Unlike a traditional bank loan , when you take an online loan, you decide what you want to spend your money on. If you want to avoid the inquisitive questions and difficulties often encountered when applying for a loan at a bank, the option of getting a loan online is the perfect solution.
Which loan should I choose?
We are aware that everyone needs some financial flexibility in the event of unexpected situations. The most important issue is which loan to choose. Choosing the best loan depends on the specific situation you are in. For example, a consumer loan may be a good solution for people with a stable financial situation who currently lack some money for daily expenses and shortening the household budget.
Due to the variety of online loans available, it is worth clearly determining how much money and for what purpose you need. Are you looking for quick cash and a short-term commitment that payday loans offer? Or are you interested in a contract with a longer repayment period? An online loan offers many benefits when:
- You temporarily earn less than usual;
- You need money to buy consumer goods, or your savings are not enough to cover the cost of the loan;
- You need money to repair damage and damage immediately
When applying for a loan through Many Bankis, you can be sure that the loan company will not demand clarification as to the purpose for which you intend to spend the money. You can spend it exactly on what you want. This type of financial freedom is rare in transactions with the bank, where you have to explain and argue, and the reason why you make the loan is thoroughly checked.
What is a cash loan?
A cash loan is a type of mortgage loan with a fixed interest rate during the repayment period.
PAYMENT LOAN ON TIME
When you decide on an online loan , you must be aware that it usually has a higher interest rate than a traditional bank loan. This means that as a borrower you have to pay a relatively larger amount for the opportunity to get the benefits of an online loan. Thus, you should always be guided when choosing a loan and a rational view on the extent of your financial possibilities. Remember not to enter into a loan agreement if you are not sure if you can meet the repayment deadline.
Pay attention to the cost of the loan, APRC, preparation fees and commissions for granting the loan, as well as monthly interest rates and installments. The sooner you pay off your debt , the lower the APRC of your loan will be.
WHEN TO APPLY FOR A LOAN?
There are many new players on the online loan market whose names do not sound as familiar as the names of banks from television commercials.
If you want to be sure that you are dealing with an honest company, you can check whether the institution is in the register of the Polish Financial Supervision Authority (KNF). Each loan company must be entered on the PFSA lists, thanks to which you can distinguish a legal company from a matchstick. You can find a list of registered institutions here.
How does a MasterCard credit card work?
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The MasterCard credit card allows you to take out an interest-free loan for a fixed period of time, usually 40-45 days. If the specified period is exceeded, interest is accrued, depending on the conditions established in consultation with the bank.
Using the Many Bankis search engine, you can easily select the companies that offer the loans you are interested in. When you find the right option for you, you should choose at least three companies and apply for a loan.
Since all information on individual offers on our site is not ultimately tailored to your individual needs, it is important to submit applications to several loan companies. Thanks to this you will receive various offers from various lenders and you will be able to choose the most favorable offer.
CAN I APPLY FOR A LOAN?
There are several conditions that must be met in order to apply for an online loan :
- You must be an adult (i.e. 18 years or older);
- You must confirm your identity with a valid document (ID card, passport);
- You cannot be registered in BIG, BIK or KRD due to neglected debt;
- You must have a stable source of income
You must be of legal age to be at least 18 years of age to enter into a legally binding contract. Most people between the ages of 18 and 19 still continue education and have a very low income, which is why there are relatively few loan companies offering services for these people. The credit policy is slightly less restrictive for people aged 20-25, while for people over 25 years of age there are no restrictions resulting from the age of the customer.
Repayment of a loan simply means settling the debt or its remains and usually takes place at the end of the loan contract period. It is then the normal repayment of the loan, which means that the borrower has repaid the borrowed amount within a certain period of time. The repayment date is set with the bank or non-bank company before the loan agreement is signed. You can also pay back the loan in advance, which is called extraordinary loan repayment. Debt repayment can also be done by depreciation or amortization. This involves establishing a repayment program in installments. Thus, with each subsequent installment, depreciation successively reduces the remaining debt.
To apply for a loan electronically, you must use your ID card to prove your identity. In this way, you can complete all formalities online and avoid uncomfortable questions asked by bank employees.
If in the past you had a problem with repayment of obligations on time, it is possible that you are entered on the list of unreliable clients of the National Debt Register (KRD), Economic Information Bureau (BIG) or Credit (BIK). Many loan companies do not allow lending to registered persons because of overdue liabilities. If you’re in a similar situation, the best option is to remove your name from the registry by paying off the neglected debt to the lender who has put you on the list. In addition, when applying for a loan, you are asked to provide an income certificate.
If you have an ordered, stable financial situation, your chances of getting a loan will be much higher. By running an account with a partner, you also strengthen your position in the eyes of the loan company. Thanks to this, you can often borrow more money and get better conditions.
REQUIREMENTS FOR INTERESTED BY INTERNET LOAN:
- 18 years old
However, some loan companies do not allow loans until they are 20 or 25 years old
- Proof of identity
Most often this is done using an ID card or passport. Therefore, to apply for a loan, you must have a valid photo ID
- No listing due to neglected obligations
Only few loan companies decide to grant loans to persons listed in KRD, BIK or BIG. As a registered person (“unreliable debtor”) you therefore have a much lower chance of getting a new loan because you are still overdue with the repayment of old debt
- A steady source of income
This is not always required, but creditworthiness assessment, which determines the terms of the contract proposed by the loan company, can be much better if you have a stable source of income.