Already Worried About Holiday Spending Debt? A Personal Unsecured Loan May Be the Solution

If that sounds like the scenario you find yourself in, it could take months to whittle your balances back down. While you do, the interest you’ll be paying means the cost of those purchases will just keep growing. They’re the gifts that keep on taking.

But you can wipe out your credit card debt—or avoid growing it altogether—with a personal unsecured loan from a lender like Symple Loans, an innovative new entry to the Canadian lending market that makes borrowing easier, faster and more affordable than many alternatives offered by the country’s established banks and digital lenders.

“Our mission at Symple is to lower the cost of borrowing for credit-worthy Canadians with an affordable, fast and easy online solution,” says Symple Canada’s President and Chief Operating Officer, David Gold. “With a personal loan from Symple, Canadians can enjoy the holidays and live the lives they want without burying themselves in credit card debt.”

Symple is simple

Applying for a personal loan with Symple is as easy as the company’s name implies.

Answering a few quick questions and you’ll have a personalized rate quote in less than two minutes. Then it’s just a matter of completing a short, simple online application.

Once your application’s been filled out and submitted, Symple’s tech takes over. You’ll be presented with a loan offer in 60 seconds. Once you sign the offer, you’ll receive the funds the next business day.

Symple is an online company, which works to its advantage — the services are available 24/7. If you’re doing some late-night shopping and come across an item that needs to be paid for with credit, you can head over to the Symple Loans website and start the loan process with a few taps on your favourite device. You’ll never have to scramble to find a location or wait for a loan officer to call you back.

Your ticket out of high-interest debt

The problem with credit cards and most personal loans isn’t that they result in more debt; it’s that they create more high-interest debt.

If your credit card company was charging you 9% interest instead of 19%, the cost of carrying that debt for months—or years; it happens—would be a lot less daunting, wouldn’t it?

Symple’s digital approach helps keep consumers’ borrowing costs low. With no brick-and-mortar locations to drive up overhead, the company can offer low rates and fees and continue investing in the kind of technology that makes for a smooth loan process.

Symple’s rates start as low as 5.75%. That’s more than two-thirds less than the rate attached to Canada’s most affordable credit cards.

Flexibility to meet your needs

Symple’s personal loans come with an added element that credit card companies, banks and other online lenders often fail to provide: flexibility.

When dealing with a credit card company, the terms aren’t exactly up for negotiation. Symple allows you to choose the loan term—up to seven years—that best suits your budget and lifestyle.

If you’re familiar with personal loans in Canada, you’ll know that some lenders often prevent borrowers from paying their loans off as quickly as they’d like by charging them early repayment fees. When these fees are high enough, borrowers can wind up being locked into loans—and paying interest—for longer than necessary

Early repayment fees aren’t a factor when you borrow from Symple.