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Nowadays speed counts – we earn money quickly and spend it quickly. That is why fast loans are so popular, thanks to which we are able to raise funds for any purpose practically immediately, without the need to wait long for the application to be processed.
Of particular interest are Internet loans, thanks to which you can get money completely online – without leaving your home or business. It is thanks to them that you can receive funds even in a few minutes, without the need to provide any additional documents – practically only for evidence!
However, before we decide on a quick online loan, it is worth taking a moment to look at the offers available on the market and to get acquainted with the very process of obtaining such a loan. Anyone who has never used such an offer before, we invite you to read our guide!
Online loan – what is it?
Internet loans often raise a lot of questions. How can you get a loan completely online, without personal contact with an employee of a loan company or bank? What loans are available online? How much can we borrow and for how long? Are such offers really safe?
On-line loans are loans available entirely online, but you can also meet with such a term for loans that allow you to submit a loan application through the network.
These are usually cash loans, i.e. ordinary loans, which we can use for any purpose. The lender does not ask then what we intend to spend money for and it is our private matter.
Examples of internet loan goals:
– shopping – also internet ones
– real estate renovation
– car repair
– private treatment
– payment of bills, debts
– a holiday trip
– party device
On the Internet, we can mainly borrow smaller sums and for short periods, in banks and non-bank loan companies. When we choose the right offer, we also do not have to worry about security issues. So what is worth knowing about them?
Online loans – amounts
As we mentioned, internet loans are primarily smaller amounts, which results from the simplified loan procedure, which then translates into their speed.
In general, thanks to an online loan, we can obtain sums from 100 to 10,000 PLN without thoroughly analyzing your creditworthiness. When the lender has access to the customer’s creditworthiness data, for example by viewing his bank account, then the amount may be higher and even over PLN 100,000.
Most often, however, cash loans available on the internet amount to a few thousand zlotys and allow for easy coverage of various liabilities, including those that appear suddenly.
Online loans – the repayment period
The repayment period of internet loans is related to their amount. Usually, the repayment takes place in a few months or a few years – on average in about two years.
In general, we meet with installment loans, but you can also include weekday loans in this category.
The payday loans allow you to raise money with a payback period of just one month. They are therefore directed at those people who would like to receive money immediately and can also pay it off instantly, for example from the nearest salary. For this reason, they are risky, because taking a payday for a higher sum at low incomes can lead to a delay in repayment, and thus accruing costly penalties.
A safer choice is installment loans, which allow you to get higher sums with a longer repayment period. Most often it is about 2 years, but sometimes the lender proposes longer repayment periods of up to 5-10 years.
The installment loan is repaid in monthly installments, which are related to the amount borrowed and its repayment period. The longer the repayment period, the lower the installments and the easier to settle.
Are our internet loans safe?
In the context of loans available via the internet, a question about their security is also often asked. Is it really riskless to borrow money without personal contact with a bank or loan company employee?
Currently, online loans are a very safe offer for anyone interested. Thanks to them, you can easily obtain money without having to leave your home, as all formalities are carried out online.
However, the most important thing is to find a safe, trustworthy lender. What should we pay attention to? First of all, we choose recognizable loan companies and banks, for example, Burke. It is also worth checking opinions about them that we can easily find on the internet. All you need to do is enter the name of the lender into the internet search engine to find out what customers think about it.
In addition, the websites on which we submit loan applications are specially encrypted and there is no risk of stealing our data.
Where can I get a loan online?
All you need to do is to use the search engine and enter the words “loan via the Internet” to see that there are a lot of offers. The most important thing is to find the right one, thanks to which we will be able to obtain money easily, quickly, cheaply and safely.
As we have already pointed out, Internet loans can be borrowed from banks and non-bank lending companies. It is worth pointing out that the procedures related to obtaining a loan are then slightly different.
Banks offer online loans on different terms for their regular customers and for new customers. Loan companies operating non-banking, in turn, use procedures similar to those used by banks for new customers.
Non-bank and banking procedure for new clients
In this case, the key is to verify the identity of the client, so that no loan is granted to someone who impersonates him. This is to reduce the risk associated with the consequences of identity theft, as an employee of a bank or a non-bank loan company does not have the possibility to verify the customer personally.
The procedure consists in writing an online loan application and then on verification – below we present detailed information about it. After positive verification of identity, the application is considered (in some cases, verification takes place after its initial consideration).
If everything agrees, the loan is activated. Most often, we can receive it in one day, even in an hour, but it happens that the process is extended to several working days.
Due to the nature of internet loans, there is usually no need to provide any documents, but it may happen that the lender will want to receive them. Then we can pass them in the form of a photo, scan or in person at the facility or send them by post or courier. Unfortunately, this extends the waiting time for consideration of the application.
Banking procedure for regular customers
If the client wants to get an online loan from his bank, he can do it very easily. To do this, log in to the transaction website and then select the appropriate loan offer. The application is shortened because the bank already has the majority of information about the client.
The application processing time is usually for several minutes. There is also no need to provide documents confirming creditworthiness because the bank calculates it on the basis of income and expenditure from the client’s bank account.
Attention! In order to receive an online loan by a bank as a regular customer, we must have a bank account for a long time – depending on the offer from 3-6 months. Regular payments must also be credited to your account.
Identity verification when borrowing online
Let us now focus on the identity verification process, which is a characteristic feature of most online loans. This verification, as we said, is aimed at eliminating the situation in which the client impersonates another person and wants to extort the loan.
Identity verification is most often carried out through verification transfers. These are special electronic transfers, which are aimed at checking if the person applying for the loan really is.
What is the verification transfer?
