The MD loan is most often provided in the form of a short-term loan provided by a non-bank company through online or SMS loans. If a woman has the opportunity to prove her income or has a guarantor on her MD, she can also try her luck at the bank.
Loan on MD without guarantor
It is only possible to obtain a maternity loan without a guarantor or co-applicant in certain situations. Most often, it is provided by non-bank companies that offer smaller short-term loans or a consumer credit with a lower limit. In case you choose a short-term loan, you do not need to prove your income and the loan to the MD is without a guarantor.
Bank and non-bank loan on MD
Several banks offer a loan to the MD. If the applicant in the bank has a bank account for a longer period of time, then it is no problem to obtain a loan from the bank. Often, however, a co-applicant is required. A preferred overdraft option may be a preferred alternative. The one is ideal to ask for before maternity leave, when the payroll goes. The downside is to check the debtors’ register, if you have a negative record, it is clear that the bank will not lend you.
The non-banking sector offers more possibilities for loan applicants to the MD. You can choose short-term loans up to CZK 10,000 without a guarantor, pledge or co-applicant. Also, no income is required, only in exceptional cases is the applicant invited to provide an account statement. The advantage is a very fast handling of the loan application. The entire process may not take more than 60 minutes. However, you must calculate with lower amounts, shorter maturities. You can also help choose an appropriate loan online comparison. It offers over 40 verified lenders, you can choose by interest rate, APR, number of installments, or whether the loan is interest-free. You can apply for a loan immediately or compare other products.