Non-bank loans are not only payday loans for several hundred zlotys, which you can borrow for a month or two. The offer of some quick loans can successfully compete with a bank loan. You can apply for a high amount, and after a positive decision you will get money instantly to your account.
Non-bank loans are not only payday loans for several hundred zlotys, which you can borrow for a month or two. Some quick loan offers can compete successfully with a bank loan. You can apply for a high amount, and after a positive decision you will get money instantly to your account.
This month, we reviewed quick loan offers to help you meet your bigger needs. We found out in which companies operating on the non-banking market you will get 10,000 PLN with repayment spread over 24 months. We have found almost 20 offers that match our assumptions. The factor determining the position in the ranking was the total cost of the loan that you will incur throughout the repayment period.
The cheapest non-bank installment loans
ZengaBank will give you the cheapest loan. The interest rate is 0 percent. per year. The only cost of the loan is a commission of PLN 2,070. It should be noted, however, that the amount of commission and the amount of loan granted by Wong to the client also depends on the creditworthiness. Apart from it, the client does not bear any additional hidden costs. The whole is spread over 24 monthly installments of PLN 502.92. When applying for a loan via the ZengaBank.pl website, you will know the decision to grant it within a few minutes of submitting the application. The loan is completely online. All you need to submit is an ID card and a mobile phone. ZengaBank does not require sending scans of documents, certificates from the employer or returning the contract on paper (in exceptional cases the client may be asked to send e.g. income certificate). For new customers, if the installment loan is repaid in full within 30 days, ZengaBank will not charge any costs.
The second place is occupied by the Snapi offer. In this case, the total cost will be PLN 2,400, and the monthly installment will not exceed PLN 517. For this loan, you can choose the installment repayment day. You can also suspend your payment by taking advantage of a “repayment holiday” and refund your money back earlier.
Carriedo was third on the podium. The difference in fees is already significant. The loan is more than twice as expensive compared to Wong’s offer. A loan of 10,000 PLN will cost you a total of PLN 4,160 and the monthly installment will be PLN 590.
Please note that the cost of a quick loan may be similar to the fees associated with starting and paying off a bank loan. For comparison, we will pay from 600 PLN to 1 260 PLN for a bank loan for a similar period and a similar amount.
The undoubted advantage of quick loans is the time when the lender will make the funds available to you. For bank offers, it will take at least a few days and you usually need to visit the bank. You will also be asked to provide documents confirming your income. By using the offers of loan companies, you can still have money in your account on the day of submitting the loan application.
Pay attention to the costs before taking out a loan. Unless the interest rate on the loan can currently exceed 10 percent. (this is regulated by law), the amount of other fees companies can set at any amount. You may encounter a commission for launching a loan, a preparation commission or a regular administration fee. You can easily compare offers by checking the total cost. You must also remember that the cost of the loan will increase significantly if you are unable to pay the installments regularly or you request an extension of the repayment period.
The ranking was prepared on December 7, 2017 based on the data of loan companies available on their websites. The cost of the loan and APRC for individual loans were calculated on the basis of lenders’ offers for a loan of PLN 10,000. PLN with repayment within 24 months.