Mój pierwszy kredyt

Mój pierwszy kredyt by Erste Bank Polska - Review

"Mój pierwszy kredyt" ("My First Loan") is a cash loan product from Erste Bank Polska aimed at borrowers looking for a relatively small, simple loan - from PLN 500 to PLN 30,000, with the maximum loan term set individually by the bank based on a creditworthiness assessment. The offer is aimed at new customers of the bank and does not cover consolidation loans, and the low ceiling makes it a product for people needing a modest cash injection for everyday expenses, a small renovation, or paying off another, smaller obligation - it is not designed for financing large purchases. This review is based on the bank's offer page (as of 14 October 2026). Erste Bank Polska is the former Santander Bank Polska, which has belonged to the Austrian Erste Group since 2026 and changed its name in April 2026; it also serves retail customers. You can apply for this loan online (amounts from PLN 500 to PLN 9,000) or by phone (PLN 1,000 to PLN 30,000); with a phone application, the agreement is signed within 30 days at a bank branch or partner outlet.

Interest Rate and APR

The nominal interest rate is 7.69% per year for new customers. According to the bank's page, the rate is fixed for loans of up to 24 monthly installments and variable above 24 installments (the 45-month representative example nevertheless states a fixed rate, so confirm the rate type for longer terms with the bank). This nominal rate alone does not capture all the costs of the loan, which is why the Annual Percentage Rate (APR/RRSO) matters most for comparing offers - it bundles the interest, commission and other fees into one annualized figure. According to the bank's offer page, the APR for this product is 7.97% (in the representative example).

The small gap between the nominal rate (7.69%) and the APR (7.97%) is because in the representative example the commission is PLN 0 and the whole cost of the loan is interest. Before signing anything, always ask your advisor for a fresh, individual APR calculation for your specific amount and term - that figure, not the nominal rate, is the binding measure of the loan's cost.

It's worth remembering what the APR is meant to capture in the first place: by law it should reflect every cost a borrower incurs under the agreement - not just interest, but also any commission, arrangement fees, or the cost of required add-on products, spread across the whole repayment period and expressed as one comparable annualized figure. That's why the APR, not the advertised "from 7.69%", should be the first number you look at when comparing "Mój pierwszy kredyt" against other banks' offers.

Total Cost

The bank provides a representative cost example (calculated as of 9 July 2026, APR 7.97%): for a loan amount of PLN 21,800, at a fixed rate of 7.69%, over a 45-month term, the monthly installment is PLN 559.73 (44 installments), with a final balancing installment of PLN 536.68. The total cost of the loan in this example is PLN 3,364.80 - entirely interest, with no commission. The total amount to be repaid (principal plus interest) is PLN 25,164.80.

This example illustrates the loan's structure well (equal installments, no commission, fixed rate), but treat these figures as illustrative rather than a guaranteed cost for your own loan. As with any consumer credit, this is only a representative example under specific assumptions, not a guarantee of identical terms for every customer - your actual installment and cost will depend on your creditworthiness, credit bureau (BIK) history, and any additional products.

Also note that the bank sets the maximum loan term individually, and the term you choose has a major effect on the relationship between the installment size and the total interest cost. A shorter term means a higher monthly installment but a lower total cost (fewer months of accruing interest), while spreading the same amount over a longer term lowers the installment at the price of higher total interest. The 45-month example above is just one point in that range - if you're planning a different term, ask the bank for a separate calculation for your own amount and term rather than extrapolating from the figures here.

Requirements and Safeguards

You can use the offer if, for at least 4 months before the day of the application, you have not been a party, as a consumer, to any credit or deposit agreement with the bank. The loan is repaid in equal installments for the whole term, meaning a predictable, unchanged installment amount from the first to the last payment (except for the final balancing installment shown above). The arrangement fee (commission) is PLN 0 (0%) - a confirmed, genuine absence of commission, not a data gap. According to the bank, early repayment is free of charge.

Our data does not include confirmed information about any required insurance, a threshold amount above which a spouse's consent would be required, or any collateral-free threshold - these fields are empty in the source data, which means missing data, not a confirmed absence of such requirements. An attempt to check the bank's current offer page did not surface additional clear information on this either. These points are worth clarifying directly with an Erste Bank Polska advisor before applying.

As with most cash loans on the Polish market, the bank's credit decision will likely take into account the applicant's creditworthiness, including income level and source, and repayment history on other obligations - standard banking practice in Poland, independent of this specific offer's terms. It's worth preparing income documentation before applying, and first-time borrowers should be aware that a lack of prior credit history is sometimes treated more cautiously by banks than an established, positive repayment record.

Pros and Cons

• Pros: an APR of 7.97% in the representative example, only slightly above the nominal rate (7.69%), no arrangement fee, equal installments that make budgeting easier, free early repayment.
• Cons: only for new customers (no credit or deposit agreement with the bank for at least 4 months); above 24 installments the rate is variable according to the bank's page; the maximum loan amount is capped at PLN 30,000; online applications only up to PLN 9,000; there is no clear information on any insurance or spousal-consent requirements.

Verdict

Erste Bank Polska's "Mój pierwszy kredyt" is a simple, straightforward cash loan for small amounts for new customers of the bank - no commission, equal installments and an APR of 7.97% in the representative example. Its limitations are the requirement of no agreements with the bank for at least 4 months, the PLN 30,000 cap and a variable rate above 24 installments - so before signing, always ask for a current, individual APR calculation for your own amount and term rather than relying on the advertised nominal rate alone.