Non-bank cash loans Warsaw, that is, a better solution is a non-bank loan in a fixed-line company in Warsaw or an internet loan company. The answer seems to be simple: we should choose a loan that is cheaper.
A non-bank cash loan in the light of applicable law is a consumer loan if its value does not exceed PLN 255 550 or the equivalent amount in a foreign currency.
No non-bank loans are granted for such high amounts, which qualifies them for consumer loans.
What are the consequences of qualifying such loans for consumer loans?
When a cash loan agreement is concluded, the provisions of the Consumer Credit Act apply to it. Consequently, borrowers have consumer rights, and certain loans are imposed on companies providing such loans.
Non-bank loans are granted to people who have problems getting a bank loan or are looking for a quick loan with a minimum of formalities. The latter factor makes the loan companies’ offer also used by people who have sufficient creditworthiness to get a loan from the bank.
An alternative and a cheaper option for people with creditworthiness and using loan companies may be a limit on your account or credit card.
Non-bank loans are expensive loans
Loan companies use less stringent rules to assess a client’s creditworthiness, and therefore bear a greater risk of a “missed” loan.
At the first glance, a less complicated procedure is an advantage – faster and easier obtaining a loan. However, this can only be an apparent and short-term advantage. If we misjudge our financial capabilities, we increase the likelihood that we will fall into the “spiral of debt”. In the event that we can not repay loans in a loan company on time, and we do not have a chance for a bank loan, we take another loan from another loan company to pay off the existing one. An additional loan is an additional cost.
How does it look in practice? If the first loan amounted to PLN 1000 + costs PLN 250, then the total loan is PLN 1,250. In another loan company, we have to borrow PLN 1250 to give back in the first one. The second loan is also PLN 300, which means that we have to pay PLN 1,550. And we borrowed only 1000 zlotys …
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We only use proven loan companies if we are looking for a payday or a non-bank installment loan.
A non-bank loan is expensive and there is no point in taking additional risks. When you borrow from an unverified company, you run the risk of losing money or collateral.
Search engine and comparison tool for non-bank loans makes it easier to search for a specific loan with given parameters. Using the sliders, we can determine both the value of the payday loan, the non-bank loan into installments and determine the repayment period.
The most popular loans on the internet are loans from PLN 50 to PLN 2,000 for new clients. In most loan companies, the first loan limit is set at PLN 1000 – PLN 1500. The period for which we can borrow is usually from 5 to 30 days. But there are exceptions, of course, such as an installment for 2 months or a one-time payment after 45 or 60 days.
After choosing a loan company in the search engine, you can check the details of the loan on the website of a particular company . Familiarize yourself with the framework agreement, regulations and apply for a loan.