Payday loans – how much does it cost

Most loan companies offer new clients the first payday loan for free. This means that after the deadline indicated in the contract, you must give the company exactly the same amount of money that you borrowed.

This loan has an APRC equal to 0% and is not associated with any additional fees. In addition, you can access additional funds on your account without leaving your home – all you have to do is create an account on the website of the selected company and submit an application.

So why the common opinion that payday loans are expensive?


You must remember that payday loans are only “free” if they are paid back on time. Late payments impose various fees. The maximum amount of additional fees is regulated by law and currently amounts to about 25% of the payday loan amount per year.

In addition, the promotional price applies only to new customers. If you want to use the services of the selected company again – another payday loan will be payable.

In that case, why are customers not only using promotional offers? After all, they can choose from several dozen companies.

A lot of customers do just that. However, the amount of free payday loans is limited (currently the highest promotional offer is PLN 3100). If you want to borrow more money – you must have a good history in the selected company (this means several payday loans paid off earlier).

Where does the price of payday pay come from

Where does the price of payday pay come from

The three most important legal acts that determine how loan companies operate are:

  • Civil Code
  • Consumer Credit Act
  • Act on financial market supervision (its amendment is called the “Anti-usury Act”)

The Civil Code defines the general framework for the functioning of each contract. Under it, the lender has the right to demand remuneration for providing money to the borrower (but he does not have to do it). Pursuant to this provision, companies grant the first free loans (banks cannot do this – because they are subject to other laws).

Act on consumer credit and the so-called Anti-usury Act has set the maximum amount a company can charge for borrowing money. This amount depends on several moving indicators (at least the NBP lombard rate) – and is currently around 30%. In addition, the final costs of payday pay may not exceed 100% of its value.

Make the most of payday loans


First of all – it’s worth using promotional offers (free payday loans). Nothing prevents you from “testing” the services of several companies in this way.

If you are satisfied with the course of the first transaction – compare the costs of competition and assess whether the next one will be equally profitable.

Loan companies also compete with repayment terms and conditions. You can meet larger or smaller repayment periods (15 days, 30 days, 90 days, etc.). The fees for any “extension” of payday pay are also different. Therefore, before making your selection, carefully review the offer of at least several companies.