Magical Credit’s short-term personal loans are Ontario’s solution to financial dire straits. We offer lower interest than payday loans and credit card cash advances, with one fixed monthly interest rate (3.9%), meaning no surprise fees or surcharges.
Magical Credit’s 24-hour-loan approval for low-income, bad credit applicants means no more pointless visits from bank to bank, no spamming applications and ruining your credit, and no stress.
What it does mean is cash in your pocket when you need it fast!
Calculate your risk-free, personal loan payments with our short-term loan calculator!
Magical Credit’s low interest, personal loans in Ontario has a fixed 3.9% monthly interest rate, while payday loan companies charge up to $30 for every $100 you borrow, certifiably raking you over the coals.
We’re unable to directly consolidate your debt, but it’s possible to take out a bigger personal loan from Magical Credit to cover your smaller debts.
Yes— qualifying for a personal loan in Ontario requires a 6-month period of employment.
No—our system enhances your privacy and security, and operates at 128-bit encryption- bank level security. Verisign – the highest level of online security – monitors and verifies our website.
Magical Credit offers 6-60 month terms for our loans. Use our short-term loan calculator to calculate your bad credit, personal loan payment schedule.
Manitoba and Quebec are the only two provinces where we don’t offer loans. So yes—you can apply for a low-income bad credit personal loan in Ottawa.
Yes—personal loans are a great way to acquire quick cash if you don’t have a credit card. You do need a bank account to apply however, as our loans are done by direct deposit.
You can still be approved for a personal loan, as we specialize in loans for bad credit, as well as low-income personal loans!
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 a 12-60 month term with a fixed interest rate of 3.9% per month.
Example: $1,500 borrowed for one year at 3.9% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.
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.