$500-$750-$1000 loans service in Canada.
Quick and easy process
As soon as your application is approved, your money will be deposited into your account the same day.
Refund over 3 months
Take comfort in knowing that you will reimburse your loan in 3, 6 or 12 payments based on the frequency of your pay over a period of 3 months.
SAFE and secure
Our firm guarantees that your information will be kept confidential Read more about our Compliance Policy here
Every Canadian is welcome to apply for one of our loans, even those with a lower income and those who have been rejected by traditional banks.
Your personal information stays safe thanks to our confidential and secure process. Our excellent customer service team is standing by to help you every step of the way!
Tekaloan streamlined the loan application process to make it quick and hassle-free for people to get loans within 24 hours.
Fill out our quick loan request form
Complete your application with our instant bank verification
Get your loan deposited the same day
Annual percentage rate (APR):
Our approximate annual interest rate is 23%. Applicable interest rate is 1,74% per month if unpaid.
Clients who have successfully repaid a loan can renew their loan after a certain period, allowing them enough time to complete the previous loan, prior to starting payments on their new loan.
Our loans have a repayment term of 3 to 5 months.
To save on interest, you can accelerate the reimbursement of your loan with larger payments.
Deliquent payments & the effect on your credit score (or cs):
Missed payments will be deferred to the back end of the contract and are subject to a $48 fee, as stated in the contract, regardless of the reason the payment did not clear. If you wish to apply for a payment deferral, you must call or email us 48 hours before the actual payment date. If granted, it will be deferred to the back end of the contract. A fee of $28 (plus interest) applies. Please note that this service is not available if the borrower is a resident of the province of manitoba.
Applications are submitted using our filtering process to make sure that the borrower has enough income in order to repay. Including, however not limited to: verifying that your monthly employment income is adequate to reimburse the loan and will qualify for this type of loan. That you don’t have a high level of NSF charges on your bank account statement. That you don’t have a high level of pre-authorized debits in your bank account that could interfere with the repayment of your loan. Should you not meet these criteria, your loan application will be rejected.
A $500 loan payable every two weeks and refundable in 6 payments will be $125.08 by payment for a total amount of $750.45.
This information is given as an example and considers the surety fees to be added to the borrowed capital. The surety company sets their commission for each case at their own discretion regardless of interests due to us. If the loan amount is CAD $500 and the interest rate is 23% per annum with payback of 90 days, the loan payable is as follows : loan amount CAD $500 * ( 22% / 365 * 90 days) = CAD $527. This will result in a repayment of 175,66$ per month for 3 month.
Our loyal customers can renew after a grace period to give them time to complete a previous loan before the beginning of payment cycles of their new loan.
Pay off your loan over a period of 90 to 120 days depending on your payroll frequency. You can repay your loan more quickly by making higher payments. You will save on interest.
Our policy in regards to fair collection:
We use fair collection practices. If you default on your payments, the collection officers could terminate the installment plan and use different methods of collection to receive the money that is due. Payment plans that are terminated shall accumulate interest on the unpaid balance of the loan. It is the borrower’s obligation to cover any legal fees incurred to obtain the owed balance. Uncollected amounts will be pursued to the maximum extent of the law.
Please borrow responsibly. We offer a way to help you during difficult times. However, the interest rate is higher than the rate of local banks. These loans should only be taken out when you do not have other options for financial assistance,and you should be used as seldom as possible. If contracted in knowingly, this loan can prove to be the right solution for you. However, the fact of getting together a large number of short-term loans could lead to serious financial problems and debt impossible to bear.
We encourage you to borrow in a responsible manner. Although we offer a great way to help you during times of need, the interest rate is higher than that of local banks. Use them only when no other options are available. Use them as seldom as possible. Used in a responsible way, it can be the best option for you. Taking on too many short term loans simultaneously could result in serious financial problems and too much debt.
Please note that filling an application does not guarantee a loan approval. Make sure to read our eligibility guidelines attentively. Once your application has been filled out, we will do our verification process and get in touch in a timely manner.