Recently, loans to foreigners began to be issued in Polish banks on more stringent conditions. Financial institutions are more willing to lend money to citizens of the European Union than to people from the post-Soviet states. The loan is issued on an individual basis, and the decision to grant it depends on the policy of a particular institution and on the market conditions. Finding an answer to the question of how to get a loan from a Polish bank is complicated by the fact that a financial institution takes into account the risk of non-repayment of funds lent to a foreigner.
Advantages of completing a loan agreement in Poland
The right to receive a loan in the Republic of Poland (hereinafter the Republic of Poland) is vested with people with a Pole's Card or with a Post-Card. In the latter case, the duration of the loan agreement must not exceed the validity period of this Card (with the exception of the mortgage).
One of the advantages of applying for borrowed funds from a Polish bank for a foreigner is the relatively low interest rates. Although at first glance, the difference is not so significant.
In Russia, for example, in 2021, the minimum average value of this indicator under standard conditions of cash lending fluctuates in the range of 10.5-12.5%, and in Poland - 8-10%. Nevertheless, with a large amount, even 2.5% noticeably affect the size of the monthly financial burden on the family budget.
But, perhaps, the main advantage of drawing up a loan agreement with a bank of the Republic of Poland is the stability of the foreign exchange market of this country. Taking a loan in dollars or euros, the borrower can rest assured that when repaying a loan in zloty, the amount of monthly installments will always be approximately the same.
Where is the best place to get a loan
There are 3 directions for obtaining borrowed funds in Poland. These are banking institutions, pawnshops, and online loans. Each method has certain pros and cons, each requires its own approach, as well as a set of documents.
Banks will issue a loan to a foreigner only after making sure of his financial solvency, that is, that he has a legal source of income sufficient to properly service the loan agreement.
But there are other factors as well.
Contacting a pawnshop is one of the most common ways to obtain borrowed funds in the Republic of Poland. There are many such institutions in this country, and they accept a variety of things, from household appliances to jewelry. The disadvantage of this method is the low level of payments - no more than 30%.
Online lending is becoming more and more popular in Poland. To use it, a foreigner must provide a phone number, passport data and personal identification number - PESEL, which is an analogue of the Russian TIN.
Mandatory conditions for obtaining a loan
To take a loan from a Polish bank, a citizen of another country needs to provide the following documents:
- international passport;
- the aforementioned PESEL;
- permission to stay in the Republic of Poland (residence permit or residence card);
In addition, the foreigner will most likely have to present
- bank statement (if the bank account is opened in another financial institution);
- employment contract.
And, of course, you will not be able to do without filling out a questionnaire. This can be done at the bank's office or remotely through its website.
As for the conditions, they are relevant, mainly in relation to the validity period of documents permitting stay in Poland. In particular, if a foreigner wishes to apply for a consumer loan, the financial institution will not refuse him if the residence permit is valid for at least one more year.
The same applies to the term of employment. Even when a citizen of another country does not plan to change his place of work in Poland, but is going to renew the card of the employing company, he will still be refused if the duration of this document is less than a year.
And one more important condition - the loan is provided only to adult borrowers.
Getting loans in cash
Polish credit companies lend cash to a foreigner upon the provision of the following documents:
- contract with the employer;
- certificate of salary for the last 3 months;
- certificate confirming the fact of payment of taxes.
To get an idea of the order of the numbers in force in this segment of the financial market of the RP, refer to the following table.
| Bank | Limit (PLN) / Term | Bid, % | Return method | Service rates |
|---|---|---|---|---|
| PKO Bank Polski | 1-120 thousand / up to 10 years | 3,46 – 28,45 | Cash to the cashier or online from a card | If the account and the plastic card were opened at the same time - 0 PLN. Otherwise - PLN 6.9 |
| WBK Bank Zachodni | For a cash loan "Easier installment" - from 20 thousand / up to 10 years | 4.99; FGPS (*) - 12.0 | -------«»------- | Cash withdrawals at any RP ATM are free of charge. Card service - 7 PLN / month. |
| Bank Millenium | 1 - 150 thousand / 108 months | 5.5; FGPS - 7.22 | -------«»------- | Card service - PLN 8 / month; or 0 PLN / month, if 1000 PLN comes to the card every month. |
| ING Bank Śląski | 1 - 160 thousand / up to 8 years | With insurance - 7.99, without insurance - 8.99 | -------«»------- | Commission fee for lending without insurance - from 2.99 to 6.99 percent of the loan amount. |
An asterisk (*) denotes an abbreviation for Actual Annual Interest Rate.
Foreign citizens who have taken out a cash loan at a bank in Poland will find it useful to issue an address intended for correspondence from a counterparty financial institution. The cost of this service is 90 euros per year.
