The fine print

We know the fine print can be painful, but we believe it's important you have all the facts!

Overview

easyfinancial offers a variety of financial services including personal loans and secured loans. easyfinancial is a division of goeasy Ltd., a leading full-service provider of goods and alternative financial services that improve the lives of everyday Canadians. goeasy Ltd. is listed on the TSX under the symbol 'GSY'.

easyfinancial is committed to responsible lending and absolute transparency when it comes to rates and fees. We want you to read the fine print before you borrow money with us. We allow free early repayments on unsecured loans and payment protection plans to help save you interest, protect you and get you out of debt sooner.

* easyfinancial offers secured personal loans in all provinces, excluding British Columbia.

Loan products

    • Unsecured Personal Loan amortization between 9-84 months. easyfinancial offers unsecured personal loans in Canada (different lending rules apply to Quebec and can be found at www.easyfinanciere.com and different lending rules for high-cost credit products may apply to Manitoba). Loan amounts range from $500-$20,000, with rates between 29.99%-46.96% depending on your loan size, length of term and our assessment of your credit profile. In Quebec, easyfinancière offers personal loans of $1,000 to $20,000 on terms of 24 to 78 months. The annual cost of borrowing is 35%. See branch for details.

    • Secured Personal Loan amortization between 72-120 months. Amounts range from $15,000-$50,000, with rates between 14.99%-29.99% depending on your loan size, length of term and our assessment of your credit profile. Secured personal loans may be subject to additional fees that vary by province and are subject to a 3-month loan interest penalty when paid out before the end of the loan term. See branch for details.

    • Secured Auto Loan amortization between 12-84 months. easyfinancial offers secured auto loans in Canada (different lending rules apply to Quebec and can be found at www.easyfinanciere.com and different lending rules for high cost credit products may apply to Manitoba). Loan amounts range from $2,000 - $30,000 with rates between 24.99%-39.99% depending on your loan size, length of term and our assessment of your credit profile. See branch for details.

    • Quebec Secured Auto Loan amortization between 12-84 months. Easyfinancial offers secured auto loans in Canada. Loan amounts range from $2,000 - $30,000 with rates between 24.99%-34.99% depending on your loan size, length of term and out assessment of your credit profile. See branch for details.

    • On average loan applications receive credit pre-approval within 10 minutes, and get a final lending decision within 30 minutes. Secured personal loans can be issued in as little as 2 business days. Pre-approval is subject to change based on income verification and other documents.

    • Loan payment includes applicable provincial taxes but exclude prepaid card fees. Loan Protection Plans and Credit Protection Plans are optional insurance programs available for an additional premium fee. You may also obtain similar products from other sources.

    • easyfinancial offers short term personal loans and is not a credit repair service. easyfinancial may help improve your credit score by building a credit history provided your payments are made in full and on-time.

    • Cash Back Offer Get up to $250 cash back on new unsecured or secured loans from September 16 to 30, 2021. Offer excludes creditplus and auto loans. Offer valid for all new secured or unsecured loans with a minimum 12-month term or greater. Get $50 back on your loan after the first six (6) months, $100 back on your loan after the first twelve (12) months and $100 back on your loan after twenty-four (24) months. Offer does not apply to early loan payouts. Loan must be in good standing at the end of each offer interval to qualify for the respective cash back amount for the respective year. All qualifying cash back amounts will be credited to your bank account and issued to you 30 days from the respective offer period noted above. Maximum aggregate amount for the offer shall not exceed $250 per new loan. Limit one offer per customer. Offer excludes Manitoba. Conditions apply; see in-branch for details.

Loan funding type

Funds directly deposited into your bank account via wire transfer, EFT or eTransfer will incur an additional charge of $4.99 per transfer. Loans funded by cheque are free and will be mailed directly to your home. You may separately purchase a pre-paid card product from us for an additional cost and have fast money loaded onto the card. You will be provided with a separate disclosure document setting out the fees you will incur in using a pre-paid card.

Late-payment and non-payment

In the event that any cheque or other payment method is not honoured due to insufficient funds, you will be charged a $50.00 fee per event. In the province of Alberta, you will be charged a $25.00 fee for high cost credit products per event. If you fail to make a payment when due, the unpaid principal and accrued interest will immediately become due without notice to you. You are responsible for any legal costs incurred to collect upon any amount owing and/or incurred to protect or realize any security given for a loan.

Creditplus

  • Refresh Financial Inc. acts as lender in respect of creditplus loans, but is not affiliated with easyfinancial Services Inc. and has not reviewed or approved any claims made in this advertisement, nor can it confirm their accuracy or completeness. The terms and conditions associated with all creditplus loans are set out in the creditplus loan agreement between easyfinancial Services Inc. (which will assign its rights and responsibilities as Lender under the creditplus loan to Refresh Capital Corp. prior to funding it, in accordance with the terms of the creditplus loan agreement) and borrowers. Please review these terms in full to understand your rights and obligations as a borrower of a creditplus loan. Any statements, claims, or offers contained in any advertisement, promotional materials or websites operated, maintained or produced by easyfinancial Services Inc. are wholly the responsibility of easyfinancial Services Inc. and no other party. Refresh Financial Inc., and its subsidiaries and affiliates, has not endorsed any such statements and accepts no responsibility for their accuracy or completeness.

