Cash Money Personal Loan
Cash Money offers personal loans – both installment loans and line of credit loans – for those looking at unexpected expenses or to splash out on a luxury.
Compare personal loans from Cash Money
- No early payment fees
- High lending limit
- Installment loans and line of credit loans available
- Lower lending limit for online applications
- Flat interest rate regardless of good credit history
What are installment loans and line of credit loans?
- Installment loans. These are paid back periodically over a set period of time. You apply for a certain amount of money and agree to make repayments over a set timeframe. Once you are approved, you gain access to the entirety of the agreed amount. You must meet minimum repayment requirements, but can make extra repayments to pay the loan off faster.
- Line of credit loans. These offer you the flexibility to borrow as much or as little as you need, up to a certain limit. Once your limit is agreed upon, you have access to those funds. You can withdraw this amount all at once, or incrementally as needed. You do not have to withdraw the entire amount. If a certain amount of your line of credit remains untouched, you will not be charged interest on the amount.
Main points to consider with a Cash Money personal loanCash Money offers personal loans, in the form of installment loans and line of credit loans, of $100 (in store), $500 (online) to $10,000. These loans can be repaid over periods of 6 months - 5 years. Cash Money personal loans attract an annual interest rate of 46.93%.
Features of an unsecured personal loan from Cash Money
- Interest rate of 46.93%. This interest rate is applied to all loans, regardless of the amount you borrow, the length of the loan or your financial capabilities.
- Flexible loan size. Cash Money offers personal loans between $100 (in store), $500 (online) and $10,000. The amount you’re approved for will depend on your ability to make repayments. Online applications have a $500 minimum.
- Fast access to funds. Once you are approved you may be able to access your funds in as little as an hour. Online applications will be wired into your account. If you’ve applied in-store you may have to wait longer to collect your funds.
- Loan terms. You can apply for a loan term of 6 months - 5 years. Longer terms offer small repayment amounts, but accrue a higher total interest.
- Repayment installment options. You will be able to make repayments either bi-weekly or monthly. This allows you to set a repayment schedule that suits your cash flow.
- Credit score. Cash Money will receive your credit score during the customer verification process. If your credit history is not in good standing, you are less likely to be approved for a loan.
- Online and in-branch application. You can apply for a Cash Money personal loan both in-store and online. Online applications may be processed faster, but have a higher minimum of $500.
How much does the loan cost?
The total cost of your loan will depend on how much you wish to borrow, the term of your loan and, if you’ve opted for a line of credit loan, how much you draw down from your loan limit.
Loan fees vary across provinces and territories. Extra fees and valuations will add to the cost of your loan. Common fees for personal loans include:
- Establishment fees
- Missed payment fees
- Default penalties
How to apply for a Cash Money personal loan
You can apply for a Cash Money personal loan by clicking the green “Go to site” links in the comparison table above. To be eligible you must, at a minimum:
- Be a resident of BC, AB, SK, ON, NS (for online or in store application)
- Be a resident of MB or NB (in store applications only)
- Be at least 18 years old
- Have an open chequing account in your name
- Have a working telephone number
When applying for a car loan you’ll need to provide:
- Identification. You will need to provide either a Canadian driver’s licence, passport or birth certificate.
- Verification of income. You’ll need to demonstrate your ability to make repayments by providing proof of employment and bank statements illustrating reliable income.
Read more on this topic
Alpine Credits Home Equity Loan Review Need money fast? Find out how you can apply for a home equity loan with this reputable lender.
What is Bankruptcy in Canada and is it right for me? Wiping the slate clean by filing for bankruptcy is an option if you struggle with debt. But before you take that step, you need to get all the facts.
Fresh Start Finance personal loans Fresh Start Finance gives Canadians a chance to borrow money for their most urgent needs
Law school loans options in Canada Federal and private student loans, plus forgiveness and assistance programs for future lawyers.
Can I use a consumer proposal with my student loan? Struggling with student loan debt? Find out how a consumer proposal can help you get back on track with your finances.
How to get out of the payday loan cycle with a personal loan Find out how you can break the payday loan cycle and clear out your debt using a personal loan.
Dealing with financial hardship If you've lost your job and are dealing with unexpected bills or expenses you could potentially qualify for financial help. Let us walk you through what you need to know.
How to rebuild credit with a cash secured loan Learn how you can repair your credit and save money aside with a cash secured loan.
Can I refinance my mortgage to pay off a consumer proposal? Are you struggling with a consumer proposal? Find out whether you should refinance your home to get rid of your debt.
What happens if you have your consumer proposal rejected? Find out what happens if you file a consumer proposal and it gets rejected by your creditors.