August 2019

 

Finding a cheap payday loan on your own can be a challenge. It is often unclear where to start, whose advice or hints to trust. Banker is an independent loan comparison service that lets you find the best loans online that suit your needs. On our site you will find proven lenders and cheap payday loans that you can get on favorable terms. Using filters, you can tailor searches to get results that exactly match your needs or age.

You can find various types of cheap payday loans online, including low or no interest rates. It is worth spending some time checking available options and comparing the costs of individual offers. However, if none of the found offers meets your expectations, you can use the services of traditional banking. At this point, it is good to highlight a few significant differences compared to online loans. If you intend to borrow for the total amount in a bank branch, you must first have a conversation with a bank employee. During the meeting you will have to answer numerous questions about the purpose of the loan, at the same time the bank will assess your creditworthiness. If the result of the conversation and the credit rating is positive, the bank begins to prepare the documents necessary to conclude the contract. These activities can take up to several days, after which you must go to the branch again, where you sign the loan agreement. Then the borrowed money goes to your account.

What is a loan?

A loan is an agreement between two parties. One of them (the lender) provides the sum of money to the other (the borrower). Thus, the borrower takes responsibility for the payment of a given sum, as well as interest and commission, in accordance with the concluded contract.

In the case of online loans, the process of borrowing money is definitely less complicated. At the beginning you have to fill out a form with questions including for your employment, income or housing situation. In addition, you must confirm your identity (for example, by transfer of 1 groszy to the lender’s account or via instantor). The lender then assesses your creditworthiness based on the information obtained. Finally, your status is checked in the BIK, BIG or KRD debt database. After completing the above actions, the lender makes the final decision regarding the grant of the loan. If your application is successful and you accept the loan terms, you can sign the contract and the money will be paid to your account.

How much does the loan cost?

It largely depends on the amount you borrow. In addition, factors such as interest, repayment period or monthly installments also affect the cost of the loan. To help you estimate the cost of borrowing money, we have prepared a loan calculator. Thanks to this, Banker gives you the opportunity to check how much your loan costs.

What can you borrow money for?

You can borrow money for any purpose. Lenders offering online loans rarely interfere with what you are going to spend your money on. So you can borrow cash for a new bike, computer repair, car, wedding, jewelry or an exotic vacation – it’s all up to you.

Why it is worth taking a loan online

Given the differences between the online lending process and traditional bank lending, it’s easy to see why online loans have grown significantly in recent years. Thanks to the online loan you get an instant response and cash is paid almost immediately. In addition, you do not have to secure a loan in case of inability to pay back the debt and nobody questions what you are going to spend the money on. Therefore, an online loan is a great option, especially when there are sudden, unexpected expenses that need to be remedied quickly. This may e.g. be related to covering the costs of rehabilitation after an accident or car repair. Whatever the reason, at Banker.pl you will find loans that can help you solve your problem.

cheap payday loan means good Loan?

Traditional banking was formerly a cheaper option, but now – although online loans can be more expensive – online lending offers benefits that banks cannot compete with. An online loan is unlikely to be the cheapest loan in Poland, but if you want to avoid numerous questions about the reason for the loan or you need instant cash, it may be worth the extra cost. However, if you care about the absolutely cheapest option, we recommend you read more about it on our website in the Loans tab, where you will find, among others loans with low interest rates. In recent years, banks have experienced considerable difficulties, which is why it is so difficult to get a loan today. If the bank decides that your financial security is not good enough, you can get a loan offer with a high interest rate and additional costs. Unfortunately, many people do not have the comfortable financial situation expected by banks, which is why so few people receive favorable conditions and favorable interest rates. That is also why online loans have gained an advantage over banks by offering more favorable terms and better solutions.

Who can borrow money?

You can take out a loan as soon as you are 18 years old. In addition, you cannot be registered as a debtor with BIK, BIG or KRD.

Why borrow online?

Borrowing over the internet is quick and easy, and does not require you to spend huge amounts of time and effort, as is the case with bank loans. In addition, lenders do not interfere with what you want to borrow money for. In turn, in the bank you need to present specific reasons and goals.

Are online loans expensive?

No, online loans are not necessarily expensive. However, they can become expensive if you don’t pay them back on time. However, if you regularly pay installments, these loans are not more expensive than the others

What to look for

When looking for the right loan, you should remember that the interest rate on the loan is only indicative, and you can check the exact percentage only after obtaining a personalized loan offer from the lender. Therefore, we advise you to apply to at least three lenders, because then you will receive several proposals tailored to your needs, from which you will be able to choose the best. Of course, you have the full right to reject an offer, provided you haven’t signed it before.