  • Guaranteed easyfinancial loan offer not available in Manitoba, Newfoundland, Saskatchewan and Quebec. Apply for a creditplus loan powered by Refresh Financial, of $1,500 or $3,000, with interest rates from 9.5% – 9.9% depending on your loan amount and our assessment of your credit profile, amortization of 48 months, and get a guaranteed $1,000 easyfinancial loan (the “Offer”) after the first 6 or 12 months of on-time payments. See in store for details. Offer conditional upon customer’s creditplus loan being in good standing where all payments on their creditplus loan have been made on-time for the term of the loan. With APR from 15.68-19.99%, depending on your loan size. To be eligible for the Offer, Customer(s) must be employed, not bankrupt, not in credit counselling, and not have an existing loan with easyfinancial, or have had a previous loan with easyfinancial that was not fully repaid. Offer subject to change without notice. Offer may be withdrawn without notice, at the sole discretion of easyfinancial. creditplus loan may be subject to additional fees that vary by province. Restrictions apply, please see in store for details. This is an offer made by easyfinancial Services Inc. and does not, in any way, guarantee any credit improvement, credit repair or similar guarantees or promises with respect to your credit score.

Referral program

Refer a friend or family member and receive a $100 referral reward on every funded loan. Only one (1) referral reward payable per referee. Limit of five (5) referrals. Referrer must be a resident of Canada (excluding Manitoba) and have reached the age of majority in his/her province/territory of residence. Your account must be in good standing. For purposes of this offer, “family” includes your spouse, common-law spouse, child, or parent, in each case where there is voluntary, direct, two-way communication between yourself and the referred family member. For purposes of this offer, “friend” includes only an individual with whom you have a voluntary, direct, two-way communication and it would be reasonable to conclude that they have a personal relationship with you and have met in person. Offer excludes any referral, direct or indirect, from Mortgage Agents, Mortgage Brokers, Mortgage Advisors or their employees, agents or their affiliates. Conditions apply; see in store for details. Offer excludes Manitoba and other jurisdictions where not permissible by law.

Credit score impact

Applying will not affect your credit score. While having a loan and honouring its obligations can help build credit, too many loans may be seen by potential creditors as an increased risk, and failure to meet repayment obligations will result in a negative report to the credit bureaus, which would reduce your credit score. Please borrow responsibly.

Renewals

Loans from easyfinancial do not automatically renew. Customers have the option to request an increase to their loan after paying down a percentage of their current loan amount and maintaining good payment history. Such a request would be subject to the company's standard underwriting rules.

Benefits of a co-applicant

All new approved unsecured loan application(s), with a co-applicant, will receive a 2% reduction on the interest rate to be charged. Interest rate reduction will occur for the term of the approved loan--provided both applicant and co-applicant are approved. Interest rate reduction will be applied to unsecured loan products only. Offer is valid in all provinces excluding Manitoba and Quebec. easyfinancial reserves the right to change, amend or withdraw this offer at any time without notice. Conditions apply, see in store for details

Collections practices

easyfinancial contacts customers in arrears as soon as possible through various means including, but not limited to telephone, email, postal mail and SMS. easyfinancial may work with third parties to assist in collections activities.

Loan Protection Plans/Credit Protection Plans

The optional Loan Protection Plans/Credit Protection Plans1 are provided under the following group master policies: Loan Protection Plan – Unsecured: EFL012017 & EF012017 Loan Protection Plan – Secured: EFL082017 & EF082017 Loan Protection Plan – SAT: EFLS062021 & EFS062021 Credit Protection Plan – Unsecured: CPPL042017 & CPP042017 Credit Protection Plan – Secured: CPPL082017 & CPP082017 Credit Protection Plan – SAT: CPPLS062021 & CPPS062021. The applicable plan is determined by the type of loan being insured. The complete terms, eligibility, benefits, limitations and exclusions are contained in the Certificates of Insurance.

Credit Optimizer

Conditions apply. Product available for a fee, see in branch for details. Product not available on high-cost credit unsecured personal loans in Manitoba. Credit Optimizer has a Target Score Calculator and a Money Calculator, that estimate how certain changes in your credit behavior may impact your credit score. Credit Optimizer is not a credit repair or credit counseling tool, and does not provide credit repair advice.

Small business financing

Business loans from $5000 to $500,000. Amortization will occur over a 12-month term. Interest rates vary by customer and situation, however the rate of interest applied to the initial principal amount of the business loan will generally fall between 18% to 26%. Loans may be subject to administrative fees. Excludes Manitoba and Quebec. Conditions apply. See in-branch for details.