LendDirect offers online loans ranging from $1,000 to $15,000 with a term of 1 to 12 months. The borrowing process is simple and user-friendly; you can apply online or over the phone, submit income verification documents, and if approved, receive your funds in as little as 15 minutes via Interac e-Transfer. The loan terms require borrowers to be Canadian citizens, aged between 18 and 70, with a steady income, active bank account, and a credit check. As an example of their repayment structure, a loan of $5,000 for a term of 1 year would have a fee of $988, making the total repayment amount $5,988.
LendDirect review
LendDirect, a financial services provider, offers online loans ranging from $1,000 to $15,000, with terms spanning from 1 to 12 months. This flexible range allows borrowers to select an amount and term that best suits their financial needs.
The application process is straightforward and user-friendly. Prospective borrowers can apply either online or by phone. After the initial application, they are required to submit documentation verifying their income, which is a crucial step towards receiving a final lending decision. If approved, they can receive their funds in as little as 15 minutes via Interac e-Transfer®, a feature that sets LendDirect apart from many other lenders.
To qualify for a loan with LendDirect, applicants must meet certain criteria. They must be Canadian citizens, aged between 18 and 70, and have a steady income. Additionally, they must possess an active bank account and undergo a credit check. These terms ensure that loans are granted to individuals who have the capacity to repay them.
LendDirect also provides a clear table of repayments. For instance, if a borrower takes out a loan of $5,000 for a term of 1 year, the total repayment amount would be $5,988, inclusive of a $988 fee. This transparency allows borrowers to understand their financial commitment fully before taking on the loan.
In summary, LendDirect offers a simple, fast, and transparent loan service, making it an attractive option for those in need of quick and flexible financial assistance.
Table of repayments
| Amount | Fee | Total payment | Term |
| $5.000 | $988 | $5 988 | 1 year |
If you will get the loan of $5.000 with the term of 1 year, your totally payment would be $5 988. The fee is $988.