Bank – opinions on installment loans

Honest Bank is a limited liability company that offers immediate cash loans. It operates independently of banks and provides services mainly via the Internet.

It has been on the market only since April 2018, but it well complements its offer with services that are lacking in competing offers. It is one of the few loan companies that in addition to traditional payday loans also offer online installment loans.

Every month several hundred people use the services of Honest Bank. Opinions about this company are therefore rather positive. Are you wondering if it is worth considering a loan at Honest Bank?

How do you get a loan from Honest Bank?


Wondering how to take payday loans in Honest Bank? Loans from this company are available without leaving your home. All you have to do is fill out the appropriate form and the company employee will analyze your application. What does the process look like step by step?

1. Register in the Honest Bank system

As with most loans, you must first set up a dedicated profile in the appropriate system. The registration form is available on the website. You must provide your basic personal data, such as:

  • first name and last name,
  • Social Security,
  • residential and registered address,
  • Phone number,
  • e-mail adress,
  • Bank account number.

In addition to personal data, you will also need to indicate where you receive your income and what is the amount of it. It doesn’t have to be just one source. If you receive additional funds, for example from a pension, please enter them in the form. Your chances of getting a loan will increase as a result.

2. Perform the verification transfer

Step two is to make a transfer that will confirm that you have entered the correct account number. The registration fee is one zloty, and you will receive the account number to which you transfer it after completing the form.

3. Attach the document confirming receipt of the income indicated on the form

In addition to completing the form, you must also attach a document that will prove your income. This can be, for example, a bank statement from recent months or a scan of the employment contract. You can also deliver the attached file without leaving your home.

4. Wait for your application to be verified

Honest Bank reviews applications on business days from 8:00 to 19:00. So if you send the form over the weekend or after business hours, your application will be processed the next business day.

Who can take out a loan at Honest Bank?


Before you take a moment to fill out the application, you should check whether you meet the requirements that the company places to its customers.

The loan is available to people who:

  • have Polish citizenship,
  • will show that they receive a fixed monthly income,
  • are between eighteen and seventy-five years old,
  • have a telephone and an open bank account,
  • they have no debts entered in the Economic Information Bureau database.

If you meet all these conditions, you can almost be sure that the money will go to your account.

Loan costs with Honest Bank


The cost of an Honest Bank loan depends on how long and how much you borrow. You can choose between 300 USD and 10,000 USD. You can give it back after fifteen or thirty days.

As a new customer, however, you have the right to apply for a maximum loan of USD 3,000 . The amount you can receive only increases with each subsequent loan. How does it look in practice?

  • 1 loan – a maximum of USD 3,000
  • 2 loan – up to USD 4,000,
  • 3 loan – up to USD 5,000,
  • 4 loan – up to USD 7,000,
  • 5 loans and each subsequent one – maximum USD 10,000.

The second option Honest Bank offers is an installment loan. You can spread it over a maximum of thirty installments. For example, if you borrow 1000 USD and spread them over twelve installments, your monthly installment will be 133.75 USD. In the end, you’ll pay 1605 USD.

What does customer verification at Honest Bank look like?


Honest Bank checks its clients in the InfoMonitor Economic Information Bureau . So if you are in it, your chances of getting a loan from this company fall to zero. Unlike many other competing companies, Honest Bank does not check its customers directly in the BIK database.

Loan repayment in Honest Bank


The loan repayment schedule is set together with the lender. If you stick to it, you will not incur additional costs related to lending. You can also pay back the loan faster. In this way, your costs will be reduced by the time you have not used it.