A payday loan is the most important product of loan companies. It was thanks to them that they gained popularity years ago when the non-bank financial services sector was in its infancy. Since then, Poles have been more and more willing to take advantage of various types of loans. Online payday loans are by far the most common.
Payday loans replacing loans are often more easily available, money can be obtained quickly, and thanks to comparison websites like ours, it is possible to verify which offers are attractive. What should you know about payday loans?
A payday loan is a financial product found in offers of non-bank financial institutions. Among the most characteristic features is that they mostly relate to small amounts. Unless the customer intends to apply for payday installments, then you can deal with higher amounts. Another typical feature is the small formalities. To get money as part of payday pay, you don’t need as many documents as in banks. This means two things. On the one hand, customers who cannot count on the help of a bank can expect support from a loan company. On the other hand, a small amount of formalities means that the whole transfer verification procedure takes much faster. In the best cases, the customer only has money within a quarter of an hour from the moment the application is submitted. A payday loan is associated with something, for a moment it really is. As a rule, the loan is for a few or several days. However, there are offers in which this time is longer. There are also payday installments mentioned.
Find your perfect payday loans online
Attention is now being paid to ensure that all procedures last as short as possible. Many people focus on maximum time savings. Loan companies are aware of this, so their offers include payday loans online. They fit perfectly into the needs of the modern world and to settle everything as soon as possible. In their case, it is enough to go to the website of a particular loan company, complete a short application, wait for verification and transfer.
Not only does it save time by not having to go to the company’s headquarters, but also the application is structured so simply that no one will have a problem with self-confirmation. It can be folded anywhere and anytime. And the verification will be immediately on the first business day. In some cases, companies work around the clock. Most often, it is enough to have an ID card, over 18 years of age, a telephone number, and a bank account.
Quick payday loans online
A quick payday loan can be on the borrower’s account on the same day! Not only that, payday loans can be requested at any time, some loan companies also provide their services at night and on weekends. This is an excellent proposition for people who need money in the shortest possible time. It is important that in some cases quick payday loans are also loans without BIK and do not require any certification. Many people have some backlog and suddenly need money. They have nothing to count on the bank’s support, so they are looking for alternatives. Due to the fact that the demand for payday loans is increasing, there are more and more companies that provide their services around the clock.
Payday loans for companies
Payday loans are services that are used not only by individuals but also by companies. Young entrepreneurs have financial problems. Regardless of income, they have to pay taxes and ZUS contributions, it happens that their client has not paid the invoice or companies have an idea for further development. It would seem that the easiest solution would be a visit to the bank. However, young companies lose their credibility due to a lack of financial liquidity. Loan companies can, however, offer payday loans on preferential terms. Loans for companies are currently only in some financial institutions, but you can suspect that this will change. You can choose mainly pay installments, payday loans up to 30 days or against collateral. The conditions and costs themselves are similar to those prepared for private customers.
Payday loans in installments
Although payday loans in most cases relate to short-term loans, the demand for installment payments is increasing. Instant payment allows you to borrow a higher amount while paying off much more slowly. This means that the risk of debt is decreasing. A smaller installment is a smaller burden on the budget and it is easier to find funds for it, even when you have temporary financial problems. As with ordinary payday loans, the decision is made quickly here and you can have money in 15 minutes. However, the number of installments can be from 3 to 60 months. To find the option that best suits your personal needs, it’s worth reviewing the payday rankings.
By the way of installment loans, it is worth noting that those for a year or two are the most popular. However, few customers decide on the maximum period. What it comes from? You can never predict if there will be major problems in the future and repayment of payday loans will not become problematic. You can always try to extend the repayment time and reduce installments. However, if at the outset the contract concerns the longest period, the extension is not an option. It is, therefore, a certain security buffer.
What are the benefits of payday loans?
The fact that payday loans are so successful is not unfounded. This financial product has a number of advantages. Most of them result from the fact that loan companies work on the basis of the provisions of the Civil Code, and not as banks of the Banking Law. Thanks to this, they can be much more flexible and reduce the number of formalities. This, in turn, means that money can be borrowed by people who have not had such an opportunity so far. A civil law agreement, presence in BIK, or insufficient creditworthiness are the basic reasons why refusal is granted to a bank. When credit is impossible, payday loans can be granted as much as possible. Each application is considered individually, and for many people, money is at hand.