In terms of costs associated with the loan, it is worth paying attention to the details printed in small print. There you will find some mysterious concepts, but the most attention should be focused on the APRC, i.e. the Real Annual Interest Rate. It is an expression covering all costs related to the loan, expressed as a percentage of the loan amount per year. The APRC therefore consists of interest, administrative fees and numerous one-off fees, including:

• Preparation fees;
• Registration fees;
• Handling fees;
• Documentation costs.

Thus, the APRC is a way to compare different types of loans with each other, as costs such as administrative fees vary by lender. The APRC calculation method means that loans with a shorter repayment period have a higher APRC. This is because the preparation fees have a greater weight attached. On the other hand, loans with longer repayment periods usually have a lower APRC. It is also worth remembering that obtaining a loan from a bank may require the loan to be secured and the loan to be approved by the bank. That is why getting permission for a bank loan can be a challenge.

How much money can I borrow?

A large number of factors affect the amount you can borrow. It depends, among others on the type of loan. For example, the permitted amounts of car loan and payday loans vary significantly. On paper, there is no limit to the maximum amount you can borrow. However, it depends on your financial situation. An example of the impact of your financial condition on a loan is a credit assessment based on which you decide to grant a loan. Therefore, individual lenders decide for themselves (based on your credit rating) how much money they are willing to borrow.

However, if you are looking for a cheap payday loan online, you have nothing to fear. cheap payday loans for consumers are offered by numerous loan companies operating in the network, among others Vivus, Provident or Hapi Loans. Thanks to this, you don’t have to worry about securing your loan by pledging or questions about the purpose of money. In other words, you can confidently apply for a loan. However, there are a few important requirements to keep in mind:

• You must have a min. 18 years to apply for a loan,
• You must confirm your identity (usually by transfer to the lender’s account or via instantor)
• You cannot be registered as a debtor in BIK, BIG or KRD,
• You must have a stable source of income (preferred).

The age requirement is subject to a legal requirement that you must be at least 18 years old to enter into a legally binding contract. For people aged 18-25, finding the right offer may be difficult due to limited options. This is due to the volatile revenues that often characterize this age group, which creates additional risk for lenders. Banker has taken this factor into account, which is why you can use an age filter on our site to match your search results to your age. To confirm the identity of the lender usually require a transfer (this is the minimum amount, e.g. 1 gr). You can also confirm your identity via instantor. If you have a stable source of income, lenders will certainly look more favorably on your application because it means that you have the right “financial back up” and are able to pay back the loan on time. Also, if you share funds with your partner, it will work in your favor, as the responsibility is spread over two people, so you can even get a lower interest rate.

What is the installment?

The loan installment is the monthly cost of the loan, which consists of the principal installment (repayment of part of the borrowed amount) and interest installment (addition to the principal installment, depending on the interest rate, which is the cost of obtaining the loan).

Each of us has a harder time. If you were unlucky, you may have been on the debt register lists. These include the Credit Information Bureau (BIK), Economic Bureau (BIG) and the National Debt Register (KRD). Being registered in the debt database you have the label “unreliable customer” with which it is extremely difficult to apply for a loan. Obtaining a loan offer is virtually impossible for people with this status. Just because some companies are interested in getting you a loan doesn’t mean it’s a good idea. These types of contracts usually have a high interest rate, which can ultimately ruin your finances. For this reason, Banker decided not to direct users to lenders who grant so-called loans for those in debt.

The best advice we can give is to focus on paying off debts to existing creditors who have entered you in the register. In this way, you can get out of a difficult situation and enjoy the normal conditions for borrowers again. Permanent employment also plays a role in the borrowing process. If you’re considering getting a loan, of course, you need to think about how much money you want to borrow. If you come across a good offer with a cheap payday loan of PLN 10,000, think about whether a loan for PLN 7,500 is not enough for you, especially since it should cover your current needs. In case you need 20,000 zlotys, check out our website about consumer loan, which deals with loans for higher amounts. However, if you regularly lack money, we have some tips for you that may be useful:

• Analyze your expenses and see if you can reduce them. Pay attention to the subscription for telephone or internet, look for cheaper solutions.
• Card payments certainly make our lives easier, but often lead to ill-considered, hasty purchases. Check your card statements and think about whether you might have avoided some of them.
• Prepare a nutritional plan that will help you save on grocery shopping and reduce the frequency with which you make them. As a result, you will be less likely to be impulsive shopping.

