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Lender
Rating by Finanso®
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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.

Kingcash

Finanso.Multilogin™

About lender

Kingcash is a Canadian lending company that provides easy money-lending services, namely, quick cash loans. In addition, the company offers relatively small loans for the short term.

Kingcash was created to offer Canadians a fast and easy alternative to traditional financial institution loans. Moreover, the company’s paperless application can receive the required money very quickly. Customers only need to fill out an online application on its website that can be done within 5 minutes and avoid credit checks as the company doesn’t charge it. In addition, the loans the company offers are configured to be amortized, and lump sum payments are made after the loan approval and repaid over time with interest.

Features

Kingcash is a convenient online lender. The company provides quick loans for the short term.

However, there are some requirements that the company imposes. For example, customers whose sources of income are social assistance, private pensions, student loans, child tax credits, retirement savings, disability incomes, and other insurance incomes can’t be approved.

Also, the company doesn’t allow self-employed customers to borrow money from it. Also, not all payments that customers make are eligible to be deferred. The first one and the last one can’t be deferred, and the company can’t postpone the payment that comes after the missed one.

The borrowable amounts range between $500 and $750, but customers who take the loan for the first time can borrow only $500. Also, the company doesn’t check customers’ credit, so even clients with bad credit can be approved for a loan from Kingcash. Furthermore, the amount customers want to borrow can be deposited into their bank accounts quickly due to the company’s paperless online application that can take less than 5 minutes, and money can be received up to 24 hours. Moreover, the company allows customers to repay their loans earlier, but they need to notify the company in advance.

Pros and cons

Pros

  • The company allows customers to repay their loans earlier;

  • The application is quick, and money can be received within 24 hours;

  • The company doesn’t run credit checks, so even clients with bad credit can be approved;

  • If customers can make a missed payment within five days, they will not incur an NSF fee;

  • If a customer has lost their job or is unable to work, they need to contact the company to search for a solution;

  • Customers are allowed to send the required documentation via email or fax/scan.

Cons

  • The company offers only small loan amounts;

  • Customers whose sources of income are social assistance, private pensions, student loans, child tax credits, retirement savings, disability incomes, and other insurance incomes can’t be approved;

  • Self-employed customers will not be approved;

  • There is a transaction fee;

  • The APR can be pretty high - up to 22%;

  • The company doesn’t provide insurance for their loans;

  • The first and the last payments can’t be deferred;

  • Every deferral request made incurs a fee of $25;

  • Customers who take the loan for the first time will be approved only for $500.

As we can see, Kingcash has several advantages. First, the company allows customers to repay their loans earlier if necessary. Also, they have a rapid application that can be done online and takes less than 5 minutes.

However, there are enough disadvantages that can impact customers’ decisions. For example, the company doesn’t let self-employed customers apply for a loan. Also, the range of borrowable amounts is concise: only $500 - $750, and customers who take their first loan can borrow only $500.

Loan conditions

Suppose customers are attracted by the services that Kingcash offers, they will need to apply for a loan. Customers can use the online application form located on the company’s website. It can be filled out within 5 minutes, and customers will get the company’s response.

The company has several requirements for customers to be approved. For example, clients must be older than 18; be a Canadian citizen; make over $ 1,200 per month in income, received by check or direct deposit from their employer; have reliable employment, with at least three months in their employ; own a Canadian bank account in which they receive their pay by a direct deposit that has been active three months or more; not be on the cusp of bankruptcy or about to enter into a consumer proposal; have little or no insufficient funds transactions and have a low short term debt ratio.

Kingcash offers loans with 22% APR for short terms up to 120 days. The amounts to borrow vary between $500 and $750.

Methods of loan funding

Once customers complete the application and get approved, they will receive the required amount by direct deposit to their bank account within 24 hours.

FAQ

What is Kingcash?

Kingcash is a Canadian lending company that offers microloan financial solutions. They provide Canadians with relatively small amounts for short periods and at pretty high rates. The company lets clients apply online via an online form located on their website.    

Who owns Kingcash?

Unfortunately, there is no information about the company’s owners or staff in open sources. 

How do you qualify for Kingcash?

If customers want to qualify for the loan by Kingcash, they must be older than 18; be a Canadian citizen; make over $ 1,200 per month in income, received by check or direct deposit from their employer; have reliable employment, with at least three months in their employ; own a Canadian bank account in which they receive their pay by a direct deposit that has been active three months or more; not be on the cusp of bankruptcy or about to enter into a consumer proposal; have little, or no insufficient funds transactions and have a low short term debt ratio.

How much can you borrow from Kingcash?

The company offers loan amounts varying between $500 and $750.

Is it a legitimate company?

Although BBB doesn’t accredit Kingcash.ca, it has a high rating on Trustpilot, and 78% of reviews on this platform about the company are “Excellent.” Its official address is TD Canada Trust Tower, 161 Bay St. 27th Floor, Toronto, ON M5J 2S1.

Company documents

Terms & Conditions
Privacy Policy

Kingcash is a financial service created with the mission of offering Canadians a fast and easy alternative to classic financial institution loans.

© Kingcash

Calculate loan payments at Kingcash

With Kingcash calculator you can calculate an approximate payment schedule for the loan

Kingcash calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 25.09.2022
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What to pay attention to when applying for a loan from Kingcash

  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 Kingcash 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.
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