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Find a cheap payday loan

A normal loan application from the house bank takes a few days or even weeks from the check to the payment. For many consumers, the process simply takes too long, they need a loan as quickly as possible, for example to go on vacation or pay for important repairs.

There is a special form of financing for them: instant or payday loans. The term is somewhat misleading, “immediately” does not mean that the loan is paid out immediately. Of course, banks always require proof of collateral, which must be presented in writing. However, the providers of instant loans endeavor to process the credit inquiry as quickly as possible and then evaluate it. The usual examination procedure has been streamlined to such an extent that applicants can expect to receive a money order within a few days.

The Internet makes accelerated awarding possible

internet loans

Fast or express loans are a domain of online banks that have special loan applications on their home pages. Interested parties can submit the application online and submit it with a click of the mouse. The request is processed automatically and evaluated immediately. After a few seconds, the applicant will already receive confirmation with an acceptance or rejection.

If the decision is positive, all application documents will be made available for printing. This also includes a form for identity verification, the so-called Post Ident Coupon. It must be filled in and presented to a Deutsche Post employee together with the identity card. After the identity check has been completed, the documents are sent to the bank together with the proof of income by post.

This carries out a subsequent credit check immediately after receipt

credit check immediately after receipt

If the information from the online application is confirmed, the approval remains. In this case, the loan amount is immediately transferred and credited to the borrower 1-2 bank working days later.

As with all forms of credit, the following also applies to this loan: compare first, then close. On
Favorable payday loan comparison creates clarity about the current top offers and provides a clear summary of the most important conditions.

Free payday loans: what do you need to know about them?

Solutions such as free payday loans have already appeared in the native landscape of the loan sector. However, despite the growing popularity of “loans for free”, practice shows that customers are often still unaware of the basic mechanism of this type of loan.

So what is the most important thing to know about the free loan offer presented by some of today’s loan institutions? Let’s take a closer look at this issue.

Free payday loans – basic information

As mentioned, some of the loan institutions currently operating on the Polish market offer their clients the possibility to incur the first commitment according to promotional costs meaning APRC at 0%. Attention should be paid to the term “promotional costs” because it indicates the very important fact that free payday loans are always and without exception part of the promotional offer.

The possibility of using the promotion will, therefore, be subject to compliance with the promotional regulations. From the client’s perspective, this means above all the obligation to repay the loan before the maturity date of the liability, i.e. simply before the date indicated in the contract as the repayment date.

In the case of free payday loans, the procedure for submitting a loan application usually comes down to merely providing the customer with their personal data and declaring monthly income. So, as you can see, free payday loans are often also available to, for example, clients working under specific work contracts. However, some loan companies may require us to provide additional documentation, such as an income certificate. However, these are not common cases in the realities of today’s loan market.

When can a lender reject a free payday loan application?

First of all, only some of the loan institutions operating in Poland have a free loan offer. So, if a given institution, in principle, grants loans only then, according to the standard cost table – applying for a loan from the APRC 0% is obviously pointless.

In some cases, the loan application may require additional documentation. It depends on the policy the company has in this area, and sometimes also on the result of the assessment of the customer’s creditworthiness.

Most often, additional documents will be required from us when the lender has problems verifying our financial situation or if the data provided by us in the application does not match the information that the company managed to obtain about us. If in such a situation we do not provide the documentation requested by the lender, our application will, of course, be canceled.

In addition, the 0% APR loan offer is generally targeted at new customers. It means that if you’ve ever used the services of a given lender, the promotion will almost certainly not be available to us.