Non-bank loan – what is it?

When looking for interesting texts on the subject of “non-bank credit”, pay special attention to their substantive content. If you plan to choose one of the financial products proposed by non-bank institutions in the short or long term, it is important that the information you use clearly and legibly embraces the topic.

What is a non-bank loan and what to consider when deciding to use a given financial product? Get to know our accessible introduction to the world of non-bank loans!

In the bank or outside the bank?

In the bank or outside the bank?

Are you looking for financial support to be able to realize your plans and dreams? In such circumstances, you usually direct your first steps to the bank. Unfortunately, despite the fact that the offer of banking institutions is very wide and varied, and individual banks vigorously compete in the fight for customers, obtaining a bank loan can sometimes be very difficult or impossible. Banks refuse to grant loans when the customer has no creditworthiness, which is according to the bank will not be able to repay the loan. This happens when the potential borrower receives a low scoring rating, estimated by special algorithms, or when there is no employment contract.

When the bank refuses credit?

When the bank refuses credit?

When a bank does not want to lend us money, a non-bank loan is a good solution. It is a financial product offered to customers by non-bank companies. The conditions for granting such loans are fundamentally different from the procedures followed by banks. Loans are much more easily available and credit decisions are made much faster than for banks. When choosing a non-bank loan, it is worth paying attention to several issues. And above all for one, key – interest rate. But it is not everything. Other parameters of the loan are also not insignificant – especially the amount borrowed and the repayment period. When deciding on a non-bank loan, it is worth choosing one that we are able to meet.

When analyzing the offer of credit products and loans on the Internet, it is worth remembering that according to the official nomenclature, a loan can only be granted by a bank, and such operations are regulated by banking law. Loans are the domain of non-bank companies. The scope and possibilities of their activities are regulated by the Civil Code.


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