You are planning to take out a non-bank loan! Check what you need to know before applying. Thanks to our tips you can borrow money quickly, cheaply and safely.
The enormity of loan companies available on the market can make you dizzy. Like procedures, promises, and conditions. If you have never used the services of such entities before, we will tell you what you must pay attention to.
The basic condition for choosing a loan company should be a legal, lawful business. Before you choose a lender, make sure that his details are on the Register of non-bank institutions kept by the Polish Financial Supervision Authority.
Access to the contract template
Also check that the company’s website has all the registration data (address, tax identification number, REGON and KRS number) as well as telephone numbers and e-mail addresses. An example is the well-known Vivus, which provides information about the company on the home page.
Before signing the loan agreement, you should know its provisions. Thanks to this, you will be aware of the conditions under which you borrow money and avoid unpleasant surprises and frustrations.
You will also know under what conditions you can pay the payday sooner and what consequences a delay in payment will bring. When analyzing the websites of individual lenders, pay attention to whether, like LendOn, they provided customers with a model framework agreement.
Access to the information form
The obligation to provide the recipients with an information form is imposed on non-bank institutions by the Consumer Credit Act. The document contains detailed information on the loan, costs, repayment dates and other issues relevant to the borrower.
Before taking out a loan, be sure to analyze its provisions. On most websites, you’ll find it, just like on the Extra Wallet page, next to the loan calculator.
The rate of obtaining borrowed money
If you want to receive money as soon as possible, use the services of the company providing payday loans online. Unfortunately, choosing such an entity will not always guarantee a quick transfer.
Why? How quickly you get the money depends primarily on … whether the lender’s bank account is in the same bank as your account. Before you apply, find a lender who uses this bank as you. Did you know that Wonga has a dozen or so accounts at various banks?
Short-term or in installments
If you are considering getting a non-bank loan, you will have to choose between short-term and installment payments. Depending on the company, the maximum repayment period of a short-term loan is 30 to 61 days.
You can spread the installment loan repayment over several dozen months. Which of them will turn out to be a better choice depends primarily on your needs and financial capabilities.
Loans for free
Do you want to borrow money as cheaply as possible and preferably completely free? Nothing easier! Currently, dozens of websites offer free payday loans. Good Credit offers the highest on the market.
New customers of this website will borrow up to 6000 USD for free! Although many people are afraid of using such products (after all, how can a loan company offer money completely free), there is no reason to worry.
The only condition for the absence of costs is timely repayment. However, if you are late with your return even a day or two, the lender will be entitled to charge you a standard amount. It is the costs generated by late borrowers that are the main source of income from free payday loans.