Best loans for the holidays

There are a lot of payday loans on the market and it is difficult to find out about the offer and terms of individual loans, despite many ads and advertising campaigns. Not only that familiarizing yourself with the terms of each offer takes time, it is not easy to get through the mass of regulations due to the large number of factors and variables in the loan agreements. Porfel decided to prepare a statement comparing the most important parameters of loans, such as the minimum and maximum age of the borrower, the highest possible amount of money borrowed for the first and subsequent loans, and the waiting period for the decision and the payment of money.

Borrower’s age

The minimum age required to take a loan from a non-bank company varies, in some cases even 24 years. Instantaneous payment for 18 years can be taken only in 3 companies (Zengga, Eicredit and Nominent), the next threshold is 20 years. Remember that completing the age required by the regulations does not guarantee that you will receive a loan, you must meet a number of other requirements.

Although the average age of people taking loans online is relatively low and is about 35 years old, it also happens that older people are interested in quick cash. In most companies, the maximum age is 65, although there are lenders that have raised this limit, and even those that have not set a maximum age (in these companies we set the value of 85 years, because despite the lack of maximum age, the elderly have no chance of payday pay).

How much can we borrow online?

When choosing a loan without BIK, we are interested in the amount we can get, online loans are often called micro-loans, because the amounts we can receive are much lower compared to the bank offer. Let’s also remember that with the first loan, the money we can borrow is much lower than in subsequent loans when our capacity increases. The winners of this ranking are MetLoan and Viloan, which offer PLN 1,500 and 1,400 respectively – for free.

When will I get the loan?

When will I get the loan?

The time of withdrawing money is one of the main advantages of non-banking loan companies, the so-called payday loans are paid out in just a few minutes from the start of completing the form. This, of course, only happens if our application is verified positively. Leaders in this category withdraw money even in 10 minutes, often it happens faster. This is obviously computer-based processing of applications. With such a large scale of loans it is a necessity, such a solution is used by market leaders as MetLoan, Viloan or QuickMoney. Let’s remember that the money came to us at the same time we must have an account in the same bank as the lender. We can easily check it on our website in the description of a given company.

Ranking of free payday loans

Ranking of free payday loans

Let’s also remember that our ranking of free payday loans, where new customers will get a loan at no cost. Our comparison shows that we compared two companies: Eicredit and Viloan. It is also worth paying attention to MetLoan, which came first in two rankings and came second in the next. It is particularly distinguished by the maximum amount of the first loan – up to PLN 1,500. In terms of age, Zengga and Eicredit are the friendliest, since they have been providing loans from the age of 18, without limiting their maximum age.


Mortgage loan and mortgage loan

April 5, 2018 Mortgage and mortgage are banking products. In both cases, the debt is secured by real estate. The mortgage loan can be used freely. However, the money from the loan should be allocated to the purpose related to the secured property. In the article below you will find the characteristics of both products. Half of the text describes the offers of a PB mortgage loan and a mortgage loan from WEj.

Mortgage and mortgage – introduction

Mortgage and mortgage - introduction

Pursuant to the Mortgage Act, only banks and XSD may grant loans or credits secured by real estate. Both the loan and the mortgage loan have the lowest interest rate of all available financial products. In both cases, the borrower can borrow substantial cash. The loan period is also long – up to 40 years.

Applicants for a mortgage or loan must have a positive credit history. People in debt have a lower chance of receiving both products. A mortgage loan without BIK is not possible.

Mortgage loan – a banking product for any purpose

Mortgage loan - a banking product for any purpose

A mortgage can be taken for any purpose. The product is directed to natural persons and business activities. However – entrepreneurs must use a separate product – a mortgage for companies. It is not possible to take out a mortgage as a natural person, and then use the amount received for the needs of business operations. Interestingly, a business owner who takes out a mortgage can enter interest into the company’s costs.

The mortgage is secured by real estate. The amount awarded depends on the value of the property. Usually, its amount does not exceed 80 percent. property values.

