FAQs

WHAT ARE THE ELIGIBILITY REQUIREMENTS?

• Be 18 years of age or older
• Be a resident of Canada
• Have held a stable job for 3 months
• Be paid via direct deposit
• Earn a minimum consistent net income of $1,200 per month

HOW DO I APPLY?

Apply directly online: LOAN APPLICATION

Please ensure you have the following documents ready:

• Bank statements for the last 4 weeks
• Your most recent pay stub
• Photo ID (driver's license, health card, passport, etc.)
• A void cheque
• Proof of residence (lease agreement, utility bill, tax bill, etc.)

WHAT RATES ARE OFFERED?

Here is what the companies we work with offer:

• An annual interest rate of 28.99% (Preferred Rate: 9.99%)
• NSF (Non-Sufficient Funds) fee: $50
• Option to defer a payment for an administrative fee of $25

WHICH CASES ARE REFUSED?

• Being under a Consumer Proposal or Voluntary Deposit arrangement
• Having unstable employment
• Incomplete required documents or erroneous information
• Excessive NSF (Non-Sufficient Funds) transactions on the bank account
• Un discharged bankruptcy
• Failure to meet the eligibility criteria mentioned above

Do you accept self-employed workers?

No, unfortunately, we do not accept self-employed individuals.

"Do you accept clients receiving disability insurance, SAAQ, CSST, or unemployment benefits?"

Yes (certain conditions apply)

Can I apply to renew my loan even if I haven't finished paying off my current loan?

Yes, you can. The balance of the current loan must be less than $150. If the balance is $151, the system will not allow it.

WHAT SHOULD I DO IF I DO NOT HAVE A CHECK?

You can visit your bank to obtain a voided check.

WHAT HAPPENS IN CASE OF NON-PAYMENT?

In the event of payment default or non-cooperation, the debt will be sent to collections, and an NSF fee of $50 will be charged to you.

Does Royal-Finances Instant perform a credit check?

NO credit check will be performed.

How do I know if my application has been accepted?

As soon as your loan is approved, an email will be sent to you.

WHEN WILL THE FUNDS BE DEPOSITED INTO MY ACCOUNT?

Generally, funds are deposited on the same day. However, it is possible to receive your money within minutes of final approval (certain conditions apply).

HOW DO I REPAY MY LOAN?

A direct debit will be deducted from your account on the scheduled date for each payment.

CAN I REPAY EARLY?

Yes. You can repay your loan at any time before the scheduled date without additional fees or penalties.

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