If you are interested in new quick loan options, a grace period loan can also be attractive. Understanding how this type of loan works is a key aspect. The grace period means that the repayment is postponed, so after it expires you must be prepared to settle the debt. Usually you can decide on the length of the grace period. There is also a difference between a loan with a fixed and variable interest rate. If the interest rate is fixed, you can be sure that the interest will not increase when you repay the loan. It also happens that you pay an additional price for insurance, included in a fixed interest rate throughout the entire repayment period of the loan, so the total repaid amount turns out to be slightly higher.
Both current and new clients of individual loan companies may experience stricter regulations in 2019. Many companies have introduced a transitional and interest-free period limited to 90 days. There is also a widespread absence of loan insurance. These types of loans are an interesting alternative for people who need immediate cash and are certain that their financial difficulties are only temporary problems. For example, it could be a student who knows that after graduating from university he will start earning money and will significantly improve his financial situation. So the advantage for all customers is the fact that the vast majority of loans can be repaid at any time.
Which loan should you choose in 2019?
It is difficult to clearly indicate which loan is best to choose in 2019. Similarly, it is not easy to decide that one type of loan outweighs the other. Finding the best loan is an extremely individual matter and depends primarily on your particular financial situation.
One of the noticeable trends this year is the growing number of free loans. This is a frequently used strategy for debuting loan companies. Thus, most of these free loans are offered by new companies. They are counting on gaining popularity on the market by offering a first loan with no additional fees, commissions and interest-free. Of course, you can get a free loan only if you can pay it back on time. This is often a small amount that has to be repaid in a short time. It can be said that this is a mutually beneficial agreement. If you take out a loan in the traditional way, you may have a long waiting period, but this is not the case for online loans. Loan companies then have the opportunity to demonstrate the services they offer in terms of the contract and how quickly the customer receives the help he needs in case of problems.
What does free loan mean?
Of course, a free loan does not mean that you can get the money “for free”. It just means that you don’t have to pay interest on your loan. This usually involves borrowing a small amount of money, with a short maturity (usually one month or less), and paying off all debt over that period. If you succeed, the loan is free and you don’t have to pay interest.
Why you should choose an internet loan
When using a traditional banking institution, you need to make an appointment at the branch, meet with a bank employee and explain why you want to borrow money. Based on the information you provide, the bank assesses your creditworthiness and determines the risk of lending you money, in other words, the likelihood that they will recover that amount. So the process of getting a loan from a bank is extremely long and uncomfortable. It is therefore not surprising that the popularity of online loans has grown in recent years. For online loans, you have a short response time, quick cash withdrawals, and few requirements to meet. With an online loan, you don’t have to worry about explaining what you are going to spend your money on, or the need to insure your loan by pledging real estate or a car. Currently, unsecured loans are gaining popularity. This is a beneficial solution, especially in the event of unexpected expenses, such as car repairs or a visit to the dentist at the end of the month, when there may be no more money.
New means better?
New loan offers on the market are often better and cheaper than “old” loans. This is due to the high competition on the market, which means that loan companies are forced to make considerable efforts to keep interest rates, commissions and other costs low so as to attract as many customers as possible.
There are several requirements for individual creditworthiness assessment that you must meet in order to apply for an online loan :
- You must be at least 18 years old;
- You must confirm your identity with a valid photo document (ID card, passport);
- A stable income and stable financial situation are an advantage;
- You cannot be registered in BIK.
You must be at least 18 years old to be eligible for an online loan. Otherwise, the contract concluded by you is not final. For people under 25 years of age, the choice of loan may be very limited due to the lower and often less stable type of income than for older people. For customers of all ages, Bankeros has designed its search engine to show only loan offers available for a given age group. The entire transaction is carried out via the Internet, but it is very important to confirm your identity with a valid photo document. This way you can prevent fraudsters who could illegally take out a loan in your name.
When submitting a loan application to one of the non-bank companies, you must provide the necessary documents and information necessary to conduct a creditworthiness test. A stable source of income definitely works in your favor as it increases your chances of paying off the loan on time. The better your financial situation, the better loan offers you can get. All calculations determining the loan offered by non-bank companies are made based on your income and current expenses.
Is it worth choosing a new loan version?
You should opt for a new version of the loan if you want a cheap loan. Nevertheless, it is the cheapest only for a small amount and short repayment period. You can even find a free loan in the new version, as long as you repay this small amount in a short amount of time.
When is it worth changing the form of your loan?
It is worth considering a change in the form of your debt if you see a financial benefit in it. Similarly, it may be a good idea if your financial situation has changed. There are usually two reasons why people decide to change the form of the loan. The first concerns a situation where you need more freedom and breath in terms of daily expenses. For example, when you need money here and now. In this case, you may consider entering a grace period or creating a new loan with a longer repayment period. The second reason is when you want to pay back more money on your loan. Then you can withdraw the grace period and repay your loan in installments. You can also create a new loan with a shorter repayment period.
Loan without BIK
Many people struggle with financial problems. If you find yourself in such an unfortunate position that you will be registered in the National Debt Register (KRD), Credit Information Bureau (BIK) or Economic (BIG), obtaining a loan may be extremely difficult to realize. These are letters containing the names of unreliable clients – people who have not fulfilled their obligation to pay their debts. Loan companies are reluctant to look at clients who are on the debt register because there is an increased risk that they will again be unable to pay back the loan they have taken out.
Despite this, there are still companies that decide to grant loans to persons registered in BIK. However, this is done under extremely unfavorable conditions – with an extremely high interest rate, additional preparation costs and a high APRC before tax. Such a loan can have dramatic effects on a person’s unstable budget. For this reason, Bankeros decided not to include loan companies that offer loans despite their negative status on BIK lists.
Instead, we encourage you to settle past commitments that led to you being entered in the debt register. By getting out of the BIK list, you can improve your situation, thanks to which you will be able to apply for a loan on a normal basis in the future. Debt consolidation can be one way to do this. Thus, the total amount of your liabilities is collected under one loan company, and you have more control over the costs of your debts and monthly loan fees. You can check your BIK status here.
The interest rate provided on the Bankeros.pl website is indicative. When completing the loan application, the lending company carries out a credit assessment and based on it creates an offer tailored to your needs and an individual interest rate for you. If you decide to accept the offer, the money goes to your account extremely quickly. Due to the process described above, it is recommended to submit a loan application to at least three loan companies. In this way you can choose the best, the most favorable among the appropriate number of offers you will receive. This is the most-used method of loan application.
New loans – January 2019
Our activities are aimed at constantly providing information on new loans in Poland. The latest loans on our site are Bonus and Unofinans loans. If you want to receive more information about the latest offers available, subscribe to our newsletter and be one of the first people to get a message about a new loan !
New opportunities are coming and a new online banking system
On the market in Poland you can find both recognizable loan companies as well as less known enterprises that can offer new opportunities. For example, new payday loans in 2019 were created thanks to companies from Poland or branches of well-known foreign companies starting their business in the country. For example, Pancor, which is part of Bankate, one of the largest banks in the world, employing over 190,000 employees.
The situation is similar for one of the new and also significant players on the payday market. The Norwegian bank in question is derived from the well-known Norwegian airlines, which have achieved considerable success in both the travel industry and loans. Simore and Nofal are examples of loan companies that do not come from any major corporation. Like all financial institutions in the country, the loan companies presented on our website are approved by the Polish Financial Supervision Authority (KNF). The PFSA’s task is to check if the company operates in accordance with the law, so you do not have to worry about borrowing money from less-known companies.