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Szybka Gotówka Non-Bank Loan – Review

Szybka Gotówka is a non-bank short-term loan (a so-called "payday loan"), intended for ad-hoc cash needs, not as a substitute for a bank loan or a longer-term cash loan. The offer is aimed at adults who need quick access to cash for a period measured in weeks, not months or years, and who are able to repay the borrowed amount within a short term.

APRC and cost of the loan

The Annual Percentage Rate of Charge (APRC/RRSO) of this loan is 145%. This is the only binding measure of the total cost of this product and it's worth keeping in mind when comparing with other non-bank offers – the APRC for payday loans tends to be high, because it takes into account all fees and commissions converted to a full year, even though the loan itself is repaid within a few weeks. The maximum loan amount is PLN 20,000, and the minimum amount that can be borrowed is PLN 700.

The lender provides a specific representative example: a loan of PLN 2,000 for 30 days involves a commission of PLN 321.10 and interest of PLN 25.35, giving a total repayable amount of PLN 2,346.45. This clearly shows that with payday loans, the commission - not the interest - makes up the vast majority of the cost, which is why when comparing offers it's worth looking at the APRC and the total amount payable, not just the nominal interest rate.

Terms and requirements

According to the lender's data, the repayment period of this loan falls within the range of 1 to 3 months, although the Szybka Gotówka website explicitly mentions a maximum repayment period of up to 65 days – the exact available period may depend on the chosen loan amount, so it's worth verifying this individually in the calculator at the application stage.

The lender requires the customer to be at least 18 years old, hold Polish citizenship, have an account with a Polish bank, and have a mobile phone with internet access. The offer provides for the possibility of extending the financing "in selected situations," but the website does not specify the exact conditions or additional costs of such an extension – before using this option, it's worth asking the lender directly for details, because with payday loans an extension of repayment is usually associated with an additional fee. The website also does not provide information on the rules for possible early repayment of the loan, so this issue should also be clarified before signing the agreement.

How to apply

The application process takes place in several steps: first you choose the loan amount and period using the calculator available on the website, then you fill in an online form, after which you need to verify your identity using the Autopay system. After verification, the lender declares that a decision can be made in less than 15 minutes, and after a positive decision, the funds are disbursed.

Summary

Szybka Gotówka is a typical payday loan offer – a fully online process, a short waiting time for a decision, and the possibility of borrowing up to PLN 20,000. However, it should be remembered that with an APRC of 145%, this is a costly solution that only makes sense as an ad-hoc solution for a very short term – not as a regular source of financing. Before signing the agreement, it's worth carefully checking the total cost for the amount and period you choose using the calculator on the lender's website, and also asking about the exact rules for a possible extension of repayment and early repayment, as this information is not stated directly on the website.