OFONIMEH JOHNSONEasyFinancial Review 2022: Our in-depth EasyFinancial review analyzes their services as well as the benefits, drawbacks, and step-by-step procedure for securing a loan from this provider. I have taken time to states the easy financial loan requirements, easyfinancial interest rates as well as how to apply for EasyFinancial loans.
EasyFinancial Review 2022
This EasyFinancial review may be useful to you if you’re seeking for a company that offers simple personal loans.
You might require money to cover a medical emergency, a cash shortage at the end of the month, or assistance with a home purchase.
Whatever your demands, a personal loan is frequently the first option. A loan can not only make things easier for you, but it could also raise your credit score.
Canadians can get personal loans from EasyFinancial in both secured and unsecured forms. In the past 15 years, this dependable service has assisted over 300,000 Canadians.
They offer point-of-sale finance as well as personal, auto, and home equity loans. Additionally, EasyFinancial can get you the money you need in less than 24 hours thanks to its simple and fast application process.
You can even get a personal loan from EasyFinancial if your credit score is bad or nonexistent. We shall examine their service providing in detail in our EasyFinancial review.
We’ll discuss the advantages and downsides of borrowing money from them. We’ll also look into what makes EasyFinancial a preferred option for Canadians.
Why is EasyFinancial a wise choice?
We will go through the reasons why this financial services provider might be a good fit for you in the following section of our EasyFinancial review.
You may be able to satisfy your immediate financial demands with a loan. EasyFinancial, one of Canada’s top financial institutions, offers advantageous personal, home equity, and auto loans.
With little to no credit history or a low credit score, getting a personal loan may prove to be a difficult task. Very few financial institutions would be prepared to assist you.
With EasyFinancial, this isn’t always the case, therefore you might still be able to get a loan.
It’s not too difficult to obtain a loan with EasyFinancial for up to $50,000. And in less than 30 minutes, your loan amount might even be authorized.
In fact, among all the loan providers in the nation, they offer one of the quickest loan approval processes. So EasyFinancial could be your savior if traditional lenders are unwilling to assist you.
Additionally, by allowing simple payments at a low interest rate, they’ll aid in the improvement or building of your credit score. With their assistance, almost 60% of their clients were able to raise their credit scores.
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The Pros and Cons of EasyFinancial
Analyzing and weighing the benefits and drawbacks of any financial services provider is crucial when we conduct our investigation.
In this EasyFinancial review, we’ll highlight the advantages of their offerings and the areas where they may do better.
The Pros of EasyFinancial
Here are some reasons why working with EasyFinancial to obtain a loan is wonderful.
Greater Loan Amount
You are eligible to borrow up to $20,000 for a personal loan from EasyFinancial and $50,000 for a home equity loan.
These loans have no restrictions on how you may use the money, so you can use them for anything from a last-minute auto repair to a medical emergency.
Easy application procedure
Fast approval times are one of EasyFinancial’s key advantages. EasyFinancial will notify you of your approval in less than 30 minutes after you submit an online application.
High Rate of Loan Approval
The loan approval rate at EasyFinancial is more than 88 percent. If you have a job and make at least $1200 a month in net pay, your application will probably be accepted swiftly.
No Credit Check Required
When approving your loan request, this provider does not verify your credit history or score. You can be a recent immigrant, a student, or a worker with a low credit score.
If so, there is still a significant probability that EasyFinancial will approve your loan application.
Loan Transfer on the Same Day
Your application will be approved by an EasyFinancial Loan officer, and you will get your money in less than a day. The funds will be electronically transferred to your bank account and deposited there (EFT).
The Cons of EasyFinancial
The EasyFinancial experience may be enhanced in a few specific areas.
Variable Interest Rate
EasyFinancial offers yearly interest rates ranging from 14.99% to 46.96%.
Additionally, the interest rate you pay will change based on the size, kind, and history of your loans. And your interest rates might be greater than they would be with a conventional lender.
Only a few are available
Only Canadian citizens who are permanent residents are eligible to apply for loans through EasyFinancial.
However, you can still apply for a loan even if you are a student or are in the nation on a work permit. However, you cannot apply until you have been in the nation for six months.
