Demographic trends in Poland are clear-cut. We are talking about a rapid increase in the number of seniors awaiting us in the coming years. The aging of Polish society is a constant trend that will be practically irreversible.
Therefore, many companies (including loans) must gradually adapt their offer to the expectations and needs of seniors. Such older people use the Internet more and more often and are interested in financing small expenses outside the bank.
With older Good Finance readers in mind, we checked which companies have the best loan offer for them.
Lenders sometimes do not specify the maximum age of the client
In Good Finance and our loan comparator rankings, we present many offers of quick non-bank loans that are available to older people. Among such a large number of proposals, we decided to choose the four most interesting options (presented in the table below).
Two loans selected by us are characterized by the lack of limitations on the maximum age of the client. This solution is used by Fast Cash and Wong. In the case of Honest Bank, the maximum age of the client is 78 years. The same limit for Across Lender loans is 75 years.
It is worth mentioning that many companies offering fast loans via the Internet set much lower age limits for the oldest applicants. People who are more than 65 years old or 70 years old cannot take advantage of the offers of some loan companies.
Fast internet loans as a good proposition for seniors
Detailed information on the above loans:
- Fast Cash – loan amount for regular customers from USD 100 to USD 6,000. Repayment period from 1 day to 30 days and from 60 days to 65 days (up to 30 days for new customers). The lender does not require income proof documents. A loan for people at least 18 years old. A loan can be paid out in 15 minutes.
2. Honest Bank – the loan limit for regular customers is USD 7,500. Repayment period from 1 day to 30 days. The lender does not require income proof documents. As part of the recommendation program, Honest Bank pays USD 30 for acquiring a new borrower. A loan for persons aged 20 – 78 years.
3. Good Credit – as part of the promotion, the cost of the first one-off loan (even for 60 days) is reduced to USD 10. The amount of the first one-off loan from USD 50 to USD 1,500. An installment loan for new customers (up to USD 10,000) can be repaid in monthly installments (up to 24). The one-time loan limit for regular customers is USD 2,500. The lender does not require income proof documents. A loan for persons from 18 years of age. Regular customers can count on reducing the cost of the loan (up to 45%).
4. Across Lender – as part of the promotion, the first loan is free. The amount of the first loan from USD 100 to USD 1,500. The maximum amount of the second, third and fourth loans is USD 2,000, USD 2,500 and USD 3,000, respectively. Under the next loans, the client may receive up to USD 4,000. Repayment period from 1 day to 30 days. The lender does not require income proof documents. A loan for persons aged 20 – 75 years. A loan can be paid out in 15 minutes.
Senior can borrow up to 6,000 USD for free and without any formalities …
All loans presented, except for favorable conditions regarding the customer’s age, are also distinguished by the lack of the obligation to provide income certificates. That is why seniors will not have to, for example, scan documents from the Social Insurance Institution confirming receiving a pension or sending bank account statements.
It should be emphasized that all the analyzed companies offer preferential conditions for the first “moment”. In the case of Good Credit, a loan for new customers (worth 50 USD – 1500 USD) costs only 10 USD (see the table above). Good Finance customers can also benefit from an installment loan of up to USD 10,000.
Three other companies have opted for completely free loans for new clients (including seniors). Minoan customers borrow up to USD 1,500 for free. Honest Bank, on the other hand, will set a twice as high limit for free “instant” (3000 USD). Fast Cash is the unquestioned market leader.
New clients of this company can borrow up to USD 6,000 for free. Of course, much smaller amounts (up to USD 100) are also available. Seniors, like other lender clients, should adjust the amount applied for their financial capabilities.