We provide rent deposit loans for bad credit applicants in Alberta and BC, Canada. Borrow what you need to cover your rent deposit. We fund quickly and at reasonable interest rates, and there is no credit check.
What is a rent deposit loan?
A rent deposit (also known as a security deposit) is provided by the renter to the landlord in case damage is done to the property while the renter lives there. It’s often equivalent to the first and last month’s rent, and can therefore be thousands of dollars. A rent deposit loan is a personal loan used to cover that expense.
About our loans
No Credit Check Loans offers 1-year personal loans in BC and Alberta. Our interest rates are substantially lower than many private lenders in Canada and payday lenders, who charge between 40-300% per annum. Our interest range from 15-31% per year and are interest-only throughout the term. That means lower monthly payments.
In addition to lending at relatively low interest rates to borrowers with bad credit, we also provide up-front disclosures so you understand the total cost of borrowing. We don’t hide anything in fine print.
Our customer service is fast, too.
We also provide the following loans:
- Unsecured debt consolidation loans
- Furniture financing
- Appliance financing
- Payday loan alternatives
- Many more!
There are no broker fees
No Credit Check Loans is a direct private lender for personal loans. We work with applicants and borrowers directly, rather than through a broker, and there is therefore no fee payable to a 3rd party. That’s in contrast to many other bad credit loans available in Canada.
Have a plan to pay us back
Rent deposit loans are like any other debts: they must be repaid as per the contract. Failing to repay one can have serious legal and financial consequences. It can be highly stressful. Therefore, you should have a plan in place to pay back your rent deposit loan. This might include making installment payments or preparing for a balloon payment.
How to apply for a rent deposit loan with bad credit
You can apply for a rent deposit loan, even if you have bad credit, by clicking here. The entire process is online and takes just a few minutes. Funding usually happens on the business day following approval.
Applicants must be residents of either British Columbia or Alberta and must earn at least $4,000 monthly. Check if you qualify for our Guaranteed Approval Program if you have a co-signer.