Fixed Income Requirement
You must be employed and have a monthly net income of $1200 to be qualified for a personal or home equity loan. If you are unemployed, EasyFinancial will not approve your application.
Required Co-Applicant for Higher Loan Amounts
Maybe your credit is bad or nonexistent. If so, you’ll likely require a co-applicant in order to be eligible for an increased loan amount through EasyFinancial.
Your interest rate could drop by as much as 2%, though, if you add a co-applicant.
Interest Build-Up/Accumulation
If you fail to make a loan payment, interest will accrue and the principal debt will rise.
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EasyFinancial Interest Rate
The annual interest rate that is made available by EasyFinancial ranges anywhere from 14.99 percent to 46.96 percent.
Your credit history, the quantity of the loan you take out, and the type of loan you take out all influence the interest rate you pay.
You should also be prepared to pay interest rates that are greater than what you would receive from a typical lender.
Types of Loans Offered by EasyFinancial
An overview of EasyFinancial in general has already been given. The benefits and drawbacks of applying for a loan through them have also been discussed.
The variety of goods and services that EasyFinancial provides will be dissected in this area of our evaluation.
EasyFinancial Personal Loans
The terms of EasyFinancial’s personal loans are covered in this section, along with information on how to apply.
In comparison to other money lenders, EasyFinancial provides inexpensive payment alternatives and a relatively low interest rate.
With the assistance of their professionals, you can tailor your loan to meet your unique demands.
Your loan might be used to pay off debt, fix your house or automobile, or pay your bills.
There are no limitations on how you can use this sum, so do as you like with it. You can pay off your loan at any time without incurring any penalties thanks to EasyFinancial.
In less than 24 hours, they’ll deposit the borrowed money into your bank account. Additionally, alternatives for long-term payments will be provided, ranging from 9 to 84 months.
What is the Cost of EasyFinancial Personal Loan
Quick personal loans are available from $500 to $20,000 from EasyFinancial. They have an interest rate that is considerably lower, starting at 29.99 percent.
When submitting your application, you can borrow more money at a lower interest rate if you designate a co-applicant.
EasyFinancial Home Equity Loans
With EasyFinancial, you can access more money with cheaper payments and rates by using your house as collateral. In other words, by maintaining ownership of your property as equity, you would secure the home equity loan.
However, the home you live in must be registered to you or your spouse. Since you (or your spouse) are listed as the owner on the mortgage and property tax statements, you must present them.
A loan officer will call you 30 minutes after you submit your application to go through the status of your loan. To better understand your situation, our person may ask you more questions.
And if you’re unclear of what to do, you can talk to them about your alternatives.
EasyFinancial provides home equity loans with long-term payment alternatives with terms ranging from 72 to 120 months.
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What is the Cost of EasyFinancial Home Equity Loans
Through EasyFinancial, you can easily get a home equity loan in the $15,000 to $50,000 range. This lender offers interest rates that are considerably cheaper, starting at just 14.99%.
EasyFinancial Auto Loans
The terms of their auto loan and how to apply for one are covered in this section of our EasyFinancial review.
You have the choice of obtaining a pre-approved auto loan through EasyFinancial. You may then choose your ideal car with ease, knowing precisely what you can afford.
The amount of the pre-approved loan will depend on your income, monthly costs, and the sort of vehicle you intend to purchase.
However, as soon as you obtain an auto loan, you must have basic vehicle insurance in place. You can include a co-applicant on your auto loan application with EasyFinancial.
This may enable you to receive a loan with a bigger loan amount and a lower interest rate. Additionally, you are not charged any additional costs or penalties if you repay your loan early.
Keep in mind that this lender exclusively funds passenger cars. They do not offer financing for motorbikes, leisure vehicles, boats, or other motorized vehicles.
Additionally, you must qualify by purchasing a vehicle that is less than 12 months old.
EasyFinancial offers auto loans with long-term payments that can last up to 84 months.
What is the cost of EasyFinancial Auto Loans?
The loans available from this financial services company range from $5,000 to $30,000.
Additionally, EasyFinancial offers loans with interest rates that range from 24.99 percent to 34.99 percent, which are noticeably cheaper.
