For a small loan, we do not always have to go to the bank. Loan companies can make a commitment quickly, conveniently and without formalities, provided, of course, that we turn to a reliable lender. We advise how to find it.
Total loan costs
In advertising, we only get to know some of the costs of the loan, because they usually only inform about the nominal interest rate, which can not be more than four times the Lombard rate of the National Bank (for today it is 10%). The APR informs about the total cost of the loan, ie the Actual Annual Interest Rate, including nominal interest and other fees. It is its amount that allows you to calculate the actual costs of the loan. If the company that makes the loan does it online – on its website you will surely find a handy calculator, where you set the amount and the number of days during which you repay the loan. For example, on the Ekspres Kasa website, the first loan of up to PLN 1,500 is PLN 0, that is, the APY is 0%.
Customer verification mechanisms
When we think that a company is worthy of our trust, we must prepare ourselves for the fact that she also wants to check our credibility as a borrower. This is a completely normal process also carried out by banks. The lenders are primarily interested in data on our reliability in repaying liabilities, for which they can refer to the National Debt Register, the ERIF debtor register and BIG Info Monitor. Verification is a sign that the company wants to lend responsibly and depends on the stable financial situation of its clients.
The credibility of the company
This is the key if we want to make a fair transaction and receive your money. First of all, let’s check the legality of the company’s operations. It should be registered in the National Court Register and business activity register and have a Tax Identification Number (NIP) and REGON (identification number in the National Economy Register). It is also worth visiting the website of the Polish Financial Supervision Authority, which publishes warnings against unreliable companies. A good form of verification is also to check whether the company provides its headquarters and telephone number, and if we live nearby, it is worth visiting.
Bonuses for new customers
More and more loan companies offer customers very attractive terms of borrowing. In many of them, the first commitment can be obtained completely free, and therefore without costs and on the principle: you give exactly what you borrowed. Such a loan is a good way to check the company, and at the same time one of the cheapest ways to improve your home budget.
Opinions about the company
We should read the opinions on the web with sufficient distance, but they are also a valuable source of information. It is worth remembering that although companies can to a certain extent create positive comments about themselves, they can not remove bad opinions that appear in various websites. Therefore, before making a decision, it is worth checking the number and type of opinions about the company. If there are negatives, we can assume that the lender is trustworthy.