The second advantage of small formalities is time. Compared to loans, online payday loans are almost available immediately. Because you do not need too many documents to verify the customer, a transfer can very efficiently go to his account. In addition, loans always come with costs and interest. While reviewing payday loans, the ranking also includes free offers. If the customer has not previously taken out a loan in a given company, there is a high probability that he will not incur any additional costs.
Payday loans: loan versus loan
Loans and credits have in common that they are two financial products. Both are about borrowing money. At the same time, the loan can be taken only in the bank, and payday loans are offered by non-bank financial companies. There are many differences between the two services. They result from the fact that banks work in accordance with the Banking Law and the Civil Code and thus must comply with many restrictive regulations, which often prevent them from creating an individual offer. On the other hand, loan companies must operate only in accordance with the provisions of the Civil Code and do not have to comply with the Banking Law. This gives them enormous opportunities, and thus they can create offers that will be best suited to the needs of a specific group of customers.
To get a loan, you need to meet more requirements than with loans. The source of income counts – in the best situation they are employed under an employment contract. The worse are the people with the commission contract, the work contract, and entrepreneurs running the company. Creditworthiness and credit history are verified very carefully. Any ambiguities or negative entries result in a negative decision. Often, even if it looks like there is a good chance for a loan, the customer leaves with a pass. On the other hand, payday loans are even available to people who have financial stumbles. Not only are they treated more favorably than at the bank, but they can also expect interesting proposals. They may also have other sources of income than just a contract of employment.
Comparing the cost of loans, most options will be similar, while loans can be very different. There are always costs and interest rates for loans, and the first loan can be free. Provided that it is taken for the first time in a given company. Each subsequent one will be associated with costs. The difference between a loan and a loan also applies to the waiting time. In the bank, because of the multitude of formalities, you wait much longer for both decisions and money. In turn, requests for internet payday loans are verified immediately and the same way money is immediately received.
Requirements for receiving payday loans online
Loan companies can be much more flexible towards customers than banks. It also means that they have more room for maneuver when it comes to requirements. By analyzing the ranking of payday loans, you can pre-assess with which company the client intends to cooperate. Not only that, our payday compare engine contains information such as the maximum repayment date, whether BIK works during verification. This is important information for someone who has had problems with the timely payment of previous obligations. BIK and other debtors ‘databases are always checked by banks, but the requirements for loan companies’ clients are lower.
In most cases, the requirements are limited to being an adult, possessing an ID card, a mobile phone, and a bank account. Sometimes you also need to prepare a bank statement or a certificate from your employer. To get internet payday loans, no employment contract is required, but the income itself. It can be a contract for a specific work, retirement or other benefits.
How does the verification work?
One side of the coin is whether the formal conditions are met, but the other side is whether the customer passes verification and gets the money. It happens that payday loans are only obtained in the third or fourth company in which the loan application is submitted. Just because loans are less demanding doesn’t mean anyone can get money. The loan company must ensure that the client will be able to repay its liability. Depending on the institution, the verification may be slightly different.
Often the best payday loans can be obtained when verifying a customer at BIK, then the conditions are the best. However, finding payday loans without BIK is also no longer a problem. Then the age is checked. Some loans have been around for 18 years, others for 21 years. The bank account is also checked, based on the transaction history you can see the regularity of the account receipts. Revenue verification also plays a big role. It may or may not be a certificate from the employer. However, as with loans without BIK, payday loans without certificates may involve additional costs. This is due to the fact that cooperation involves potential risks.
Payday loans over the internet
Since loan companies make a living by borrowing money, it is obvious that they have to make money from it. But the costs look a bit different. To encourage borrowers, the first payday loans online in a given company are free, the next payday loans are associated with costs. Higher costs have to be taken into account for loans without BIK and without certificates. Nevertheless, all the rest of the offers also have some extra amounts included. The better you analyze them, the more it will be a conscious decision and there will be no surprises, and repayment of payday loans will be easier.
The contract should contain all the information, so before signing it, you must carefully read each point. Fees to be taken into account are commission, interest, preparation fee, APRC. It’s always best to look at several different options. It may turn out that the difference in the final amount to be repaid is significant.
