Loan Without Certificates – How Does It Work?

A loan without certificates is a simple and useful way to get extra cash. Several banks and the vast majority of loan companies use this form of lending. The most important thing you need to understand is the fact that granting a loan without certification does not mean that all formalities are omitted, only simplifying them.

First – amounts

Although in the light of the law the statements have the same power as the certificates, the banks, for obvious reasons, treat them a little differently. If the offer includes a loan without certificates, the maximum amount of such a loan is lower than the same offer, but on the basis of a certificate of earnings. Differences can be quite significant, but when it comes to a loan without certificates, it usually amounts to several hundred to several thousand zlotys, and the maximum ceiling is about 20 thousand zlotys, although such high tests are available only at selected banks.


Not for pretty eyes

A loan without certificates as a form of income confirmation is recognized by a potential borrower. However, the bank always retains the right to verify the accuracy of the documents submitted. This is done via email or telephone contact with the company’s accounting department, which the borrower indicated as the place of employment. It is worth noting here that such a right of control is a privilege for the institution, not an obligation, so it is the bank’s internal rules that determine whether and which client is subject to verification. Usually, due to the cost of conducting such an operation, the banks do not verify applications for the lowest possible credit limit, although of course also in this case they can do so.


Loan or loan?

There is a fundamental difference between a loan without certificates and the simplest loans. It is true that it is not sanctioned legally, but it works in all banks: a loan without certificates can only be obtained by a person who in this particular financial institution has an account that he actively uses or at least can boast of an excellent credit history. Non-bank loans are granted according to less stringent criteria, and here sometimes only a positive opinion at BIK is enough or even it is not necessary. Banks whose maximum loan interest rate is imposed from above, must better guard their interests and provide safer loans, but when it comes to loans, there is no de facto requirement, although some companies always verify potential clients.


Where to enlist?

Loans and loans without certificates are available under different names and in different options practically in all banks, credit unions and loan companies. It is worth reviewing a larger number before making a decision, because the choice depends, among other things, on how much the loan will cost. Of course, the higher price is usually what you have to accept when it comes to loans and loans that are easier to obtain. Otherwise, you will usually have to wait a bit longer before the bank issues a credit decision. Although it takes no more than a few minutes to obtain all the necessary information, but if you multiply it by the number of people applying for additional funds and look at the whole process through the prism of the bank’s internal policy, you will usually have to wait for the money for about one day.

The choice of the lending institution is also important due to the price stability, availability of funds and the form of contact – all these are factors that are less important, but can in fact determine the possibility of borrowing.

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