Cashspace

Cashspace – Non-Bank Loan Review

Cashspace is a short-term (non-bank) loan offer, aimed at people who need quick, small amounts of cash for an urgent expense. This is not a substitute for a bank loan intended for larger, long-term goals – loans of this type make sense as a solution for a temporary shortage of funds, repaid over a relatively short time, and it's worth treating them exactly in those terms.

APR and cost of the loan

The Annual Percentage Rate (APR) of this offer is 36%. This is the only binding measure of the total cost of the loan – it includes both the nominal interest rate and commissions and other fees, which is why it, rather than the interest rate alone, is worth comparing between different short-term loan offers. The maximum loan amount at Cashspace is PLN 5,000, with a lower limit of PLN 100.

The lender's website gives a specific representative example: for a loan of PLN 2,000 over a period of 3 months, the commission is PLN 18, the nominal interest rate is 3.65% per year, and the total amount to be repaid is PLN 2,018. It's worth remembering that this is an example calculation under specific assumptions (a specific amount and period) – the actual cost of a different combination of amount and repayment period will be different, so before signing the agreement it's worth checking the calculation for the variant you choose yourself.

Terms and requirements

According to the information visible on the lender's website, the loan repayment period falls within the range of 3 to 12 months. Submitting an application requires an ID card and the applicant's PESEL number – the website does not explicitly state other formal requirements (e.g. minimum age).

The lender's website states that the offers are also aimed at people with a poorer credit history. However, this is a marketing statement, not an official, unambiguous confirmation that verification in debtor databases is skipped – it should not be treated as a guarantee that credit history will not be checked in any way.

The website does not provide detailed rules for a possible extension (rollover) of the loan or the terms of early repayment. This information needs to be checked directly in the loan agreement before signing it – its absence on the marketing page does not mean such rules don't exist, only that they aren't highlighted there.

How to apply

According to the lender's website, the application process involves several steps:

1. Fill in the application form online
2. Check the list of available offers
3. Choose the offer most favorable to you
4. Wait for approval by the lender

Summary

Cashspace is a typical non-bank loan with an APR of 36% and an amount limit of up to PLN 5,000, with a repayment period of 3 to 12 months. Before submitting an application, check the terms of the agreement carefully for the rules on any possible extension of repayment and the costs of early repayment – the lender's website does not explicitly state this information. An APR of 36% remains the key indicator worth comparing with other short-term loan offers available on the market before making your final decision.