EasyFinancial Point-of-Sale Financing
A particular kind of personal loan made available when you buy goods at a store is known as point-of-sale finance. This service is offered by EasyFinancial through more than 4,000 retailers across Canada.
The company has a higher than 88 percent approval rate for its affordable point-of-sale financing solutions. S
imply fill out an online application form is all that is required. You’ll get a response right away from the source. The choice to buy can then be made right away.
Based on your unique profile, EasyFinancial provides you with a personalized plan. To qualify for point-of-sale financing, you do not need to have a certain credit score.
Instead, the loan professionals look over your customer profile and create a financing plan that is tailored to your individual requirements.
How Safe and Legitimate is EasyFinancial?
You should always confirm a company’s validity before doing business with them as a financial services provider.
The safety of borrowing money from this lender will be covered in this section of our EasyFinancial review.
In 2006, EasyFinancial was established.
Over 300,000 Canadians have had loans accepted since that time. They enjoy a fantastic 88 percent approval rating. And they provide a solution for those who have no credit score or a low credit score.
Numerous positive testimonials of this lender are readily available online. Those positive evaluations are highly earned and not surprising, given my experience.
Having said that, I advise you to become familiar with EasyFinancial’s terms and conditions before applying for a loan. Make sure you are aware of the interest and any fines you may be charged for late payments.
Before you sign, carefully review the agreement’s conditions. Ask their loan officers to clarify any points you don’t comprehend.
The last thing you want is to get into a contract impulsively and have to pay back more than you intended.
The validity of EasyFinancial is furthered by the fact that it has more than 380 physical branches spread across Canada. Through their official website, you should be able to locate a branch close to where you are.
EasyFinancial Customer Service and Support System
An overview of EasyFinancial’s customer care staff can be found in this section of our assessment. You have several ways to get in touch with EasyFinancial’s customer support representatives.
Additionally, they provide an email address specifically for questions and concerns.
During business hours, a toll-free hotline for the finance company is also available. Their representatives are helpful and very informed about the loans they offer as well as the application procedure.
Besides its online presence, EasyFinancial offers more than 380 physical locations across Canada. So you can speak with a loan officer in person by going to a branch during business hours.
You can apply for a loan there as well, and they will probably accept it right away.
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What’s the website for EasyFinancial like?
Since this lender’s website is where the majority of loan applications are made, understanding how it functions is crucial.
The user-friendliness and navigability of the EasyFinancial website will be covered in this section of the evaluation.
The website’s home page is crammed with data. It appears to give you practically all of the important information you would require.
However, the manner the information is presented makes it manageable. It won’t be tough for you to browse the website and discover comprehensive information about their goods and services.
The loan payment calculator on the EasyFinancial website is its best feature. You don’t need to be a math whiz to figure out your monthly repayments thanks to this helpful calculator.
Enter the entire loan amount, choose a payment method, and enter the term to calculate your repayment amount.
The calculator will then compute your overall monthly loan repayment amount automatically. Therefore, it might facilitate users’ quick and simple decision-making.
Through EasyFinancial’s website, you can apply for a loan in three easy steps. The loan application is simple and easy to complete.
Once you have qualified for a loan, they also provide helpful materials on their website to assist you in managing your spending.
How to Get Started with EasyFinancial
BNelow is how to begin using EasyFinancial loan service.
You can apply for a loan with EasyFinancial by calling an executive or going in person to one of their branches. or submit an application directly through their website.
You can follow along as we walk you through the process of starting your online application in this area of our EasyFinancial evaluation.
The process of applying via their website is simple. To begin, all you have to do is click the large blue “Apply” button.
The loan application form will appear in a new window that opens. Enter your contact information, the loan type you need, and the amount you want to borrow. Then select “Next.”
Following that, you will be required to give your phone number, birthdate, residency status, address, and level of income. Once finished, simply click “Next” to load the following page.
You will now have submitted a preliminary loan application, and you should hear back from the lender quickly after submitting it.
You should speak with one of their loan officers if you have trouble being accepted using the internet interface. To talk about your alternatives, you could call them at their toll-free number or stop by a branch.
