Choose a country
Canada
Choose a city
Choose a city
Choose a language
English
Select country
Choose a country
Canada
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Россия
Україна
Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

goPeer's pay off

Finanso.Multilogin™

Repayment of loan

When you receive different loan offers, you decide which conditions are preferable.

The terms are up to 60 months. After the money is deposited into your account, the repayment period will start. After that, payments are arranged automatically, by direct debit, from your account.

A Direct Debit is an instruction from you to your bank which authorizes the lender to collect the amounts of money from your account. You have already agreed with the amount and terms of collection in the application form.

The money is deducted automatically. So you won't miss regular payments.

Your first repayment usually goes one calendar month after accepting your loan and is debited every month.

If you want to pay early or manage your loan, use your borrower dashboard at the official website. There aren't any hidden costs or prepayment penalties.

goPeer charges an origination fee, whose sum depends on the amount of the loan, the repayment term, and your personal credit profile. It could be up to 5%.

Calculate the desired amount in advance. Notice: if you need it for a big purchase, an origination fee could be perceptible.

For example, if you apply for a loan of $7,000 and your fees are 1%, you will only receive $6,930.

The origination fee is deducted from your loan proceeds, and there is no fee or upfront payment of any kind if you do not receive a loan.

Conditions of loan extension

goPeer will send you a reminder two days before your payment.

If you couldn't make the repayment on time, try to pay within 15 business days. In this case, no fee will be charged until the 16th day, when the commission is assessed directly to an investor to compensate for the delay.

You can pay online through your borrower dashboard. If you can't make it immediately, you will receive notification of the missed payment and the date to resubmit it. If this date is not suitable, you can contact the team and amend the new date.

Late payments are fined: $15 or 5.0% of the unpaid installment amount. goPeer does not charge any administration fees on loans.

If your bank rejects an automatic payment, an Unsuccessful Payment Fee of $25 is charged to cover the cost goPeer incurs on the transaction.

This could happen if there's not enough money in your bank account to cover your loan payment, your bank account has been closed, or the account is suspended or inaccessible.

An automatic payment will be processed up to two additional times; if returned unpaid, it is subject to an Unsuccessful Payment Fee.

Stopping payments is disadvantageous because the unsuccessful payment fee is more than the late payment fee. And multiple stop payments give your loan file a poor score which affects your chances of approval for future loans.

goPeer is ready to help with a sustainable plan of repayment in any situation: you could email at hello@gopeer.ca or call on 1 (844) 960-3090

Early payoff

You can make all the repayments early or pay an entire loan for free, and there are no prepayment penalties. All these functions can be managed online through your dashboard.

If you want to make additional payments to clear your loan quicker, log into your borrower dashboard and deposit any amount from your bank account.

The amount paid will be deducted from the total balance of your loan. Once the payment has cleared, your term will automatically reduce.

Paying off your debt early is an excellent opportunity to relieve a financial burden and forget your monthly payments for good.

FAQ

How do I make a payment on goPeer?

Your payments are made from your account automatically every month, in the amount you have submitted. You could pay early or settle up your loan online using your dashboard. 

What happens if you don't pay back goPeer?

If you cannot pay as scheduled, you can make a payment online through your borrower dashboard. 

If you can't do it immediately, you will receive notification of the missed payment and the date when it will be resubmitted. 

You can contact the team and amend another date. You could email hello@gopeer.ca or call on 1 (844) 960-3090 

There is a 15-day grace period to make a free payment. Then, on the 16th day, the late payment fee is charged: $15 or 5.0% of the unpaid installment amount. 

After an automatic payment is rejected, an Unsuccessful Payment Fee of $25 is charged to cover the transaction cost. 

Note: The borrower is responsible for all legal fees required to obtain the balance due. The uncollected debts are prosecuted to the fullest extent of the law.

Can you pay goPeer early?

Yes, you can. You are free to make additional payments or pay off an entire loan at any time. In addition, there aren't any early payment fees.

Can goPeer sue you?

Yes, they can. The borrower is responsible for all legal fees required to obtain the balance due. The uncollected debts are prosecuted to the fullest extent of the law.

Borrow responsibly: review requirements and conditions, and calculate all payments, fees and terms of borrowing to understand whether goPeer services answer your financial needs.

Calculate loan payments in goPeer

goPeer calculator will allow you to calculate an approximate payment schedule for the loan

goPeer calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 01.10.2022
Loan amount
i

Enter the desired loan amount

CAD
CAD
USD
1000 $
25000 $
Loan term
i

Specify the loan term for the calculation

months
days
36
60
Province

What to pay attention to when applying for a loan from goPeer

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes goPeer from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All goPeer’s reviews by October 2022
Leave feedback

Similar companies

Goeasy
33 City Centre Dr #510, Mississauga, ON L5B 2N5
1 844 446 3279
Kingcash
TD Canada Trust Tower, 161 Bay St. 27th Floor, Toronto, ON M5J 2S1
1-844-895-8808
Auto Loan Solutions
3200 Bloor Street West Toronto, ON M8X 1E1
1-800-610-2391
Driven
License No. 6482091
130 Adelaide St W, Suite 3100, Toronto, Ontario, Canada, M5H 3P5.
1-866-889-9412
Symple Loans
161 Bay Street, Suite 2700 Toronto, ON, M5J 2S1
1-888-479-2292