In this world of 21st century you have the boon of internet that can connect you to any lender and save you from a financial crisis. Small cash loans in Canada are one such type of financial help through online support. Be it the purpose of consolidating your debts or meeting a sudden medical emergency or even paying for your movie tickets, this proves to be the best option that you can opt for. This is a very easy and time saving process and you will get all the notification through email or phone. Once the application is made you will get your money transferred in just no time.
Type Of Cash Loans:
Basically these small cash loans in Canada can be broadly categorized into two kinds-secured and unsecured.
Secured:
In order to get a secured loan one has to keep a collateral security such as home, car or fixed deposits. If you fail to repay on time then the lender will have the right to seize your property for the unpaid amount.
Unsecured:
These are higher risk cash loans and the lenders may charge high rate of interest and a shorter repayment period. This is so because the borrower does not have to maintain any collateral security. These types of loans are usually offered to online borrowers devoid of any credit proof. With a range of $100-$1000 these loans are very quickly available. The money gets transferred to your bank account within 24 hours.
3 easy steps for application
These loans prove to be a boon in the time of an urgent situation and crisis. So these are the easiest ways to get it approved in just a short while.
Shop and compare: Your first step to get a loan is to shop around and get the idea of the different rates that are offered by different lenders. Public banks are good options as they already know your details and would be ready to offer you less interest rates. However you should not forget to visit other online lenders and get well informed.
Get hold of your income proof: Make sure you have some documents to prove that you have the capability to pay back on time. This will ensure you with a fast service. Your documents may include your tax returns or stock or pay stub.
Fill out the application form: You will have to provide your personal details, contact information, income proof, social security number and of course the amount of loan that you want to apply for. Once you provide these details to your financial institution. They will verify them and then grant a loan within a period of just one day.
However these small cash loans are an option in the time of sudden crisis. So this can’t be a permanent solution for your financial problems. You should have the habit of saving and paying your bills on time and avoid these litigations. Always take time to plan your budget and then apply for your cash loans.
