Rates Fees & APR

Responsible Lending

allcreditsource helps you when you need it most, but in the most responsible way. Total transparency, free early repayments, and a payment protection plan are just some of the ways we put your interests first. We know that fine print can be painful, but below we provide you with all of the facts. If you ever need help, we are just a phone call or email away!

Rates, Fees & APR

Total cost of borrowing expressed as an Annual Percentage Rate of 39.78%. Loan payment includes applicable provincial taxes, but excludes prepaid card fees. Loan Protection Program (LPP) coverage is optional at an additional fee (you may obtain similar services from other sources).

Late-payment and Non-payment

In the event that any cheque or other payment method is not honored due to non-sufficient funds, you will be charged a $50.00 fee per event. If you fail to make a payment when due, the unpaid principle and accrued interest will immediately become due and payable at our option 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 the security given for the loan.

Loan Funding Type

  • Separately purchase a pre-paid card product from us for an additional cost and have the loan 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.
  • Funds directly deposited into your bank account via wire transfer or EFT will incur an additional charge of $1.00 per transfer.
  • Loans funded by cheque are free and mailed directly to your home.

APR 39.78%

APR

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

allcreditsource.com is a division of allcreditsource.com Ltd., Canada''s largest lease-to-own furniture, electronics, appliances, and computer retailer. allcreditsource.com offers a variety of financial services, including loans and prepaid cards. allcreditsource.com Ltd. is listed on the TSX under the symbol ''EH''. For more information.

24 hour approval (between Monday - Saturday) based on a completed application and customer verification including a credit check. Payments are due on scheduled income deposits. Loans are based on a 9-36 month term and loan amounts range from $500-$5,000. Ask for details.

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

Some restrictions and limitations may apply. Ask for details.

Payment includes loan protection insurance fees, but excludes applicable provincial taxes and prepaid card fees.

Amount does not include cost of insurance.

If you take out a $500 loan for a 2 week period and renew it 13 times over a 9 month period.

If you only pay the monthly minimum amount ($10 or 3% of balance, whichever is larger) with an annual interest rate of 19%. Source: Financial Consumer Agency of Canada (www.fcac-acfc.gc.ca)

If you take out a loan on a 5 year term with an annual interest rate of 8%. Source: TD Canada Trust Loan Payment Calculator (www.tdcanadatrust.com)

Effective April 2nd, 2014, allcreditsource.com and allcreditsource.com locations no longer support reloading of funds onto the Prepaid MasterCard via cash or debit. Reloading funds to your Prepaid MasterCard can still be done through online banking. For further inquiries, please email epic@allcreditsource.com

Credit Score Impact

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 allcreditsource.com Services 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.

Financial Implications

allcreditsource.com Services offers personal loans from $500 to $5,000 with terms from 9 to 36 months. The APR is 39.78%, and there are no additional fees for the loan. allcreditsource.com Services does not charge a late fee, but payments returned NSF (non-sufficient funds) will be assessed a $50 fee in addition to fees charged by the customer''s financial institution.

Collections Practices

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