There is probably no adult who does not know the concept of ” online payday loan “. Everyone can associate differently, some think of them well, others rather have a different opinion, but everyone knows what it is about. We didn’t necessarily have to use them to become familiar with their ubiquitous offers – be it on TV, the Internet or magazines. There is also a wide range of clients of these institutions. It is generally known what the financial situation of probably most Poles is.
Rarely, who can put aside the small ones, what not, for a more difficult time
That is why a significant part of them regularly use non-bank loans . You do not need to be a banking or accounting graduate to guess that if we have financial problems and it is difficult for us to make ends meet, then rather our creditworthiness will also raise many doubts.
In addition, banking procedures often overwhelm us and although we might have a chance for a small loan, the enormity of formalities that we would have to implement will prevail.
Non-bank loans are much simpler
Such products are easily available, the money is transferred to our bank account shortly after submitting the application, and is characterized by the minimum amount of formalities when submitting the application. In addition, almost every loan company in its offer has loans for zero dollars for new clients and unique loyalty programs for regular clients.
It is not uncommon for private loan companies to offer very similar to banking services. An additional advantage is that we often need small amounts to raise the household budget, and such amounts are much easier in parabanks. We are increasingly reaching for such small amounts and thus we contribute to the dynamic development of these companies.
Banks met the needs of customers and began offering payday loans
Of course, banks observing this situation have also met the needs of customers and for some time also in the bank we can find offers similar to payday loans in non-bank companies. We don’t need certificates, all we need is an ID card, and we can get a loan online with formalities limited to a minimum.
However, we do not have anything to count on if our history at the Credit Information Bureau is not very good, and it may be difficult if we do not have a stable income. Core Bank was a pioneer among banks in this respect. This product at Core Bank is also called online payday.
If you want to use this product, we will borrow only $ 1,000, with a repayment period of thirty days. Unfortunately, this is not a free loan as in most loan companies , on the contrary, it is quite expensive. We will have to pay back several hundred dollars more.
In addition, in order to obtain a loan from Core Bank, we must provide our data contained in the identity card, also indicate the details of your employer and provide information on the obligations we have incurred so far. On the other hand, in most non-bank companies, no one will require from us either the employer’s data or information on existing obligations.
Petin Bank is another bank that grants payday loans. However, to be able to apply for a loan at this bank, we must be new customers, we could not use this institution before. The Petin Bank offer is more favorable than the previous one. Here, we borrow from 500 to 2,000 USD, but the repayment period can be spread over up to 12 months.
In the case of this loan, we will meet with a free commission, zero interest rate and free insurance. The offer is very similar to a regular payday wage. However, it will not do without additional certifications. Banks do not want to risk, they need more collateral.
The bank will require a certificate from the employer about the amount of income. It requires more effort from us and revealing our financial movements to outsiders.
S-Postal Bank also offers such a quick loan. We can borrow from $ 300 to $ 3,000. The repayment period can be 12 months. We will need a certificate from the employer about the earned income, possibly a pension or retirement pension slip. However, we will not do any of these activities over the internet.
We must go to the bank’s headquarters and if the application is successful, we will receive the money in the cashier’s window straight to the hand. Unfortunately, the cost of this loan is very high.
Another offer of online payday loans that we can take from the bank is uBank’s proposal. We carry out all formalities via the internet and it does not matter whether we are new or old or if we are not uBank’s clients at all.
It is known that after positive consideration of the loan application, those who already have an account at uBank and are much easier to verify, they will receive money much faster than the others. At uBank, we borrow from $ 500 to $ 100,000. The repayment deadline must be at least 3 installments. And of course this is not a free loan, but its cost is not paralyzingly high.
If we are not a uBank customer, we must present a scan of income and employment certification. All other formalities can be dealt with online and, if the application is approved, you can have money in your account in no time.
Despite the fact that an increasing number of banks offer products similar in nature to payday loans, they are definitely more expensive and harder to obtain. That is why private loan companies definitely run in the field of payday loans.