Is cash loan for regular customers cheaper?

The financial crisis has limited universal access to credit. Banks have introduced a more restrictive policy and raised requirements for applicants mainly for mortgage loans.

A similar situation occurs in the case of cash loans, which are already granted from 1 thous. USD and the highest amount USD 200,000 can be obtained from Good Finance Bank.

A quick injection of cash


“Cash” is a quick injection of cash, because as the Good Credit bank advertises, credit-granting decisions are made in just 10 minutes.

Short waiting times are a very important feature of credit, but you should also analyze other parameters and, most importantly, do not make such a decision lightly. A quick decision can cost us a lot and long.

Preferential offer for existing bank customers


The cost of the loan is mainly determined by interest and commission, as well as other fees, such as insurance. The search for the most attractive loan should start with the bank whose services you use.

Financial institutions very often prepare a special, very attractive offer for their regular customers. Such a name is used for people who, for example, have kept a personal account at a given bank for a minimum of several months.

What’s more, banks can include bank cardholders of a given bank, deposits, investment units or people who already have and regularly repay another loan. It is important that the history of a given client with the bank is unqualified, i.e. without problems with paying off existing liabilities.

Reducing the commission charged on the loan


The bank may or may not reward a loyal customer. However, some institutions see such a need and reward the customer by preferential interest on loans and reducing the commission charged on the loan.

The second important cost is the commission. It is a cost ranging from 0% – 5% of the loan amount. The commission is charged in advance and may increase the loan amount or reduce what is paid out by the bank.

Almost all banks set the highest level of commission for new customers, i.e. 5%. There are, however, the bank offers where the commission is not charged, i.e. the rate is 0% – e.g. Good Credit – however, this is conditioned by using other products from the Banks’ offer.

Banks present more attractive offers to their regular customers because they have more information about them (they know the customer’s credit history).

However, this does not mean that the cheapest loan can be obtained from the bank where you have the current account or another account. Sometimes the competition’s offer is cheaper, but it entails the need to buy more bank products (e.g. bank account, insurance or credit card).

Let us remember that good cooperation with a bank always pays – measurable savings it usually brings when taking loans – regular customers just pay less!


Loan without Credit Information Bureau online – quick loan offers

A loan without a Credit Information Bureau is a product that you can take without leaving your home. Importantly, a loan without the Credit Information Bureau via the Internet is usually available as proof, without the need to attach additional documents to the application.

A negative entry in the Credit Information Bureau – Credit Information Bureau – results from delays in repayment of loans, borrowings, installments or bills. The borrower may refrain from paying his debts due to the difficult financial situation, but this does not change the fact that such a person’s data will be in the Credit Information Bureau – with a negative assessment. This will definitely affect the possibility of taking a loan from the bank, but a quick loan via the Internet without the Credit Information Bureau may still be available to these people.

Loan without Credit Information Bureau via the Internet

Loan without Credit Information Bureau via the Internet

Many loan companies, while verifying the creditworthiness and creditworthiness of potential borrowers, are already checking the Credit Information Bureau databases, which only a few years ago were available only to banks and cooperative savings and credit unions.

More and more lenders in Poland undertake cooperation with the Credit Information Bureau, but at the same time, there are still loan companies that declare that they offer loans without the Credit Information Bureau via the Internet.

This means that they are provided without verification


Of the Credit Information Bureau databases. This creates the chance for a quick loan without the Credit Information Bureau, via the Internet, in 15 minutes for people who for various reasons have stopped paying back a bank loan and, as a consequence, have negative entries in their loan history.

A borrower or borrower who has delayed the payment of the liability to the bank or loan company by at least 60 days may be entered in the Credit Information Bureau.

In this situation, the institution granting the loan (in cooperation with Credit Information Bureau) may, in accordance with the law, enter its client into the Credit Information Bureau database. However, he must earlier request him to pay the arrears together with the information that failure to pay within a period not exceeding 30 days will result in entering him into the Credit Information Bureau database.

What is it characterized by?


In the offers of non-bank companies, you can often find offers of loans without Credit Information Bureau via the Internet, which are provided as proof on the basis of a loan agreement, without controlling the Credit Information Bureau databases.

