Currently, the financial market offers many opportunities that you can borrow for money. Undoubtedly, loans and credits are still among the most popular. Do you need cash and you don’t know which option to choose? Check what makes them special.

 

Credit

Credit

The loan is always granted by banks. To obtain it, you must have creditworthiness, usually resulting from your income. It also sets the maximum amount you can get. A written agreement must be drawn up between you and the financial institution that sets out the amount you borrow, its repayment date, interest rate and any changes as well as the amount of commission. An important factor that distinguishes a loan is also that in order to get it, you must specify the purpose for which you intend to use it. All these rules are regulated by the Consumer Credit Act.

 

Loan

money loan

A loan is a slightly more complex concept. It doesn’t have to be about money either. Moreover, a loan of up to PLN 500 does not have to be granted by signing a contract. For larger amounts, there is also no need for a written contract. You can take most loans quickly and easily online. It also does not have to be provided solely by financial institutions, but can e.g. by a natural person. To take out a loan, you don’t have to prove that you have the ability to pay it back. You also do not have to inform for what purpose you intend to use it, it is only your property. Interest and commissions do not have to be attached to the loan. They are an individual matter, agreed with the lender. The legal regulation is also different than in the case of credit, as the rules for granting loans are enshrined in the Civil Code and not in the banking law.

Want to know more about lending? Check our website Hans Brinker, check our offer or consult an advisor. We are happy to answer any question.