Cash loan for a statement – what do you need to know?

A huge number of Poles use various types of loans and borrowings today. Thanks to their wide range, we are able to find a product tailored to our needs. One of the most popular is a cash loan for a statement. So what should we know about him before we start looking for the best offer?

Cash loan on declaration – what is it?

Cash loan on declaration - what is it?

Probably everyone who has ever applied for a bank loan is aware of how many formalities are involved in this whole process. The lender usually requires us to submit very extensive documentation regarding, among others, our sources of income. In this way, he makes sure that we will be able to pay off the entire debt without any problems. Sometimes, however, that we can not or do not want to waste time on repeated visits to the bank, applying for a relatively small loan. It is in such cases that a cash loan based on the statement works best.

This form of cash loan allows us to obtain the funds we need without presenting any type of certificate, for example from an employer. Limiting formalities to an absolute minimum in many situations means that you can receive a decision to grant us a loan even within a dozen or so minutes. And as you know, such a quick and trouble-free loan settlement can be very important for people who need extra money immediately.

What conditions must be met?

What conditions must be met?

A cash loan for the statement may be granted to any person who has an ID card and submits a statement to the selected financial institution. Such a document concerns the income obtained by a potential borrower. It is worth being aware that a statement of this type also has legal force. 

Another important issue when applying for a loan is the creditworthiness of the applicant. The lender checks our Credit Information Bureau for any past debts. It is here that you can find information about each borrower’s back payment. And these, as you can guess, affect what decision about our application for a loan will be made by a bank or other financial institution.

When is a loan based on the statement a good solution?

When is a loan based on the statement a good solution?

A cash loan based on a statement is a good solution in the situation when we need additional money in the shortest possible time. 

However, it is worth remembering that such a short waiting time for a decision to grant a loan and its disbursement has its price. The higher credit risk taken by the bank for this form of financing must be offset in some way. When deciding on a cash loan for a statement, we must take into account a higher interest rate, a higher commission or fees for starting the loan. It is important that when choosing an institution whose services we will use, we should carefully read the conditions that are proposed to us.

Where to apply for a loan based on a statement?

Where to apply for a loan based on a statement?

Currently, most banks offer this type of financial products. The easiest way in this case is to get a loan from a bank where we already have an account. Then the formalities are even more limited and the loan can be granted to us within a few minutes of submitting the application. Especially since you can do it online without leaving your home. The terms of such a loan for regular bank customers are also usually more favorable.

Loan companies of all types also offer their services in the field of loans based on the statement . In their case, getting money quickly can be just as easy. A significant part of this type of institution does not even check borrowers in BIK, relying solely on the statements of such persons. As already mentioned, however, greater risk may be associated with higher costs of obtaining such a loan. Interest rates and various commissions may therefore be higher than for a bank offer. 

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