You would then need to submit the necessary paperwork for your personal loan, home equity loan, auto loan, or point-of-sale finance after it had been approved.
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Eligibility and Qualifications for EasyFinancial Loan Approval
Customers of this financial services provider must meet certain eligibility requirements. All the conditions essential for your loan to be accepted are broken down in this portion of our EasyFinancial evaluation.
- You must be at least the legal drinking age in your province. Depending on the province you’re in, this will be either 18 or 19.
If you can offer documentation of your employment, EasyFinancial will only authorize your loan. This could take the shape of full- or part-time employment. If you’re self-employed, you might have to give further details about your company.
Candidates must be Canadian citizens or lawful permanent residents. However, you can apply if you’ve been in Canada for longer than six months on a work permit or student visa.
To be eligible for an EasyFinancial loan, you must have a net monthly wage of at least $1,200.
Documents Required for EasyFinancial Loan Approval
The supporting documentation required to have your loan approved is covered in this portion of our EasyFinancial evaluation. Here are a handful of the main documents needed to confirm your identity.
- The last two months’ worth of your pay stubs must be attached.
You must provide EasyFinancial with recent bank statement verification of your financial information as proof of your identity.
You must also provide copies of your legitimate government-issued picture identification documents and a recent utility bill with your name and address on it as confirmation of your actual address.
How to Apply for EasyFinancial Loans
As previously noted, one fantastic aspect of easyfinancial is that they have more than 200 branches in every province in Canada where you may go for information or to apply.
Although they don’t have any offices there, citizens of Nunavut, the Yukon, and the Northwest Territories can still apply online.
Additionally, you can contact one of their customer service representatives by phone, email, or live messaging. Online applications are often accepted around-the-clock and take roughly 10 minutes to complete.
If everything goes according to plan, you should get a confirmation within 30 minutes, and the loan will be paid out in one lump sum into your bank account the same business day.
However, depending on the amount and type of loan you request for as well as their specific office hours, customer service answers, loan approvals, or deposit delays may vary.
Apply With Good Financial Health
Easyfinancial advertises that 60% of their customers had low credit when they first applied, and that 88 percent of applicants were approved the same day. So it’s obvious that even if your financial condition is less than ideal, you may still apply for a loan and use the money to your advantage.
Nevertheless, the general terms of your loan will be influenced by your financial situation. Generally speaking, you can obtain the finest loan options if you have:
A favorable credit score (660–900)
an ongoing work and a respectable monthly salary
There are few to no unpaid debts
No recent bankruptcies, consumer proposals, or other delinquencies
Loan assurance (collateral)
an endorser or cosigner
What are EasyFinancial Alternatives
In our EasyFinancial review, we’ve provided you with a thorough overview of the loan application procedure. But there are other lenders you could attempt if your loan request from EasyFinancial wasn’t accepted.
These businesses operate quite similarly, therefore there is a significant possibility that one of them will approve your loan.
Fairstone
An array of financial services are provided by Fairstone, including secured and unsecured personal loans, auto loans, and more.
You might be eligible for a loan in the range between $500 and $50,000. Furthermore, compared to EasyFinancial, the loan terms are longer.
Like EasyFinancial, you can apply for their loans without having a decent credit score. Additionally, Fairstone offers all of their loans at rates that are comparably lower than others.
The fact that Fairstone has over 240 branches across Canada adds to its reliability. On their website, you can apply for a loan directly, or you can go to a branch close to you.
Consumer Capital Canada
Another lender that provides personal loans to Canadian citizens is Consumer Capital Canada. But you can only submit an application for a personal loan for up to $12,500.
To assist you in managing your loan repayments, they also provide interest rates that are fairly competitive and long payment durations.
This company, like EasyFinancial, won’t deny your loan application because of your credit rating. You could still be able to apply even without one. Furthermore, there is a solid likelihood that your application will be accepted.
On their website, you may quickly apply for a personal loan. Filling out an application and providing your personal information is all that is required. Your credit standing, employment history, and income will all be included.
SkyCap Financial
Up to $10,000 is available in personal loans from SkyCap Financial. It takes five minutes to complete their online application.
Additionally, you’ll need to present a bank statement and a photo ID from the government. In less than 24 hours, they’ll provide you the results of your loan application process.