If you are looking for a cheap payday loan with no interest, you should pay special attention to the other costs of the loan. Undoubtedly, an interest-free loan may be the cheapest option, but some loan companies are also choosing to increase initial and administrative fees, thereby earning money. There is also a free loan, which lenders often offer to new clients to gain sympathy and make them use the services of a given company again in the future. Thus, companies have the opportunity to earn on the next loan that the customer takes through them. The disadvantages of online loans are the additional costs that you incur in exchange for numerous benefits. For example, there are several options that you can use to borrow money unsecured online. However, the cost of such a loan is higher than for a bank loan as the initial charges, interest and the total cost of the loan increase. For this reason, it is very important that you look realistically at your options and have absolute certainty that you will be able to repay the loan on time. You should also check that the loan you have chosen has no hidden costs. Using the loan calculator, you can easily get an accurate repayment plan for your loan, including the amount of your monthly installments. This way you can see what the loan is for. Before you sign the loan agreement, you should prepare a budget sheet so that you can determine how much money you have at the end of each month. However, if you need help or answers to more specific questions, you may want to contact the lender directly.

Required age

The starting point for taking a loan is when you are 18 years old. This is a basic requirement that you must meet, otherwise you may not enter into legally binding contracts. However, it is often possible to borrow money before coming of age through parents or friends who do not have similar requirements.

Borrow money

Are you thinking about taking out a loan? Not sure whether to borrow privately, with family or friends, or can use the services of online lenders? The choices are really many. If you decide to borrow online, Banker will help you choose the right offer. We specialize in broadly understood online loans: payday loans, cash loans, consumer loans and other quick loans. Thanks to this, we can give you advice regardless of the type of loan you choose. We can identify offers that best suit your needs, as well as suggest where to look for a loan. In addition, you can check the exact course of your possible loan using our loan calculator. We also have articles and pages devoted to various issues from the world of credit, from which you can learn more about borrowing money and the course of this process. With us you can not only find a cheap payday loan, but also broaden your knowledge.

Car loan

On our website you can also find a car loan. You will even find a separate page on this topic. There you can find recommended offers for people looking for a car loan.

A loan for a summer trip

Through Banker you can find loans that will allow you to implement your vacation trip plans. On our site we have many offers payday loans and consumer loans. The main difference between these loans and a bank loan is that the loan companies that provide them are usually not interested in the purpose for which you borrow cash. Thus, you can instantly take out a holiday loan at Banker.pl.

Borrow money and make your dreams come true

With an online consumer loan, you can easily and quickly borrow money that you use to make your dreams come true. All formalities are handled over the internet, so this process is very smooth. The decision regarding the use of cash for a given purpose is yours alone. Regardless of whether you want to invest in a holiday home, motorbike, spend money on travel or simply provide yourself more comfort – a consumer loan has no specific purpose, so you can use it for any purpose. Learn more about this topic by clicking the link.

How often do you renegotiate the loan terms?

Loan costs rise and fall relatively often. The once good, favorable offer can change into an average over time. Therefore, pay attention to the changing circumstances and possible renegotiations of the contractual terms with the lender every year.

The loan is faster than a visit to the bank

With the help of Banker, you can be sure that the entire money lending process will run quickly and efficiently. We constantly select offers, among which we present the best and cheapest loans on the market. They all provide an online application and instant response to queries. One of the advantages of online loans is usually that you don’t need to secure a loan. You also don’t have to worry about detailed control, which makes it easier to get a loan. The application processing process takes place entirely online, starting with the form you must complete to provide the information necessary to complete the loan.

What to use an online loan for?

With an online loan you decide what to spend your money on. This is the basic difference compared to traditional bank loan applications. During the conversation with his representative, the first question directed to the client concerns the purpose for which he intends to take a loan. For this reason, obtaining a loan for ordinary consumption can be quite difficult. There are several types of online loans, so you need to be determined about its size and your intentions: are you interested in a short-term loan (eg payday loan), or something in the long run, such as a consumer loan. It is worth remembering that an online loan can bring many benefits, especially when:

• You earn less than usual temporarily;
• You have an urgent need to buy a specific item;
• You need money for urgent reasons, e.g. for car repairs.

