Loan Away offers online loans ranging from $1,000 to $5,000 with flexible terms of 6 to 36 months. The borrowing process is straightforward: complete an online application, sign the contract with a single click, and receive funds directly into your bank account. Eligibility requires a minimum age of 18 and Canadian residency. A representative example of their loan terms is a $1,000 loan with a fee of $166.88, repayable over 12 months. This equates to a monthly payment of $97.24, with a total repayment amount of $1,166.88 at an interest rate of 29.9%.
Loan Away review
Loan Away is a financial solution that offers online loans ranging from $1,000 to $5,000. This platform provides flexible terms between 6 to 36 months, allowing borrowers to choose a repayment schedule that best suits their financial circumstances.
The borrowing process is straightforward and user-friendly. Prospective borrowers begin by completing a simple online application. Following this, a contract is generated, which can be signed with a single click of the mouse. Once these steps are completed, the funds are directly transferred to the borrower’s bank account.
To be eligible for a loan, applicants must be at least 18 years of age and a resident of Canada.
For a clearer understanding of the repayment structure, let’s consider an example. If you borrow $1,000 for a term of 12 months at an interest rate of 29.9%, your monthly payment would be approximately $97.24. By the end of the term, you would have repaid a total of $1,166.88, which includes the original loan amount and the accrued interest.
In summary, Loan Away offers a convenient and efficient way to secure a loan, with a range of amounts and terms to suit various financial needs and situations.
Table of repayments
| Amount | Fee | Total payment | Term |
| $1.000 | $166.88 | $1 166.88 | 12 months |
$1000 borrowed for 12 months at 29.9%: Monthly payment: $97.24; Total repayment with interest: $1166.88.