Where and how can you get payday pay?
A payday loan can be taken in a variety of ways. You can go to a branch of a loan company, which is most often used by people who prefer traditional solutions and do not trust the internet. But much more often payday loans are taken via the internet, which means little formalities and time-saving. To do this, just look at the ranking of our payday loans prepared by us, and then go to the website of the selected company, where there is a simple form to fill out. With payday loans, money is credited directly to your account. However, when deciding to visit an establishment, you rather get cash.
Interestingly, payday loans can also take the form of private payday loans. This means that it can be given by any natural person. It can be someone you know or a stranger, but you also need to draw up a contract that will protect both parties. While a family loan is not unusual, you need to be very careful with loans from strangers. There is no shortage of situations when it is necessary to pledge the property, or even before the money from the payday loan arrives, repayment is expected. Private loans are at a much higher risk than those proposed by loan companies, so all the more they should be treated as a last resort.
Payday loans companies
The safest solution is to work with a loan company with a good reputation. In the past, fraud, and abuse often occurred, and borrowers found someone dishonest. At this time, the company can be easily checked. First of all, the institution granting payday loans must have contact details or tax identification numbers on its website. He must also have permission to grant loans, which is granted by the PFSA. If the company is not listed, do not cooperate.
It is also worth emphasizing that loan companies work in different ways. Until recently, online payday loans could only be taken during the week, and applications were processed only on a business day. Currently, there are plenty of companies that advertise themselves by providing loans 24/7, which immediately met with great approval among customers.
Best payday loans – how to choose the right offer?
Looking for payday pay, everyone wants the offer to be as profitable as possible. Comparing the payday loans based on our ranking will help. In a short time, you can display a list that lists the maximum amounts that can be borrowed, repayment date, and whether the customer is checked in BIK. For every customer, the best online payday loans can mean something different. The most important thing is to adjust the loan amount to your needs. The same applies to the repayment date, and if you know that one-time repayment will be difficult, the best payday loan will be in installments. What counts is the time you get money. The shorter the better. The same can be at different levels costs, and the lower they will be the more profitable payday.
Payday loans concern different amounts and should not be exaggerated. If you need several hundred zlotys, it’s not worth choosing 2,000. One cannot forget that money must be given back soon.
Online payday rankings – how does the offer comparator work?
The principle of offer comparison is simple. The customer visits our website and looks at our instantaneous rankings. Only credible companies and the best offers are included. By specifying your repayment requirements and options, you can quickly compare different offers and choose the best one. Using the payday compare tool has many advantages.
First of all, all payday loans, which are well rated by borrowers, are in one place. This means that the customer does not have to browse many websites and waste time looking for and comparing offers on their own. Instead, it has in one place a set of proposals that value recognition and are verified by specialists. This is associated with another important advantage. Thanks to our knowledge and experience, the ranking of payday loans is provided only to reliable institutions. It means a security of cooperation. The customer does not have to worry that one of the companies is unreliable.
New payday loans on the market on the market
Loans are available to a much wider group of customers than bank loans. Therefore, the demand for this type of service is constantly growing. That is why there are new payday loans on the market that encourage you with their good conditions. Regular customers of loan companies have no difficulty in reaching new offers on their own. However, they can be seen much faster thanks to our comparison tool.
New payday loans are regularly included on the internet, and because they are carefully verified, only honest companies are included in the ranking. Before signing the contract, it is worth verifying that there are no new offers in the comparison engine. It may turn out that they are much more attractive to a given customer than others. Loan companies are seeking new clients, so they often create new offers and promotions where you can save a lot.
How is the payday ranking created?
Ranking of payday loans allows you to immediately compare the financial products of all good loan companies on the market. Because the needs of customers differ in many respects, the offers appearing in the comparison engine present a great variety. Every day, finance specialists track market information, analyze and compare. Therefore, the ranking of payday loans is a guarantee that you review reviewed and verified proposals.
Using our comparison tool guarantees the consumer that he is reviewing honest lenders’ proposals. We made sure that the comparison was convenient and intuitive. You can immediately see the most important parameters of a specific payday loan. Thanks to this, some offers can be rejected immediately, while others tend to take a closer look. Then just move the cursor on the “check” button to visit the website of the company. This solution means the maximum of time-saving! In addition, the database is constantly updated, so if there are new online payday loans on the market that are worth attention, our payday rankings will also take them into account.
