Cash Depot offers online loans ranging from $500 to $3000, with a term of 6 months. First-time clients have the opportunity to receive up to $1000. The application process is straightforward and swift, taking less than five minutes to complete online. Upon approval, funds can be transferred to your bank account on the same day via e-Transfer. To qualify for a loan, applicants must have an active chequing account for the last 3 months, be in full-time employment for the past 6 months, have lived at the same address for the last 9 months, and receive income through direct deposit or cheque. Applicants must not be bankrupt or have wage garnishment. If a loan of $3000 is taken, the total repayment amount over the 6-month term would be $3992, with a fee of $992.
Cash Depot review
Cash Depot offers an enticing lending service with online loans ranging from $500 to $3,000. The term for these loans is a manageable 6 months, making it a viable option for those in need of quick cash. Notably, first-time clients have the opportunity to receive up to $1,000, a feature that sets Cash Depot apart from its competitors.
The borrowing process is straightforward and efficient. Prospective borrowers can submit an online application in under five minutes. Once approved, the funds can be transferred to your bank account on the same day via e-Transfer, making it an excellent option for those in urgent need of funds.
However, it’s worth noting that there are certain conditions to be met. You need to have an active chequing account for the last 3 months, full-time employment for the last 6 months, and the same address for the last 9 months. Your income should be received via direct deposit or cheque. Additionally, those with bankruptcy or wage garnishment are ineligible.
As for repayments, if you borrow the maximum amount of $3,000, you’ll be expected to pay a fee of $992. This makes the total payment amount $3,992 over a term of 6 months.
In conclusion, Cash Depot provides a quick and efficient lending service with reasonable terms. However, potential borrowers should be aware of the conditions and repayment terms before proceeding.
Table of repayments
| Amount | Fee | Total payment | Term |
| $3.000 | $992 | $3 992 | 6 months |
If you will get the loan of $3.000 with the term of 6 months, your totally payment would be $3 992. The fee is $992.