How the loan works without certificates

In recent years, you have heard a lot about loans over the internet, without certificates or even loans for free. On the one hand, taking advantage of such an offer, where we receive money practically without waiting is very desirable, and on the other, you can start to fear where the catch is.

It can be clearly said that both banks and loan companies borrow money to make money on it. There are no hooks here. However, the difference in chances between getting a loan from a bank and loans on a parabank can be huge. Usually it is people who banks refuse loans to check non-bank loan offers.

What are non-bank loans?

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Parabanks are loan companies, i.e. companies whose main purpose is to borrow money. Such companies operate legally, and the process of borrowing money is based on civil law. The provisions governing the granting of loans can be found in articles 720 to 724 of the Civil Code. On the other hand, parabanks themselves operate on the basis of regulations regarding conducting business activity, although they are most often established in the form of companies.

Their main services are loans. A non-bank loan can have many types. The most popular are cash loans, including online loans to a bank account , but you can also take out a mortgage or mortgage loan. In addition, we divide loans into short-term and long-term – repayment period of over 12 months.

The repayment method can also be different

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Quick loans, also known as payday loans, have to be repaid within 30-60 days at one time, while installment loans can be taken out, which is repaid as a bank loan, i.e. by paying monthly installments. Currently, almost every company offers the possibility of taking loans online . This is a very convenient solution that some banks also use.

Just instead of going to the company’s headquarters in person, simply visit its official website. The field for selecting the loan amount and repayment length will be displayed, when we complete it, we can proceed to filling in the application. Just complete it with your personal and financial details to proceed. Personal data verification is done by sending a small amount transfer to the parabank. If the data match and the income entered in the application is sufficient, we will get a positive response and the loan will be paid to the bank account indicated. It is repaid by transfer to the parabank account.

Loans without certificates

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Each company advertises its products as the best and the cheapest. The hit, however, is an online loan without certificates . Does this mean that everyone will get it? Not necessarily. Banks have different procedures and each customer must bring a document confirming the income, the so-called income certificate, and is checked in BIK and BR to check its creditworthiness. The online loan is granted with a minimum of formalities, which is why instead of sending the certificate, the customer must voluntarily complete the income statement, which is part of the loan application. It is not possible to send an application without completing this section.

The certificate is a formal document, therefore the attempt to fake it is classified as an attempt to extort a loan. The same is true with an income statement. Although we fill them in ourselves, we must stick to the facts, and it’s best to write down all the information from your employment contract or other document. An intentional increase in income or reduction of costs will also be considered an attempt to extort a loan. Therefore, parabanks offer customers the option of entering their income themselves, because the legal obligation is to provide true values.

Loans without BIK

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Fast loans over the internet are very popular because parabanks have little formalities. But this does not mean that every person will get a loan. Even an online loan requires a customer check. Verification of personal data by making a transfer and receiving an income statement is not all that a parabank checks. Many loans advertisements include the term “loan without BIK”. In fact, only banks need to check BIK.

BIK, or Credit Information Bureau, contains information about previous and current loans and non-bank liabilities. So you can check if someone regularly repays their obligations. However, it is worth knowing that there are other databases, such as BIG InfoMonitor.

This database contains data on loans like BIK, but also data on debts from the National Debt Register. Therefore, it is a much better source of information than BIK itself. And this base is checked by most parabanks. So if we have negative entries caused by debts, even the lack of certificates will not help us get a loan.

In addition, if we do not pay it back on time, it will be entered in the debtors database. And this will make it difficult for us to take another loan or prevent us from taking a loan. In addition, it is worth thinking carefully about whether we need a loan or whether it is for such a high amount. Loan companies offer the possibility of extending the repayment time, but it is payable. Payday loans especially can get us into financial trouble because they have a very short repayment time, which means that many people take another payday loan to pay off the previous one. In this way, you fall into a debt loop from which there is no way out.

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