What to look for when choosing payday pay?
Due to the fact that payday loans are one of the most popular financial products on the market, loan companies have prepared a lot of short-term loan offers. Each customer has different requirements for payday pay. However, there are several parameters that you always pay attention to. First of all, these are costs, which have already been mentioned above. The amount of APRC or additional fees can vary a lot. There may not be any of them for the first loan.
In addition, it is very important what the repayment looks like and the consequences if the deadline is exceeded. Loans are often attractive and profitable, and sometimes they are cheaper than loans, but this is the case until you have no debts in the loan company. Then payday loans online are no longer cheap, and the costs increase drastically. Following this path, when the customer knows that he needs a large sum that he will not be able to repay in a single period of up to a few weeks, it is best to immediately review the payday installments.
Another important thing is to sign a contract with a reliable company. It’s best to use our ranking. However, nothing prevents you to start acting on your own. To do this, you must carefully verify the company, its website, and its legality. Each loan company must have permission to provide financial services, otherwise, all of its activities are illegal.
How fast can you get money from payday pay?
Payday loans are to be easily available and with the least amount of formalities. Thanks to the reduced requirements, the entire procedure of analyzing the application is very efficient. They are primarily chosen by those who have sudden and unexpected expenses and need money right away. The customer gets a reply almost immediately. In the case of payday installments, the decision can be made within a few dozen hours. However, when it comes to traditional payday pay, the decision to grant it can be up to several minutes. A quick payday loan is a money even in 15 minutes. This is possible thanks to instant transfers, and in the event that the loan company does not use instant transfers, it is worth checking whether the account is in the same bank. Then, too, money is basically instant.
Not only that, loans are granted every business day, now more and more often loan companies provide their services around the clock, so access to money is even faster. Lenders are aware that those taking payday loans online want to have money in the shortest possible time, so they always instantly verify incoming applications, creditworthiness, and history.
Are payday loans safe?
Every day, thousands of online transactions are made, but not all of them are equally secure. No wonder that the question is asked so often whether the new online payday loans are completely safe. They may or may not be. It all depends on whether the decision to take out the loan was well thought out and the application went to a reliable company. Online payday rankings only include honest lenders. They are verified by our specialists and positively evaluated by existing customers.
However, if the customer intends to look for a loan company on their own, they must be more vigilant. Seemingly favorable conditions for payday loans can only be deceptive. You should definitely be careful when, after entering the institution’s website, there is not much information about it. A fair company will have accurate contact details, KRS or NIP. If they are not there, it is better to abandon the thought of a loan here. At the same time, the presence of NIP is also not the final certificate of integrity. It is better to check a loan company anyway. Online payday loans can only be provided by institutions that have official approval for lending activities.
Similarly, you must not cooperate with someone who requires a registration fee or the loan agreement does not contain detailed information about the APRC, additional fees, or the amount of the penalty for late payment. It may turn out that these values will be astronomical. Honest loan companies state everything in the contract.
People who nevertheless have limited confidence in procedures and services provided over the internet can still decide to make a personal visit to the facility. It will not always be possible to take payday loans in the selected company, because not all of them have stationary points, but you can find them.
Payday loans – how is it going?
Online payday loans usually apply to small amounts, and the repayment is one-off. The contract has an exact date by which the money should be returned. Most often the loan is for several days, but this is not the rule. You can opt for payday installments. Then the repayment of the entire liability is spread over several dozen installments. Due to the fact that payday loans are associated with easy and quick money, often borrowers sign several contracts and then have a problem with a refund. What in this situation, how to pay off a few payday loans?
Then consolidation of payday loans can be a good idea. It proceeds similarly to a consolidation loan. All amounts are added to one value, which is then divided into installments, which are at the level at which the borrower will be able to pay back. Thanks to this, the commitment decreases and the household budget does not feel it.
However, being aware that there will be a problem with paying one payday loan, before the date specified in the contract, you should ask the loan company to transfer the payment or spread the amount into installments. However, when deciding on an installment system, it is best not to sign a contract for the maximum repayment period, to leave a certain margin for extending the repayment period in the event of financial problems.