Loan is a quick and easy solution, moreover, when you do not have to go anywhere and handle everything via the Internet from home. Actually, you just need to choose the best lender. But how do you correctly assess that it is the right choice and not a fraud?
What should a non-banking company want from you?
Banks and non-banking companies are supervised by the ABC and must comply with the applicable laws of the Czech Republic. It obliges them to verify certain information about their potential clients. If some companies do not, they not only violate the law, but their credibility decreases considerably. Lending to everyone without identity or income verification is risky not only for them but also for the loan applicant!
Client identity verification
If you apply for a loan, you need to borrow money and it is not possible to apply for someone else under a foreign name. This measure primarily protects you from the risk of misuse of your personal data. The inconvenience that would result from this, we certainly do not have to list. In addition to checking if it’s really you, your age needs to be verified. After all, the loan is a certain responsibility, and under 18, loans are generally rejected. Usually, an identity card, ie an identity card and / or a driving license, is sufficient to verify. Personal documents must of course be valid and undamaged. In the case of an Internet loan, it is important that copies are complete and legible.
Responsible lending. A password that every credit intermediary should follow. One of the guiding principles of responsible lending policy is to verify clients’ creditworthiness, in other words, the client’s ability to repay his loan without major problems. Creditworthiness is assessed by experts, based on your income. These can be evidenced in an online loan in several ways:
• Pay slips, statement of account or pension confirmation
• Self-employed persons can provide a tax return
Account holder verification
The great advantage of online loans is above all the speed at which you can have your money within minutes. There’s no need to go anywhere and everything is simply done from the comfort of your home. The funds are paid into a bank account and therefore the company must verify by law that the borrower is the owner of the loan. The easiest way is to send a small amount (CZK 1) to the broker’s bank account. How to borrow? What is needed for the loan?
Check the company and you!
We have already mentioned that banks and non-bank credit intermediaries are supervised by the ABC. In order to legally operate, they must have a ABC license. To date, only 85 companies have fulfilled and meet a number of conditions (APR, total loan amount, etc.).
Before requesting a loan, check on the ABC website whether a particular company has a loan license. Here’s how we show you in the video: