A bank ‘s Payday loan loan is the most popular loan product offered by these institutions. Although a Payday loan loan is something else, it is often used to describe the same product. By using this banking product we can get money for any purpose.
This is a good solution for people who need fast Payday loan, provided they have creditworthiness and creditworthiness (when looking for Payday loan loans, use the Payday loan loan comparison tool ).
Payday loan loan in the bank. For whom?
A Payday loan loan may be granted to a natural person who has full legal capacity and:
- has creditworthiness and creditworthiness. Creditworthiness means otherwise the ability to repay the loan with interest on the date specified in the contract. However, creditworthiness is checked at BIK and concerns credit history.
- has a source of income (income), which is confirmed by a submitted statement or indicated appropriate documents.
- A loan or a Payday loan loan can be used for any purpose . In comparison with other loans, the process of applying for a Payday loan loan is clear and not complicated, and the procedure is quick. The maximum loan period is 7-8 years, however there are exceptions and banks offering Payday loan loans even for 10 years.
- Usually, the minimum loan value is PLN 500-1000. The maximum is PLN 255 550 (determined by the Consumer Act), however, also in this case, the majority of banks provide loans in the maximum range of PLN 120-150 thousand. PLN There are very few loan offers with PLN 200,000.
- We have the option of repaying the loan in fixed or decreasing installments , with repayment in decreasing or permanent installments also dependent on creditworthiness.
- The interest rate , as in the case of any loans, can be fixed or variable . As in the case of commissions.
- Some banks allow you to reduce the cost of credit (interest or commission) when using additional financial products, such as opening a personal account, buying insurance, etc.
- Forms of loan repayment security are different. The lack of the need to present the consent of the spouse in individual banks concerns different loan amounts.
- Early repayment of the loan is possible in all banks, however, in some cases this involves paying a fee.
- The possibility of withdrawing from the contract without giving a reason within 14 days from the date of its conclusion – in accordance with the Act on the Consumer Credit. All banks are obligatory.