How much money can you borrow right away? This is the main question that people interested in loans without an income certificate ask themselves. The amounts are not very diverse when it comes to all companies operating on the market. The first loans without earnings certificates for new customers are granted in the range from PLN 500 to PLN 3,000. Of course, not every customer will be able to receive the largest loan. It depends on the internal decisions of the loan company. You can usually expect the loan to be granted in the amount of PLN 2,000, but it depends on the declared monthly income and expenses, which are borne by the household or a person who only has their own dependents.
How long will the loans have to be paid back without earnings certificates?
In most companies it looks exactly the same. These loans are granted for a period of up to 30 days. On the last day of the loan, you must transfer funds to your loan company’s account. Of course, this can be done earlier without any consequences. Of course, much worse if we are late with repayment of a cash loan. In this case, penalty interest is automatically calculated and added to your debt balance. To avoid this, just remember to pay back the debt on time and not worry about anything. However, if you happen to miss a loan repayment day without earnings statements, you should catch up as soon as possible. There are also situations in which we know in advance that the loan will not be repaid on time. For example, because the payment of remuneration has already been allocated for another purpose. the causes of such situations can be infinitely multiplied.
But what should you do in this case?
Remember that this is not the end of the world and you are not the first person who ran out of money to pay off debt. Loan companies struggle with such clients every day and cannot treat them without understanding. In order to continue working with them, they must agree to extend the loan repayment period by several days, weeks or even months. Of course, not free of charge and without any penalty interest. For this reason, all financial companies agree to compromise with clients. They allow them to extend their repayment time in exchange for a small fee. The fee may range from several dozen zlotys to several hundred, depending on the amount we borrowed and for how long and for how many days the loan is to be extended.
What does the bank determine the amount of loan they can grant their clients?
There are several factors that determine this. The first is creditworthiness. Creditworthiness is calculated on the basis of the amount of monthly income and expenses that a person possesses. For example, if your monthly income per person is PLN 5,000 and your expenses reach PLN 2,000, then your capacity is around PLN 2,000 to PLN 2,500. Each bank can use its own algorithm to calculate the capacity, but it is never equal to how much free money remains from month to month.
How does the bank know about the monthly income of a person who wants to take out a loan?
From the source document, which is a certificate of earnings. Such a document must be presented by every future borrower, along with a set of other documents required by the bank. Unfortunately, such a rigorous approach to calculating creditworthiness largely removes from the list of potential clients people who are not employed under an employment contract or do not have any other contract.
Having undocumented sources of remuneration is not binding on the bank, and granting such a loan to someone means that there is too much risk of it not being recovered. For this reason, the bank will automatically refuse to pay the loan if you do not have a legal and fully documented source of income. Fortunately, there is help for such people. These are loan companies. They operate as private businesses, specializing in granting various types of loans to private individuals. You can also get such a loan, and the best part is that you don’t have to waste time completing the top of documents, as in the case of bank loans.
Can they manage borrowed money freely?
Some banking products are very restrictive when it comes to how to use borrowed funds. They can only be used for a specific purpose – for example, buying a car or renovating an apartment. And how does this apply to loans without earnings certificates? Here, customers can count on much more freedom in managing the money that has been lent to them. Imagine the situation that you are planning to take your family on vacation this year. You haven’t been anywhere for several years and you decided it was time to change it.
You borrowed PLN 5,000 for this purpose. The amount on one side is not stunning, but you just need to spend a nice week at the sea or in the mountains. You receive money on your account, along with information from the bank that you need to document the issue of money with invoices – e.g. for the purchase of building materials. It’s true that you can get angry then? Your vacation plans can collapse in an instant. Private cash loan companies are not as restrictive. In fact, they don’t care what customers do with borrowed money.
Are they allocating them for current consumption or are they going to finance home or car renovation with them. For them only one thing counts. The loan should be repaid on time and the customer should be satisfied with it. This increases the chance of another loan, perhaps a larger one, and thus more profitable. So you don’t have to worry that anyone will want to settle you on how you spend your money. Any loan without a earnings certificate is flexible and allows you to manage your finances according to your own needs.
Do I need to insure loans without earnings certificates?
A lot of people are asking if private cash loans are still linked to compulsory insurance. No. This situation has not happened for many years. The fact, even more than 10 years ago, it was common practice to combine loans and cash loans with insurance against job loss or inability to do so. All this in order to secure the interests of the borrower and enable him to repay the debt even if he loses his current source of income. Today, such insurance is voluntary and you can use it or not, without incurring any consequences in this respect.
What you need to have to get loans without proof of income
What are the conditions for obtaining a cash loan from a private company? You must be a Polish citizen and be at least 18 years old. It is necessary to use an ID card and have a PESEL number. Both of these details will need to be provided in the loan application without income certificates. Then you will need to have the bank account assigned to you. It does not matter which bank the account was created in, but it is important that it is a bank operating in Poland.
For your convenience, you should be able to service your bank account online. This will make it easier for you to perform a verification transfer. Its value is a maximum of PLN 1 and you should have this amount on your account. You will also be credited with the loan to the same invoice number. You will need the account again, namely when the debt repayment day comes. With its help you will make a return transfer, paying back the borrowed amount of money along with any interest and other costs.
Where to find the best loans?
Once you know everything about the most important thing about cash loans without presenting income statements, you probably wonder who to take it with. After all, there are a lot of companies that provide them. Their offers are also similar, so it’s worth spending a little more time choosing the best one. What to follow? For example, in what maximum amount can the first loan be granted. If it is to be a higher amount than the competition, it is worth using this offer.
Also try to choose companies where the first loan for a new customer is free. Then you will not pay any interest on the money borrowed, provided that you give it back in a predetermined time. As for other matters, nowadays almost all companies operate online, accepting loan applications online and eliminating the need for a personal visit to the branch. An interesting fact is that an increasing number of companies, which until now had their own stationary branches, are deciding to close them.
It turns out that from year to year, fewer and fewer clients decide to visit field offices. This is good news, because their maintenance was expensive, and of course the costs were passed on to customers in the form of the highest maximum interest rate. Today, unpaid loans can be cheaper than ever and much easier to access without leaving your home.