (46.8%)
Total Cost of Borrowing
Total Due End of Term
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.