Poles are more and more willing to use the services of non-bank companies, thus giving up the complicated lending procedures imposed by banks. At present, online loans do not differ much from traditional banking products and are distinguished by better granting and greater customer-specific matching. Payday loans are a real sensation on the market, which can be obtained even in a few minutes. How to find the best offer and what the entire loan procedure looks like?
Payday advance online bad credit from $300 to $4600
It would seem that offers advertised as a loan online are a mere marketing trick that is designed to attract new customers. Nothing could be more wrong, because in many cases the money is paid out even within 15 minutes of submitting a correctly completed application. However, certain conditions must be met for this, which may affect the extension of time needed to receive money. These include, among others, the working hours of consultants and the compliance of the banks between which the transaction is carried out. Payday advance online bad credit is granted on simplified terms, which significantly shortens the time of lending.
What exactly is a payday loan?
New customers often have trouble distinguishing non-banking products. First of all, pay attention to the differences between payday loans and long-term loans based on slightly different rules. Offers advertised as payday loans and are very popular as they guarantee quick receipt of money on the account. It is worth mentioning here that payday loans are a product that is beneficial from the customer’s point of view, but it comes with considerable risk. It results from the fact that the entire debt should be repaid within a strictly defined period, which is usually 30 days. After this time, additional interest is added to the capital, which generates higher costs of the loan. In the case of small amounts, regular repayment should not be a problem, but difficulties may arise if you have to return several thousand zlotys within 30 days. Not everyone can afford such a strain on the household budget, which is why loans should be well thought out and matched to your financial capabilities.
Fast internet loans as an alternative to payday loans
The second category of non-bank products are loans, which can be broken down into more installments. You do not have to pay back the whole debt within 30 days, as is the case with payday loans, and the payment can be spread over 24 monthly installments. This means greater security for the borrower and minimizes the risk of defaulting on the debt. In addition, the installment loan is granted for larger amounts than payday loans, which is why you can apply for up to PLN 10,000, spreading the repayment over 24 months. This does not mean that you need to indebt yourself for such a high amount, because installment loans are already granted from PLN 500 with the simultaneous possibility of extending the loan period.
Who can take advantage of the loan?
Although non-bank companies are flexible to meet the needs of customers, they still require certain conditions. Particularly in the case of installment loans, one has to be aware that not everyone can benefit from such financial support. First of all, it should be borne in mind that this is a long-term commitment that poses a high risk to the lender of default. In addition to the aforementioned credit and verification procedure, the customer will be additionally checked in available debtors’ databases. This is to assess whether he will be able to make regular payments and whether there are overdue liabilities on his account that could prevent him from completing the repayment schedule.
What can you do to get a loan even faster?
As a customer, you can, in a sense, reduce the time it takes to complete a withdrawal. First of all, before sending the application, you should check that all the data has been entered correctly. If in the verification process it turns out that they do not coincide with the data on which the bank account is created, the application will be withdrawn. Fast loans over the internet are granted in a shorter time if the banks used by the lender and the borrower agree. In the event of non-compliance, money can be posted even the next day, which extends the time it takes to complete the transaction at the verification stage. To avoid this, it is worth using the method of confirming your identity using the Kontomatik service, which involves logging into electronic banking, without the need to perform a verification transfer. Yet another way to reduce the time for a loan is to submit an application by phone. Then all formalities are handled on a regular basis during the conversation with the consultant. However, this option is only available to customers who once again use the services of a non-bank company.
Payday loan or installment loan
Both of these non-bank products are distinguished by simplified formalities and speed of payment. A loan without leaving your home is a great convenience for people who need an extra cash injection for an unplanned expense. Before submitting the application, however, it is worth analyzing your financial needs and possibilities to decide on the method of financing. payday payday loan will be a good solution if you need to borrow a small amount with a short repayment date. It is even more beneficial because the first payday loan for new customers is completely free. However, if you need a larger sum and you do not want to overburden your budget with a one-time repayment, choose quick loans over the internet in installments. You can set the amount and amount yourself, adjusting the repayment schedule to your own financial capabilities.