Sometimes in life, unexpected things used to appear for the short term which you did not expect at all and even the money that we save is not sufficient at all. In this case either we ask our friends & relatives as the first choice, then bank as the second choice but unfortunately, nobody is able to provide a loan either because of not having extra money or we are not eligible for a loan. In these cases, Eastern Loans is the option for a short-term loan. today we will know Eastern Loans Review | How To Apply for a Payday Loan with Eastern Loans
|Loan App Name||Eastern Loan|
|Loan Amount||$500 to $1000|
|Loan Tenure||3 months to 5 months|
|Interest Rate||28% to 32%|
It is one of the best options to get a payday option for the short term.
In this Eastern Loan review, we will describe the company’s products, their requirements, features, loan rates, etc.
Who is Eastern Loans?
Eastern loans is a digital loan provider that offers payday loans to the people of Canada. It started its loan business in the year 2014.
Eastern Loans is a safe short-term loan direct lender that makes it easy for Canadians to borrow money online in minutes.
It provides fast, easy, and immediate loans that can be credited to your bank on the same day your loan gets approved.
Eastern Loans offers unsecured personal loans(Installment loans) for the short term.
Eastern Loans Features
- You can easily apply for a loan at Eastern Loans online.
- It provides both short term ranging from 3 to 5 months.
- Loans are processed and paid within 10 minutes or less. receive funds within 15 mins with e-transfer or Direct deposit.
- It offers a loan from $500 to $1000.
- Flexible term of Repayment ranging from 3 to 5 months.
- The interest rate is of 28% to 32%.
- It provides an option to repay the loan as weekly, bi-weekly, monthly, semi-monthly.
Eastern Loans Requirements and Eligibility Criteria
You must fulfill the below criteria to get the loan from Eastern Loans.
- You must be a permanent Canadian Resident.
- You must be 18+ years of age.
- Social Insurance Number (SIN).
- Must have a low ratio of NSF.
- You must have steady source of income for last 3 months.
- Must have an active bank account in Canada.
- Income should be of at least $1200.
- Eastern loans does not accept Canadian Pension Plan, private pension, student loan, self-employed, child tax, disability etc.
How To Apply for a Payday Loan with Eastern Loans?
- Visit the official website of Eastern Loan and click on the button Apply Now on the top right corner.
- Fill out your personal information, employment information, and references.
- Next, you need to provide your personal details like First Name, Last Name, Birthday, Address, City, Postal Code, Province, Main Phone, Cell Phone, Email and Email Verification, and Social Insurance Number.
- On the next page enter your employment details like company name, Phone number, Immediate Supervisor/HR Contact, Job Description, Approximate Hire Date, Pay Frequency, New Pay Deposit, Financial Institution, Following Pay Deposit, and How Did You Hear About Us?
- The last section is the reference section. You should provide the full name and phone number and your relationship with the referee.
- Answer the question = Have you ever filed for bankruptcy or a consumer proposal, or are you planning on doing so in the near future?
- Finally read terms & conditions and click on the Submit button.
How to Repay the Eastern Loans Payday Loan?
You need not struggle so much for the repayment as It provides an easy way to repay your loan. The account which you link at the time of loan application process, from the same account money will be deducted automatically on the due date.
You have the repayment option available as Weekly, Bi-weekly, Monthly & semi-monthly.
Make sure to keep the loan amount in the bank account on the due date to avoid any fees or penalties.
Eastern Loans Payday Loan Interest Rate
Eastern loans have a term of 3 months to 5 months with an interest rate of 28.00% to 32.00% per annum.
Is Eastern Loans Safe and Legit?
Eastern Loans take the security and safety of the customer’s personal details seriously. Therefore the data shared on the website is secured by Norton.
Moreover, the security is powered by Verisign. this shows the trustworthiness of Eastern loans.
Eastern loan is also in the loan business since 2014 which makes it an experienced lender company.
Pros & Cons of Eastern Loans Payday Loans
|Fast, easy, and quick application process.||The loan amount is very less.|
|The loan is approved and paid on the same day.||The minimum monthly income is there of $1200.|
|Collateral is not required.|
|It has comparatively lower interest than other online lenders.|
Eastern Loans User Reviews & Feed Back
You must be interested to know what the customers say about Eastern Loans. right? check out below.
- On Trustpilot, there are 7 reviews about Eastern Loans out of which 29% say the Eastern Loan services are excellent. However, a big percentage i.e 71% are not happy with Eastern loan services.
- On BBB, Eastern Loans shows a rating of 3 out of 5 which is an average. BBB (Better Business Bureau) also shows only 2 complaints in the last 3 years.
Eastern Loans Alternatives
There are so many other lenders in Canada which offer a payday loan instantly. In case the Eastern loan rejected the loan application you can choose from the below option.
- Cash Money – It offers payday loan up to $1500 within 10 minutes. The best part is that you can apply for payday loan online, offline by visiting cash money store and by calling its customer care as well.
- Money Mart – It also offers you payday loan up to $1500 with flat rate fees. you can consider this as an option.
Eastern Loans Contact Details
Eastern Loans Phone Number = +1 855-223-9313
Eastern Loans Working Hours =
Monday = 8 am–8 pm
Tuesday = 8 am–8 pm
Wednesday = 8 am–8 pm
Thursday = 8 am–8 pm
Friday = 8 am–8 pm
Saturday = 11 am–4:30 pm
Sunday = 11 am–4:30 pm
Eastern Loans Registered Address =
100 King St W Suite 5600, Toronto, ON M5X 1A9, Canada
In this article, we have done Eastern Loans Review | How To Apply for a Payday Loan with Eastern Loans? I hope the information will be useful to you.
I am still in favor of not taking any type of loan until & unless you need it the most. If you need an instant loan for the short term you can opt for Eastern Loans to get the loans.
Always calculate and check the fees & charges completely before coming to the final conclusion.
You can borrow between $500 to $1000.
You have 3 to 5 months to pay back the eastern loans.
The loan amount will be credited to your bank account via Direct Deposit.
You will get the loan the same day your loan is approved.
Eastern loan contact number = +1 855-223-9313