Everyone knows that in any credit company you can get a small loan at slightly higher interest rates than in a bank, but it is much faster and more likely that there will be no refusal.
However, in the Polish credit market, you can find offers with zero percent. This should mean that when the debt is repaid, nothing at all will need to be paid extra. After all, the interest will not grow. So, if, for example, the amount of 200 zlotys were borrowed, then it will also need to be returned after the specified period. That is, the payment will be absolutely equal to the amount borrowed. However, it should be understood that if this were really the case, the credit companies themselves would not have any income. Therefore, it would not make sense to create them at all. Consequently, loans at 0% have some peculiarities.
What is the catch?
At the same time, you should not immediately refuse such tasty offers as interest-free microcredits. Of course, there are many fraudulent companies on the market. But when choosing the right, well-proven organization, you can save quite a lot on interest. For example, in Poland there are many offers with an interest rate of 0%.
By and large, micro-credits with a missing rate are most often the move of marketers that they make in order to attract as many customers as possible. But if you carefully look at the terms of the contract and carefully think about them, then no unforeseen difficulties will arise. In the organizations that conduct their activities in accordance with the law, no pitfalls in interest-free loans with a rate of 0%. The only thing that distinguishes them from micro-credits with higher rates is the tightened framework. Therefore, those customers who were in too much of a hurry when signing the contract may face some unexpected moments in the future. For example, an organization may specify in the contract that the borrower is obliged to pay for the transfer of money. But this does not apply to transfers using bank details.
In addition, not everyone understands that in case of delay, interest will be accrued already for each day of the contract.
Types of interest-free credits
There are two main types of interest-free credits:
1. One of them is intended only for those who become a customer of a credit company for the first time.
2. And another kind is micro-loans of the type "the first five days without interest".
In any case, such microloans differ from the usual ones with a short term (usually no more than a month) and restrictions on the amount of debt (as a rule, no more than 500 zloty).
If the client cannot repay his debt on time, he can tell the employees of the credit company about it, and they will extend the validity of the contract. However, immediately after that, the microcredit will cease to be interest-free – the usual rate will be set for the entire time of lending.
Who is suitable for an interest-free micro-credit?
Any Polish citizen who has reached the age of 18 can get an interest-free microcredit. Many credit companies also set an upper age limit - usually 65 years; however, sometimes it is higher.
How to get a microloan with a 0% rate?:
• On the official website of the organization via a laptop or computer;
• In the office of the organization.
The first method is the easiest. One just needs to visit the website of the organization that issues such loans, enter the amount of money required, fill out a questionnaire and send an application for consideration. It can be done anywhere in Poland where there is Internet access. The main thing is to have a phone, laptop or tablet with.
After checking the application, the operator will send approval (only in rare cases there is a refusal). There is no need to come to the office of the organization with a set of documents. The required money will be transferred to the card or bank account in a few minutes.
And if you come to the office, there will also be no problems with the loan processing. Here all is needed is only a passport. Only in some cases, one may be asked to additionally indicate the source of income. Moreover, the work does not have to be official. Money received from renting out real estate can even be considered as a profit.
What is the benefit for credit companies?
It is advantageous for lenders to issue interest-free micro-credits, as they increase their customer base. Anyone who once used the services of such an organization and made sure that it is very convenient, most likely will return for larger amounts in the future.