Evidence loan why should you us it

The non-bank loans sector is developing dynamically on the Polish market. Despite this, many consumers still have doubts. Is a proof loan a good product? What should you watch out for when using non-bank financial companies? And is only proof really enough to get a loan
What is a loan for proof and for whom is it intended?

A loan for proof is a product well known to consumers, which is offered by loan companies present on the Polish market, and the numbers can prove this. According to the information of the Credit Information Bureau, only in the period of January-May 2020 loan companies cooperating with BIK granted over 878 thousand. loans for a total amount of over PLN 2 billion.

Evidence loans differ in terms of availability from well-known loans. Non-bank lenders use more flexible criteria for assessing clients' creditworthiness, because they are subject to the provisions of the Consumer Credit Act and the Civil Code, and not the provisions of the Banking Act. Thanks to this, a loan for an ID card is also available to those who earn a small but stable income.

Who is the loan for proof intended for? Anyone who needs additional funds can use this product. First of all, a quick installment loan online is a good solution for people who have:

Urgent expense and therefore in need of money immediately. Non-bank companies cooperate closely with the technology industry, thanks to which the application submission and examination procedure is carried out entirely via the Internet. This, in turn, means that you can have money on your account within a quarter of an hour of receiving a positive loan decision.

Steady and documented income. Bank analysts pay attention not only to the stability of the income, but above all to its amount pożyczki na dowód. The outbreak of the coronavirus caused many banks to tighten their lending rules, which means that some customers have no chance of getting money from the bank.

When analyzing the creditworthiness of future clients, loan companies take into account not only the amount of their earnings, but above all their regularity. The financial credibility and good credit history (it is worth starting to build it as soon as possible) of the potential borrower is important.

Problem obtaining earnings certificate from employer. Employers are not required to issue such a document. In turn, as the name suggests, a loan for proof is a product that can be obtained without the need to provide income statements or bank statements. In most cases, a earnings statement is sufficient to obtain a loan.

Before applying for a loan with a loan company, it is worth familiarizing yourself with the formal requirements that lenders set for their clients. It is also good to analyze your financial situation to make sure that we can afford to pay the debt.

Can an ID loan be better than a bank loan?

There is a lot of competition between companies that offer installment loans and proof. This, in turn, means that each of the lenders tries to create an offer that is beneficial to customers. In many companies you can meet with the so-called free loans for new customers. How do they work Free loan for proof means that the customer gives back exactly as much as he borrowed - the installment is not increased by the additional costs that most often occur in the case of loans, i.e. interest or commission.

Loans offered by non-bank companies may be interest-free, as this option is provided for in the aforementioned Civil Code. This, in turn, means that companies offering installment or proof loans can create a better deal than many banks that do not have such a promotion.

All you have to do is apply for a free loan. Consumers must remember about the need to meet formal requirements. Belong to them:

No use of a loan for proof in an earlier period. Free ID loan is only available to new customers whose personal data does not yet appear in the customer base of the loan company.

Choice of loan amount in the range offered by lenders. Most lending companies offer lower amounts to new customers than to old ones who return for a loan.

Despite the apparent attractiveness, the free first loan also has its drawbacks. First of all, as we have already mentioned, only new customers will benefit from it. Secondly, it often relates to lower amounts than a standard installment loan. And thirdly, free loans have a short repayment period. If we do not return the money within the required time, we will be charged all fees related to such a loan.

Although proof loan is the flagship product of loan companies, it has been on the lenders' offer for some time