What are No Credit Check Installment Loans?
As the name suggests, no credit check installment loans are fast cash loans that do not require a credit check. This means that you can get a loan even if you have bad credit or no credit at all. You only need to fill out a simple application form, and you can have the money in your account in as fast as 24 hours.
No credit check installment loans are a type of unsecured, short-term loan that is usually used to cover an unexpected expense. You can use the money you get from no credit check installment loans for many things, including paying for medical bills, repairing a broken appliance, or buying a gift for a friend or family member.
Basic Requirements to Qualify for a No Credit Check Installment Loan
In order to qualify for a no credit check installment loan, you must be at least 18 years old and above. In addition, you must be a Canadian citizen or a permanent resident with an active bank account. You also need to have a steady source of income to demonstrate that you are capable of repaying the loan. Installment loans are unsecured a loan, which means that you don’t have to provide any collateral as security for the loan.
Companies That Offers No Credit Check Installment Loans in Ontario
For the past few years, the number of companies that offer no credit check installment loans in Ontario has increased significantly. Here are some of the companies that you can choose from if you are looking for some quick cash in Ontario:
Better Than The Bank
Better Than The Bank is a famous Canadian loan provider that offers no credit check installment loans in Ontario. Their loans range from $100 to $1,500, with loan maturity dates is in between 1 month to 6 months. Their interest rates range from 30% to 32%.
Simply Cash
Simply cash offers Ontario residents with no credit check installment loans of up to $2,500 with a repayment period of up to 24 months. Depending on the amount borrowed and the repayment term, they charge an interest rate of 35% to 59% per annum.
Dash Loans
Dash Loans is an Edmonton-based lender that offers installment loans without credit checks in Ontario. They have an APR of 18% to 32% with a repayment term of 90 days to 120 days. You can get no credit check installment loans from Dash Loans ranging from $300 to $750.
Frequently asked questions
How do installment loan interest rates compare with payday loans and traditional bank loans?
How long does it take to get a no-credit-check installment loan?
What is the main difference between an installment loan and a payday loan?
How much can you borrow with a no credit check installment loan?
Are there any hidden fees when applying for an installment loan?
Conclusion
If you find your back against the wall, know that you can turn to no credit check installment loans to get you out of your financial jam. It is a quick, easy, and convenient way to get the money you need when you need it most. However, you must make sure to repay back the loan on time, or you’ll end up paying even more money in penalties and interest.