Absolutely. The loan agreement is defined in art. 720 of the Civil Code. Pursuant to this provision, the lender may demand from the borrower remuneration for providing money. But it does n’t have to be . See xaydunggiaphong.com for an illustration
The situation is different with bank loans. The loan is always payable. It results from art. 69 of the Banking Law.
If you want to learn more – learn the basic differences between a loan and a loan.
The regulations under which loan companies operate are definitely less restrictive. Because of this, you can come across free loan offers, but you will never come across free loans.
What does it mean that the loan is free
This loan agreement does not involve any additional fees. Simply put – you pay the company back the exact amount you borrowed.
Free products are usually offered to new customers of the selected company. They mainly concern internet products.
The amounts of the first free internet loans oscillate around 3,000 PLN.
In this article you will learn the maximum amount of payday pay.
Remember that the procedure for providing a free loan is the same as for a paid one. The selected company will check your data in the debtors’ databases and may reject your application due to lack of creditworthiness.
When a free loan ceases to be free
The loan remains free only in the event of timely repayment. This means that if you do not return the money within the prescribed period – the company will impose a number of additional fees on you.
Mention may be made of criminal interest and other costs (e.g. payment for sending calls to settle obligations or collection costs).
The procedure, if the repayment deadline is exceeded, is no different from paid products.
If you don’t pay back a free loan, your case may also go to court – and ultimately to the bailiff.
Check what’s the risk of unpaid payday loans.
Why companies grant free loans
There are 3 main reasons why companies decide to borrow money for free:
- acquiring new customers
- fight with competition
- avoiding APRC in advertising
Acquiring new customers
Free loans are granted to new customers as the first product in the selected company. The online loans industry has been operating in Poland since 2012. Many customers are still not convinced to use this type of service.
Free products allow them to safely “test” the services of a selected company. Market research indicates that over half of the loan companies’ clients use their products many times. Because of this, companies treat free products as investments.
Subsequent loans in the same company are already paid (although with a better history – the client also gets access to borrowing more money).