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GoDay Payday Loan: Is it Safe to Apply?

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GoDay is an online lender that gives fast online payday loans and gives Canadians quick access to the cash they need. One best things about GoDay is that their process is 100% online, and needs no paperwork or faxing. If you need a loan, simply complete an online application and sign a contract online. Without hidden fees and perfect credit, all the funds get delivered to your account on the same day.

Before delving into the details, know that GoDay issues online payday loans in Ontario, British Columbia, Alberta, Saskatchewan, New Brunswick, and Prince Edward Island.

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What Conditions Must Be Fulfilled in Order to Be Considered for a GoDay Loan?

You must meet certain basic requirements to be approved for a payday loan or a personal installment loan, regardless of whether you apply for a payday loan or a personal installment loan.

  • You must live in one of the following provinces: NS, NB, SK, AB, BC, PEI, or ON.
  • Be at least 18 years old to participate.
  • You must have a consistent source of income that is received via direct deposit.
  • You must have a bank account in Canada that is active.
  • A functioning email address and phone number are required.

Keep in mind that first-time borrowers will only be approved for a $500 loan. Following that, each subsequent loan will give you access to larger loan amounts. The amount you are eligible for is determined by your income and how well you meet the other requirements. Furthermore, GoDay may conduct a credit check.

What Types of Income Does GoDay Accept?

You must have a steady source of income in order to qualify for a Goday loan. This includes wages, as well as income from the Canada Child Benefit (CCB), Disability Tax Credit, Old Age Security (OAS), Canadian Pension Plan (CCP), and other benefits.

What Kinds of Loans Can You Get With GoDay?

GoDay is a payday loan company that also offers personal installment loans. A payday loan allows you to borrow between $100 and $1,500, whereas a personal loan allows you to borrow up to $15,000.

Whatย Isย Theย GoDayย Applicationย Processย Like?

It’sย easyย toย applyย forย aย loanย withย GoDay.ย Toย begin,ย enterย theย followingย informationย intoย yourย onlineย application:
  • Personal Information – Name,address,ย yearsย livedย there,ย rentย paid,ย phoneย number,ย DOB,ย SIN,ย andย maritalย status.
  • Financialย informationย – the sourceย ofย income,ย lengthย ofย timeย you’veย hadย thisย income,ย andย more 
  • Income Payment Details – When do you get paid, how much do you get paid after taxes, how do you get paid, when are your future pay dates, and questions about bankruptcy

     

  • Bank information: Name of the bank, the kind of account, the account number, the transit number, and the institution number.
You’llย knowย howย muchย moneyย you’reย pre-approvedย forย onceย you’veย completedย yourย onlineย application.ย  Afterย that,ย aย GoDayย employeeย willย contactย youย toย seeย ifย anyย additionalย informationย isย required.ย Ifย you’reย authorized, they’llย goย overย theย contract’sย termsย andย conditions,ย whichย youย canย signย ifย youย agree.ย Afterย youย sign,ย youย shouldย getย yourย fundsย viaย directย depositย orย emailย moneyย transferย withinย aย fewย hours.

Pros & Cons of GoDay Loans

Pros

  • Because of its highly automated system, GoDay accepts and approves applicants 24 hours a day, 7 days a week.
  • After approval, you might get your funds in as soon as one hour.
  • They guarantee that there will be no hidden costs.
  • They are accredited by the Better Business Bureau.

Cons

  • GoDay, like any other payday lender, charges the maximum interest allowed by law in any province where it operates.
  • They run a credit check, which may have a negative impact on your credit.

Can I Still Receive a Loan with Bad Credit?

GoDay considers credit to be one of the most important aspects in assessing your loan eligibility. When determining your eligibility, it considers other parts of your financial profile, such as your income, income stability, indebtedness, and more. Your chances of acceptance will be reduced if you have any previous payday loans or short-term loan accounts that have gone into collections.

The Bottom Line

At Lionsgate, we specialize in helping people obtain funding private mortgages for land purchases as well as for other real estate transactions. If you are looking to buy land in Canada, get a mortgage or apply for a loan, leave us a message and we will try to connect you with local realtors and sourcing for financing.

If you found this article helpful, please share it with someone you care about. Also, visit our blog to read similar articles on mortgages.

 

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