Repayment of loan
All the payments are made automatically according to the pre-authorized payment plan. The pre-authorized payment plan is an automatic withdrawal from customers’ bank accounts each time their payments are due.
Conditions of loan extension
If customers want to take one more loan from goeasy, they can do that. However, it is essential to note that one more loan can be provided only in case clients have their first loan balance settled. After that, customers will need to apply one more time and meet all the conditions with the company.
Also, goeasy lets clients extend their current loans, but to do it, and they need to call the local branch or the company’s contact center to receive further instructions and find out whether it is possible.
Early payoff
If customers want to repay their loan earlier, they can do it. The company promises customers to pay off their loans or make extra payments without fees and penalties. However, such an option doesn’t apply to all loans. For example, customers can repay their personal loans at any time. Still, this process becomes more complicated with home equity loans as GoEasy can charge an Early Payout Fee depending on the province or territory where customers live. On the other hand, if clients make significant or additional payments towards lowering the principal, the monthly amount due will not change.
