Payday Loans in Prince Edward Island and Charlottetown
Get Fast Cash With Pheabs
If you need a payday loan in Prince Edward Island and Charlottetown, then Pheabs can certainly help you borrow money today. Secure funds to cover you until the end of the month by completing our simple online loan request form. If approved, you could receive the funds in your bank account on the same day of applying or by the next business day latest!
Step 1 - Enquire Online With Pheabs
Complete our online application form in less than 5 minutes. Include key information such as your contact details and the loan amount you wish to borrow.
Step 2 - Receive An Instant Response
Receive an instant loan offer which you can choose to accept or decline. At Pheabs, we undertake soft searches which will not leave any visible footprint on your credit report.
Step 3 - Money Transferred To Your Bank Account
If approved, the payday loan will be sent to your live checking account on the same day or by the next business day latest.
Pheabs offers a quick, easy and effective way to borrow money in Prince Edward Island. Using our loans connection service, we can help you find the right lender to match your borrowing requirements. Better yet, our service is free of charge for all customers!
How Do Payday Loans Work?
Payday loans offer a short term influx of cash when you face an unexpected emergency expense and cannot wait until your next payday to sort it. It is then intended that you will repay back the loan typically 2-4 weeks later when you receive your next paycheck.
Due to high interest rates, payday loans are intended to only be used for urgent bills such as medical fees, vet costs or car repairs. They are not designed for reckless spending such as shopping or to pay off existing loans as this could lead to debt issues down the line.
What Is The Eligibility Criteria?
The borrowing criteria for payday loans in Prince Edward Island and Charlottetown includes that you must:
- Be a Canadian resident
- Be at least 18 years of age
- Own a valid ID
- Have a Canadian phone number
- Receive a regular income of at least $800 per month
- Have a Canadian live checking account
Where Can I Get A Payday Loan in Prince Edward Island?
Pheabs’ 100% online platform means that you can apply for a payday loan from anywhere in Prince Edward Island via your mobile, laptop, desktop or tablet. Locations include:
Alberton, Belfast, Central Prince, Charlottetown, Cornwall,
Kensington, Kingston, Malpeque Bay, Miltonvale Park, North Shore,
Souris, Stratford, Summerside, Three Rivers, West River
Our speedy brokerage service can save you lots of time as you do not need to travel to a store, queue and fill in lots of paperwork. Rather, you can complete our online application form in less than 5 minutes to receive an instant loan offer. What’s not to love!
What are the Rules for Payday Loans Charlottetown and in the rest of Prince Edward Island?
|Are Payday Loans Legal?||Yes|
|Maximum Loan Amount||$1500|
|Minimum Loan Amount||$100|
|Maximum Loan Term||62 days|
|Cost Per $100||$15|
How Much Would A Payday Loan Cost in Prince Edward Island and Charlottetown?
Canadian legislation allows lenders in the Prince Edward Island province to charge a fee. This would mean that if for instance you wish to borrow $300 over 42 days, it would cost $345 based on an APR of 391%
So if you are looking to borrow money and can afford the repayments, then we would be happy to assist you today. We work with lenders who can meet your borrowing requirements and even better, our service is free of charge!
Can I Get A Payday Loan With No Credit Check?
Yes, it is possible to get payday loans with no credit check. However, at Pheabs we typically undertake soft searches when assessing your loan application but you can be rest assured that this will not leave a visible footprint on your credit record.
You could also consider other products such as title loans which ties your vehicle as collateral to the loan. This means that the lender will base the loan off your asset rather than your financial history so your credit score will not be required.
Can I Borrow Money Quickly with Pheabs?
Yes! Simply completely our online application form, entering how much you wish to borrow in Prince Edward Island and how long for. An instant loan offer will appear on screen from the lender most suited to your borrowing needs and who is most likely to approve you.
If your loan request is approved, the total payday loan amount will be sent to your live checking account as soon as possible. Getting a payday loan has never been easier!
What If I Cannot Make Repayments On Time?
If you are worried that you cannot repay back your payday loan on time, then get in touch with the lender immediately. They may be able to offer you an alternative repayment plan that is more achievable for you or they might freeze the interest on the loan.
It is essential to only take out a payday loan if you are confident that you can afford the repayments. Otherwise you can face late fees and extra interest charges. It can also damage your credit score which can make it more difficult to borrow money in the future.
Will Submitting An Application Form Impact My Credit Score?
No, submitting a loan request form with Pheabs will not affect your credit score or hinder your chances of being accepted for loans in the future. You can be rest assured that we only undertake soft searches that will not leave a visible footprint on your credit record.
However, failing to repay back your loan on time could damage your credit rating. It could also lead to extra charges such as late fees and more interest accrued. This is why you should only apply for a payday loan in Canada if you are certain that you will be able to afford the repayments.
How Can I Maximize My Chances Of Being Approved?
To increase your chances of your loan request form being approved, make sure that you meet all of the eligibility criteria. This includes being a Canadian citizen over 18 years of age, earning a stable income of around $800 per month and having a live checking account for the funds to be deposited into.
After submitting your form, make sure you are easily contactable incase the lender wants to get in touch with any follow up questions. You may need to show proof of income or provide some more details.
FAQs on Payday Loans in Prince Edward Island
- Is Pheabs A Broker?
- How Much Money Can I Borrow in Prince Edward Island?
- Can I Get A Payday Loan With Poor Credit?
- Do You Charge Fees?
Yes, Pheabs offer an online brokerage service. We work with a panel of reputable lenders across the Prince Edward Island province so that we can source the most affordable and competitive loans for our customers, including those with a poor credit score.
According to payday lending regulations, you can borrow between $100 to $1500 in Prince Edward Island. This must be repaid back, plus interest, within 62 days.
Yes, we work with lenders who consider all different types of credit scores. So if you have been rejected by a bank due to a poor credit rating, then you can still apply for a bad credit payday loan with Pheabs today. As long as you meet other key eligibility critiera such as being a Canadian citizen over 18 years old and earn a regular income of around $800 per month, then you should qualify to borrow money online.
No! We do not charge our customers any fees for using our online platform – our service is free of charge to all applicants. We simply receive a small commission from the lender if your loan application is successful.