If you’re located in the Nunavut territory in Canada, Magical Credit accepts a wide variety of income sources from the federal (Canada) and provincial (Nunavut) governments. We also accept private fixed income sources, such insurance or pension payments.
Below are some of the most common types of government income received by residents of Nunavut. Each of these types of income may qualify you to receive a cash loan of between $1,500 and $20,000. For additional qualifications, please read more about how our loan process works.
Please note that this list is not comprehensive. We accept most types of fixed government income that are received on a monthly basis. If you are unsure if your Nunavut government subsidy or fixed monthly income qualifies you to receive a cash loan from us, please call us at 1-855-639-6888.
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.