Payday Loan

A payday loan is a small dollar short-term advance used as an option to help a person with small, often unexpected expenses. Pay day Loans are short-term in nature and not intended to be used long-term or for larger purchases. They are a safe and convenient way to allow a customer to stretch their buying power and help cover small, unplanned expenses. When you need help with unexpected bills, we can assist.


How much can I borrow ?

When borrowing from Loans On Demand, Loan amount will not exceed $15,000 for new applicants. Special consideration will be given to returning customers with an excellent credit history for amounts up to $30,000. At Loans On Demand, we have made it easy and fast to get the cash you need, when you need it. We offer a hassle free approach to borrowing that ensures our client's satisfaction. Your loan will be due on your next payday that falls between 4 to 31 days away.


Payday Loan process:

All loans have an agreed upon due date as covered in the customer loan agreement. If payment is not received by the due date, late fees or other fees may apply as detailed in each customer loan agreement. All collections efforts on past due accounts are conducted in a professional, fair and lawful manner. For customers having difficulty repaying their loan, repayment plans may be available.

Loan Extension

You have the ability to extend your loan. This can be done by paying the interest owed on the current loan amount that is due. This allows you to extend your loan for an additional week/fortnight without additional charges. This amount will not be deducted from your loan payment and can only be done once (1) during the loan period. Loans are not extended automatically.

Top Up Loans

You have the ability to top up your loan. This means you can get an additional loan or increase the remaining balance on your current loan. Eg. If you took a loan of $15,000 at 20% interest, the amount you would pay back is $18,000. If you pay a total of $12,000 you will be left with a balance of $6,000. You can apply for a Top Up Loan of $10,000 which brings your owing total back to $18,000. This can only be done once per loan period.


Requirements. VistaPrint Employees Exempt.

As with other types of loan from other lenders, you need to meet certain criteria in order to qualify for a payday loan from Loans on Demand. You must typically:

  • Be employed at a company approved by Loans on Demand
  • Have a NCB or Scotia account with direct deposit and salary deduction eligibility
  • Have held steady employment in the past 6 months
  • Have guarantor that fits the above criteria.

Once both applicant and guarantor are interviewed and the necessary documents have been returned, the loan can be disbursed within one day.

Required documents for Payday loan:
  • Job letter
  • Two recent passport sized photographs
  • TRN Number
  • Valid identification (also needed for Guarantors)
  • Last two pay slips (also needed for Guarantors)
  • Proof of address (also needed for Guarantors)



Back to Top