There are over a dozen companies on the market that provide free loans. However, many of them offer lending only low amounts, which is not always satisfying to customers. You can add companies to the most well-known and recommended ones: See fondobook.com
Amount to be repaid
|Hillarium||500 PLN||PLN 0||0%||500 PLN|
|MetLoan||PLN 1,500||PLN 0||0%||PLN 1,500|
|Hypocredit||PLN 1,400||PLN 0||0%||PLN 1,400|
When deciding to borrow from a loan company, several elements must be taken into account:
- APY – The actual Annual Interest Rate expressed as a percentage. It provides the maximum costs associated with granting the loan, including: additional fees, commissions, commissions,
- Prompts and notifications – received when the loan is not repaid on time. They increase the amount to pay because they are paid.
- Extensions – if the company’s policy allows it, then the repayment of the loan can be extended for 7, 14, 30 days. This is obviously payable.
- Interest – if the loan is not repaid, then interest is charged at 4 times the lombard rate of the NBP loan.
- Debt collection – failure to pay off the loan may result in entering into the BIK database and then for collection carried out often by an external company.
What to take into account when taking a break in Hypocredit, Hillarium and MetLoan?
Before you go to sign a contract, it is necessary to determine exactly what amount is needed. A lot of people decide immediately for the maximum amount because it is possible because the money will be useful. This is often a mistake, because it causes a problem with repayment. This often leads to the necessity to extend the repayment time, instead of paying back for 0 PLN.
Prolonging the delay is not cheap. Buying time to pay off, for 30 days, it costs from 190 PLN to 300 PLN. In a good way, this shows the mistake a customer makes by taking an excessively large loan.
It is enough to extend the loan three times, and you can already make a loan company 600-900 PLN. It often turns out that it is an amount equal to the loan taken. Unfortunately, the appearance of additional fees does not change the fact that you have to pay off the whole – the debt and additions to it.
There are people who think that the payday can be paid in installments. However, they make a mistake by receiving an SMS message that they have just extended their payment for another 7 days. Each installment payment should be agreed with the company, otherwise you may get into trouble. Without a settlement with the company, you have to pay the whole thing, once. Otherwise, a significant sum will be paid every month.
It is even more dangerous because it often leads to a credit loop that can not be easily extracted. Mentioning the credit loop, we mean, first and foremost, taking another quick loans to pay back previous ones. This is the worst possible solution. Debts grow faster, until the borrower loses control over them. To prevent this, it is better to take as little loans as possible and only for urgent needs, without borrowing for expenses that are unnecessary.