Unlike a classic cash loan, the mortgage procedure is time consuming. The applicant must obtain an entry in the land and mortgage register and insure the loan taken out.
Important – there is a variable interest rate in the mortgage loan. In the case of a mortgage, the interest rate is fixed.

Mortgage loan – necessary documents

The necessary documents to take out a mortgage are:

  • completed application for a mortgage loan,
  • ID card,
  • second document with photo,
  • proof of income,
  • property deed,
  • excerpt from the land and mortgage register,
  • current property valuation,
  • certificate of real estate indebtedness.

WEj mortgage loan – loan amount up to 80% property values

ING mortgage loan - loan amount up to 80% property values

A mortgage loan at WEj is very popular. The reason – the loan reaches up to 80 percent. property. The bank considers various sources of income. In connection with the above, the product may be used by persons who do not have an indefinite employment contract. The debt is paid in installments – permanent or decreasing.

  • loan period – up to 25 years,
  • loan amount – from 70,000 PLN up to 80 percent property values,
  • representative Actual Annual Interest Rate (APRC) – 6.97 percent

PB mortgage – grace period

PB mortgage - grace period

Pancor Bank uses a grace period in its mortgage loan offer. Credit holidays allow you to suspend repayment of one installment per year. Moreover, the bank does not require submission of an excerpt from the land and mortgage register for real estate entered in the Central Land and Mortgage Register Database.

  • loan period – up to 20 years,
  • loan amount – from 70,000 PLN up to 60% property values,
  • representative Actual Annual Interest Rate (APRC) – 6.20%.

A PB mortgage loan step by step

  1. The bank presents an information form.
  2. The borrower submits the application online or at a bank branch.
  3. PB issues a decision on granting the loan.
  4. Signing a contract. The borrower submits an instruction to pay the loan.

What is a mortgage? – product definition and characteristics

What is a mortgage? - product definition and characteristics

A feature of the mortgage is a long repayment period. It is secured by a mortgage which is established in favor of the lender – the bank. Unlike a mortgage, the received mortgage can only be used to finance an investment related to the purchase, renovation or construction of a property. It is not possible to use the money in any way. The mortgage rate is fixed. The borrower may receive up to several million zlotys under the loan.

Important – the mortgage must be insured. Most often, banks require bridging insurance – for the time of entering the mortgage in the land and mortgage register. It consists in increasing the installment premium by 1 or 2 percent. for the time of delivering to the bank an extract with a valid mortgage.

Types of mortgage

  • ordinary mortgage – the money received goes to buy an apartment;
  • construction and mortgage loan – funds are disbursed in tranches during the construction of the apartment;
  • consolidation loan – a combination of other loans. All debt is repaid in one installment;
  • refinancing loan – occurs when the borrower transfers a mortgage to another bank;
  • reverse mortgage – a product targeted at older people. The borrower does not have to pay back the debt, after his death the bank takes over the property.

Reverse mortgage – an alternative to a mortgage

Reverse mortgage - an alternative to a mortgage

The reverse mortgage market has been operating for a short time. The legal act that regulates the above product is the Reverse Mortgage Act of October 9, 2014.
The recipients of the service are pensioners. A person taking out an inverted mortgage remains the owner of the property and can live in it until his death. Money is paid in full or in installments. The debtor is not required to repay the loan. The heirs after the death of the borrower do not lose their rights to the secured property. Because they have the option of paying off their debts. Deadline – 12 months from the death of the original debtor. When the debt is settled, the bank cannot claim real estate.
However, if the claim is not satisfied, the bank has the right to take ownership of the secured property. In this situation, the lender is obliged to reimburse the difference in excess between the value of the property and the debt.

Mortgage and mortgage loan – summary

In summary – mortgage loans and mortgages in accordance with current legal conditions can only be granted by banks and XSD. Both products require real estate security.

