FAQ’s
Payday Tree Frequently Asked Questions
What is Payday Tree?
This is Canada’s biggest and leading loan comparison website. You can browse our paydaytree.ca website and choose from several leading loan providers in Canada. PaydayTree offers free-of-cost loan comparison services and with us, you can compare loan products, their interest charges, rates, fees, eligibility requirements, and terms from a wide range of leading loan providers across the country.
How can you help me find a loan?
PaydayTree is Canada’s online loan directory where you can find details of any type of financing available in Canada. PaydayTree will help you connect with the leading loan providers listed on our website. By using loan comparison tools and calculators you can easily search, compare, and find the most suitable loan deal for your needs. Once you select the loan company you want to connect with, you can start the application process with them entirely online. In just a few clicks, we will let you find many of Canada’s leading loan providers all in one place.
Is it safe to search and compare loans on Payday Tree?
We take pride in being Canada’s most trusted source of information about e-transfer payday loans 24/7 and Canada’s best financial companies. All your personal information is safe and confidential with us under our Privacy Policy Act.
Are lending companies listed on Payday Tree safe to deal with?
Yes, absolutely. We research, review and qualify all loan providers that are featured on PaydayTree. We are committed to superb product offerings, customer service, responsible lending practices, transparency and safety for all Canadians.
What type of financial companies can I find on Payday Tree?
With us you can browse, compare and choose from over 100 leading financial companies. All companies listed on our website have been carefully reviewed to ensure transparency, safety and the best loan options for all Payday Tree visitors. With us you can easily find several loan providers that offer different financial options like faxless payday loans, installment loans, loans for low credit and more.
Why choose Payday Tree to find loans?
Payday Tree is the go-to destination to search, compare and find loans from many innovative financial companies. Users of this website can easily find a number of financial products in a convenient and safer way for their needs. With us, Canadians can easily compare a number of financial options online, in just a few clicks of mouse, from their home comforts.
Payday Loans Frequently Asked Questions
What is a payday loan?
This is a e-transfer payday loan with no refusal, provided for a period of 14 to 30 days. It is designed to meet your unexpected expenses or any financial emergencies between pay periods.
How much can I borrow?
The amount of money you can borrow entirely depends on the type of loan you are applying for, the purpose of taking up the loan and your individual financial situation.
How much interest is charged on a payday loan?
Payday loans are considered an expensive financing option. The cost of a payday loan varies from lender to lender, but the interest rate on such a loan is generally high as it is provided for a short span of time.
How do I apply for a payday loan?
You can apply online and receive funds directly into your bank account. This can be done at whatever time works best for you. The online loan application is quick, easy and hassle-free.
Do I need to apply for a payday loan?
- At least 19 years of age.
- Steady source of income.
- This could be employment, EI, CPP or even a pension.
- Active Canadian bank account that can accept e-transfers.
- Whether you’re with a national bank or a local credit union, it’s all fine.
- Being a resident of Canada. From Vancouver to Vaughan, Calgary to Coquitlam, PaydayTree.ca is for you.
Personal Loans Frequently Asked Questions
What to keep in mind while applying for a personal loan?
When you select a personal loan or any other financing option, just make sure to take the time to understand all the details of your terms and agreement. You need to be sure about taking up a loan amount that you can easily afford to repay on time.
How long does it take to get a personal loan?
Most lenders featured on personal installment loans can deposit the loan directly into your account within 5 to 6 business days. This may take longer if there is missing or incomplete documentation.
What are the minimum requirements to qualify for a loan?
Qualifying for a loan varies from lender to lender and the type of loan you have chosen. Explore the various lenders listed on our website to see exactly what their eligibility requirements are. Typical requirements to qualify for a loan include having permanent Canadian residency, having a legal age of 18 years or above, having a valid active bank account and a regular source of income.
What information do you need from me to find the best personal loan deal?
In order for us to help you find a suitable lender, you will need to provide some basic personal information like your name, email, location, phone and your physical address. You will also be asked to provide specific details like employment and finance.
I have a bad credit rating. Do I still qualify to find a personal loan?
Yes, without any doubt. Many of the loan providers listed on our website are able to help people with less than perfect credit ratings to find the right personal loan deal. Just keep in mind that having a low or bad credit score will have an impact on interest rates that you might be charged. Please review your loan agreement and terms carefully before taking out a loan.
Installment Loans Frequently Asked Questions
What are installment loans?
An installment loan is the best form of financing for those who cannot repay their loan altogether. This loan can be easily and conveniently repaid with a fixed payment system, also known as installments, over a period typically much longer than payday loans.
What is considered an installment loan?
A fixed amount of money that you borrow and then repay in small and equal installments, at regular intervals, for a specified period of time is considered an installment loan.
Are installment loans the same as online payday loans?
Both installment and payday loans involve small borrowing amounts, but their repayment structure differs. While e-transfer payday loans are typically paid back in lump sums on an agreed upon date, usually on the borrower’s next payday, installment loans can be repaid over time in small and regular installments.
How can one be approved for an installment loan?
To qualify for such a loan, you need to show proof of your regular income, have permanent Canadian residency at a legal age of 18 years and a valid bank account in your name. You will also need to represent your valid email address and contact details.
How long does it take to approve for a loan?
The entire process from applying to receiving your cash can take a few business days. However, this is subject to change based on lenders, banks and volumes.
How do I find out the status of my loan application?
You will receive a response from the lender either on a call or in your email at the earliest in a few hours or a day.
What could be the reason for the loan application denial?
If you receive a notification that your application has been declined or rejected, it could be one of many reasons. This may have happened because of sending incorrect/ inaccurate information. Another reason for loan denial could be because if a chosen loan doesn’t suit your specific requirements. Reach out to the lender to find out why.