MonthFebruary 2020

Non-bank installment loans becoming cheaper

An online installment loan is an increasingly popular form of borrowing money. This type of financial product is most often taken online and in a traditional way, ie at the lender’s outlet. Currently, there are several dozen companies in the country offering installment loans. An installment loan is a convenient financial solution that allows a maximum repayment period of up to 4 years, depending on the loan amount. Most of these products are available entirely online without leaving your home.

Installment loans are one of the most popular financial solutions that allow you to get money for any purpose. This type of solution is recommended for people who need money to repair or replace broken equipment or really a car.

In the country there are many non-bank companies offering installment loans with lower costs than in banks. Everyone who wants to get a loan in installments should pay special attention to the basic costs. Such as: loan interest rate, commission or other costs. Cheap installment loans offered by non-bank institutions are a much cheaper financial solution than standard banking products.

Why are non-bank installment loans cheaper?

Why are non-bank installment loans cheaper?

On the non-bank market you can find both cheap and expensive installment loans. Similarly with bank loans – not all are cheap. Increasing competition among loan companies, however, means that installment loans are becoming an increasingly attractive alternative to payday loans and bank loans. An additional advantage of installment loans is the option of borrowing money online and simplified procedures.

More and more installment loan offers can compete with a bank loan. In addition, in a non-bank company you will receive money faster and without unnecessary formalities. Online loans are a great solution for people who want to borrow a larger amount and give it away for a long time. Non-bank installment loans are characterized by higher payments than payday loans and give the possibility of obtaining a higher amount of up to PLN 25,000, and have a long repayment period of up to 48 months. You pay this type of commitment in low monthly installments.

Installment loans competitive for banks

Installment loans competitive for banks

More and more people use the services of loan companies. Installment loans are especially popular. Non-bank loans are increasingly competing with traditional loans. This applies especially to installment loans. Installment loans allow you to borrow a large sum and avoid complicated formalities.

Installment loans over the internet are characterized by:

  • Possibility of spreading the debt repayment into convenient installments;
  • Low interest rate;
  • Simplified procedure;
  • Minimal amount of formalities – usually an ID card, account number and telephone number are enough;
  • A loan for any purpose;
  • The offer is available online, so you can take out a loan at almost any time, regardless of where the customer is;
  • Loan granted even on the basis of a contract for specific work, pensions, pensions or benefits;
  • Offers available on the internet – you can take out an online loan without leaving your home;
  • Money on the account the same day;
  • The loan is available from 18 years of age.