  1. Mortgages and loans can be granted only by banks.
  2. Funds from the mortgage can only be used for the purpose related to the secured property – the purchase of an apartment, renovation or construction of a house.
  3. A mortgage loan can be used for any purpose.
  4. The mortgage loan has a floating interest rate. However, the loan has a fixed interest rate.
  5. Mortgage amounts are higher than mortgage loans.
  6. Both financial products have a long loan period – up to 40 years.
  7. Both mortgage and mortgage loans have the lowest interest rates among all financial products.

Debt cancellation process

Many people wonder if there is any way the possibility of canceling their debts once and for all, in fact there is a way to implement the cancellation of debts thanks to a new procedure introduced by law 3/2012 through which companies that private individuals can request the cancellation of debts.

The legislation came into force to support citizens who have no way to repay their debts accumulated because of the Italian crisis, before the introduction of the same, there was no way to get out of a debt situation.

Now, instead, in a few months all the debts accumulated can be canceled, following three distinct phases:

  • It will be necessary to structure the debt according to the resources available with the cancellation of the debts that are missing;
  • then the appeal must be presented;
  • finally, we will have to wait for the acceptance of our plan through the decree approving the residual debts plan.

This new procedure allows many Italian families to pay off their debts and return to live without the burden of a debt that could not be repaid in any way.

It is important, however, that this message spreads because there are still too many people who are not aware of this procedure and try day by day to settle their debts by remaining with water in the throat and worsening their financial situation even more.

The shame of debts

The shame of debts

Another very frequent problem of indebted people is that of not facing the situation and hiding in fear in order to avoid any confrontation with creditors, automatically removing any legal solution or way out, while others hide their debts due to shame, increasing the pressure and therefore no longer able to manage a delicate situation like the one that follows when a debt must be repaid.

Not taking advantage of the law of over-indebtedness would really be a wrong choice. In detail, we talk about reducing the weight of our debts by around 87% of the total, a really substantial decrease that could make the difference for many Italian families.

Requirements to reduce debts with the anti-debt law

Requirements to reduce debts with the anti-debt law

However, there are some requirements that must be respected, for example you need to be a natural person such as a consumer, a professional, an artist, a self-employed person, a professional company, a business owner who has been out of business for over a year, architects, notaries and so on.

To access the established procedure, the debtor must be in a state of over-indebtedness that respects the following forms: a prolonged unbalanced situation between the obligations assumed and his assets that can be readily liquidated to meet them, which determines the significant difficulty of fulfilling his obligations; overt incapacity to fulfill obligations on a regular basis.

Therefore, if the judge accepts the consumer’s plan, he becomes exempt from the debt, benefiting from the release from all the residual debts which he cannot fulfill.

Debts excluded

There are some debts, however, for which this same procedure is not allowed: debts deriving from maintenance obligations, damage compensation debts and tax debts established after the law.

It is clear that in order to take advantage of this procedure and to deal with the cancellation of one’s debts, it is necessary to fall into the categories described above and to comply with every procedure step by step. In a historical period like the one in which we live, such legislation was really necessary and useful to all those who for one reason or another fall into the categories listed above. The opportunity to cancel debts it must not however be a reason for a zealous attention to creditors, who in any case continue to have their rights that they can enforce at any time if one of the practices that are part of the proceeding is not respected.


Advice on how to find the best investment for your needs, always considering the degree of risk tolerance. We also talk about safe investments.



Being in debt is an unpleasant situation, but it happens. How to cancel debts? What is debt consolidation?

Doing business

Opening a business is not an easy thing, you need perseverance and a strong entrepreneurial spirit. From opening an ice cream parlor to a pizzeria, or a bar, a pub… there are so many opportunities.


Bank loan and payday loan application

Loan and payday loan

Loan and payday loan

The main difference between a loan and payday loan is the fact that financial assistance in the form of a bank loan can only be obtained from a bank. The second separateness is that in order to get a quick cash loan you don’t have to appear in person at the lender’s office. That’s why online loans are very popular.

Banks most often grant high loan amounts. Mortgages for housing purchase are popular among consumers. However, payday loans offered by non-bank institutions are much lower. Another difference is that lending companies do not require you to specify the purpose for which the money will be allocated. Customers who pay installments on time can count on favorable discounts and facilities during the repayment.

