Loan is one of the basic financial products of banking and non-banking companies. When you take out a loan, you commit to the lender that you will repay not only the full amount borrowed but also the agreed interest within a certain period of time. Loans can be obtained by individuals, entrepreneurs and companies. The terms of the agreed loan, including the rights and obligations of the parties, are detailed in the loan agreement.
Types of loans
Loans can take many forms and are subdivided according to different criteria. Loans can be divided, for example, according to the type of collateral (secured and unsecured), the purpose (earmarked and unearmarked), the method of disbursement (cash and non-cash) or the maturity (short, medium and long-term). Ordinary citizens most often use cash loans, where a bank or non-bank company provides money in cash or non-cash form. The category of cash loans includes, for example, consumer loans, mortgage loans and overdrafts.

How to choose a loan?
If you’re interested in a loan, it’s definitely worth comparing offers from different providers. The loan parameters are set individually by each bank and non-bank company. It is always worth looking at the interest rate, RPSN, minimum and maximum loan amount, repayment period and collateral requirements.