10 hints on how to buy by installments
Magdalena Parys

How often do you buy by installments? Do you remember all the steps that must be taken? Luckily, you can find a suitable checklist on our blog.

We have already provided reasons advocating for installments. Now it is time for a 10-item checklist with basic rules for all of you buying by installments or planning to do so. The list may come in handy during the very purchase process and after taking the loan.

#1. Remember that delivery is a cost as well

Shipping cost is included in the amount to be covered by a loan. The total order value must be higher than PLN 300 but cannot exceed PLN 20,000. Moreover, you can pay for more than one product from your cart.

#2. Decide about the loan period

Decide about the number of monthly installments (from 3 to 36). You can check the installment and total loan amount using this calculator.

#3. Get ready for formalities

To fill out a loan application, you need your ID, bank account number and information concerning your income and employment.

#4. Buy an insurance policy if needed

Such insurance should always be an option, not an obligation.

#5. Verify data you enter

For the purpose of identity verification, you need to make a refundable transfer. Transfer data must match the data included in a loan application (in other words, it should be always “William” or “Bill”, not “William” and “Bill”). Remember to use your account to make the transfer – do not use your spouse’s account. In order to improve transaction security a bank consultant may call you.

#6. Read the contract

The document should include a repayment schedule and rules as well as provisions concerning breach of contract.

#7. Do not keep a product that does not meet your requirements

Check the loan contract you received to your email address to find a repayment schedule. If an installment is due, you will be subject to consequences set forth in a contract concluded between you and a bank (lender). The contract withdrawal includes two steps – first return the item within 14 days from the receipt. Then withdraw from the loan contract (within 14 days after concluding it) through the bank (lender). 

#8. Repay your installments on time

Check the loan contract you received to your email address to find a repayment schedule. If an installment is due, you will be subject to consequences set forth in a contract concluded between you and a bank (lender).

#9. Make sure you have enough fund

Remember to have enough funds on your account at the installments’ maturity day.

#10. Inform the bank about changes

If you lose job, you can negotiate the contract or suspend the repayment.