Payday conditions, In order to receive a loan from Orange Credit , a person should meet the following conditions:have a steady income; be at least 20 years old; not to be entered in debt registers, not to be in arrears with payment of financial liabilities.
Time to receive payday pay
The “Woman with cash” website evaluates the loan application within several minutes. If the application is approved, you will receive the money expressly . In other cases, the time may be extended to two business days. Extension of repayment
On the “Women with cash” page you can find information that the extension works on the basis of a refinancing loan (another service from the Friendly Finance group repays the liability, but a new one is created, formally towards another lender). In the event of delay, the lender may charge interest for delay (twice the sum of the NBP reference rate + 5.5 percentage points), as well as take other measures to repay the loan.
21 days for bank decision
The Mortgage Act also specifies the maximum time in which the bank must provide the customer with information about the credit decision taken. Pursuant to the regulations, the analysis of the application may take up to 21 days from the submission of a set of documents and after that date the credit decision must be forwarded to the client. This is new because currently the waiting time for consideration of the application is an internal regulation of each bank. Although in most cases market practice shows that these times are much shorter, however in some institutions the decision to grant a loan will have to wait longer.
The new regulations also regulate the principles of advertising loans. All information provided should be unambiguous, understandable and visible. The published values (e.g. interest or installment) should be calculated for a representative example. It is defined as a loan that will be offered on the same terms to at least two-thirds of the borrowers in the bank’s portfolio, taking into account the average loan period and the total loan amount.