Payday loan on a fixed-term contract with a bank. Whether or not we get a loan or a bank loan is determined not only by the amount of our income. It is also the form of employment (eg for a definite period, contract for specific work, etc.) that determines in which bank we have a chance for such a loan. Or maybe in the case of a fixed-term contract, we do not have a chance?

We can apply for a Payday loan with an indefinite contract in virtually any bank. Here, there is no problem if we only have the right creditworthiness and credibility. In the case of fixed-term contracts, banks do not, of course, delete all potential customers, but they set some additional requirements. Is it really harder to get a loan, a Payday loan in a bank if we only have a fixed-term contract?

Payday loan on a fixed-term contract. Requirements

Payday loan on a fixed-term contract. Requirements

When applying for a Payday loan with a fixed-term employment contract, we must be sure that the bank will pay particular attention to two elements:

  • how long have we been employed by the current employer,
  • for how long a contract of employment is concluded.


  • which in turn is the current contract of employment,
  • the opportunity to document longer work experience (more and more banks take this element into account).

The bank may sometimes ask for an additional certificate (or a declaration – promise of employment) from the employer, which will contain information on employment after the expiry of the current one. To show continuity of employment, some banks show previous employment contracts with the current employer.

Who has a better chance of getting a loan in the case of a fixed-term contract

The vast majority of banks “treat” contracts for a definite period of time, and thus differently calculate both the creditworthiness and the maximum loan value at the same income compared to the contract for an indefinite period.

We should also remember that banks not only pay attention to the type of contract, but also take into account where we work. In the case of a fixed-term contract, this is the budget sphere, followed by joint-stock companies and limited liability companies

Payday loan on a fixed-term contract in a bank – an article from the series: “Credit advice. Before you apply for a loan or loan.