Payday Loan – do I have to specify its purpose?
Do you need extra cash? In this case, you can submit a payday loan application right now, completely online.
One of the popular questions that arises in connection with payday loans is: do I have to specify its purpose? When we choose payday loans, we do not have to indicate at all what we will spend the money on.
Determining the purpose of the payday loan is not necessary, but the matter is different when it comes to payday loans. Here is the main difference between the two financial products, whose names we often use interchangeably.
payday loans may be granted only by banks under the terms of the Banking Law. One of the requirements is to define the purpose of the payday loan, for example, it may be the purchase of a flat, a car, or investments. In such situations, the money does not go directly to the borrower, but most often it is transferred directly to the recipient, for example to the developer or dealership salon. The case looks different when it comes to payday loans – these can be taken for any purpose.
You will spend a payday loan on what you want
We can take a payday loan not only from a bank, but also from a non-bank company or from a loved one, for example a sister or a neighbor. A payday loan is an operation that involves the transfer of funds for a definite or indefinite period. In contrast to payday loans, payday loan issues are regulated by the Civil Code.
Therefore, an installment payday loan or a rebate can be spent for any purpose. When borrowing a payday loan , we do not have to indicate what we will spend money on, which means that we can spend it on what we want. It can be, for example, buying the latest TV model, fridge, holiday trip, party organization, treatment, repaying your debts, just to mention a few goals. Everything depends on us!
Before you take out a payday loan, think about its purpose
Borrowing money costs. When we want to get a certain amount, in such a case we will have to take into account not only the need to give up capital itself, but also additional costs. These include interest, commission, preparation fees, insurance, when a payday loan agreement has been concluded.
We should decide on a payday loan only in a situation where we know what to spend it on. Borrowing for lending alone is an additional cost that will have to be borne, because otherwise we will be exposed to additional penalties, interest and inclusion on the list of debtors.
Take a payday loan now
If you need additional money for your expenses, our installment payday loan at is a proven choice. Together with us, you can borrow up to PLN 10,000 for a period of 24 months and allocate it for every purpose. You do not need to submit any collateral or surety to obtain a payday loan.
Now choose a payday loan for yourself at and submit an application on the website. You can receive the money without delay on your bank account or in the form of a money transfer. Take advantage of our offer!