Loanz offers online loans ranging from $1,000 to $15,000 with flexible repayment terms of 12 to 60 months. The application process is swift and digital, allowing potential borrowers to apply and get approved within minutes. Once approved, funds can be transferred to your bank account on the same day. To qualify, applicants must be at least 18 or 19 years old, depending on the province, have an active chequing account, a steady income, no debt in collections, and not be in bankruptcy. Repayment terms are transparent, with an example of a $4,500 loan incurring a fee of $3,959.28, making the total repayment $8,459.28 over 36 months. The APR ranges from 29.9% to 46.9%.
Loanz review
Loanz offers a flexible range of online loans from $1,000 to $15,000, catering to various financial needs. The terms of these loans are equally accommodating, ranging from 12 to 60 months, providing borrowers with the option to choose a repayment plan that suits their financial situation best.
The borrowing process is straightforward and convenient. It starts with an online application that takes less than five minutes to complete. Once approved, the funds can be transferred to your bank account on the same day via e-Transfer, making it a swift solution for urgent financial needs.
In terms of loan conditions, applicants must meet certain criteria. They should be at least 18 to 19 years old, depending on the province. An active chequing account is required, along with a steady source of income. Additionally, applicants must not have any debt in collections or be in bankruptcy.
The loan repayment structure is transparent. For instance, a loan of $4,500 with a term of 36 months would incur a fee of $3,959.28, making the total repayment amount $8,459.28. This translates to a monthly installment of approximately $234.98, based on a 46.90% APR.
In conclusion, Loanz offers a simple, fast, and transparent solution for those seeking online loans up to $15,000. The flexibility in loan amounts and terms, coupled with a straightforward application process, makes it a viable option for those in need of financial assistance.
Table of repayments
| Amount | Fee | Total payment | Term |
| $4 500 | $3 959.28 | $8 459.28 | 36 months |
12 to 60 month terms | 29.9% or 46.9% APR. Loans from $1,000 to $15,000. For example, a $4,500 loan paid in 36 monthly installments is $234.98 per month based on a 46.90% APR.