Loan companies, together with tightening the criteria for granting cash loans in banks, started to gain customers by building their positive financial results. It should be said that loans in these companies are granted at a much higher percentage than in banks. Despite the fact that both banks and parabanks are subject to the anti-usury law and the maximum ceiling on interest rates on loans and lending at the rate of 4 times the lombard rate of the National Bank of Poland. However, loan companies charge a lot of accompanying fees, which the banks do not do. Despite the high costs of bank loans, there are plenty of people willing to borrow, mainly due to the fact that you can take out such a loan for “proof”. Meanwhile, a similar offer can also be obtained from banks. How is this possible?
Making the cash loan market more flexible
The Polish Financial Supervision Authority, deciding to amend the Recommendation T, in 2012 at the same time undertook to make the cash loan market more flexible. It enabled banks to freely grant cash loans on simplified terms. In some cases, it is not necessary to present as many certificates and documents for cash loans as for a mortgage or consolidation loan. Customers who have already worked with a given bank have the best chance of getting a loan, eg they have a bank account with regular receipts.
Simplified lending procedure
If we want to get a cash loan quickly and we do not want to provide a whole stack of documents to the bank for this purpose, we should find out what conditions for cash loans can be offered by our bank, in which we have, for example, an open personal account. If for half a year we kept such an account and had a permanent income on the account, we can obtain a cash loan of up to six times the average wage in the national economy without unnecessary documents. This is a type of cash loan for evidence that is intended only for regular bank customers.