Get a Personal Loan in Saskatchewan – Even If You’re Unemployed

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Unemployment Loans in Saskatchewan

Your average weekly EI payment is 55% of what used to be your insurable weekly earnings. Between bills, groceries, and car payments, that’s not enough cash to make ends meet.

Fortunately, Magical Credit offers Saskatchewan unemployment loans to cover any lingering expenses.

If your unemployment has caused a financial hiccup that’s damaged your credit, our unemployment loans are designed for bad credit applicants!

Unsure you can keep up with the unemployment loan repayment terms? Take a peek at what your monthly loan payment schedule will look like with our personal loan calculator!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

How Can Unemployment Loans Help You in Saskatchewan

Interview Clothes – Do you have a promising job interview near your home in Saskatoon, but need some extra cash for a killer outfit? No problem! You can take out a bad credit loan in Saskatoon, so you can afford to look the part.

Professional Development Classes – It’s always good to brush up on skills when you’re in between jobs. Courses can be pricey though, and our loans can guide you through your latest educational journey.

Internet/Mobile Plans – Let’s get serious, you aren’t getting hired in this century without the internet. If you can’t afford your WiFi and mobile plans anymore, take out an unemployment loan and stay connected!

Gym – Healthy body, healthy mind. But are the gym fees too steep because you’re jobless? Take out an unemployment loan, so you’ll be in peak physical and mental condition at your next interview!

FAQs for Unemployment Loan in Saskatchewan

Does unemployment hurt my loan eligibility?

Not at all! By collecting any source of income- such as government subsidies (e.g. EI and baby bonuses) and incomes from private insurers, you’ll be considered for our loans.

Will I be considered for a loan if I’m unemployed AND have bad credit?

Yes—in fact, we like to think of ourselves as Canada’s high-risk lenders. We don’t weigh our loan applicants solely off of credit scores. We take factors like current loans in collection and your overall report of credit into account.

What are the repayment terms you offer?

Between 12 and 24 month terms.

What is the least that you will lend?

We lend $500 minimum and $10,000 maximum.

What’s your interest rate for unemployment loans?

We offer a 3.9% fixed monthly interest rate for all of our loans.

What do I need to apply?
  • Be 18 years or older
  • Valid bank account
  • Proof of income
  • Valid ID
  • SIN

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.