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How much do banks earn on cash loans?

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Over the past six years, bank fees for granting cash loans have increased almost fourfold. Interest on loans today is only a quarter of the total cost of credit. For several years in the Polish market, there have been low-interest rates. This meant that banks could not charge interest higher than 10% per annum. For comparison, in 2013, the interest…

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Cash loan – early repayment

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Early repayment of cash loans is a goal for many borrowers. Freeing yourself from your monthly commitment certainly improves your well-being and gives you some freedom. The moment we get extra money or our income increases and we have extra cash, the question arises. Is it worth paying off the cash loan in advance or overpaying the loan installments? Is…

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Banks create provisions for dollar loans and commission returns

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Banking reserves for general risks are created by the bank’s management board in relation to the recommendations of auditors and assessment of the situation in the financial sector and due to the socio-political situation (Article 130 of the Banking Law. Increasing reserves by banks always result in an economic slowdown and greater caution of the financial sector in investing and…

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Do you run a business and are thinking about a mortgage next year?

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Do you run a business and are thinking about a mortgage next year? See how to prepare for it in advance. Read on the blog that you can do in advance to increase your chances of getting a mortgage. Ensure high income – the bank will calculate your monthly income based on the average of the last 12 months. If…

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Loan for a flat without own contribution

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Is it possible and how to buy a flat without own contribution? – This is a question that worries many people dreaming of their own corner. We can already say that yes – you can buy a flat and take out a mortgage without a cash deposit. The regulations do not require that their own contribution be expressed in it.…

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Why do we pay commissions on the loan?

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When taking out a loan from a bank, especially a mortgage, we have to take into account the necessity of paying high commissions. This significantly increases the cost of borrowing money. Why do banks charge various types of commissions? For them, it’s quite an attractive income. According to Credit Checker data, in 2017 over 15.3 million Poles repaid bank loans…

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