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19.99% - 46.93%
Interest Rate
$15,000
Max. Loan Amount
560
Min. Credit Score
Product Name | LendDirect Line of Credit |
---|---|
Interest Rate | 19.99% - 46.93% |
Min. Loan Amount | $100 |
Max. Loan Amount | $15,000 |
Loan Term | No end dates |
Turnaround Time | Within 2 hours with INTERAC e-Transfer® |
Go to site More Info |
Unlike a traditional installment loan, a line of credit (also referred to as a “flexible personal loan” by LendDirect) gives you ongoing access to credit without the need to reapply each time. You can use the personal line of credit from LendDirect for anything like paying for a large purchase, covering unexpected bills or consolidating your debt.
You can apply for a personal line of credit online at LendDirect.ca or in person at a branch. After filling out your personal information, you’ll need to supply information about your income and banking details. Once you’ve disclosed this information, your application will be assessed and you’ll receive a lending decision typically within 24 hours. Applications submitted outside of company business hours will be processed the next business day.
If your application has been approved, your loan will be funded using Interac e-Transfer, where you will typically receive the money in 15 minutes.
Once you have your personal loan, it acts like a line of credit, so you can take money up to your approved credit limit whenever you need it. You’ll be charged daily interest, meaning you only get charged for the time you use the money. If you choose to take out a line of credit loan with LendDirect, you’ll have a fixed interest rate.
It’s important to understand the cost of any financial product, both what you will pay in fees and interest and what you might pay if you are late with your repayments.
The amount you borrow will determine your loan repayments. If approved, you will receive information regarding your loan repayment terms.
In order to be eligible for a loan, you need to:
You’ll need the following details to complete your application:
The online application is quick and once your information is submitted you will receive a lending decision. It’s possible to receive your personal loan decision within 24 hours if you apply during business hours. If not, your application will be processed on the next business day.
If you’re interested in a personal loan up to $15,000, LendDirect is an option for you to consider.