The verification transfer is performed by the client who wants to get a loan via the Internet. Most often it is for 1 zloty or 1 grosz, therefore for a symbolic sum. In general, verification takes place after the loan application has been issued, but it can also be carried out after receiving the initial loan decision – it depends on the lender’s procedures.
The transfer is made from your own bank account – this is very important because only then you can compare the data of the sender with the data entered in the loan application. If these data are correct, the verification is positive. That is why we can not perform a verification transfer from another person’s bank account.
Verification transfer – also via fast online payment systems
Once, verification transfers had to be carried out by customers – from their bank account directly to the lender’s account.
When the transfer was intra-bank, that is, between two accounts in the same bank, it was booked straight away, so it allowed for quick verification. Problems, however, began when an interbank transfer had to be made – then its posting time was one business day, so waiting for verification was prolonged significantly.
Now, however, fast online payment systems are used more and more often, which also allows for accelerating the process of obtaining a loan. In this case, the transfer is carried out via a special system connecting the sender with the recipient.
The advantages of verification through the online payment system:
– no need to self-check the transfer form
– acceleration of the identity verification process
– faster online loan
– greater transaction security
– no errors in the transfer form
– no need to visit the branch and visit the courier
This customer verification system is also available at Burke – we use the trusted Blue Media online payment system, which is also used by many other financial institutions.
Internet verification conducted in this way is, therefore, the best choice for Internet users who appreciate their time!
Other verification methods for online loans
In the case of online loans, you can also meet other verification methods, including such as:
– verification during the courier’s visit
– verification at the lender’s outlet
– verification by GIRO check at the post office
Such methods are also available for people who do not have their own bank account. However, we must indicate that the waiting time for identity verification can then be extended, which will also extend the waiting time for loan withdrawal.
What conditions must be met to take advantage of a quick online loan?
We already know how to obtain an internet loan, so it is worth spending extra time on one more important issue, namely – what conditions must be met in order to be able to take advantage of this type of online loan?
As we noted earlier, internet loans are generally available on convenient terms, so there is no need to go through complicated credit checking procedures. This does not mean, however, that this ability is not required!
The main terms of loans online:
– possession of a valid ID card
– living in Poland
– the right age in the limit
– positive credit history
– proper creditworthiness
It is also worth noting that loan companies operating non-banking, as well as banks have quite different requirements addressed to customers, so it may happen that they will take into account other factors. In addition, it should also be pointed out that it may happen that one lender will refuse, while the other can easily borrow online.
What exactly is hidden under the above Internet loan conditions? We invite you to check the exact requirements!
Possession of a valid ID card
We will not receive any loans if we do not have a valid ID card. Although we do not show it traditionally, we must enter its details in the loan form. It is worth checking whether the proof is still valid.
Living in Poland
An important condition for obtaining a loan is a permanent residence in Poland. In this way, banks and non-banking companies protect themselves against granting loans to a person who lives abroad on a daily basis, which translates into a greater risk for the lender.
The right age is within the limit
Although loans can be drawn from financial institutions from the age of 18, it is worth pointing out that very often you can also meet additional age limits. They are found mainly in non-bank loan companies.
The lender may indicate that he lends only to persons aged 20 or over, and to mark the upper limit, for example, 75 years.
Positive credit history
In the case of online loans, it is also very important to have a positive credit history. Under this concept is the history of current and past indebtedness. Banks and loan companies use special BIK and BIG databases to determine the credit history of the customer.
BIK, or Credit Information Bureau, collects and provides information on loans and credits from Poles. We find in this database both positive and negative information, that is building a credit history. Negative entries are then a consequence of non-payment of obligations on time and can be a serious obstacle to obtaining new loans and credits. Information to BIK may be entered by banks, credit unions, and loan companies.
On the other hand, BIG, or business information bureaus, are institutions that mainly keep lists of debtors, ie lists of people with unpaid debts. They may result, among other things, from unpaid invoices, subscriptions, rent, bills, seats, and maintenance. If we have such unsettled commitments, we may also not receive loans online.
In Poland, BIGs are most often used, such as:
– ERIF Economic Information Office
– BIG InfoMonitor
– National Debt Register BIG
When considering a customer’s loan application, his creditworthiness is also important. In the case of online loans, the most common statement is the statement indicating the amount, source and regularity of income and monthly expenses.
In general, there is no need to provide documents confirming creditworthiness, for example, a certificate of income earned by the employer, a bank account statement, a PIT document for the last year.
However, if the lender has doubts about the client’s creditworthiness, he may ask for the transfer of one of the above documents.
Quick online loan – how fast can you really get it?
In the end, it is worth devoting a bit of space about the speed of online loans – can we actually receive them in just a few minutes, as promised by banks and non-banking loan companies?
Yes, it is possible, but we must meet several important conditions. Without their fulfillment, the waiting time for withdrawing money may take even more than one business day.
To make the loan fast, you should:
– unsubscribe the loan application
– make a quick identity check
– meet all the terms of the loan company or bank
– submit the application during the working hours of the lender
– receive a quick payment of money
Therefore, if we do not meet one of these conditions, there is a risk that waiting for a loan will be prolonged.
At the same time, it is worth pointing out that the speed of the process of identity verification, which we have already mentioned, is of particular importance, as well as the quick payment of money. If a bank or a non-banking loan company then use online payment systems then transfers can be posted instantly.
Internet loans are a proven choice for anyone who wants to get money quickly and conveniently – without the need to go to a bank or loan company. Thanks to them, we can borrow large sums with installments, even within a dozen or so minutes, which is why it is a proven choice for people who care about time!
We invite you to take a closer look at the cash loan offer on Burke – thanks to us you can borrow up to 10,000 PLN with a repayment period of 2 years and give a loan in low installments. You do not need to provide any security. We cordially invite you to take advantage of our online installment loan!