For many people it does not really matter whether the same financial product is a loan or a loan. And the difference is really diametrical. Above all, when deciding on a loan, we almost always have to say what money is needed for. That is why we take a consolidation, car or housing loan. The exception in this situation is the cash loan that we actually use for any purpose. And taking a loan will always involve spending money on any expenses. Therefore, it is most often accepted that loans are granted by banks, whereas loans are granted by non-bank companies.
Loan and loan in the context of law
If someone still has doubts about the official definition of a loan, he can easily check it in the Banking Law. It is exactly in Article 5, on the basis of which it was stated that a loan will be called a banking activity, which entails legal and economic consequences for all parties to the loan agreement. The most important thing is that the loan agreement should always be made in writing. In its content, of course, must contain the data of the parties signing the contract, the amount and interest on the loan, the repayment date of the debts, as well as the amount of the commission charged to the bank.
The definition of a loan, although not precisely determined in the same act as a loan, should be taken into account that it was not unlawful. Namely, its rules for granting and repayment are precisely specified in the Civil Code. Most often, loans are granted in comparison to loans at very low amounts.
Momentra and the rest of the loans
Internet and local loans vary. In addition to being granted for any purpose, they also stand out more due to immediate decision-making when it comes to awarding them, as well as small amounts. Among many loans, payday loans are one of the most popular products at the moment. How are they so different that they convince such a large number of people? They are certainly very easily available. To borrow money from a non-bank company, you do not need to get a special income statement for this purpose. Usually, a simple declaration is enough to receive a certain amount of revenue every month.
Tempos are characterized by the fact that they can be taken very quickly for a very short period of time. Usually, you can take a payday as proof for a period of 30 days. However, there are cases when customers reach for loans with a repayment period of 10, 15 or 45 days. Another characteristic feature of online loans is that non-bank companies provide them for relatively small amounts.
Of course, compared to the offers of bank loans. However, it is also worth paying attention to the fact that the first time we can borrow only a limited amount of money, for example, a maximum of PLN 1,500. If we pay the first minute on time, then we can safely apply for another, for a slightly larger sum.
Verifying the borrower is much easier than the borrower. First of all, because banks still have a fairly complex set of applications and forms. These include, for example, a certificate of earnings, a scan of a contract of employment, verification at Retrodatabase, or certainly our credit history is in order.
When it comes to trying to take a break, we are dealing with a much easier process. In fact, all you need to do is complete a special form located on the website of a non-bank company. In the application, we enter all your data, as well as expectations regarding the amount and repayment period of interest to us the loan. We are often asked to verify your bank account by sending a symbolic amount to your company account. After several or several minutes, we receive the acceptance of the application, and thus the money is on our account.