Eastern Loans Review 2026Apply Now Check if I Qualify ↓
Written and analysed by Smarter Loans Editorial Team · Reviewed by Rafael Rositsan
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Four questions checked against Eastern Loans's published criteria, per product. No application started.
Eastern Loans reads your banking history rather than your credit score: a low ratio of NSF events and payday loans counts for more than the bureau file.
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12 reviews from borrowers who used Eastern Loans. Each is submitted by a verified borrower and moderated for authenticity; it renders as written, positive or not, and lenders cannot remove it.
They were really fast at getting back to me. I applied online and got a call within the hour. Once all the paper work was checked I got the loan I was looking for in 1 day.
Great service
Great service
I really appreciate the folks at Eastern Loans for helping me with my loan. They took the time to explain the terms of the loan agreement. I didn't feel rushed or pressured at all (as with some other payday companies). Got approved within 24 hours. Great experience and service.
Filled out form, got a phone call, shared a few details and was approved in 2 days.
Car broke down and needed cash to fix it asap.
Quick and efficient! Got my payday loan the same day I applied. Very grateful.
Helpful staff and straightforward process. Interest was a bit high, but expected.
Got the funds I needed, but the fees added up quickly. Still helped in a pinch.
Great service for emergency needs. No hassle and very user-friendly website.
Showing 10 of 12 reviews.
Eastern Loans offers personal loans to Canadians. They started in 2014 and can process loan funds as fast as the same day as applying for one.
Eastern Loans has been in business for over 5 years and was founded in 2014. All application data shared on their website is secured by Norton Secured, which is powered by VeriSign to show customers they take customer privacy seriously.
Eastern Loans offers online payday loans in Canada. You can receive anywhere from $500 - $1000 the same day.
You can borrow anywhere from as little as $500 to as high as $1,000 from Eastern Loans.
Eastern Loans offers an approximate annual interest rate of 23%. If unpaid, the applicable interest rate is 1.74% per month.
You have between 3 and 5 months to pay back a loan from Eastern Loans.
To qualify for a loan from Eastern Loans, you must be a Canadian resident, be 18+ years of age, have a low ratio of NSF, earn at least $1,200 monthly and have a steady job that you've been at for 3 months minimum.
Yes, you can apply for a loan from Eastern Loans online and by phone. Their application online is simple and fast. As soon as you fill out the loan request form and send them the required documents, they'll let you know if you're approved.
If approved, you can get your loan deposited the same day as applying for one from Eastern Loans.
Eastern Loans sends loan funds by direct deposit.
You're unlikely to receive a loan from Eastern Loans if you do not have a steady job, submit incorrection information on your application, have too many non-sufficient funds on transactions, have an undischarged bankruptcy or a consumer proposal ongoing.
No, only people paid by direct deposit on recurring dates are eligible for loans by Eastern Loans.