At the same time, you should be aware of the fact that a loan without Credit Information Bureau via the Internet, granted online, may involve checking the client’s financial and credit standing in other debtors’ databases, including at KRD, ERIF or InfoMonitor Economic Information Bureau. Therefore, when registering in BIGs, consider the possibility of refusing a loan by a non-bank company.

In such cases, you need to look for a loan online without the Credit Information Bureau and KRD, which means that loan companies also do not check the National Debt Register when verifying the client’s loan application. Fast loans online without Credit Information Bureau are then available even for indebted people, but you have to expect slightly worse credit conditions.


What does taking a cash loan look like

Good Finance is a comparison tool that lets you find various banking products in one place – loans, accounts, deposits and credit cards. With Good Finance you can easily compare offers and contact banks. As a team of analysts, we regularly check whether the offers are current, we suggest what to ask an advisor and what questions you can expect during a conversation with the bank.

We go through bank processes just like you do. We submit a request for a cash loan with the offer of interest in the cash loan ranking. Then enter your contact details and wait for a phone call from a bank adviser. What happens next?

Cash loan at Good Credit – I’m sending an inquiry and what next?

Cash loan at Good Credit - I

Before talking to Good Credit, prepare your ID card and think about how much you spend on a monthly basis that you cannot give up (these are called fixed expenses, i.e. fees for housing or bills). Make a note of information about your employer name, tax identification number, address and remember when you have been working with him. Also, have on hand the account number to which the bank should transfer the money to you.

When you answer the call, an advisor from Good Credit will ask you preliminary questions, including do you achieve stable income from min. 3 months in the case of an employment contract, min. 6 months in the case of a mandate contract and min. year for your own business. The adviser will also ask you if you are a bank customer. This has an impact on how your credit process will go on.

If you have adequate seniority and stable income

If you have adequate seniority and stable income

Then the adviser will propose you to complete the loan application. It takes about 10 minutes and you will hear questions about:

  • first name and last name,
  • PESEL number,
  • Your family name,
  • Your mother’s maiden name
  • marital status,
  • Place of birth,
  • citizenship,
  • type of identity document (ID, passport) and its series, number and expiry date,
  • address,
  • e-mail address,
  • Phone number,
  • loan amount and period,
  • do you decide on credit insurance,
  • where do you live (house, flat, ownership, rented, with your family etc.),
  • education,
  • number of dependents,
  • monthly maintenance costs,
  • do you pay alimony or a pension to someone,
  • information about your employer (legal form, tax identification number, address),
  • what is the form of your employment (employment contract, commission, own activity),
  • what credit products do you have or have you repaid in the past (installment purchases, credit cards, account limits, mortgage loans, payday loans),
  • don’t you have bailiffs?

The adviser will then ask you for permission to investigate your credit history in credit databases:

  • Credit Information Bureau,
  • National Register of Debtors,
  • BIG InfoMonitor,
  • ERIF Register of Debtors,
  • Bank Register.

In the next step, the adviser will ask you to stay on the phone and you will have to wait 1-2 minutes for the loan decision. The adviser will also offer you loan terms. It will read the installment amount, the cost of the loan and other parameters (APRC, interest rate, commission).

Credit insurance is not compulsory, but you can use it

Credit insurance is not compulsory, but you can use it

If you want to secure loan repayment in the event of death, job loss or illness, this will be a good choice, but also an additional cost. Do you decide on a policy? The adviser will also ask you questions about your health, income and life situation.

If you accept the offer, the adviser will offer you the choice of installment repayment day and loan payment method. You can choose to collect cash at the branch or transfer it to your bank account. Apart from Bank E-Money, it is the only bank where you can collect money in cash. You will receive all the documents summarizing the conversation and the offer by email.

If you have not been a Good Credit customer before, you must go to any bank branch with an ID card and income documents. During the telephone conversation, the adviser will show you which documents will be needed and can arrange you for a specific date in the branch you have closest to. This will help you avoid queues.

You go to a branch of Good Credit Bank to sign the contract. You receive cash if you have decided to withdraw the loan in this way or you confirm the transfer of funds to your account.