Money Mart Installment Loan: features, amounts and application
Borrow up to $25,000 with fixed monthly payments.
The Money Mart Installment Loan is a personal loan suitable for larger expenses, with fixed terms and set repayment schedules.
It offers flexible borrowing amounts, convenient digital features, and various application channels for Canadian residents.
Money Mart is a recognized financial service provider with a national presence across Canada.
Why choose Money Mart Installment Loan
Money Mart’s Installment Loan is designed for individuals looking to borrow from $500 to $25,000 for personal or unexpected expenses.
A key advantage is the flexibility in loan amounts and repayment terms, which can range from 6 to 84 months, allowing borrowers to select schedules that match their financial situation.
Repayment frequency options include weekly, biweekly, monthly, or bimonthly, typically aligned with your pay schedule.
There is no penalty for paying off your Money Mart Installment Loan early, allowing you to save on interest if you repay ahead of schedule.
With a transparent application process and flexible payment dates synchronized with your income, Money Mart stands out for its accessibility.
The issuer has operated across Canada for years, serving numerous communities, and builds trust through regulatory compliance and transparent disclosures.
Protection and security
Money Mart offers an optional Loan Protection Plan, which can cover loan payments in cases like involuntary unemployment, injury, critical illness or other qualifying events.
This insurance may repay the outstanding balance under severe circumstances, offering peace of mind for borrowers.
The digital platform uses security protocols to protect your personal data, and you can monitor your loan and payment schedules via the app or secure website.
How the credit works
The Money Mart Installment Loan does not charge an annual fee and instead provides a lump-sum loan repayable in fixed, scheduled payments.
The available borrowing range is $500 to $25,000, and repayment terms are 6–84 months, depending on your loan amount and province.
Eligibility requires Canadian residency, minimum age as set by your province, valid photo ID, active chequing account, and steady verifiable income.
Applicants are asked to provide a recent pay stub, bank statement showing two direct deposits, and a voided cheque or pre-authorized debit form.
Exact fees and total costs depend on your province, loan terms, and circumstances, so review your loan contract and disclosure before accepting.
Daily use and digital features
Applications and account management are available through Money Mart’s website and mobile app, with options to apply online, at a branch or by phone.
Sophisticated app monitoring helps you track your repayment schedule, set up automatic payments, and get reminders.
No cashback or partner discount programs are attached to Money Mart’s installment loan.
Automatic payments can be set up to withdraw from your bank account, helping you avoid missed or late payments.
Depending on the funding method, money may be provided by direct deposit or Interac e-Transfer, with timing from minutes to several days.
Manage your loan digitally, with funding by Interac e-Transfer or direct deposit for convenience.
To learn more about eligibility and see how to apply step by step, view the full guide.