How are customers verified?

If the customer has no arrears in paying the installments and is not on the register of debtors, he should not have a problem with getting payday loans. However, before providing financial support, lenders often verify the creditworthiness of their clients. In addition, the lender must check the identity of the applicant – for this he asks to send the form. The customer fills in the document, using, among others, personal ID details. An additional option for checking the borrower effectively is by requiring a bank transfer. Such an operation can only be carried out from the applicant’s account. Transfer from a third party account is not possible. The verification amount is usually symbolic and amounts to PLN 1 or PLN 0.01. The next way to verify is the Instantor service, which shortens the entire process.

The next stage of checking potential borrowers is to check the register of debtors. Loan companies, like banks, do not want to provide financial assistance to people who are insolvent. For this reason, they use various types of registers monitoring creditworthiness. Registers of debtors provide reliable information so that the lender can immediately decide whether he intends to grant a loan to a person or not. The most frequently used databases are BIK, ERIF and KRD.

Quick loans – minimum formalities

Quick loans - minimum formalities

Payday loans and quick installments are a very comfortable solution. You do not have to queue or unnecessary formalities. Many non-bank institutions offer online loan applications. Is it easy to take a quick loan? Definitely yes. In the form, you only need to provide your basic data, such as: name, surname, PESEL number and the number and series of your ID card. If the borrower conducts business activities and incurs liabilities on the company, he is additionally obliged to provide his company name and tax identification number. Then, in order to contact the consultant, provide your telephone number and email address. The last stage is waiting for the decision and payment of financial assistance. Loan companies usually transfer money very quickly. In many cases, the desired loan appears on the customer’s account within 24 hours of submitting the application.

The big advantage of this type of loans is the fact that non-bank institutions do not require their clients to specify the purpose for which the money is to be allocated. It is a very comfortable solution because you can apply for financial assistance for any chosen purpose.

What do non-bank institutions offer?

What do non-bank institutions offer?

The offer of non-bank institutions is very rich. The quick loans industry is developing very dynamically and offers a lot of interesting solutions. There are more and more entities offering quick loans on the market. That is why lenders adapt their offers to current trends. New amenities and attractive promotions mean that even the most demanding customers can be satisfied. One of the most popular options is the first free payday payday loan. Such a proposal is addressed to people who decide for this type of financial support for the first time. In this case, customers do not have to worry about additional fees. They pay exactly as much as they borrowed, remembering to pay back on time.
Some loan companies provide car loans. In such cases, it is sufficient to have a suitable vehicle. Requirements for the car vary depending on the lender. Most often, the car cannot be older than 14 years and must be registered for the loan applicant.

Borrow reasonably

Borrow reasonably

Use reasonable judgment when borrowing. Many people take loans pay attention to emotions and act on impulse. In this case, it’s very easy to lose control of your finances. With unreasonable borrowing, you can get into a debt spiral. This is not a pleasant situation, because in order to pay one liability the borrowers take another one. To avoid this situation, it’s best to reduce expenses and spend money on the most important needs. A good idea is to make a list that includes all fixed fees. With this solution, you can get an idea of ​​what we are spending money on and minimize the risk of insolvency.


A loan for the renovation of an apartment is becoming more and more popular

Loan companies are an ideal form of external financing – they are quick and easy to obtain, no formalities are required. As a result, we are increasingly convinced of the financial products offered by the non-banking sector. Monket has carried out another edition of the study for Zengga, which checks what we most often borrow money for. Statistics show that every third Pole lends money to renovate a house or apartment. What else do we decide to take out loans for and what are the other results of the study?

Monket survey for Zengga

Monket survey for Zengga

Monket is a group that studies various markets – from fuel, through finance and banking, to public institutions. Thanks to reliable research tools, their statistics are reliable and consistent with the facts. Recently, a well-known research group has also conducted research for Zengga. The loan company wanted to see what we mainly borrow money for. Zengga successively conducts such research among people who have taken out a loan of up to 10,000 in the last two years. PLN – the last edition took place in November.

