Does an identity-card loan really exist?
As technology has developed, lending companies have focused on operating online. Nowadays, almost every lender provides financing without the need to leave home; see lendup.pl. A few years ago, it was already possible to apply for a loan by telephone. Now, you do not even need to speak to an employee of the lending company to receive extra cash. There is no denying that obtaining the funds is a very intuitive process and does not require any special skills. We can submit a loan application even on a smartphone. Do we really not need to submit any documents other than an identity card?
Yes, that is definitely true. On the basis of an identity card, we can obtain not only a non-bank loan, but sometimes even a cash loan. However, to see the additional amount in our bank account, we must meet several essential conditions. These include:
Being of legal age – only after turning 18 do we have full legal capacity. In other words, we can sign an agreement with a lender only once we are an adult.
Polish citizenship is essential. Naturally, the Polish market also offers loans for foreigners, but obtaining them is somewhat more complicated.
Residence in Poland – a Polish citizen who lives and works outside our country must apply for a loan where they permanently reside. The situation is different when we go abroad for work but continue to live permanently in Poland.
A valid identity card – an identity card is the primary proof of identity. Sometimes we may apply for a loan using a passport. However, this document is not always accepted. We certainly will not receive a loan using a driving licence or student ID card.
Appropriate creditworthiness – to receive financial support, we must prove to the lender that we can repay the borrowed amount together with all its costs. The level of creditworthiness necessary to obtain a loan depends on its amount. The more money we want to obtain, the higher our creditworthiness should be.
A good credit history – lenders generally check credit and business-information databases, as well as debt databases. If we are behind on our repayments, it will certainly be more difficult to obtain an ID loan. In such a case, however, we can look for a solution in loans without BIK verification.
An individual bank-account number – a verification transfer is a common method of confirming identity. To make one, we must provide the lender with our individual account number. In addition, the money must be transferred to our account.
A current telephone number and email address – lenders sometimes contact us to clarify something, so it is worth providing a number at which we are always available. Otherwise, we may not receive the loan. In addition, information about the financing being granted or a code to confirm the agreement may be sent to the provided telephone number.
As we can see, this list is not very extensive, and most of us meet the requirements. An identity-card loan is genuinely a product that can be obtained solely on the basis of an identity card.
How do you apply for an identity-card loan?
If we want to obtain extra cash quickly, it is worth submitting the application online. What needs to be done? First, we should consider what amount we are interested in and which company we want to work with. For this purpose, we can use, for example, a loan comparison tool or loan ranking. Once we choose an institution that suits us, we can proceed with the formalities.
Usually, we first choose the loan amount and repayment period. In the next step, we complete a personal-details form and present our financial situation. We generally also complete an income statement, which will be verified at a later stage. If the lender does not impose a particular identity-verification method, we can now choose the method we prefer. Remember that the fastest way to receive an identity-card loan online is to use one of the verification applications. Another advantage of verification applications is that they check our creditworthiness. Consequently, we do not have to generate a document containing the transaction history of our bank account ourselves, for example.
If the identity verification is successful, we only need to wait for the lender's decision. Regardless of whether we receive the loan, we must always receive feedback on the lender's decision.
The next stage is signing the agreement and transferring the funds to the bank-account number provided in the form.
If I work under a contract of mandate, do I have a chance of obtaining financing?
Many people fear that if they are not employed under an employment contract, they have no chance of obtaining financing. Fortunately, these concerns are unfounded. In the case of an ID loan, as with other non-bank loans, we have a chance of obtaining additional funds even if we are not employed under an employment contract. For lenders, the most important factor when providing support is the total amount of income earned, as well as its regularity. Our task is to document, for example in the form of a bank-account statement, that we receive money regularly, such as every month or every week. Depending on the company's internal requirements, our income and expenditure history may be checked for up to one year back. The situation is similar in the case of business activity or royalties from copyright.
With loans, unlike, for example, mortgage loans, we receive a much lower amount of financing. Consequently, if we choose an instalment loan, the instalment is much lower. Nevertheless, we should expect the lender, wishing to eliminate credit risk, to request confirmation of the income received. These actions are intended both to protect the company against failure to repay the borrowed amount and to protect the lender against excessive indebtedness.