Payday Loans – Advantages and Disadvantages of the Loan

The payday loan is available from PLN 100 to PLN 2,000 for a period of 15 or 30 days. The company provides a promotion for new customers, thanks to which, by borrowing for the first time, you can take advantage of the first free loan offer. Thanks to it, the new Client can borrow without incurring costs (PLN 0) from PLN 100 to PLN 1500 for a period of 30 days. Interestingly, the company provides on its website that it does not check applicants at BIK. Below you will find a detailed discussion of payday terms and conditions and the rules on which you can use it and its advantages and disadvantages. Under this review you will find the opinions of the blog readers and payday Clients about the company and the loan.

Quick payday loan without BIK:

  • the first loan up to PLN 1500 for PLN 0,
  • next from PLN 100 to PLN 2000,
  • for 15 or 30 days,
  • quickly and without unnecessary formalities,
  • all you need is your ID card and your own bank account,
  • for everyone from 21 to 78,
  • decision in 15 minutes,
  • money in an hour on your account!


The first loan for free, cost = 0 PLN

The first loan for free, cost = 0 PLN

Payday, as part of the promotion, gives new clients applying for a loan the first opportunity to use it for free. The new client lends without interest, commission and other costs from PLN 100 to PLN 2000 for 30 days. The cost of the first loan is equal to PLN 0 and the APRC in this case is equal to 0%. However, for a loan to be free, it must be returned on time. In the event of late repayment, fees will be charged as per the standard conditions.

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Who can use the payday loan?

Who can use the payday loan?

A quick loan via the Internet can be granted to a Customer who:

  • is Polish citizens,
  • they have ID card and PESEL number,
  • they have their permanent residence in Poland,
  • is between the ages of 21 and 78,
  • has a personal account in one of the Polish banks,
  • has a mobile phone,
  • is not registered in the National Debt Register .

How to take advantage of payday?

How to take advantage of payday?

  1. Complete a simple loan application online. You will need your ID card and the number of your mobile phone. After completing and sending the application, you will receive an SMS with a 5-digit PIN number. Thanks to him you will be logged in to your account at payday, where your PESEL number will be your login name and the PIN number you have received with the password.
  2. You are waiting for a decision. If it is positive, then you carry out a verification transfer in the amount of PLN 0.01 from your bank account . This transfer is a confirmation of the terms of granting the loan, your bank account and personal data.
  3. You receive money. After the verification transfer, the money is immediately transferred to your bank account.

Read it before you apply:

  • How to make a request for a break, so that it will be granted?

Hours for processing applications


The Customer Service Office is open from Monday to Friday from 9:00 to 21:00 and on Saturdays from 10:00 to 18:00.

Moment of payday and problems with repayment

The Customer may submit an application to the Lender for the extension of the repayment period by 30 days. Such a repayment extension can be made twice for one loan. Such a request must be submitted no later than the fifth day after the due date. Extending the repayment of the loan does not require a fee, but a guarantee by the guarantor. Such guarantor goes through identification procedures and is subject to credit rating by the Lender. Providing a guarantor requires a special form, which must be signed by him in the presence of a notary public.

I admit that procedures related to the extension of repayment are so complicated that, in principle, they can be considered unfeasible.

Therefore, it is worth counting on intentions and lending only enough to be 100% sure that you will be able to return the commitment on time, so as not to expose yourself to penalty interest for late repayment.

In the case of late payment, interest is accrued at the maximum amount referred to in the Polish Civil Code, ie in the amount of two times the sum of the reference rate of the National Bank of Poland and 5.5 percentage points and are subject to change with the change of the reference rate.

Does payday check the debtors’ records?

Does payday check the debtors

How much does the payday loan cost?

A representative example for the first free loan:

  • total loan amount: PLN 1000 (without credited loan costs),
  • total cost of the loan: PLN 0,
  • the total amount to be paid: PLN 1000,
  • repayment within 30 days in one installment,

A representative example for another loan:

  • Actual annual interest rate (APRC): 1974%,
  • the total loan amount is PLN 1000 (without credited loan costs),
  • repayment within 30 days in one installment,
  • total cost of the loan: PLN 282.99 (including the administrative fee of PLN 274.66 and interest on the loan in the amount of PLN 8.33),
  • the total amount to be repaid: PLN 1282,99,
  • variable interest rate: 10% per annum (interest calculated on the basis of 365 days).

The granting of the loan depends on the result of the creditworthiness assessment.


The payday loan has advantages and disadvantages to know before deciding to use it


  • without checking at BIK and BIG InfoMonitor SA,
  • loan available online 24 / h,
  • BOK is also open on Saturdays,
  • available promotion the first loan for free,
  • without income statements,
  • without unnecessary formalities.


  • the company checks all registries of KRD debtors, ERIF and the Ferratum customer base,
  • minimum age of the borrower from 21 years,
  • high costs,
  • no possibility to avoid a verification transfer,
  • prolonging the repayment is possible only after delivering the guarantor (guarantor) and burdened with complicated procedures,
  • no loyalty programs and bonuses for customers.

Customer feedback about the company and the payday loan

The payday loan can arouse the interest of the readers of the blog. This offer can be told by more opinions of customers who have already used payday. Therefore, before deciding to use it, it is worth to read them. Therefore, I encourage payday clients to share their feedback about the loan with the readers of the blog. I also invite readers of the blog to evaluate this product, because every subjective opinion is a great source of knowledge for possible borrowers.

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