This lender provides loans to Canadians with bad or no credit, just like EasyFinancial does. They also take applicants who have filed for bankruptcy under consideration.
You can repay your loan over a period of nine to thirty-six months if you choose SkyCap Financial’s flexible payment options.
However, this service will set up automatic payments using your bank details. The loan payments would then be automatically deducted from your account each month before the due date.
A wrap on EasyFinancial Review
Here are some key points concerning this well-known lender that you should keep in mind as our analysis of EasyFinancial comes to a close.
An easy, quick, and efficient way to borrow money is provided by EasyFinancial. EasyFinancial may be able to help you if traditional lenders have turned down your loan application due to your credit history.
They have an easy loan application procedure. To fully comprehend the conditions of your loan payment, you must carefully study your contract and consult with their loan personnel.
We gave you a quick introduction of EasyFinancial and its application procedure in this review. We also covered several options to take into account as well as the benefits and drawbacks of borrowing money from them.
For individuals wishing to borrow money for an unanticipated bill or emergency, EasyFinancial is a reliable option.
However, when you apply, we advise you to take into account adding a co-applicant with a respectable credit rating. You will be able to secure your loan amount and qualify for a cheaper interest rate as a result.
Before signing the loan contract, you should also make sure to review the monthly interest rate charged. Regularly paying your dues is crucial to minimizing your monthly payments.
We hope that reading our EasyFinancial review will help you take the next step in submitting your application and getting the money you require.
Our in-depth EasyFinancial review analyzes their services as well as the benefits, drawbacks, and step-by-step procedure for securing a loan from this provider.
FAQs On EasyFinancial Review 2022
See some of the Frequently asked questions on EasyFinancial Review 2022 below and their various answers.
How much is the interest in easyfinancial?
Can you pay off an easy financial loan early?
We allow free early repayments on unsecured loans and payment protection plans to help save you interest, protect you and get you out of debt sooner.
Is Fairstone the same as easyfinancial?
easyfinancial has 370 locations across Canada, while Fairstone has over 240. That means both options have a wide range of in-store branches.
If you’re on the fence, you can check both lenders to see which has a local storefront that’s closest and most convenient to you.
Who is easyfinancial?
Launched in 2006, easyfinancial is the Company’s financial services arm that provides instalment loans to non-prime customers who have limited access to traditional bank financing products.
Can you pay off an easy financial loan early?
We allow free early repayments on unsecured loans and payment protection plans to help save you interest, protect you and get you out of debt sooner.
How fast is easy financial?
Receive funds in as little as 15 minutes. Borrowers with bad credit or no credit can apply. Fill out one application with this broker and get pre-approved by different lenders in 5 minutes. Apply in less than 10 minutes for an unsecured loan and if approved, receive financing in as little as 24 hours.
What does easy financial do?
Who is easyfinancial and what do we do? easyfinancial is a non-prime lender that offers a full suite of lending products that includes installment loans up to $75,000. Our financial products and services help everyday Canadians that may have limited borrowing options and have often been declined by banks.
Is go easy the same as easy financial?
goeasy Ltd., a Canadian company, headquartered in Mississauga, Ontario, provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands.
How much is the interest in easyfinancial?
What are the interest rates at easyfinancial? Our interest rates range from 9.99% – 46.96%. The interest rate varies based on your loan type, loan size, length of term, and our assessment of your credit profile.
Can you pay off an easyfinancial loan early?
You can pay off your Personal Loan early or make any extra payments at any time without any penalty. If you would like to pay off your Home Equity Loan early, an Early Payout Fee may apply depending on your province or territory.
Is Fairstone the same as easyfinancial?
easyfinancial has 370 locations across Canada, while Fairstone has over 240. That means both options have a wide range of in-store branches. If you’re on the fence, you can check both lenders to see which has a local storefront that’s closest and most convenient to you.
Who owns Go easy financial?
| Type | Public |
|---|---|
| Founded | 1990 |
| Headquarters | Mississauga, Ontario , Canada |
| Key people | David Ingram (Executive Chairman), Jason Mullins (President and CEO) |
Is Fairstone the same as easyfinancial?
easyfinancial has 370 locations across Canada, while Fairstone has over 240. That means both options have a wide range of in-store branches. If you’re on the fence, you can check both lenders to see which has a local storefront that’s closest and most convenient to you.
