The loan is a banking product granted by banking institutions – banks and cooperative savings and credit unions – based on the Banking Act. In accordance with art. 69 of the Act, by virtue of the loan agreement, the bank undertakes to make available to the borrower for the period specified in the agreement the amount of cash intended for a specified purpose.
However, the borrower undertakes to use it under the conditions specified in the contract. He is also obliged to return the amount of the loan used together with interest on the specified repayment dates and to pay the commission on the loan granted.
However, cheap loans are also advertised in the offers of many loan companies. One should take into account not taking a loan, but a loan. Therefore, cheap non-bank loans are nothing but cheap non-bank loans.
They are granted on the basis of the Civil Code. Article 720 of this Act indicates that through a loan agreement the lender undertakes to transfer the ownership of the recipient a certain amount of money or items marked only as to the species, and the recipient undertakes to return the same amount of money or the same amount of items of the same species and the same quality.
At the same time, if a cheap loan without BIK in the form of a non-bank loan is granted in the amount exceeding one thousand zlotys, the loan agreement requires to keep the documentary form.
How much can a cheap loan cost?
If we are looking for an offer for a cheap loan, we must specify what the commitment should be. Mortgage, cash and maybe consolidation loan. As a rule, we have cheap mortgage loans in banks, because they are taken with solid security, which is a mortgage established on a residential property.
A cheap bank loan with a mortgage is due to the fact that the bank is willing to grant a long-term commitment with a low bank margin and with a low commission, or even without it. On the other hand, cheap cash loans or cheap consolidation loans are sought after products.
If they do not have collateral in the form of a pledge or assignment of rights from the insurance policy, when granting them, the bank bears increased credit risk, which is compensated by a higher interest rate or commission for joining the loan obligation.
Loans that are granted online are cheaper because in their case banks and loan companies save on the lack of personal care and customer service in a stationary outlet. That’s why you can easily find a cheap cash loan online. For such a commitment, it is worth turning to your bank, where a cheap loan will be more easily available and the customer will be able to obtain it faster.
There are some restrictions on the number of costs associated with a loan
It is worth remembering that the relevant acts limit both the amount of interest and non-interest costs. Cheap bank loans are those with an interest rate of just a few percents.
Everyone would like to take a quick and cheap cash loan, but not cheap bank loans are for everyone. Only a person who has sufficient creditworthiness and good credit history in BIK can become a borrower in a bank. If the history at the Credit Information Bureau is negative and indicates existing, past-due debt, there is no reason for a cheap bank loan.
A cheap loan taken from a non-bank company will be real. The bank will not grant a loan to a person in debt with negative entries in BIK who does not have sufficient creditworthiness. The problem may also be the lack of any entries in the BIK. The bank does not know what to expect from the client.
Loan companies that offer cheap loans online actually provide non-bank loans. They have fewer requirements for customers than banks, so you can get even a cheap loan without BIK.