People interested in cash loans pay attention primarily to favorable financial conditions, a quick decision and minimum formalities. At one time, ‘loans for proof’ were very popular. Can they still be found in the offer of Infra Banks?
Loans enjoy unflagging popularity among Poles. According to a report published by the Infra Bank Association, over the past decade we have increased our total debt threefold, with an average of 22,000 per adult. USD loan. As many as 72% of liabilities are cash loans.
Thanks to the digitization of banking, taking them is very simple, often it comes down to just a few clicks. This does not mean, however, that banks do not verify potential borrowers. In each case, before making a decision, they assess the risk and credibility of the client. The situation is different for companies outside the banking sector – although it is easier for them to obtain a loan, the high costs can lead to serious problems with financial liquidity.
For a loan, not only with proof
Loans are the primary source of income for banks. However, it cannot be said that they willingly entrust their funds to unverified clients. The most important issue for an institution is the credibility of the potential borrower. For this reason, there is no practical “loans for proof” present in the public awareness – the bank always requires a certain pool of documents that will allow it to conduct analyzes and make decisions.
The whole procedure, however, is not long and complicated – institutions are increasingly relying on our statements and declarations, and if the amount requested is not high, or we have been cooperating with a given bank for a long time, we can count on a quick decision and an immediate impact of funds on the account.
Documents required by the bank
Although the popular term “loan for proof” can be treated as some sort of mental shortcut or marketing ploy, in some cases, procedures are indeed kept to a minimum, and getting the required documents doesn’t make much effort. Some banks entrust their money to clients on the basis of an income statement – in this case it will not be necessary to obtain a certificate from the employer.
Some institutions also rely on a personal account statement – in that case you should prepare a statement of transactions for the selected period. An interesting proposition also seems to be a PIT loan – in this case the document certifying earnings is the tax return for the previous year. However, not all banks accept this method of verification.
Online cash loan
Most banks offer the option of taking quick cash loans online. It is best to check first the offer of the institution in which we have a basic settlement account. She is often able to offer an instant loan on favorable terms without having to carry out a creditworthiness analysis and provide additional documents.
It should be borne in mind, however, that in the case of this type of cash loans, the proposed amounts are definitely lower than those that can be obtained for products based on the standard credit procedure. So it’s a good way to get extra cash quickly.
What can disturb?
After submitting the loan application, it may be that the bank has issued a negative decision. The basic criterion in this case is the assessment of creditworthiness. It is influenced by many factors, including obtaining income and current liabilities (among them, apart from other loans, there will be also credit cards or guarantees). Age, marital status and current credit history are also of great importance to the institution.
Undoubtedly, the bank will download a report from the Credit Information Bureau (BIK), so it is worth ensuring that you do not have any arrears in paying off your current liabilities. A negative decision – although it is very negative – also really protects our interests: since analysts have decided that we may have problems paying back the loan, it is worth taking care of your finances and thinking again about the necessity to incur new liabilities.
Loans in loan companies
The situation is different for companies outside the banking sector. Most of them tempt customers with maximally simplified procedures: to take out a loan, all they need is their ID card details, in some cases enriched by an income statement. Often, you can close the entire procedure online without leaving your home. Then you will need an email address and a bank account number.
Some companies also offer relatively high loan amounts. In practice, however, it appears that the higher the sum requested, the higher the costs. In addition to promotional offers that guarantee zero interest on the first loan, APRC in some companies exceeds 100%. So it may turn out that a small injection of cash will turn into a big commitment, the settlement of which will be beyond our strength.
Credit plus minimum formalities
Although the popular slogan “loan for proof” sounds very attractive, it should also arouse suspicion. No bank offers its customers a product of this type – even if formalities are limited to an absolute minimum, the bank always verifies the identity, creditworthiness and credibility of the borrower. Thanks to digitization, obtaining a loan is very easy, and you can also complete formalities online.
First of all, it’s worth knowing what offer the bank has prepared for us, whose services we use every day. Usually, taking out a loan for a small amount involves a few clicks in the electronic banking system. Loan companies operating outside the banking sector are also an alternative.