Low Interest Loans

What Are Low-Interest Loans?

Low-interest loans are loans with relatively low interest rates and are offered by big banks, credit unions, or other lenders. However, low-interest loans are often more difficult to qualify for, and lenders are looking for applicants to meet certain lending criteria, specifically:

Solid Credit Score – A higher credit score typically means less risk for the lender. Credit scores higher than 700+ are more likely to qualify for lower interest loans.

Consistent Earnings – Lenders look for a history of stable earnings to assess your ability to repay the loan. 

Low Debt-to-Income-Ratio – The Debt-to-Income-Ratio measures how much debt you currently have compared to your gross income. A ratio of 35% or lower shows lenders you have the capacity to handle more debt.

Collateral – Loans may require security, such as a home or vehicle, to reduce the risk to the lender. 

As low-interest loans require specific qualification criteria, this can lead to lengthy applications, and you may not get access to your cash for up to 2 weeks.
iCash loans are designed for speed because we understand how important it is to get cash in your hand during emergencies. Once approved, just sign the digital agreement, and your money will be sent via e-transfer within 2 minutes—available 24/7, even on weekends and holidays! Contact iCash today to get emergency cash.

Waiting for Low Interest or Getting a Fast Online Loan?

It’s not uncommon to find ourselves in financial situations where we need urgent access to cash, often in the form of a loan. While we all want to pay the least amount of interest, it comes down to a trade-off - do you get the cash you need now or wait days or weeks to qualify for a loan?

Traditional low-interest loans offered by your bank often require extensive paperwork and for you to sign the loan documents in person. iCash’s application can be completed online in minutes, with near-instant approval when you click submit. 

It's Not Just About Interest – Time Matters More!

Timely access to cash is more important than interest rates when dealing with financial emergencies. How so? Let’s review specific situations where waiting for a traditional loan simply won’t work. 

1. Medical Emergencies

You or a family member have an emergency. You may need cash for emergency medical services or prescriptions not covered by your insurance. What do you do?

Do you wait until you get a loan to get emergency dental work or to purchase critical prescriptions? Of course not. You need cash now!  

2. Car Repairs and Breakdowns

You’re driving down the road, your car breaks down, and you don’t have the cash to get it towed to the nearest mechanic, let alone get it fixed. With iCash, you’ll spend more time waiting for the tow truck than waiting for your cash. While your interest may be higher than low-interest loans, you’re vehicle won’t be stuck on the side of the road for two weeks while you wait to receive your cash.

It takes 5 minutes to apply with iCash, and you’ll get a near-instant decision with your cash e-transferred within 2 minutes. Did we mention you can apply and receive your cash 24 hours a day, 7 days a week? It’s true!

3. Home Repairs and Urgent Expenses

Unexpected home repairs can be very stressful, time-consuming, and expensive. Even if you have insurance to pay to repair burst pipes, water damage, and roof leaks, you’ll likely need cash available for any upfront costs. 
Do you leave your home damaged for up to two weeks while you apply for traditional loans? Of course not. You’ll likely incur more costs and further damage beyond interest savings. An instant loan from iCash helps you get your repairs underway so you can get your home back to the way it was.

4. Job Loss or Transition

All of us will transition between jobs throughout our careers and working life. These transition periods can be stressful and emotionally taxing times, made even worse when we don’t know how we’re going to cover critical expenses such as rent or grocery bills. While employment insurance benefits will help, it can take up to 28 days for your application to be processed.In these situations, it’s clear you can’t wait for traditional loans or for employment benefits to be paid. You need cash now so that you can successfully bridge your career transition.

5. Unexpected Travel Costs

Imagine a situation where a close family member is in hospital, and you need to get them as soon as you possibly can. Do you approach a bank for a lower-interest loan for the emergency trip, with endless hoops to go through and a possible two-week wait until you can get your money?The answer is obvious: regardless of the cost, you get on the next flight to be with your loved one as soon as possible. 

We’re here for you when you need cash fast. Sign up to get emergency cash in your hand fast - often within minutes!