Comparison

Eastern Loans or Lendful Personal Loan: Which is the best loan option?

Looking for loans with good terms and APR? Read on to learn which one is best: Eastern Loans or Lendful Personal Loan!

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by Victória Lourenço

Published on 07/08/2022

Eastern Loans or Lendful Personal Loan: find the loan you need!

Which is best? Eastern Loans or Lendful Personal Loan? Source: FreePik
Which is best? Eastern Loans or Lendful Personal Loan? Source: FreePik

Are you in the market for a personal loan? If so, you may be wondering if Eastern Loans or Lendful Personal Loan is the best option for you. In this post, we’ll take a look at both options to help you decide.

Also, Eastern Loans offers up to $1,000 in loans. Plus, you can get it on the same day of application. And Lendful Loans has lower rates!

Both these lending platforms offer the incredible loan options. But how to choose the best one for your finances? Keep reading to know more about the perks of these excellent lending platforms!

Eastern Loans logo

How to apply for Eastern Loans?

Eastern Loans is an alternative for online Canada loans since you can reimburse it in 3, 6, or 12 installments over 3 to 5 months. Check out how to borrow up to $1,000!

Lendful logo

How to apply for Lendful Personal Loan?

If you need a personal loan that can give you relatively low rates and up to 5 years terms, read our post and learn how to apply for a Lendful Personal Loan!

When an emergency comes up, we might not know how to solve it. But, a loan can be the best option to help you out. But how can you know which lending platform is best? We can help you out!

Also, we write many comparisons to help you understand more about the many lending platforms. And today, we will show you the features of two incredible lending platforms.

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Eastern Loans

You can get up to $1,000 in loan funds! Source: Eastern Loans
You can get up to $1,000 in loan funds! Source: Eastern Loans

Eastern Loans can be a new player in the online lending space, but it’s quickly making a name for itself. Also, this platform offers personal loans to borrowers in many places in Canada.

Moreover, you can complete your application process to get a loan in as little as 5 minutes. Also, you can get your loan funds on the same day of approval!

In addition, you don’t have to worry about the fees because they have a transparency policy for fees. Also, your money can get your deposit directly into your account.

You can also make your reimbursements in three, six, or 12 installments for a three-month period at least. This way, you can plan your finances and still pay for emergencies.

In addition, the APR is approximately 23%, and the repayment terms are of 3 to 5 months. Moreover, you can accelerate the reimbursement of your loan fund if you make larger payments.

However, there are some bad sides to applying for a loan with Eastern Loans. The APR can be too high compared to other similar lending platforms.

Lendful Personal Loan

Get up to $35,00 in unsecured loans! Source: Lendful.
Get up to $35,00 in unsecured loans! Source: Lendful.

If you are looking for a loan to help you out with a financial plan, Lendful can be your solution. You can find personal loans with rates starting at 9.9%! Also, you can find unsecured loans!

Moreover, you don’t need to worry about the loan terms because you can make repayment from six to 5 years. Also, you can borrow from $5,000 to $35,000 in loan amounts!

In addition, the application process can take just minutes for you to complete. And the best part about the application process is that there is no impact on your credit score.

You can get a quote in as little as two minutes to know how much you can borrow.

Benefits of Eastern Loans

As you can see in the topics in this post, Eastern Loans offers incredible features to its clients. So, some of the best benefits of Eastern Loans is that you can complete the application process in five minutes.

Also, you don’t need to worry so much about your credit score because you can find a loan for every type of score. So, if you don’t have a good score, you can still find the loan you need!

Moreover, you can get your loan funds on the same day of approval! This way, if you have an emergency, you can solve it with no problem with your funds.

Also, your funds will always be deposited directly into your account. With this, you can use it the way you need.

Benefits of Lendful Personal Loan

With Lendful, you can get your loan funds on the same day of approval. Also, you can complete the application process in minutes.

Moreover, the rates start at 9.9%, which is a low amount compared to other lending platforms. Also, you can get up to $35,000 in funds. And the application process does not harm your credit score!

Disadvantages of Eastern Loans

Even though Eastern Loans offers some of the best features, it also has some cons. Although they accept every credit score level, you might get an impact on your score during the application process.

Also, the APR of 23% can be very high when compared to other lending platforms. Plus, if you don’t pay your loan installments, there will be a fee of 2,74% per month.

You can only make loans of up to $1,000, and this can be a downside for those who need more money to borrow.

Disadvantages of Lendful Personal Loan

If you don’t have a good credit score, you might have to pay high interest. Also, if you don’t make your regular loan repayments, you will have to pay an NSF fee.

Eastern Loans or Lendful Personal Loan: which you should choose?

If you only need a personal loan for an emergency, Eastern loans can be your choice. Also, Eastern can be best if you will be able to make your loan repayments fast.

However, if you need a personal loan to pay for something more expensive, you will have to go with Lendful Personal Loans. Lendful offers loans of up to $35,000.

Also, with Lendful, you can get a quote to see how much you borrow with no impact on your credit score!

Eastern LoansLendful Personal Loan
APR*Approximately 23%.10.78% to 22.48%.

*Terms apply.
Loan PurposePersonal loans.Personal loans.
Loan AmountsUp to $1,000.$5,000 to $35,000.
Credit NeededThe credit requirements depend on the loan type and loan amount.Minimum of 600 points.
Terms3, 6, or 12 installments over at least
three month period (up to 5 months).
6 months to 5 years.
Origination FeeN/A.N/A.
Late FeeIf you don’t pay, there will be a monthly fee of $1,74% per month.$50 NSF fee.
Early Payoff PenaltyThere are no early payoff penalties.There are no early payoff penalties.

If you can’t decide between Eastern Loans and Lendful Loans, we can give you a different option: iCash Loans. So, check out our post below to learn more about this option!

iCash logo

iCash Loans review: what you need to know to apply

If you need a lending platform to help you find the best loan for you, keep reading our iCash Loans review post to learn more!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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