However, although it’s far easier to get a loan from us than from a bank, repayment is still obviously required in the end. This means that responsible borrowing is critical since you don’t want to run into even further financial trouble.
While we don’t place much stock in your credit history when determining your eligibility for a loan, we advise responsible borrowing. What follows is to keep in mind if you aim to be a responsible online payday loan recipient.
Can You Repay?
Before you apply for a payday loan, make sure that you have the means to pay it back with relative ease. This necessitates you having a steady job that earns a minimum of $300 per week or $800 per month to repay payday loans of up to $1 000. In addition, the minimum repayment period is 60 days (about two months), while the maximum is 180 days (about six months).
Are You Being Responsible?
Only borrow what you need and no more. While interest rates vary depending on the lender, you can be sure that there will be interest, and you don’t want to be paying interest on the money you didn’t need.
Lastly, we strongly advise that you avoid taking out more than one payday loan at a time, as this can quickly leave you unable to repay.
To ensure that you get the best of Toronto’s online payday loans, visit our website to fill out an application now!