Online Loan – is it 100% Over the Internet?

Internet banking is gaining popularity, which is why more and more banks offer financial products not only available at fixed-line locations. At present, you can also apply for a cash loan via the internet. However, are such forms of financing actually provided without leaving home? We check.

The fact that the interest of Poles in online loans is growing is evidenced by the number of visits to such websites as the comparison engine. There is no wonder – the financial products available without having to leave the house are very convenient and save a lot of time. In addition, they are often cheaper compared to the offer of loans available directly at the stationary.

Online loans – only partially?

Online loans - only partially?

As can be seen from the information contained in the online comparison of cash loans, some offers are only available online only partially. Only the application can be filed via the Internet, and all other formalities are already completed at the nearest bank outlet or through a courier. Although theoretically still a convenient solution, most people expect the possibility of completing all the necessary formalities via the Internet: starting from submitting the application, by providing the required documents, and ending with the disbursement of funds.

Fortunately, more and more banks have in mind the expectations of today’s borrowers. In order to ensure a big competitive advantage, they simplify the formalities to the necessary minimum that can be completed online. 

What determines the availability of 100% loans granted online?

What determines the availability of 100% loans granted online?

It is difficult to clearly answer the question of the availability of loans granted via the Internet – without the need to visit the branch. It all depends on the internal policy of a specific bank and current arrangements.

However, one can point out several factors determining the availability of loans via the Internet. These include:

  • the amount requested – usually loans for low amounts, e.g. up to PLN 5,000, are available online
  • credit history – good history recorded in database and lack of data from the borrower in other databases gives access to online loans taken over the internet
  • having an account at a given bank – this eliminates the need to provide documents certifying the amount of income, because the bank has access to the account history.

Remember: regardless of whether you are applying for a loan offered entirely on the internet or a loan with the need to complete formalities directly in the facility, do not decide on a random offer. Compare opportunities to choose the best solution in financial terms.