How to get a Short-term loan?

Increasingly, Poles go to private companies granting short-term loans. Opinions about these companies are quite critical. However, this criticism mainly comes from people who have never used the assistance of a private offering lender the so-called.

Online Payday loan. Does such a short-term loan have to be expensive? Well, no, you can often get it cheaper than in the bank, and even for free.

Virtually all of us once had the opportunity to use any loan

Virtually all of us once had the opportunity to use any loan

You can borrow money from family, friends and also in the bank. Recently, it is very easy to get a loan from private companies, which are growing in our country. Competition among them is constantly growing, so they outdo each other in their offers. Some of these companies will grant us loans cheaper than in a bank – for USD 0.

Several companies providing short-term loans in Poland are able to lend us money completely free. The promotion applies to the first loan taken out by the customer in this company. So far, such promotions have been offered by such brands as E-Money and Via SMS. There are more and more similar institutions, so we can expect more such promotions in the near future.

Free short-term loan? So what should the lender earn? The loan company will only benefit if the customer is unable to repay the loan on time (i.e. within the set 30 days) and will extend the deadline – of course for a fee.

The promotion also aims to give the opportunity to check the operating principles and speed of service for new customers – so that they can return again for another loan if needed.

Short-term loans are granted for a period of 1 to 30 days

Short-term loans are granted for a period of 1 to 30 days

With the possibility of extension. Given the actual interest rate per year, it may seem unusually high. However, in this case, we borrow money for a short repayment period (reaching about the first month), and not for the whole year.

Considering the time, and therefore the speed of payment, the payday loans are unmatched. When applying for a loan via the internet, the money will be transferred to our bank account even in a few minutes.

Payday loans are usually given remotely, i.e. via the Internet or telephone – without leaving home. The customer confirms personal data by transferring a penny from his bank account to the lender’s account. The loan agreement is delivered by post or e-mail to the address indicated by the borrower.

What is a Current expenditure loan?

Still many people in our country decide to take out a loan just because they are running out of funds for current expenses. Although this should not happen at all, it turns out that this is a fairly popular temporary solution for financial problems. Let’s check where it is best to borrow money for current expenses?

Banks today offer a whole range of financial instruments that we can use during minor problems with current expenses. However, you should stick to the rule not to incur further debts in order to pay back earlier. This situation leads to a financial pyramid, from which it is difficult to leave. Temporary financial problems can be solved inexpensively by using financial products offered by the bank.

If we are the owners of a credit card

If we are the owners of a credit card

It will be the cheapest to finance current expenses with its help. Remember, however, to avoid withdrawing cash from an ATM, because then the bank collects enormous commissions on this account.

Some banks provide the option of making transfers from a credit card to a selected bank account – so we can pay home bills or transfer some funds to your personal account. Credit card debt can be settled in full or spread over monthly installments. The credit card is renewable, so after its repayment, the funds are still available to us.

Another solution is a cash loan, which can be used for any consumption purpose, and thus for current expenses. However, this is a more expensive solution compared to a credit card, because the bank often charges a large commission from us (interest rate on the loan). In addition, the cost of the cash loan also includes preparation fees and often compulsory insurance.

If we have a personal account at the bank


We can apply for a debit. It works on the basis of a credit limit, which, like a credit card, is also renewable. To use the overdraft, our pay must be regularly credited to your bank account.

The credit limit depends on our creditworthiness and the amount of monthly inflows to the personal account. This solution is great for settling current expenses, provided that we remember to pay back the debt.

Many people regularly use non-bank loans to finance current expenses. In this way, however, you can easily fall into a spiral of debt. In the case of para-bank loans, you should adhere to the principle that you do not take another loan to pay off the previous one.

If we’re going to use a non-bank loan once


It may turn out to be a good solution, especially since some non-bank companies grant each new customer their first loan for free.

When deciding on any current expenditure loan, remember that sooner or later the debt will have to be paid back with interest. Therefore, it is worth considering our financial situation in the future – will we be able to regularly repay the commitment? Maybe it is time to give up the unnecessary expenses, without which we could do without?

The most popular cash loans

Although the list of the most popular cash loans changes every year, Poles are still attached to the most known banks. Unfortunately, the offers of the most popular banking institutions are not the cheapest at all. Until recently, an attractive cash loan could be found at cooperative ticket office savings and settlement, but after the affair with Good Finance, clients often bypass these institutions with a wide-angle.

Unfortunately, the most popular cash loan offers are still not the cheapest. This situation is affected by many factors, which probably include customer confidence in the bank’s brand, large advertising campaigns very often with the involvement of well-known people, as well as access to branches/branches.

The cheapest cash loans

The cheapest cash loans

They are not the most popular also because it is much harder for them to obtain a positive credit decision. If the loan is cheap, the bank does not earn much on it – so it does not risk paying out the loan to uncertain customers, even those who have had past due payments.

A large sale of cash loans is generated by banks with significantly more expensive loans in their offer cash. In these institutions, it is usually the easiest to get a loan.

Advantages such as minimum formalities and the lack of the need to present a certificate of income generated attract a number of customers regardless of the price or cost of debt.

The sale of cash loans also depends on the size of the bank

The sale of cash loans also depends on the size of the bank

it’s capital and the number of branches. The largest institution of this type in our country is Good Credit, which is one of the leading banking institutions in Europe.

However, will we find a cheap personal account or the cheapest cash loan in this bank – unfortunately not? Therefore, when looking for the best cash loan for yourself, you should be guided by the APRC (the actual annual interest rate). It is also worth at the beginning of the search for an attractive loan, check the offer of the bank that maintains our personal account.

Each year, cash loans represent more than half of all bank loans granted. This is because they are the most available, they can be used for any purpose and rarely require security. And although bank cash loans have been offered alternatives in the form of non-bank private loans, those still interested in contracting the most popular bank debt are in short supply.