No Credit Check Loans in Edmonton

Payday Loans with No Credit Check
Get a no credit check loan at one of the lender verified by our specialists in Edmonton. On 22.06.2024 there are 32 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
Offers: 11
Updated
04.06.2024
12:51
Best Quick Loan Today 22.06.2024*
Mr. Payday
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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.

Recommended FinScore™
0
300
650
1000
up to $10.000
Coast Capital Savings
Personal Loan
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.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
i

Effective interest rate on the product

7.5%
Term
i

Loan term for the financial product

60 months
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.

Recommended FinScore™
0
300
650
1000
to 1500.00 C$
Rate
i

Effective interest rate on the product

to 18.99 %
Term
i

Loan term for the financial product

1 days – 18 months
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.

Recommended FinScore™
0
300
650
1000
100.00 – 1500.00 C$
Term
i

Loan term for the financial product

to 62 days
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.

Recommended FinScore™
0
300
650
1000
500.00 – 750.00 C$
Rate
i

Effective interest rate on the product

to 22.00 %
Term
i

Loan term for the financial product

to 3 months
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.

Recommended FinScore™
0
300
650
1000
50.00 – 850.00 C$
Rate
i

Effective interest rate on the product

to 22.00 %
Term
i

Loan term for the financial product

3 months – 4 months
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.

Recommended FinScore™
0
300
650
1000
200.00 – 1500.00 C$
Rate
i

Effective interest rate on the product

to 391.07 %
Term
i

Loan term for the financial product

to 14 days
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.

Recommended FinScore™
0
300
650
1000
300.00 – 1500.00 C$
Rate
i

Effective interest rate on the product

to 391.07 %
Term
i

Loan term for the financial product

1 days – 14 days
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.

Recommended FinScore™
0
300
650
1000
50.00 – 1500.00 C$
Rate
i

Effective interest rate on the product

173.81 – 517.08 %
Term
i

Loan term for the financial product

7 days – 1 months
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.

Recommended FinScore™
0
300
650
1000
100.00 – 1500.00 C$
Rate
i

Effective interest rate on the product

88.31 – 2391.07 %
Term
i

Loan term for the financial product

7 days – 62 days
How to apply for a No Credit Check Loan in Edmonton? Step-by-Step

If you want to avoid having your credit score checked, you can do it with no-credit check loans in Edmonton. No-credit-check loans enable Canadians to qualify for any loan regardless of their credit score. These types of loans are money loans without a credit check, where the approval is based on your current income and not on your history. No-credit-check loans are short-term loans that are designed to help you access funds when you need more cash to cover unexpected expenses. 

Features

  1. No Credit Check. No-credit-check loans are designed for individuals with a bad credit score or poor credit history. Lenders do not assess the borrower's creditworthiness through a traditional credit check.

  2. Quick Approval Process. These loans often offer instant approval, allowing borrowers to access funds in only a few minutes after submitting the loan application.

  3. Online Application. Borrowers can conveniently apply for no-credit-check loans online, eliminating the need for extensive paperwork typically associated with traditional bank loans.

  4. Short-Term Repayment Period. Generally, these loans come with a short repayment period, making them suitable for addressing immediate financial needs rather than long-term financial commitments.

  5. High-Interest Rates. Due to the higher risk involved for lenders, no-credit-check loans often come with comparatively higher interest rates, ensuring that lenders can offset potential losses.

  6. Steady Income Requirement. Lenders may require borrowers to demonstrate a steady income to ensure the ability to repay the borrowed capital.

How to Get a No-Credit-Check Loan in Edmonton?

Apply for a Loan

  1. Research Lenders. Begin by researching reputable lenders that offer no-credit-check loans in Canada. Look for established financial institutions or private lenders with positive reviews and transparent terms.

  2. Gather Necessary Documentation. Prepare the required documentation, including recent bank statements, proof of steady income, and any other documents specified by the lender. Having these documents ready will expedite the application process.

  3. Online Application. Most lenders offering no-credit-check loans provide online application platforms. Fill out the application form with accurate information, ensuring that you meet the minimum requirements set by the lender.

  4. Review Loan Terms. Carefully review the terms and conditions of the loan, including interest rates, repayment terms, and any potential hidden fees. Make sure you understand the total cost of the loan before proceeding.

  5. Submit Application and Await Approval. Submit your completed application online and await the lender's decision. No-credit-check loans often have a quick approval process, and you may receive a decision within a short time. Once approved, the funds are usually deposited directly into your bank account.

Requirements and Conditions

Conditions

  1. Application Process. Borrowers can usually apply for no-credit-check loans online. The application process is streamlined and can be completed in only a few minutes.

  2. Quick Approval. No-credit-check loans often come with a quick approval process, allowing borrowers to receive a decision in a short time, sometimes within minutes.

  3. High-Interest Rates. Due to the higher risk associated with lending to individuals with no credit check, these loans may have high-interest rates, sometimes ranging from 300% to 500% APR.

  4. Short Repayment Terms. Repayment terms are generally short, often around 14 days. Borrowers need to repay the loan quickly, which can pose challenges for some individuals.

  5. Loan Amount Limits. There may be limits to the amount of money a borrower can access through a no-credit-check loan, depending on the lender and the borrower's financial situation.

  6. Hidden Fees Consideration. Borrowers should carefully review the terms and conditions to identify any potential hidden fees. Transparent lenders provide clear information about the total cost of the loan.

  7. Repayment Terms and Options. Borrowers should be aware of the repayment terms and options available. Understanding the consequences of late or missed payments is crucial.

  8. Regulatory Compliance. No-credit-check loans are subject to regulatory compliance, including Maximum Allowable Cost (MAC) regulations, which dictate the maximum charges permitted.

Requirements

  1. Residency. Most lenders only approve applicants who are Canadian citizens.

  2. Age. It is necessary to meet the minimum age requirement which is above 18 years old (or 19 years old in some provinces).

  3. Employment. Most lenders require borrowers to be employed and have a stable income. Lenders will ask for documents showing you have an active bank account and records of your employment (or other income sources).

  4. Bank Account. The borrower needs to have a bank account and provide recent bank statements to prove the income.

  5. Valid ID. To verify your personal information, you will be asked for a valid piece of Government-issued photo ID, such as your driver’s license and passport.

  6. Guarantor. The lender may also inspect your guarantor’s finances and/or any collateral you’re offering. 

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your province. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Canadian Lenders Association (CLA). Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.