The first free online loan on the Polish market appeared thanks to the Vivus loan company. A few years ago, it was this lender who offered his new clients a free loan. Over time, more and more companies have decided to introduce this type of financial product into their offer. Currently, most lenders have it in their offer. Free online loans are offered on a variety of conditions. Borrowers can count on several hundred zlotys or even several thousand zlotys for a period of 30 – 60 days.

Who can apply for a free payday loan?

Who can apply for a free payday loan?

Only new clients of loan companies can apply for a free loan. Some lenders reward timely payments and loyalty of their borrowers by offering, for example, every 5 loans for PLN 0.

Free payday really costs nothing, as long as the customer fulfills the contractual provisions. I am talking primarily about timely repayment of debt. If the borrower is late, even one day with the repayment of the obligation, he must take into account the cost of late payment. It is rare for a loan company to “turn a blind eye” to delayed repayment. It is best to make a transfer of funds 1 – 2 days before the deadline contained in the contract. The higher the loan amount, the higher the costs for possible delays will be charged.

Only a few years ago, even a small amount of the loan was completely free to appeal to many customers. However, the amounts offered by loan companies are systematically increasing. The maximum amount of financial support received depends on on the creditworthiness of a potential borrower.

PLN 6,000 in Quick Cash

PLN 6,000 in Quick Cash

Szybka Gotówka offers quite a large amount for the first free loan, as much as 6 thousand zlotys. The borrower can repay the liability up to a maximum of 65 days, i.e. it is just over two months to collect the entire amount to be repaid. Generally, Fast Cash has prepared the possibility of borrowing up to PLN 7,000 – however, over PLN 6,000 is no longer free. In addition, the lender offers every fifth loan completely free.

A loan application may be submitted by persons over 18 years of age, they own a bank account and have a mobile phone. A negative loan decision may be granted to persons who are in arrears in repayment of previous liabilities, and these arrears have been recorded, among others, in Bitdatabase.

Which loan companies offer a free payday loan of up to PLN 3,000?

Which loan companies offer a free payday loan of up to PLN 3,000?

The first free loan in the amount of up to PLN 3,000 offers more and more loan companies. Most lenders, however, try not to exceed this limit. However, there are many indications that over time, loan companies will gradually increase the ceiling of the first free non-bank loan.

Free loans up to PLN 3,000 offer, among others:

  • Extra Wallet,
  • Vivus,
  • LendOn.pl,
  • Net Credit,
  • Kuki.pl.

In the case of LendOn.pl and Extra Wallet, you can count on a repayment period of up to 45 days. Other companies offer the possibility to pay off a free reminder for a maximum of 30 days.

Before you apply for a free loan…

Before you apply for a free loan...

Before submitting a loan application, it is worth checking whether the loan company belongs to a different, larger brand. Even after receiving a positive loan decision, you may find that you have been charged standard fees. In this case, the only reasonable solution is to withdraw from the loan agreement within 14 days from the date of the contract. Then we have to give away the borrowed money and look for another company for which we will actually be a new customer.

First free loan agreement

First free loan agreement

Before signing the first free loan agreement, it is worth checking its provisions carefully. In particular, look at:

  • what are the consequences of the lack of timely repayment of the obligation,
  • what are the terms of the first free loan,
  • Is it possible to extend the repayment date (if so, under what conditions),
  • what is the standard cost of the loan?

Loan companies can send contracts by post to your home address or e-mail.

The first free loan and creditworthiness – does it matter?

The first free loan and creditworthiness - does it matter?

Most loan companies offer a high amount of the first free loan only to customers who can boast of high creditworthiness. It is influenced by, among others earnings. A quick free loan should be repaid in a month or two months. Therefore, in order to be able to settle the liability in the amount of PLN 3 thousand, the remuneration should be higher than this value.

Lenders usually check clients in debtors’ registers. Persons who have reported delays in paying off their other obligations, as a rule, can not count on a high loan amount. The highest amounts of free loans are still reserved for people with high creditworthiness.

Regardless of whether we decide on a free time or an installment loan, we should always have in mind the repayment period. Few companies allow you to extend the repayment period or refinance the loan. Each commitment must be paid back sooner or later.