FAQ’s
Questions about Payday Tree
What is Payday Tree?
This is Canada’s biggest and leading loan comparison website. On our website you can browse and choose from over several leading loan providers in Canada. We offer free of cost loan comparison services and with us you can compare loan products, their interest charges, rates and fees, eligibility requirements and terms from a wide range of leading loan providers in the country.
How can you help me find a loan?
Payday Tree is Canada’s online loan directory where you can find details of any type of financing available in Canada. We help you connect with 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 a loan company you want to connect with you can start the application process with them entirely online. In just 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 a pride to be Canada’s most trusted source of information about loans 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 featured on Payday Tree. 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 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 to choose Payday Tree to find loans?
Payday Tree is a 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 few clicks of mouse, from their home comfort.
Questions about Payday Loans
What is a payday loan?
It is a short-term loan, 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 I can 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 for a payday loan?
Payday loan is considered an expensive financing option. The cost of payday loan varies from lender to lender, but the interest rate on such loan is generally high as it is provided for a short span of time.
How to apply for a payday loan?
You can apply online and receive funds directly into your bank account. This can be done in whatever best time works for you. The online loan application is quick, easy and hassle-free.
What do I need to apply for a payday loan?
18 years of age
A valid bank account
Have regular job with steady income
Have valid email address, home address and contact number
Questions about Personal Loans
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 of the lenders featured on Payday Tree are able to 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 and see what exactly their eligibility requirements are. Typical requirements to qualify for a loan include having a permanent Canadian residency, have a legal age of 18 years or above, have a valid active bank account and a regular source of income.
What information do you need from me to find a best personal loan deal?
In order to let us 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 be also asked to provide specific details like employment and financial.
I have bad credit rating. Can I still qualify to find a personal loan?
Yes, without any doubt. A lot many loan providers listed on our website are able to help people with less than perfect credit rating to find a 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. So, review your loan agreement and terms carefully before taking out a loan.
Questions about Installment Loans
What are installment loans?
An installment loan is a best form of financing for those who cannot repay their loan all together. 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 interval, for a specified period of time is considered an installment loan.
Are installment loans same as online payday loans?
Both installment and payday loans involve small borrowing amount, but their repayment structure differs. While payday loans are typically paid back in lump sum on an agreed upon date, usually on the borrower’s next payday and installment loans can be repaid over time in small and regular installments.
How one could approve for an installment loan?
To qualify for such loan you need to show proof of your regular income, having permanent Canadian residency with a legal age of 18 years and a valid bank account in your name. You 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 few business days. However it is a subject to change based on lenders, banks and volumes.
How to find a status of loan application?
You will receive response from the lender either on a call or on your email at the earliest in few hours or a day.
What could be the reason for loan application denial?
If you received a notification that your application is declined or rejected, it could be one of many reasons. This may have happened because of sending wrong/ 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 know the reason.