How much is a bank loan for PLN 15,000? This is not a question that can be clearly answered. The cost of the loan varies depending not only on the offer of the bank, but also on the repayment period we decide on. How to find a PLN 15,000 loan with a low installment?

The cash loan amount of PLN 15,000 unfortunately excludes customers from the most favorable loan offers for which lower interest rates apply. However, there is still a statutory restriction according to which banks may not apply an interest rate higher than 10%. However, this is not such a high amount that you cannot find a bank with promotional loan terms for PLN 15,000.

When looking for a payday loan for PLN 15,000 with a low installment, first of all you need to look at offers with a low interest rate and low commission – these two parameters have the greatest impact on the total cost of the loan and ultimately also affect the amount of the loan installment. Secondly, it should be guided by whether the bank requires additional insurance from the borrower – this can also increase our monthly loan repayment burden.

The installment amount also depends to a large extent on the repayment period we decide on – the longer the installment, the lower the installments will be (but remember that although the monthly charge will be lighter to repay, the final cost of the loan will be higher, because the bank will charge interest longer). That is why we analyzed two potential scenarios for choosing a loan offer for PLN 15,000.

## A payday loan of PLN 15,000 with a low installment – option for 2 years

The best loans for PLN 15,000 are connected with a monthly installment of PLN 720. It is currently one of the cheapest loans for this amount for 24 months. With this amount of installments, the total cost of the loan will be about PLN 2,300 – that’s the amount you will have to give back to the bank together with the borrowed PLN 15,000.

It is important to analyze bank loan offers well, because there are also much less favorable credit conditions for PLN 15,000 for 2 years. The highest installment we can find for these conditions in the Bankier.pl cash loan comparator is over PLN 800. This means that along with the amount borrowed, the bank will collect almost PLN 5000 of interest and additional fees from our account – that’s 1/3 of the amount borrowed.

## A payday loan of PLN 15,000 with a low installment – option for 5 years

The payday loan installment for PLN 15,000 will be much lower if we break down the repayment of the liability for a longer period. For example, the cheapest loans for this amount for 5 years will provide a loan installment of PLN 300. This is a much smaller burden than with a loan of PLN 15,000 for 24 months. In this case, the total cost of the loan for PLN 15,000 for 60 months will be PLN 3,000 – this is how much the customer will pay up to the amount credited.

However, the cost of the loan may be slightly higher in other banks. More expensive loans for PLN 15,000 can result in an installment of up to PLN 400 – PLN 100 a month more. The total cost of such a loan is then almost PLN 10,000 – that is, we must give the bank up to 2/3 of the amount borrowed for 5 years.

Therefore, you should always compare loan parameters – especially if you are looking for a loan for a longer period.