A guide to applying for a loan!

 

The financial services market is currently not limited to banking products, but the non-banking zone is growing more and more dynamically. This makes it much easier to apply for a loan. What’s more, people who are refusing to grant a loan at a bank can be positively verified by non-bank companies. Let’s check how to get a loan.

A well thought out decision

A well thought out decision

There is nothing wrong with entering into a specific financial commitment as long as it is done responsibly and consciously. Therefore, each decision to take a loan and its amount should be preceded by a thorough analysis of the financial situation. The point is that borrowing is really easy, but the debt must be paid back within the prescribed period. Put simply – you should never strain your home budget too much.

View offers

View offers

If the decision to take out a loan is final, the next step should be to examine the offers of financial institutions. The type of financial liability is important, but first of all its costs and legal norms that regulate it. Attention should be paid to the current interest rate as well as the overall costs, which include nominal interest rate, possible commissions and additional fees, eg related to collateral loan. If any doubts arise, they must be clarified before signing the loan agreement. In the event of problems with the analysis of offers, you can turn to professional financial advisors for help, although with non-bank loans the tables of fees and commissions are much simpler to understand than the intricate bank lists.

Checking the loan institution

Checking the loan institution

It is important to verify the credibility of the lender. Institutions granting loans must have a number, which is synonymous with an entry in the National Court Register. A good source of information will also be the Financial Supervision Authority, and in fact a list of public warnings from the Financial Supervision Authority, which include entities operating illegally, without appropriate permits or suspected of committing a crime, eg accepting cash contributions to charge their risk without obtaining the appropriate permission from the Financial Supervision Authority or other art. 171 section 1-3 of the Banking Act. It is also worth checking the Register of Loan Companies, which presents fully reliable loan entities.

Applying for a loan

Applying for a loan

If the lender is credible and you can choose the optimal offer, you must apply for a loan. It’s easy, the more so because it can be done in an extremely convenient online form as in the case of intermediary platforms. What’s more, some lenders have even more to meet the expectations of especially younger borrowers and provide smartphone applications to streamline and speed up the entire procedure.

Due to the fact that people under 40 are the largest group of borrowers, it is not surprising that now even every fourth non-bank loan is taken via a mobile device. In this situation, the effect of actions is really rapid. Procedures limited to a minimum – basically, basic data, such as name and surname, address of residence, as well as number and ID card number and series are sufficient. Another form of verification is a transfer for a symbolic amount of USD 0.01 or a request for confirmation of the last media fee. You should definitely check such issues before completing the application. One more thing – before signing the contract, you must always read it carefully.

Filling out forms on a website should also not cause any major problems, but young people, however, prefer quick operation through mobile applications that are characterized by an extremely simple and easy-to-use interface and transparent categories.

Minimum formalities and maximum benefits

Minimum formalities and maximum benefits

Simplified procedures are a great advantage of non-bank loans. Most often, a declaration of the amount of income obtained is required, sometimes even without the need to provide certificates confirming this fact. It does not matter whether the income relates to a fixed salary or pension, a pension, various types of benefits or other sources. This means that in some companies even casual workers can get a loan.

What’s more, due to the fact that the non-banking sector is not subject to the provisions of the Banking Act, but the Consumer Credit Act, the criteria for granting loans are definitely milder. It is known that low scoring in the database cancels the chance of getting a loan from a bank. In the case of the non-banking sector, it also happens that this database is not checked at all, and if it is already, a poor score does not have to result in a negative verification of the loan application. It looks similar with the economic bases – the debt they record does not mean that the loan application is automatically rejected. However, in such a situation, security will often be required, eg in the form of a pledge or surety.

In any case, to apply for a non-bank loan, you must complete the electronic form available on the company’s website or log in to the mobile application and follow the instructions that appear. Then you have to wait to verify your identity in the manner indicated by the lender. If there are no doubts, a positive response can be expected within a dozen or so minutes. Sometimes waiting a little longer, eg people with a bailiff may expect a more detailed check in the context of repayment of a financial commitment they have incurred or be asked for some form of security. One thing is certain – applying for non-bank loans is not only faster, but also easier compared to applying for a bank loan.

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