February 14, 2019 Terry Glover 0Comment

Czym różni się chwilówka od pożyczki ratalnej?

Are you planning to borrow money non-banking? In this case, you have two main offers – payday loans and installment loans. How do they differ between themselves and what is worth choosing?

Non-bank loans are an attractive alternative to bank offers. First of all, they are distinguished by easy accessibility, because we can get them without the need to provide a number of documents confirming income, as well as without leaving home – we will arrange everything on-line.

Short-term loans and installment loans offered by non-bank companies are a good choice when we can not get a loan from the bank or when we want to be comfortable. However, before we decide to borrow money, we should analyze whether a short-term or installment loan will be a better offer for us.

Moment – low amount and repayment in a month

When we need money immediately and it is a smaller sum, in such a case the best choice will be a minute. These types of loans allow us to quickly rebuild the home budget when we do not have enough savings in the face of unexpected expenses.

Usually, payday loans are granted up to 4,000 zlotys , but it is worth pointing out that as a new customer, the limit for us may be lower and amount to, for example, PLN 1,000 or PLN 2,000. It depends on the policy of the loan company. The loan repayment period is usually one month. In some companies, we can extend this period, but for a fee. Therefore, the loan amount should be matched to our financial capabilities.

A momentary will work best when we need money immediately and in a smaller sum. Its easy accessibility means that we can take it even over a dozen minutes over the internet.

Installment loan – a solution for higher expenses

Non-bank installment loans is an offer addressed to people who want to borrow a larger sum, for example up to PLN 10,000. We can take these loans for a longer period. Usually it is up to 2 years, which gives 24 monthly installments. Thanks to this, a person taking out a non-bank loan in installments does not have to pay the entire amount immediately and can do it in smaller, more convenient for the household budget installments.

As in the case of payday loans, also those in installments can be spent on any purpose. Due to the greater amount limit, they are most often chosen when a larger expenditure is planned, for example renovation, departure, treatment or shopping. The advantage is also the possibility of spreading the expenditure into installments – then we reduce the risk of debt problems, because the installment amount can be matched to our financial capabilities.

As far as availability is concerned, the installment loan is offered on similar terms as the temporary loan. In the application for a loan, we enter your income and expenses, which are the basis for the analysis of creditworthiness. Also, the loan company usually checks customers in the debtors’ databases, for example in the BIK database. Both an installment loan and a payday loan can be on the same day or within a few days on your account.