Non-bank loans are an offer for people who want to get extra money for various purposes. There is a perception that loans of this type are available to everyone – but is it really?
Compared to bank loans, those offered by non-bank companies have several advantages, but they also have their drawbacks. First of all, we associate them with payday loans, i.e. taken for a fairly short period – usually a month, but that’s not all. We also have installment loans that are similar to bank loans. We can then pay them back in convenient installments.
However, we must be aware that, like banks, non-bank loan companies have their specific requirements that must be met. They differ depending on where and how much and for how long you will want to borrow.
What requirements must be met to get a non-bank loan?
• valid ID card – one of the main requirements is having a valid ID card, so if its validity period has expired, you won’t receive a loan
• appropriate age – loan companies often have age restrictions, for example, a loan can be obtained by a person between 21 and 65 years old
• living in Poland – we can apply for a loan if we have an address in Poland
• adequate creditworthiness – although there is a perception that anyone, even the unemployed and in debt, can get a non-bank loan, it is not always possible – adequate creditworthiness is necessary
• positive credit history – recorded in BIK and other databases, allows to determine creditworthiness, when we had problems with repayment of installments in the past, we can be refused when applying for a non-bank loan
• bank account – when we want to take an online loan, we will need a bank account, preferably with online access to be able to make a verification transfer from it – we cannot then use the account of another person (some loan companies also use other verification methods)
• mobile phone – you need to verify your identity
These are the main requirements that we must meet when applying for a non-bank loan.
However, it is worth remembering that each company and in this respect slightly different requirements – the conditions for obtaining a loan together with the process of its receipt can most often be found on the websites of loan companies.
Loans on even lighter terms
As we mentioned earlier, in order to obtain a non-bank loan, we usually need an adequate, documented and stable income, for example from an employment contract, disability pension, retirement pension. In addition, we need a positive credit history – we cannot be listed in the debtor’s register.
However, there are loans granted by non-bank companies that do not require us to meet these requirements.
They are often referred to as a proof loan and a loan without BIK. We can also go to the pawnshop for money – then we must have a property that we can pledge.
However, such loans are associated with higher risk and higher costs, so it’s best to think about whether it is worth taking them.