Magical Credit – Apply for a Loan
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Contact Information
Company
Magical Credit Inc.
Website
https://www.magicalcredit.ca
Magical Credit – Repayment Schedule
Estimated monthly payments at APR 19.99%. Actual payment is determined at loan approval.
| Amount \ Term | 12 mo. | 24 mo. | 36 mo. | 60 mo. |
|---|---|---|---|---|
| $5,000 CAD | $463.15 | $254.45 | $185.79 | $132.44 |
| $10,000 CAD | $926.30 | $508.91 | $371.58 | $264.88 |
| $15,000 CAD | $1,389.45 | $763.36 | $557.38 | $397.32 |
| $20,000 CAD | $1,852.59 | $1,017.82 | $743.17 | $529.77 |
Representative Example
Loan Amount
$5,750 CAD
Repayment Term
60 months
APR
19.99%
Monthly Payment
$152.31
Total Interest Cost
$3,388.47
Total Amount Payable
$9,138.47
* This example is for illustrative purposes. APR includes the interest rate and any applicable fees. Actual terms are determined upon signing the loan agreement.
Quick Overview
Loan Amount
$1,500 CAD – $20,000 CAD
Term
12 – 60 months
APR from
19.99%
Approval
24-48 hours
Eligible Age
18+ years
Online Application
Yes
Eligibility Requirements
- ✓ Canadian resident, age 18+
- ✓ Provable regular income (incl. benefits)
- ✓ Active bank account
- ✓ Minimum monthly income threshold
Loan Features
- Accepts government benefits & pension income
- ODSP and disability income considered
- Reports to credit bureaus
- Fixed monthly installments