Looking for Payday Loans in Canada?
Our Guaranteed Payday Loans Canada Offers You More Amount and Longer Repayment Time!
We all know a famous proverb that "Time is money" but, it goes old saying now! You don't need to worry about money when applying for payday loans from Payday Mart. This type of short term cash help can easily terminate all financial obstacles and emergencies.
What Meant an Emergency For Payday Loans?
If you are trapped with an emergency in which you don't have enough funds to cover up the cost of your expenses, you may need to apply for a guaranteed approval payday loans. For instance, you need to urgently pay for your car expenses or unexpected bills; you can get the cash help from emergency payday loans online and can cover the cost until your next paycheck.
At Payday Mart, we try to provide guaranteed payday loans Canada with instant decision, by which you can get the money into your bank account within 10-15 minutes. Moreover, you can apply for our e-transfer payday loans Canada 24/7 to get funds in just 2-3 minutes through Interac e-Transfer®.
There is no bondage on "How much loan amount you can apply for?" and normally the range is starting from C$100 up to C$5000 or more. Choose the loan range freely according to your circumstances and requirements. Read on to know more about these guaranteed payday loans no matter what Canada, and find out why they are good for emergency.
What Are Payday Loans? – In a Nutshell
Payday loans are one of the most famous and quickest sources of credit among those Canadians who have bad credit or lower income. In the year of 2014, a survey stated that about around 4% of adult Canadians are handling their household expenses by using payday loans in Canada. The Canadian Payday Loan Association stated that approx. 2 million Canadians have used payday loans online each year.
Such payday loans deposited on weekends are much higher in demand among those who need urgent funds, or who are not eligible for traditional bank loans. Payday loans are referred to as short term lending and not suitable for long term lending. These small-dollar loans starting range is from C$100 up to C$5000 or more.
Who Uses Payday Loans?
Approx. 2 million Canadians use payday loans each year. View the payday loans Canada usage by demographics below
Around 72% of people aged between; 25 to 54 are admitted that they are using payday loans. The survey shows that senior citizens are less interested to take payday loans.
Renters are more interested to take payday loans as compared to homeowners.
According to the Financial Consumer Agency of Canada (FCAC), people with household' income under $55,000/year and 70% Canadians who live with household income under $80,000/year are taking payday loans.
But, 20% of people with household income above $80,000/year, and 7% of people with over $120,000 household income are also express their interest in payday loans. It shows that payday loan usage is not limited to lower-income Canadians.
People who are disabled or unemployed are more eager to apply for payday loans as compared to those who are employed.
Parents are more depended upon payday loans for their monthly expenses as compare to couples without children.
Separated/Divorced or Single Parent
Divorced or Single Parents are twice more interested to take payday loans as compare to people with marital status.
What Are The Reasons of Taking Payday Loans?
Around 45% of Canadians are applied for payday loans to cover their unexpected expenses, such as sudden medical bills. 41% of Canadian people admitted that they are using payday loans to handle all expected expenses, such as credit card bills, rent, and food, etc.
Around 17% of borrowers apply for payday loans to avoid late charges on their due bills, 7% of people are taking such loans to buy something special, and 2% didn't disclose their reasons for opting for these short term payday loans.
These all stats showing that, most of the people of Canada are using payday loans to handle their upcoming shortage of cash.
More Canadians Are Using Payday Loans- Shocking Stats Are Below:
In a survey, it is demonstrated that the people of Canada are less use the traditional way of lending, such as bank loans. Around 35% of Canadians are not used their credit card to cover monthly expenses, and only 12% take a line of credit.
Some more reasons for not choosing a bank loan or credit union:
- 27% admitted that banks and credit union are not interested to lend them money.
- 15% accepted that haven't time to get a loan from bank or credit union due time consuming process.
- 13% clearly said that they not want to borrow money from bank or credit union.
- 55% admitted that payday loans provide them best customer services.
- 90% admitted that payday lending is a fastest and convenient option.
