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Installment Loan FAQs
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There’s no penalty for paying off your loan early.
Borrow $500 to $15,000. Repay your loan in weekly, bi-weekly, monthly or bi-monthly installments (based on your payday schedule) over a period of 12 to 60 months, depending on the loan amount. Each payment can be automatically deducted from your bank account, so you never have to worry about missing a payment. Apply here.
There’s no limit, but you must pay off your previous Installment Loan before getting a new one.
Getting approved for an Installment Loan may require a hard credit inquiry, which can temporarily lower your credit score by a few points. After that, an Installment Loan can help improve your score if you make on-time payments while late or missed payments could hurt your score.
To apply for an Installment Loan from Money Mart, you need to be at least 19 years old with a valid ID, have a chequing account, and have a steady source of verifiable income.
We consider a wide range of criteria when you apply for an Installment Loan, including your credit report, the accuracy of your application, and we may review your payment history on similar products.
To qualify for an Installment Loan from Money Mart, you must be at least 19 years old with a valid ID, have a chequing account, and have a steady source of verifiable income. You may be asked to provide other documents when you apply.
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