AvaFin

AvaFin – a non-bank loan: who it's for and what it covers

AvaFin is a fully online non-bank loan offer that includes both a classic short-term loan and an instalment loan repaid over a longer period. It's a solution for people who need quick access to cash for a small, unplanned expense - it is not a substitute for a bank loan or a product for financing large, long-term commitments.

APR and the cost of the loan

For the short-term loan, the annual percentage rate (APR) is 298.92% - this is the only binding measure of the full cost of this type of product and is worth treating as the main reference point when comparing loan offers. In practice, for a loan of PLN 1,000 repaid within 30 days, the total cost of the loan (interest and all fees combined) is PLN 120.09.

AvaFin also offers an instalment variant, repaid over a longer period - up to 36 months. For example, a loan of PLN 5,000 over 36 months has an APR of 41.80%, and the total cost of the loan is PLN 3,188.89. This is clearly lower than the APR on the classic short-term loan, but it comes with a longer commitment and a higher total cost in absolute terms.

The maximum amount for a first short-term loan is PLN 5,000, and for a first instalment loan - up to PLN 30,000. Returning customers can get up to PLN 15,000 for 30 days.

Terms and requirements

The standard repayment period for the short-term loan is 30 days, while the instalment loan can be spread over up to 36 months. To get a loan, you must be between 19 and 75 years old, be a Polish citizen, have a PESEL number, a valid Polish ID card and a personal bank account registered in Poland, and the application is assessed for creditworthiness. AvaFin checks debtor registers - BIG InfoMonitor, BIG KRD and CRIF - which means negative entries in these databases can lead to a rejected application.

It's worth noting the first-loan promotion - under the promotion rules, the first loan can be repaid without the commission, preparation fee and capital interest, or with these reduced (the exact terms are set in the loan agreement), but only when the loan is repaid on time. If repayment is late, the promotion no longer applies and standard loan costs are charged.

How to apply

AvaFin advertises an express online application: the money can reach your account in as little as 5 minutes after you apply. The entire process - from application to payout - takes place online, with no need to visit a branch.

Pros and cons

Below is a short summary of the main advantages and drawbacks of this offer.

Summary

AvaFin is a flexible offer combining a classic short-term loan with the option to spread repayment into instalments, backed by a fully online and fast application process. The key decision factor remains the APR - for the short-term loan it reaches almost 300%, which is typical for this market segment but means a high cost on an annualised basis. The instalment variant has a clearly lower percentage rate, though it comes with a longer commitment and a higher total amount to repay. Before deciding, it's worth calculating the real cost of the loan in absolute terms for the specific amount and repayment period you need.