- 74% Canadians admitted that online payday loans are best ever lending option for them.
The Benefits of Choosing Payday Loans Online Canada From Payday Mart
- No Penalties and Hidden Fees: We clearly show you the terms of our loans. When you apply with Payday Mart, all the terms of your loan are clearly shown to you before signing the agreement. This will help our applicants to make a perfect loan decision for them.
- No Credit Check: We offer faxless no credit check payday loans in Canada, which means it will not affect your credit score, and no hard credit checks will be done.
- Reward For Good Borrowers: Unlike traditional bank loans, where you get the same amount even with your good credit history, you can get more money at a lower interest rate with Payday Mart when you repay your loan on the due date.
- Rollover Not Allowed: Most of the online payday lenders trap the borrowers by offering them high-interest loans and force them to take out a new loan to pay their old ones. This deadly debt-trap is called "Rollover". Instead of this, our lenders discuss with borrowers and try to find out an easy to pay plan for them.
- 100% Secure Data: Payday Mart does not sell the personal information of its customers to third-party companies. We make sure that all your details keep safe and can't leak-out from our cybersecurity.
- Instant Decision: Yes, it is true that you not need to wait for hours for your loan approval. Just apply with us and get an instant decision on your loan application within a few minutes.
- Quick Direct Deposits: Once your guaranteed payday loans no matter what Canada is approved, the money will be directly deposited into your bank account within 15 minutes, or through e-Transfer® (5 min).
How is Payday Mart Different From Others?
As we all know that high-interest rates are associated with short term payday loans. As we are a tie-up with only responsible lenders, Payday Mart does not charge extra fees or hidden charges. You can easily calculate the overall cost of your loan, and there are no surprise payments at the end of your balance.
Our application process is easy and fast that lead it to get instant decision on your payday loans online request. What all you need to get started with us are mentioned below:
- Contact information such as, valid e-mail id, phone number and residential address.
- Current income and employment status details.
- Active bank account that accept electronic funds transfer.
You don't need to worry about your details shared with us; Payday Mart secures your information and never sells it to third-party advertising companies. Spend only a few minutes to complete our online payday loans guaranteed approval application, and you could get the money within 15 minutes into your bank account.
It won't hurt your credit score.
Some Payday Loans Online FAQ's
Why are people taking out a payday loan?
Payday loans online Canada is the best solution for Canadians to sort out their short term financial needs. Such unexpected cash needs are arises due to low income or high expenses. Some reasons why people choose payday loans are mentioned below:
- Unforeseen emergencies like medical bills or car repair etc.
- To pay monthly expenses like rent, food, utility bills coming before next pay check.
What information is required to get payday loans in Canada?
To get instant approval payday loans, you will need to share your following information:
- Your valid residential address.
- Your current income.
- Your bank account valid details.
- Your contact information like email and phone number.
Can I apply for payday loans online?
Yes, our entire payday loan application process is online, which gives our applicants more convenience and speed. There is no need to step out from your home and standing in long queues for your payday loans turn. Apply online instantly, and get quick money into your bank account.
Are you available 24/7?
Yes, Paydaymart.ca is an online payday loan portal that works with the finest payday lenders. Our website is available 24/7 over the internet, and you can access it from any time and anyplace. We are also providing weekend payday loans in Canada for the people who need money for their Saturday and Sunday expenses.
If I need guaranteed payday loans today, why I choose Payday Mart?
Payday Mart provides 24/7 payday loans online Canada that helps when you need money at an emergency. Unlike traditional loans where you need to wait for weeks, now get the money in minutes. Other benefits of Payday Mart are:
- No worry about extra charges, penalties, or deadly debt trap. Our loan services are meant to solve your financial problems.
- You don't need to go to your local payday loan storefront and wait for hours. Just visit at Paydaymart.ca, and get your payday loans from the comfort of your home.
- Our in-house Canadian customer support services are always ready to solve your queries and answer all your questions anytime.