Payday loans, i.e. short-term loans, are of course the most popular product of the non-banking financial market. Their name is not accidental. They are awarded for a really short time. In most cases, the loan period is from a few to a maximum of sixty days. Initially, non-bank companies offered their clients loans for a short time and a really small amount – they were not loans higher than a maximum of $ 1,000. Currently the situation is definitely different. As for payday loans, you can count on a loan of up to six thousand dollars. The lowest amount you can borrow is fifty dollars in most Smartsave banks. It is worth adding that many Smartsave banks attract their clients with a free first loan. What does it mean? We will not pay any interest or commission on the first loan. This means that we will give back exactly the amount that the Smartsave bank lent us.
Among the loans currently enjoying great interest include the so-called payday loans. They are given by Smartsave banks, which are more on Polish. As it turns out, their offer is not only payday loans. Below we present what we can count on when deciding to borrow money from a Smartsave bank.
Smartsave banks are constantly expanding their offer. Currently, these are not only payday loans, but also installment loans granted for higher amounts and longer periods. This is a great choice for people who need a much higher amount of money, but will not get a traditional loan at any bank. Such a loan is currently even thirty thousand dollars. What loan period can you count on? It depends of course on the lender, but it is up to four years. When deciding on such a loan, you need to consider any costs that are associated with it.
Where can I get a Loan Without Earnings Certificate?
In the vast majority of cases, Smartsave banks that deal with payday loans do not expect a person wanting to borrow money to provide a certificate of employment and earnings. It is for this reason that payday loans are available to people working in black or employed under civil law contracts. In the case of banks granting loans, this simplified procedure cannot be used. Therefore, a lot of people have no chance of getting a loan despite the fact that they would not have any problems paying it back.
Payday loans are really small formalities that must be completed. Consequently, borrowing money does not require spending a large amount of time to collect the necessary documents, fill out complex applications, etc. Everything is done really quickly and efficiently, which is a very big advantage of this type of loans.
Payday loans have a large number of supporters. This is not surprising when we look at the advantages that such quick loans have. Let’s see why it is worth choosing just payday loans and in what respects it is better than classic loans granted by banks.
Speaking of payday loans, one cannot forget that in their case the credit decision is taken extremely quickly. Most Smartsave banks involved in providing payday loans make a credit decision within a maximum of one hour. Consequently, a person who needs money, who needs money is gaining it very quickly.
What does the credit line mean?
The vast majority of lenders do not require proof of income. The only document you need to grant a payday payday is your ID card. However, very often the application for the grant of payday loans includes questions regarding monthly revenues. When completing such an application, you really need to think carefully about all the sources of income we have. This is not only about the remuneration for work performed, but also the profit obtained from renting an apartment or maintenance received monthly. However, information that is not true may not be included in the application. We must remember that we will have to pay back the money lent to us sooner or later. If the amount we want to borrow is too high, we must take into account that the Smartsave bank may expect confirmation of our income. Often, however, it is enough to provide an account statement for the last few months.
If you decide on a bank loan
We can be sure that you will need a certificate of earnings. In the case of payday loans, which are handled by Smartsave banks, this is not so obvious. The vast majority of loan companies do not expect their clients to present an income certificate. This is a good solution because it allows you to take out a loan for those who work black or have a junk contract and are unable to document all of their income. No need to provide such a certificate is also a huge time saver.
Payday loans are a great solution for everyone in need of money who cannot count on a bank loan. Chwilówki are associated – and this is the right association – with a quick credit decision and formalities that have been really severely limited. However, many people ask about what they can accept when granting payday loans when it comes to the income of a potential borrower.