A quick borrowing of money does not necessarily mean that you need to apply to a loan company that offers payday loans via the Internet. As you know, they are very expensive (with the exception that there are loans for free for new clients of a given company) and therefore they burden our household finances very much. When there are no free funds on our bank account, and we have several days to withdraw, we can use the bank product which is the debit on the account.
What is debit? It is a product directly connected with our bank account, therefore we can apply to it only in the bank, which is affected by our payment or retirement. By granting us a debit, the bank gives us the opportunity to choose more money from our account than it actually is. For example, if our account affects PLN 2,000 each month, and the bank has granted us a debit of PLN 1,000, we have PLN 3,000 in total. Of course, we do not have to use the debit granted in full and every month. If we do not need additional money, we do not have to choose them and therefore we will not have to pay interest. For banks charge interest only when we borrow money from the debt and only from the funds we use. The debit is paid automatically, when money from withdrawal or from another source appears on our account. When it is paid back, we can use it again automatically.
Many people are certainly wondering what determines the amount of debit that the bank grants us. And here is a fairly simple and clear answer. Our monthly account receipts have the biggest impact on its amount. At the time the debit application is processed, the bank pays less attention to our creditworthiness or history at the Credit Information Bureau, and analyzes our turnover and, in particular, the income on the account. Thanks to this, it can easily be stated how much debit we can give and this amount usually does not exceed our monthly income. Therefore, the bank is sure that each month the debit will be repaid, ie the money will be returned to this institution.
Is it worth using the debit? For sure if we are in a crisis when it comes to finances, this is one of the best solutions, especially when it comes to loan costs. So it is worth having such a reserve, although we must realize that the debits are recorded in the Credit Information Bureau, so when we have debit, we may have a bigger problem with obtaining a different loan.