Apply for An Online Loan In PEI - it takes just 5 Minutes!

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Need Money Fast in PEI? Apply for a Cash Loan Online

Ditch the paperwork, the endless queues, and the snooty bank tellers turning their nose up at your bad credit. It’s time to enter the 21st century, and take out your cash loans online!

Magical Credit offers online loans for bad credit applicants. We use a bank standard, 128-bit SSL encryption, ensuring your private information is protected at all times. No matter where you live in PEI, you can apply for an online loan at the click of a mouse.

So, what are you waiting for? Get approved for an online loan in as little as 5 minutes!

Need an online loan in PEI? Keep up with the loan repayment terms, and calculate your monthly loan payment schedule with our short-term personal loan calculator!

I want to borrow:

< $2000 >
$2,000
Min
$10,000
Max

Why Get an Online Personal Loan in PEI?

  • Pet CareIf your little furball falls ill, the vet bill will be another beast of burden. Visit Magical Credit and apply for a loan – it’ll only take 5 minutes to get the funds needed to nurse your beloved family pet back to health.
  • Moving ExpensesMoving homes means you’re strapped for cash and strapped for time, and a lengthy loan approval process just won’t cut it. Magical Credit’s online loans will quickly cover the costs of moving when you need money fast!
  • Weddings Turn your dream wedding into a reality. An online cash loan can help cover the cost of big-ticket items such as the venue, catering, and wedding rings.
  • TravelFrom life changing trips to Thailand, to R&R at a resort in Cancun, sometimes you need to get away. If you’re low on cash and have bad credit, an online loan from Magical Credit can get you where you need to go—anywhere in the world.

FAQs - Bad Credit Online Loans in PEI

Are your online loans secure, or just a scam for my information?

Client privacy and security are our top priorities. We operate with 128-bit encryption, the same as bank-level security. Our website is also monitored and verified by Verisign, the highest level of online site security.

I need $500. What is the minimum I’m allowed to borrow?

Our online cash loans start at $500. We loan up to $10,000.

What do I need to apply?

To apply, you need the following:

  • Be 18 years or older
  • Valid chequing account
  • Proof of income
  • Valid ID
  • SIN
I'm working part time, will I be considered for an online personal loan?

Yes—Magical Credit accepts traditional and non-traditional sources of income. You must collect a minimum of $600 per month through direct deposit.

Do I need to fax any documents?

No, any documentation required is sent online.

What interest rates do you offer?

We only offer one interest rate. It’s 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
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.