When applying for a loan through Banker, lenders do not ask questions about the purpose of the money. So you have full freedom to spend your borrowed cash. This kind of freedom is not possible with traditional bank loans, where you have to explain your decisions and count on the consent of the bank.

Loans are constantly changing interest rates and sometimes they are 5% up to 10% per annum, but again at other times they are 1% – 3% per annum. Such changes occur as a result of economic cycles, and when the bubble begins to appear, creditors offer cheap loans and prices only fall, but when a crisis or recession occurs, interest rates are rising rapidly and creditors have to pay much more than at the time of borrowing.

Banks also offer a basically variable interest rate 

Therefore, banks also offer a basically variable interest rate or a constant bank interest rate and an additional floating Euribor rate, which means that you will have to pay more in this or when the crisis starts, as both interest rates will rise. But if you are able to get a loan with the same interest rate for the entire time of receiving the loan at a very low interest rate, then you definitely need to use it, otherwise it would be foolish not to use it.

This is exactly what governments are thinking when they lower their base interest rates to boost lending, because then individual interest rates will remain much lower. And I cannot disagree, a loan with a fixed interest rate of, for example, 3% per annum for the entire time of receiving a loan is too good for a service to not accept.

But with this credit you need to be careful, because at a time when such low interest rates are offered, something is wrong with the economy and you have to look at whether prices have risen sharply in recent years, because if it is then you are in an economic bubble and at the moment you will be losing this money.

Spend only part of the money and leave the rest

If, on the other hand, you borrow and spend only part of the money and leave the rest, then you will also be secured for the future as a reserve, because in a situation of recession, you will have free funds to either pay the loan and its interest or what to invest in very cheap properties and other commodities that will suddenly fall in price.

The key is that the credit has a low fixed rate, because if you take a loan at a floating rate, it may end badly and you will definitely get this rate during the crisis, and so your credit payments will climb, which is not pleasant if you already have your wages are decreasing everywhere, but you have to spend even more of your salary on loan repayment. So be very careful with these rates and thoroughly study them before you take your next credit.

Even if the bank says they offer a fixed rate

Ask how long it is and if they have a fixed rate for half a year or a year then it may be even worse because then at the time of the crisis you bet exchanged, but, for example, if it ends in the middle of the year, you will still pay a higher interest rate throughout the year.

So next time you offer a cheap credit you will thoroughly understand everything about these percentages and if they are low and you choose to get a loan, think about where and how you will spend that money! And if you are lucky, then it is possible that you will take the credit at the right time and will be able to buy the goods at much cheaper prices over time, but only if you have a fixed interest rate! But here we have to say that the economic crisis usually does not end so quickly and lasts.

An interest-free loan is a credit that does not have a commission or an interest rate. It is often referred to as a credit with a 0% commission or free credit.

This free name is logical because the borrower has to return exactly the amount of money he was borrowing. This means that you do not have to pay for this money loan service. It should be noted that such loans in two different forms are offered by lenders from both the banking and non-banking sectors.

Lending lenders in the non-banking sector offer quick loans

which for the first time are free of commission, or without any interest. This is a very profitable marketing strategy because potential customers often intend to be able to get even more credits under such conditions. This can be done if the customer borrows from another lender after each first interest-free loan.

Of course, the number of such lenders is limited and it would be best to re-borrow money at the most advantageous lender, because the business principles and customer service options are different. In turn, banks offer credit cards with an interest-free credit limit.

Each customer has a maximum amount of credit that he may spend on his choice, but the amount of money spent must be returned to the card account by the end of the current month or until a certain date in the following calendar month. If the amount is not refunded in full, interest will be charged for the delay.

Each bank offers its credit card customers very favorable discount

Plans and takes care of customer interests. Borrowing interest-free loans with bad credit history may seem problematic initially.

However, you have to think about different aspects that may affect the creditor ‘ s decision. There is no exact definition of bad credit history, because each person’s loan commitments are individual and it is not determined at what point in time the credit history can be called bad.

Bad credit history is one in which the borrower has had problems

With repaying previous loans or has started a debt recovery process. All of this information is seen by every creditor – it is studied in more detail by banks, but it is viewed by issuers of quick loans in general.

If past delays or indebtedness have been just a coincidence and, for example, a few days late payment, the creditor will definitely issue the loan. If the customer is able to prove his / her solvency in a reasonable manner and inform the creditor openly about his / her previous obligations, then in accordance with all the requirements.