Loan for proof: a new option for debtors

 

Bank advisors and experts still disagree about how a loan based on evidence should be classified. It is a classic loan instrument typical of private companies and not banks.

It is a financial product that can significantly help pay off debts to banks.

It is a financial product that can significantly help pay off debts to banks.

You don’t have to look far with your mind – five years ago little was said about this type of loan. The market was very distrustful of them, and if some companies decided on them, the interest rate and margin were not very favorable for customers. At the end of 2018, payday loans granted as evidence already constituted a clear and very significant strength in the financial segment. In the rankings and popularity statements, they were ahead of, among others, cash loans and even without BIK .

Where did its popularity come from?

Where did its popularity come from?

By delving into the characteristics of proof loans, you can easily discover what’s tempting to customers. Certainly, the high popularity is mainly due to:

  • minimizing bureaucracy and formalities related to its incurring,
  • relatively low margins and commissions,
  • attractive interest rate on a monthly basis,
  • easy access to it without the need to provide employment certificates,
  • positive consideration of applications submitted by indebted persons.

The clients of loan companies appreciate not only the favorable financial conditions and repayment terms, but also the minimized documentation they need to collect. The loan for proof is usually granted without checking earnings certificates, and even current employment and verification of profits made. That is why it is so willingly used by people employed under civil law contracts, unemployed or not earning enough to apply for a bank loan (without adequate creditworthiness). It is also one of the most advantageous options for obtaining money for people in debt.

The loan process

To illustrate the simplicity of the whole procedure of applying for a loan, it is enough to state that the whole process does not take more than half an hour. The borrower reports to the loan company, which can be done even online (by scanning the ID to verify his personal data), selects the loan amount, repayment date and signs the contract. In very rare cases, the lender may request an additional document confirming your identity (e.g. driving license, passport). The instantaneous cash transfer service available on the proof itself does not require any more formalities, which is why it is so willingly taken remotely, via the Internet, by phone or even … by SMS.

Online loan for proof

Online loan for proof

It is undoubtedly a phenomenon because currently almost three quarters of applications are submitted electronically and processed in the same way. Also borrowed money is immediately transferred to the borrower’s bank account; they usually go there the same day or at the latest on the next business day. The loan process takes place in comfortable conditions in the comfort of your own home, where you can read the terms of the contract, and the borrower has constant access to current data on his debt, installments, repayment date, outstanding amount, interest rate.

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