Articles About Personal Loans

How to Get an Installment Loan with Bad Credit

Discover the accessibility of installment loans for individuals with bad credit. AimFinance provides quick access to funds, often within one business day. As an alternative for those ineligible for personal loans, installment loans offer manageable payments and swift approvals.

What is an Installment Loan?

An installment loan is a type of loan where you borrow a fixed amount of money and repay it, along with interest, over a specified period. The interest rate is determined based on your creditworthiness. Installment loans provide predictability with fixed monthly payments until the loan is fully repaid. These loans can be secured, with collateral like a car, or unsecured, relying on your creditworthiness. Borrowers are advised to borrow only what they need, calculate affordability, and compare loan terms to make informed borrowing decisions.

AimFinance aims for installment loans in 3 new provinces in 2024

AimFinance, a digital installment lender, is set to expand its loan offerings to borrowers outside of Ontario in 2024, aiming to enter Alberta, British Columbia, and Quebec. The company provides installment loans ranging from $1,000 to $5,000, primarily serving the “underbanked or unbanked” market segment.

Greener Homes Grants: making the most of new home energy retrofit programs

Canadian homeowners can access government programs for greener home retrofits, including interest-free loans of up to $40,000 over ten years (Canada Greener Homes Loan), grants of up to $5,000 (Canada Greener Homes Grant), and a 25% mortgage insurance premium reduction (CMHC Eco Plus). These retrofits help improve energy efficiency and can lead to significant long-term savings, with potential reductions of up to 78% in energy costs over ten years, making them a wise investment amid rising energy prices.

What should I know before taking a personal loan?

Personal loans can be an effective financial tool to manage your expenses when you are short on cash. They are unsecured loans that can be used for a variety of purposes, such as paying off credit card debt, consolidating high-interest loans, or funding a major purchase.

How late payments impact your credit score and access to credit?

Even if you miss one bill payment, you can lose as much 150 points. While it’s not always so dramatic of a drop, it’s still essential that you pay things off before the deadlines. You may not qualify for prime credit cards, low-interest loans, and decent mortgage rates. This is because when your credit score is less because you’ve missed a payment or are late, this becomes a red flag to lenders. To keep your credit score healthy, make sure to pay your bills on time.

How to Spot and Avoid E-Transfer Scams

One of the main ways you can be scammed is through e-Transfers. Unfortunately, there are many ways that you can be scammed if you’re not cautious. We’ll let you know what to look out for and how to prevent scams from happening to you.

Do Banks And Lenders Check What You Spend Your Loan On?

It’s important to know the conditions of a loan before finalizing your application, and this includes whether what you spend your loan on will be visible by the lender in the bank or not. Find out in this blog post!

What is the monthly payment on a $30,000 loan?

Use our online calculator that lets you alter the interest rate, term length, etc. to determine various $30,000 loan repayments.

What is the fastest loan to get approved for?

There are some loans available that don’t require any credit checks and will send you your loan funds in 24 hours. Find out which loan is the easiest, fastest and best for you.