If you need money, you care about time and you don’t want or can’t go to a bank or a loan company, online loans can be a great solution! Compare offers from different companies and check which one is right for you.
Loans granted via the Internet are available primarily in non-bank companies’ offers. It is these institutions that grant so-called payday loans or loans as evidence. They are characterized primarily by a minimum of formalities and easy accessibility. Remember! A loan is not the same as a loan.
Loans for monthly installments over the internet – what’s that?
The terms ‘loan’ and ‘credit’ are often confused with each other and considered synonymous. This is a mistake because a loan is a broader concept than credit. First of all, loans can only be granted by banks – no private person or company that does not perform so-called banking activities, he can’t give you a loan.
Both banks, natural persons and non-bank companies can grant loans.
The difference between a loan and a loan is, among others such that the loan agreement must be in writing and the loan agreement may be concluded even orally.
In addition, banks usually follow many procedures – they check Credit Checker databases, verify credit history and assess creditworthiness. Loans (for monthly installments, via the Internet or stationary), granted by loan companies, are characterized by a much-simplified procedure.
Loan for monthly installments – online or stationary? How to get a loan?
You can take out a loan from a non-bank company on a stationary basis, at the company’s headquarters or online. How to take a loan online (monthly installments)? Check it out:
- fill in the online application – you will have to complete a dozen (sometimes a little more) fields and provide information such as your name, PESEL, address (residence or domicile), bank account number, telephone number, possibly statement of income or employment;
- verify your identity – most often this is done with the help of verification transfer for a symbolic zloty or a penny. The idea is for the lender to be sure that the bank account details match those in the application;
- wait for the verification of the application – it takes a short time and often only takes a few minutes.
If the application is successful, the money can be in your account instantly.
Loan offers and lender requirements may vary from company to company. In one institution you can get a loan online only on proof and without checking the Credit Checker databases, in the other, you will need to present a certificate of income or employment. However, the procedure is considerably simplified compared to loans.
What you should know about payday loans online
- Online loans are often called payday loans because you can receive money in a short while and because you take out loans for a relatively short time – usually from a month to 3 years.
- Most often you can borrow from USD 100 to even USD 15,000. These amounts are lower than in the case of bank loans, but they often help to meet current needs.
- If you do not have a bank account or it has been seized by a bailiff, it may not be possible to take out a loan for monthly installments online. In this case, go to the company’s headquarters and submit an application on the spot.
Online loan (monthly installments) – what could be the consequences of late repayment?
Online loans are a convenient way to quickly inject cash. Remember, however, that, like any other commitment, you have to pay back your monthly installment loan online.
When you take out a loan, you will probably get an installment payment schedule that you will have to follow. You should also be informed about the consequences of exceeding the deadlines. Carefully check all the conditions and think about whether you will be able to settle the commitment within the prescribed period. Otherwise, you may have to pay additional fees, such as:
- interest for late payment of installments;
- costs related to enforcing claims (e.g. sending reminders);
- costs related to debt collection, court or bailiff proceedings (debt collection procedures are triggered when, after receiving letter reminders, the liability is still unpaid).
Therefore, in the case of loans for monthly installments over the internet, timeliness is extremely important.
How do you look for online loan offers?
If you do not want to waste time tediously browsing the pages with loan offers, use the payday loan comparison tool on the Good Finance portal. All you have to do is enter your loan criteria, e.g. amount and time, and the system will compare the parameters of many offers and present the results clearly.