Anyone who is excluded from the bank credit sector (e.g. due to a lack of capacity) necessarily goes to loan institutions. Banks are reluctant to lend to clients employed under civil law contracts. Customers working on a specific work contract or mandate contract may have difficulty getting a positive credit decision.
Also, the unemployed or those living on benefits are not welcome in banks. There are also no chances for people with poor BIK scoring, which results from arrears in repayment of other bank loans, credit cards or debits in the personal account.
On the superiority of non-bank loans over loans
Many consumers who apply for online loans already have a bank loan. The Credit Information Bureau indicates that 79 percent borrowers also take out non-bank loans.
So why don’t they apply for another liability at the bank if they have the opportunity? This is due to several factors:
- convenience and time saving,
- minimum formalities,
- flexibility in customer approach,
- no fees for the first loan.
Convenience and time saving
Non-bank loans are granted immediately. The decision is made instantly.
Some non-bank institutions declare that the maximum period of verification of an application is only a quarter. In the event of a positive decision, the money is sent to the borrower’s account immediately.
Each loan institution has accounts in many banks, which significantly accelerates the withdrawal of funds. It happens that no more than half an hour elapses between sending an application and receiving money.
Minimum formalities when taking an online loan
Registering and completing an online loan application is very easy. The client does not have to leave the house, he does not need certificates from the employer, nor does he have to make an appointment with a loan company representative.
The matter is even simpler if the consumer uses the Instantor application. Then the loan institution will automatically verify the creditworthiness and personal data. The customer does not even have to make an authentication transfer.
Flexibility of loan companies
The non-banking sector has met the clients’ expectations and enables it to receive money into its own hands. Anyone who for various reasons does not want to receive a loan to their account, can pick up cash at the post office.
First non-bank loan free of charge
Such product is offered to new clients by most entities on the market. So the consumer can get as many free loans as there are companies with this option on offer.
Loans for free available are granted up to two months, and the record amount that can be obtained completely free is up to 6 thousand. zł. The condition for receiving payday loans for free is repayment of the liability on time. There are many loan comparison websites available on the internet that let you quickly and conveniently check which companies are borrowing for free.