The Loans Canada team sits down with Gary Schwartz of the Canadian Lenders Association to talk about open banking.
GoDay Reviews, Ratings And Fees September 2021
- Monday to Friday 8:30 am - 7 pm EST
- Saturday 9 am - 5 pm EST
GoDay is an online alternative lender headquartered in Toronto. They were first established in 2012, and since have branched out across Canada. They currently have offices in Toronto, Vancouver, Calgary, Regina, Fredericton, and Halifax. Canadians in NS, NB, SK, AB, BC, PEI, and ON looking for extra funds can apply for a payday loan or personal loan with GoDay. They are an online loan source that operates 24/7, allowing you to apply from your mobile device, laptop, or home computer.
What Requirements Need to Met to Qualify For a Loan With GoDay?
Whether you apply for a payday loan or a personal installment loan, there are certain basic requirements you need to meet to be approved.
- You must be a resident of NS, NB, SK, AB, BC, PEI or ON.
- You must be at least 18 years or older
- You must have a steady income which is received income via direct deposit
- You must have an active Canadian bank account
- You must have a working email address and phone number
Do keep in mind that first-time applicants will only be eligible for a loan up to $500. Every subsequent loan after that will provide you access to larger loan amounts. The amount you qualify for will depend on your income level as well as how well you meet the other requirements. In addition to that, GoDay may require a credit check.
What Kind of Income Is Accepted By GoDay?
In order to be eligible for a loan with Goday, you must have a reliable source of income. This includes the traditional employment income as well as income from Canada Child Benefit (CCB), Disability Tax Credit, Old Age Security (OAS), Canadian Pension Plan (CCP), and other benefits.
What Loan Products Are Available With GoDay?
GoDay specializes in payday loans but they also provide personal installment loans. While you can borrow between $100 – $1,500 for a payday loan, you can borrow up to 15,000 with a personal loan.
Loan Product Features
|Loan Amount||Interest Rate||Repayment period|
|Payday Loan||$100 – $1,500||NS – $19 per $100 borrowed|
SK – $17 per $100 borrowed
AB – $15 per $100 borrowed
PEI – $25 per $100 borrowed
ON – $15 per $100 borrowed
BC – $15 per $100 borrowed
NB – $15 per $100 borrowed
|14 – 30 days|
|Personal Loan||$1000 – $15,000||Not available||6 – 60 months|
Fees: You should also be aware of potential fees that may be charged for missed payments, pre-payments, administrative fees, and more.
What Is The Application Process Like At GoDay?
Applying for a loan with GoDay is simple. First, fill out your online application with the following information:
- Personal Information – Name, address, years lived there, rent paid, number, DOB, SIN, marital status.
- Financial Details – Source of income, since when you’ve received this income and more
- Income Payment Details – When do you get paid, how much you get paid after taxes, how do you get paid, when your next pay dates are, bankruptcy questions
- Bank Information – Bank name, account type, account number, transit number, and institution number.
Once you fill out your online application, you’ll know how much money you are pre-approved for. From there a GoDay representative will be in touch with you to see if you need to provide any additional information. If approved, they will go over the terms and conditions of the contract which you may sign if you agree with it. Once signed, you should receive your funds within a few hours via direct deposit or email money transfer.
Why Choose GoDay?
|GoDay accepts and approves applicants every day at any time of day due to its highly automated system.||Like any other payday loan, GoDay charges the maximum interest permitted by the law in each province it provides its services.|
|You can get your funds in little as 1 hour after approval.||They check your credit, which may negatively affect your credit.|
|They promise no hidden fees.|
|They are BBB accredited.|
Can I apply for a loan in person with GoDay?
Can I still get a loan if I have bad credit?
Can I still get a loan if I have a high debt-to-income ratio?
Rate & Terms
Requirements & Documents
|$100 - $1,500||Canadian resident 18 years of age or older Steady employment Active Canadian bank account Receive income from via direct deposit Working email address and phone number Home address|
Is GoDay legit or a scam? See what others have to say.
Very happy on how I was handled.
Quick, easy and fast about sums it up. Applied on a Sunday. Was approved within 2hrs. Had money within an hour after that.
This one is NOT a scam it does produce results so long as you don’t forge a bunch of meaningless documents.
Have. Used in passed. Never any problems.
Company leaks private information to other clients and blames it on human error…did nothing to resolve it.
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