Mortgage loans
Citizens of another country in the Republic of Poland are subject to the same requirements in the field of long-term housing loans as for native Poles: stability and legality of income, the availability of funds for an advance payment and the absence of overdue loans.
In numbers, it looks like this: if the family of a foreigner consists of 3 people; both parents work and receive a total income of at least the national average (in the middle of the 4th quarter of 2021 it is equal to 57,772 zlotys per year), then it will be possible to issue a loan for the purchase of real estate in the amount of about 485 thousand zlotys.
Information on the banks providing the largest long-term loans for housing is presented below.
- ING Bank Śląski, Euro Bank and BOŚ Bank - about PLN 500 - 650 thousand;
- Millennium, BGZ BNP Paribas and Raiffeisen Polbank - up to PLN 500 thousand;
- Citi Handlowy and Alior Bank - up to PLN 450,000.
At the same time, these institutions do not put forward special requirements for the citizenship of the borrower. But to reduce the financial risk from a foreigner, they will require a slightly larger amount of documentation compared to a citizen of the Republic of Poland.
Business Development Loans
For a loan for business development, it is necessary to register a company, conduct business, and introduce innovations financed by borrowed funds in the territory of the respective voivodeship of the Republic of Poland. For this purpose, you can apply not only to the bank, but also to the regional development agency. Such organizations function in every voivodeship.
Lending programs aimed at business development in Poland have the following average characteristics:
- rates range from 3.16 to 6.16%;
- the term of the loan agreement - up to 60 months;
- loan volume - up to PLN 400 thousand. This is slightly less than 100,000 euros;
- the size of the one-time commission for the issuance of funds:
- with a loan term of up to 2 years - 1% of the loan amount;
- if funds are provided for a longer period of time - 1.5%.
As collateral, banks accept any valuable property - movable and immovable, including those acquired at the expense of loaned funds and, in addition, guarantees from a specialized guarantee fund. Collateral is not required for lending up to PLN 50,000.
It should be noted that Russian banks are also participants in the RP financial market. Naturally, it will be easier for our compatriot to get a loan there for business development. Moreover, branches of Russian credit institutions are open not only in Warsaw. For example, near the border with Belarus, in Bialystok, there are offices of Sberbank and Bank Tinkoff.
What is an online loan and how you can get it
In general, an online loan is a service that provides the ability to send an application for a loan agreement via the Internet. After a short period of time, the required amount will be transferred to the applicant's card. For specifics, we will consider the conditions, the procedure for issuing and receiving money using the example of the Szybka Gotówka service, which is popular in Poland.
Let's list the conditions. For most companies operating in this segment of the financial market, they are typical:
- The borrower must be over 18 years of age.
- Availability of PESEL.
- A foreigner must have:
- a Polish bank card;
- Telephone number;
- E-mail address.
If these conditions are met, a resident of another country can expect to receive a loan in the amount of 100 to (maximum) PLN 6,000. You need to return the money no later than 60 days from the date of their receipt on the card.
Submitting an application involves performing the following actions:
- We go to the site of the Szybka Gotówka service.
- On the corresponding icon displayed on the monitor, we set the amount and the desired duration of using the borrowed funds. After that, data on the commission and interest rate will appear on the site page.
- We enter the necessary data into a simple form. At the same time, the service motivates to authorize through Facebook, since in comparison with the usual filling out of the form, the probability of a loan in this case increases by 25%. Click on the confirmation button.
The funds will be credited to the card in 15 minutes.
Conclusion
Summing up, let us briefly dwell on the advantages and disadvantages of lending in Poland. First, let's name the pluses:
- reliability of the banking system;
- although strict, nevertheless very understandable rules for granting loans for various purposes;
- owner's rights are under reliable protection, thanks to which even a foreigner who is the holder of assets need not fear for their safety;
- the lending rate is noticeably lower than in domestic banks.
There are also disadvantages. The main one is a consequence of the last of the above points. Against the background of the greater availability of the same mortgage, a foreigner may overestimate his financial capabilities and become insolvent. Then he, as in Russia, will be deprived of the subject of the pledge. But he also faces a ban on entry into the Schengen states.
If payments on a consumer loan are overdue, fines are issued to the debtor, and if they are ignored, the bank's security service is connected. She can contact the Russian law enforcement agencies. So they will also look for the unfortunate client in their historical homeland, and not only in Poland.
From the point of view of state interests, lending to our compatriots in the Republic of Poland is by no means a positive factor. After all, the interest paid does not strengthen the Russian, but the foreign - in our case, the Polish - banking system. In addition, the withdrawal of money abroad has a negative impact on the Russian economy.