Who is easyfinancial?
Launched in 2006, easyfinancial is the Company’s financial services arm that provides instalment loans to non-prime customers who have limited access to traditional bank financing products.
How much is the interest in easyfinancial?
What are the interest rates at easyfinancial? Our interest rates range from 9.99% – 46.96%. The interest rate varies based on your loan type, loan size, length of term, and our assessment of your credit profile.
Is easy Financial a payday loan?
Get more money at lower rates with British Columbia’s best payday loan alternative. easyfinancial offers personal loans up to $50,000* that can help improve bad credit and get you on a path to a better financial future.
How much is the interest in easyfinancial?
What are the interest rates at easyfinancial? Our interest rates range from 9.99% – 46.96%. The interest rate varies based on your loan type, loan size, length of term, and our assessment of your credit profile.
Who owns Goeasy?
| Key people | David Ingram (Executive Chairman), Jason Mullins (President and CEO) |
Is Goeasy the same as easyfinancial?
goeasy Ltd., a Canadian company, headquartered in Mississauga, Ontario, provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands.
Can I pay off my easy financial loan early?
We allow free early repayments on unsecured loans and payment protection plans to help save you interest, protect you and get you out of debt sooner.
What is the easiest loan to get approved for?
- Easiest loans and their risks
- Emergency loans
- Payday loans
- Bad-credit or no-credit-check loans
- Local banks and credit unions
- Local charities and nonprofits
- Payment plans.
- Paycheck advances.
- Loan or hardship distribution from your 401(k) plan.
How long does it take easy Financial to approve a loan?
On average loan applications receive credit pre-approval within 10 minutes, and get a final lending decision within 30 minutes. Secured Personal Loans can be issued in as little as 2 business days. Pre-approval is subject to change based on income verification and other documents.
Is easy Financial a payday loan?
Get more money at lower rates with British Columbia’s best payday loan alternative. easyfinancial offers personal loans up to $50,000* that can help improve bad credit and get you on a path to a better financial future.
Does easy financial affect your credit?
Applying for an easyfinancial loan will not affect your credit score. We use of a soft credit check so you will be able to see what you qualify for before deciding to proceed with the application.
Does easyfinancial pay their employees well?
According to anonymously submitted Glassdoor reviews, easyfinancial employees rate their compensation and benefits as 2.9 out of 5. Find out more about salaries and benefits at easyfinancial. This rating has decreased by -11% over the last 12 months.
What are the pros and cons of working at easyfinancial?
According to reviews on Glassdoor, employees commonly mention the pros of working at easyfinancial to be culture, benefits, career development and the cons to be senior leadership, management, compensation.
How satisfied are employees working at easyfinancial?
61% of easyfinancial employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated easyfinancial 2.6 out of 5 for work life balance, 3.4 for culture and values and 3.4 for career opportunities.
Can you pay off easy financial loan early?
We allow free early repayments on unsecured loans and payment protection plans to help save you interest, protect you and get you out of debt sooner.
Is Goeasy a good company?
Goeasy is a great place to work. The culture is very uplifting with team building events and it’s easy to talk to my managers. I always have a full day of work, which means I’m never bored, so the day goes fast. The benefits are amazing, and depending on your position, you will have able opportunity to bonus.
Who is easy financial?
easyfinancial is an alternative Canadian lending institution offering unsecured personal loans, home equity secured loans, credit builder loans and even auto loans. It’s been in business since 2006, helping over 630,000 Canadians to secure financing.
What interest rate does easy financial charge?
What are the interest rates at easyfinancial? Our interest rates range from 9.99% – 46.96%. The interest rate varies based on your loan type, loan size, length of term, and our assessment of your credit profile.
That has been EasyFinancial Review 2022: How to Apply for EasyFinancial Loans and Interest Rate Canadian Loan. If this article has been of help to you, why not share it with friends on social media through any of the sharing buttons below?
LMA Team.
OFONIMEH JOHNSON