What do Poles mainly borrow?

Refreshing our apartment is the main reason why we reach for the financial support offered by non-bank companies – this was confirmed by the Monket survey for Zengga. As many as 37% of us incur obligations to renovate an apartment or a house. This result is 5 points. percent. higher than before, which can be confirmed by the fact that non-bank loans are becoming an increasingly attractive way of financing renovation.

Purchase of a car or bicycle

Secondly, we usually borrow to buy a car or bicycle – as many as 27% of respondents said so. A little less, because 23% of us, the loan is usually spent on expenses related to unexpected repairs or replacements of home appliances. For 21% of respondents, electronic gadgets (tablets, laptops, smartphones, etc.) are very important, because we devote the amount borrowed to them.

Seasonal expenses

12% of respondents admitted that they also take out non-bank loans in order to cope with seasonal expenses, such as school layettes, which can significantly reduce the parent’s portfolio. In addition, 11% of us are forced to apply for funding to be able to finance health expenses, which are most often associated with covering the costs of unexpected illness.

How have the test results changed?

How have the test results changed?

More and more Poles are taking out loans to cover expenses related to holidays and events. We reach this conclusion by comparing studies from March last year, where loans for holidays were declared by 14%, and today 22%. We borrow more for Christmas spending, but a little less for holiday spending – studies show that there are 2 such borrowers. percent. less than last year. It is worrying that the number of customers who are lending to pay off their previous liabilities is growing – there are as many as 9% of such people. It’s 2% less than in 2016, but it’s still worrying


How to invest my money?

Many people want to invest money, but feel insecure with the amount of options. Do not worry. In today’s post, you will see how to take the first steps to start investing and have a healthy financial life.

The main thing to keep in mind is that you should divide the amount destined to invest in three small boxes: short, medium and long term, always according to your financial goals. If you ask yourself, “How do I invest my money?”, It’s time to get rid of doubts and figure out where to start:

Mount an emergency reserve

Mount an emergency reserve

How to invest my money? It’s easy to start. Setting up an emergency reserve should be the first financial goal of any person. Assembling an emergency reserve is essential to have the necessary financial resources in case of unforeseen events in your life, such as an unexpected health expense or the need to make an unscheduled purchase.

The ideal is to create a reserve fund with a value ranging from three to six salaries. The best way to keep this money is in a savings account. In addition to being able to withdraw part of the amount without paying any kind of fee, you still count on the profitability of the investment during the period that does not mess with the money.

Plan the Retirement

Plan the Retirement

Planning for retirement is an important step for those still wondering “how to invest my money”. This investment is essential for those who want stability and security when they reach a later age. When setting the amount to be invested for this period of life – which, depending on your age, may be short, medium- or long-term planning – is important to consider health care expenses and remedies, reserving a large amount of what you spend today

Remember that Social Security retirement only covers 20% of your income. To reach full value, you can invest your money in applications that earn enough to reach the current amount when withdrawing money.

Invest in fixed income

Invest in fixed income

LCI, LCA, fixed income funds, Treasury Direct. Separating part of your investments into fixed income is important for the future. Real Estate Credit Letters (LCIs) are fixed income securities that have fixed rate or index linked returns. The LCIs are quoted from the real estate loan and have the advantage of the security that the investor will not lose money and is exempt from tax for individuals.

The Agribusiness Credit Letters (LCAs), also fixed income securities, differ from the LCIs because they are issued from credit for agribusiness. Another safe investment option with guaranteed profitability is Treasury Direct. Program for online sale of public bonds for individuals requires only $ 30 of initial investment.

Diversify investments

Diversify investments

In addition to the fixed income, safer, but with lower profitability, if you have money available it is worth diversifying your investments by directing an amount to equity investment funds, stocks, among others. These options offer more significant profitability.

However, it is important to keep in mind that the risk in this type of investment is high. There is no guarantee of earnings and losing money is a possibility. Diversifying your investment portfolio and not dumping all the eggs in the same box is a good idea if you do not need this money urgently and can handle the risks.