Cash loan at bank- what conditions?

The cash loan offered by OutBank will suit customers who have an account in this bank, which are affected by income from remuneration. The possibility of submitting an application in many ways may also interest new customers. The Bank also prepared special conditions for customers using the Premium, Private Banking and Wealth Management offers.

Cash loan at OutBank – what can it be used for?

Cash loan at OutBank - what can it be used for?

The loan proceeds can be used for any purpose. This loan can also be treated as a consolidation loan. 

How much can you borrow at OutBank and for how long?

How much can you borrow at OutBank and for how long?

The bank offers the possibility of borrowing from PLN 1,000 to PLN 160,000. The maximum loan repayment period is 8 years and the shortest liability lasts not less than 3 months. The customer can also choose the installment repayment date, which will be most convenient for him. However, the bank reserves that it will apply variable interest rates for loans with a repayment period of over 36 months.

Who is the cash loan at OutBank for?

Who is the cash loan at OutBank for?

Not only people who are employed under an employment contract can afford a cash loan. The bank accepts various sources of income, including work contract, mandate contract or retirement. Moreover, personal account holders can submit an application in online banking. 

Cash loan in OutBank – how to apply?

Cash loan in OutBank - how to apply?

The loan can be made during one visit to a bank branch or by phone contact with an adviser. It is possible to set up an online loan – without having an account in the online banking system. Such an application can be found on the bank’s website or Bankier.pl. 

How much does a cash loan at OutBank cost?

How much does a cash loan at OutBank cost?

The interest rate on the loan at OutBank depends on the loan amount. The customer can count on lower interest rates if a higher commitment is made. The minimum rates given by the bank range from 7.79 to 8.99 percent. 

The above interest rate applies to loan amounts without commission fee. The bank reserves that its amount depends on the customer’s creditworthiness result. The maximum interest rate is 10%. regardless of the amount of credit taken. The interest rate may change if the loan period is longer than 36 months. 

The commission on granting a loan at OutBank depends on several factors. Its reduction is influenced by: 

  • loan amount,
  • status of a regular customer of OutBank,
  • how to apply for a loan,
  • using the Safe Loan insurance program.

The minimum commission rate is 2.99 percent. The maximum commission can be 10 percent. In addition, the commission is not charged if the customer allocates at least half of the loan (at least PLN 4,000) to consolidation of existing liabilities in other banks.

The bank gives the possibility of crediting the commission – in this case the commission is added to the loan amount and deducted at its withdrawal. 

Safe Loan insurance program – insurance coverage and fees

Safe Loan insurance program - insurance coverage and fees

The customer can choose one of two types of insurance program:

  • BP Silver Plus – the scope of insurance includes: death of the insured – also in the event of an accident, total and temporary incapacity for work, loss of permanent source of income and hospitalization of the insured,
  • BP Gold Plus – the scope of insurance includes: death of the insured, serious illness and hospitalization of the insured.

The monthly fee for the insurance program is:

  • 0.28 percent x loan amount – if there is one borrower in the loan agreement, 
  • 0.28 percent x 0.50 x loan amount – if the loan agreement includes two borrowers.

Cash loan in the Premium offer

Cash loan in the Premium offer

A Premium cash loan is also available that allows you to borrow up to PLN 250,000. What’s more, customers using the Premium, Private Banking and Wealth Management offers can count on more favorable pricing terms. 

As with the standard offer, a loan taken for a period of 36 months has a fixed interest rate, in the case of a loan taken for more than 3 years, the interest rate is variable.