What is a non-bank payday loan?

Czym jest po┼╝yczka pozabankowa? 

A payday loan from many of us is associated with banks. However, they are not the only institution where we can borrow money. We can also choose from non-bank offers that are currently becoming more and more popular. What are non-bank payday loans?

We can borrow from various institutions and individuals, such as family or friends. The payday loan, which is worth remembering, is quite broad as opposed to payday loans that are intentional and can only be granted by banks. We can also apply for payday loans to so-called parabanks, ie payday loan companies specializing in providing them.

For a long time payday loan companies were associated mainly with very expensive and dangerous offers, from which we should stay away. However, currently the situation of parabanks is already much different due to the tightened legal provisions regulating their activities. Many of them have adapted to the new regulations and introduced standards of responsible lending, which has become equally popular and recognizable as banks. Now, we can incur non-bank payday loans not only on-site, but also on-line!

Non-bank payday loan – what is it?

With this general term, we define payday loans that are granted by payday loan companies. These include various types of payday loans, both short-term and long-term. They mainly spend on smaller sums, but we can also find offers that allow you to obtain financial support amounting to several dozen or even several hundred thousand zlotys.

In contrast to banking, non-bank payday loans are primarily characterized by easier accessibility. That is why it is often referred to as a payday loan as proof, because it does not require the supply of additional documents, for example certificates from the workplace. On the other hand, they may be more expensive due to the higher risk of non-payment.

The main types of non-bank payday loans:

chwilówka – a short payday loan for 15-60 days, drawn for a small amount from PLN 200 to PLN 3,000 depending on the payday loan company, paid in one installment

installment payday loan – granted for higher amounts and with a longer repayment period (eg in Aasa from PLN 1,000 to PLN 10,000, from 10 to 24 months), paid in monthly installments

mortgage payday loan – real estate collateral, if the debt is not repaid, the subject of the pledge, for example an apartment, becomes the property of the lender

Lombard payday loan – payday loan granted against movable property, for example jewelry, electronics, watches in pawnshops

community payday loan – a special type of non-bank payday loan granted by social credit services

Why are non-bank payday loans becoming more and more popular?

Above all, their success results from easy accessibility. Obtaining a non-bank payday loan is simpler than a bank payday loan. We can apply for it entirely via the internet without leaving home, or we can receive it when we do not have regular income, for example we work on the basis of civil law contracts. We will also find payday loans without BIK , i.e. without checking the credit history database and payday loans for the unemployed.

To sum up, if you need an additional sum of money, a non-bank payday loan is an attractive alternative to credit – many Poles have already learned about it!


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