The number of documents and attachments to a credit application submitted to the bank can make the customer dizzy. However, there are alternative, easier ways to incur financial obligations. It is worth mentioning installment loans, which can be obtained even online without any certification. How is this possible?
Installment loan online without certificates – what should you know?
Loan companies in Poland offer non-bank loans that can be taken without unnecessary formalities appropriate for the credit process at banks. Lenders are not subject to the supervision of the Polish Financial Supervision Authority, which is why they do not have to strictly check their clients’ creditworthiness and creditworthiness.
The offers of such companies include both payday loans, with one-time repayment at the end of the loan period, as well as installment loans. An installment loan without online certificates is most likely to be obtained from a non-bank company.
The installment offer has the feature that the repayment of the debt is spread over time, into monthly or even weekly installments, therefore it does not constitute an excessive financial burden for the borrower. However, you should be aware that, unlike quick, short-term loans with standard repayment principles, online installment loans without certification may be more difficult to obtain for the consumer.
In general, these products have a higher value than payday loans – up to several thousand zlotys. So if the customer borrows more than his monthly income, then the loan must be repaid in installments, and the application process takes longer. This is due to the fact that the loan company bears the increased risk of non-repayment in full of the installment loan.
In this case, a non-banking company must protect itself against this possibility and check whether the customer can really afford such a financial commitment. However, this does not interfere with the fact that an online loan without installment certificates can be offered. Control of the borrower’s assets is slightly different in nature than for loans granted by banks.
For whom online installment loan without certificates?
A quick online loan without installment certificates will be available to a customer who meets the following requirements:
- is at least 18 years old – or older, depending on the requirements of the loan company;
- has full legal capacity;
- is a citizen of the Republic of Poland;
- is not entered as an unreliable debtor in BIG, ERIF and KRD;
- there are no negative entries in the BIK (if the loan company checks the Credit Information Bureau databases);
- has a Polish phone number;
- has a bank account registered in its own name;
- has a stable, stable source of income in the appropriate monthly amount.
When applying for an online installment loan without certificates, we must take into account that the lender will want to check our credit standing and creditworthiness in a different way. When granting such a loan, the lender will want to guarantee timely repayment by the borrower. It will grant a loan to a person with fixed income, preferably from an indefinite employment contract.
While installment loan certificates are often not needed to obtain them, the lender may ask the borrower to provide employer information. He will be able to contact him directly and check if the client is an employee and how much he earns. As a result, the lender will assess his creditworthiness and decide whether to grant a loan and whether it does not exceed the borrower’s financial capacity.
The customer must agree to download data from the employer. Otherwise, the loan company will not be able to contact him.
Where is an online installment loan without certificates possible?
Non-bank companies operating on the Polish loan market are able to offer clients even long-term loans. As a result, an installment loan without online certificates can be repaid much longer than for 12 months – in some cases the loan period can be 48 months.