12-month loans – with low APRC
Long-term online loans can successfully replace a traditional bank loan. 12-month loans offer much more opportunities than popular payday loans. However, this is related to a more thorough verification of borrowers in terms of their creditworthiness and entries in the debtors’ registers.
Below are 12 loans with an annual loan term. The lowest interest rate for Xeng and Cashimodo. The second of these lenders is distinguished by a loan without BIK in its offer.
How to take a loan for 12 months?
The loan period is one of the most important elements of the loan agreement. A long repayment period will increase the total cost of the commitment, but at the same time will reduce the amount of monthly installments. This in turn will keep your credit standing higher. Getting a loan for a year usually involves more formalities than payday loans.
Before sending a loan application, it is worth checking not only the loan company’s offer, but also the conditions that must be met by its client. Adults who have Polish citizenship and permanent home address in the country can count on a positive loan decision. You must also have a stable income and creditworthiness. This is assessed on the basis of the borrower’s personal data and entries about him in BIK and BIG.
The main loan granting conditions and conditions are mainly affected by our credit history and current financial standing. If they are not the best number of offers available is significantly limited. Once all the criteria are met, all you have to do is submit an online loan application and confirm your identity. This can be done by verification transfer, a special mobile application or during a courier’s visit. After completing these steps, just wait for the money transfer.
Loans for a year do not require formalities
The biggest advantage of online loans is the reduction of formalities to a minimum and instant transfer of money to your account. That is why online loans without income certificates are so popular. An ID card is not enough to apply for it, so we don’t have to wait for the employer to issue a document confirming our employment.
Due to the higher credit risk, you can find loans more often than proof long-term loans, but there are more and more such offers on the market. In the case of the Funeda website, the certificate is not necessary, however, in the event of low creditworthiness, the consultant may ask for some form of confirmation of employment. It is also worth remembering that loans without certificates are only available to people with a positive credit history. People who cannot boast such a thing can get a loan without checking their creditworthiness.
Customers applying for a non-bank loan at Cryobank are checked at BIK, BIG Infomonitor, KBIG, ERIF and KRD. People with negative entries in these databases may apply for loans for those in debt with a guarantor. This type of commitment offers, among others Cashimodo. The website does not require attaching an income certificate, because it is the guarantor who guarantees the timely repayment of the liability.
A loan for 12 months from 18 years – the easiest loan company
Age has a significant impact on the loan. The vast majority of non-bank financial institutions direct their offer to people between 21 and 26 years of age. Online payday loans are increasingly available, but only a few companies have been offering long-term loans for 18 years. Examples include websites such as Monedo Now, Xenga and Super Grosz.
The reason for the lack of trust in young customers may be a lack of credit history or unstable financial situation. People with a PESEL number, valid ID card, permanent residence address and regular income can count on a positive loan decision. Even if it comes from occasional work or a scholarship. This is possible because lenders usually accept more sources of income than banks.
Cash loan or 12-month loan – what should you choose?
Non-bank loans have many different aspects. However, both forms of funding can be invaluable support in urgent financial needs. If you are considering borrowing money for a year, it is worth checking which institution will propose more favorable contract terms.
All of them are tempted by a low APRC, i.e. the indicator of the Real Annual Interest Rate. Usually, the bank’s calculations refer to examples of representative offers that only a few borrowers can use. However, the cost of the cash loan calculator is usually lower than for installment loans. The reason for this are the lower requirements that borrowers have to meet, as well as the speed of cash withdrawal and reducing formalities to a minimum.