Qualify For A Cash Loan In Prince Edward Island
If you’re located in PEI, Magical Credit accepts a wide variety of income sources from the federal (Canada) and provincial (Prince Edward Island) governments, as well as private sources, such as insurance or pension companies.
Below are some of most common types of government income that are received in Prince Edward Island. Each of these income sources may qualify for a Magical Credit cash loan. Depending on the amount of your income, you can qualify for up to $20,000. Learn more about our loan requirements.
Income That Qualifies For Cash Loans In PEI:
- Canadian Pension Plan (CPP)
- Employment Insurance (EI)
- Baby Bonus/ Canada Child Tax Benefit (CCTB)
- Universal Child Benefit (UCB)
- Old Age Security
- Employment Insurance Maternity Leave (EI)
- Workplace Safety and Insurance (WSIB)
- Private Pensions (Blue Cross, Sun Life, etc.)
Please note that this list is not comprehensive. We accept most types of fixed government income that are direct deposited on a monthly basis. If you are unsure whether your government subsidy or fixed monthly income qualifies you to receive a cash loan in PEI, please call us at 1-855-639-6888.
Disclosures:
Magical Installment Loans: We offer installment loans in the amount of $1,500- $20,000 that have a 12-60 month term with an APR 19.99% min - 46.8% max. On $1,500 borrowed for a 1 year term at 3.9% per month, the total cost of borrowing including a $194 fee is $896.00. The total amount to be paid back with interest and fee is $2,396.00. AB License #349796 and BC License #83626
NOTE: Our installment loans are open, so you can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.
Magical Cash Loans - Ontario, British Columbia, Northwest Territories, Nunavut, and Yukon Residents only: We offer Magical Cash Loans in the amount of $100-$1,500.00. The cost of borrowing is $15.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $150.00. The total to payback is $1,150.00 which is an annual percentage rate of 391.07%. ON License #4741412. BC License#85919.
The Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.
