8 Major Benefits of Online Loans


Surveys show that 8% of Canadians are having a hard time keeping up with bills and payments. 1 in 6 Canadians admit that their monthly spending exceeds their income. 

What is a good short-term solution in such cases that is easy, quick, and headache free? Consider taking out online loans. 

There are many benefits to these no credit check loans in Canada, especially when you get them from Kingcash. Keep reading to find out more. 

1. No Credit Checks

This is the best part of using online loan services like Kingcash.ca to get short-term loans. You don’t have to worry about the credit bureau being pinged when you apply for such loans. And you don’t have to fret that your credit score will be adversely affected by this application.

That is not the case when you apply for loans with financial institutions, be they banks or credit unions. These applications could result in your credit score dropping because of the credit check conducted. 

Also, if you have a low credit score, this doesn’t automatically mean that you are disqualified from getting an online loan. A lot of online lenders are happy to give short-term loans to folks with low credit scores. You might have to pay a higher interest rate for that privilege, but at least you have cash in hand to pay your bills. 

2. Quick and Easy

The convenience factor of applying for online loans cannot be understated. You can apply for a loan and get approved for it all within minutes while sitting at home in your pajamas. 

It’s the way of the future, to be sure. Why do you need to traipse around town fighting traffic to get a loan when you can do it on a website or through an app? 

3. No Application Fees

Many of these online loan applications do not ask you to pay a fee to apply. You are already struggling to pay your bills, so this is a boon that’s quite appreciated. 

The application process is easy and different criteria are applied to different applicants making it easier to get approved for the loan. 

4. Flexible Repayment

If you are worried that you can’t start paying back the loan right away, then this is another bonus point for fast loans in Canada. You can choose a flexible repayment schedule depending on your specific needs.

You could delay the first payment for a couple of months or pay it in one big chunk when you desire. This flexibility is quite useful when you are struggling to pay lots of strict bill collectors. 

5. No Prepayment Fines

When you have saved up enough to pay the online loan in full, you can do so without worrying about getting fined for this privilege. You might have noticed that banks or other financial institutions always have clauses in their loan contracts that don’t allow you to pay back loans faster than the schedule. 

You will appreciate this flexibility with online loans since you don’t have to wait for the entire schedule to finish paying off the loan. If you get a windfall or a bonus at work, you can use that to pay off the loan faster than intended.  

6. Great in an Emergency

When you are in an emergency and need cash fast, setting up an appointment with a lender at your bank and then getting approved after a strenuous process isn’t exactly appealing (or useful). You need cash fast and that’s why online loans are so helpful in this case.

You can apply for a loan at Kingcash on your desktop or phone and have the loan approved and the cash in your account in minutes. It’s as easy as that!

Also, you don’t have to extoll all the reasons why you are getting a loan and explain to the loan officer the reasons for it. You can get a loan for whatever reason you want and use it as you desire; it’s your prerogative. 

7. No Need to Worry About Higher Interest Rates

There’s this myth perpetuated about online loans that their interest rates are there to gauge customers. But that’s not true.

You might get smaller interest rates with online loans because, in a lot of cases, they are meant for short-term small cash infusions into the customer’s pocket.

That is, you aren’t borrowing hundreds of thousands of dollars for 25 or 30 years. But $1000 for one to four months. 

8. Better Than Using a Credit Card

Your inclination might be to put that emergency payment on your credit card. After all, you have space on your credit card and it can’t hurt, right? 

But you would be better off using online loans in this case, since credit card interest rates can be quite exorbitant. Also, you will get more favorable and flexible terms with online loans than with a credit card.

This doesn’t mean that online loans aren’t safe and secure. Quite the opposite. They are regulated by the government so you don’t have to worry about dealing with loan sharks and folks coming after you to get their money back (Hollywood does give a bad rap to online lenders). 

Choose a Personalized Loan Repayment Schedule with Online Loans

When you are working with an online lender like Kingcash, you can choose a personalized loan repayment schedule that suits your needs. You get your cash fast and easily and you don’t have to worry about any fees, fines, or all that hullabaloo that comes along with loans from banks. 

Online loans are full of benefits for folks like you. So what are you waiting for?

Claim your cash right now. And have the cash in your account fast using an email money transfer. 

Get a cash loan from the comfort of your home.

Easy-to-use money lending services for quick and instant $500 - $750 loans in Canada.

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