Frequently asked questions

A credit history is the track record of all loans, which you took. It is important for your history to be positive/good, then taking another loan is easier.

If funds on the account are insufficient the Bank shall assess penalty interest. The interest is due and payable in the first order, which means that a deposited amount will first cover the liability on account of penalty interest and then the loan interest and principal.

An Urgent Loan is a consumer loan for private persons, assigned for financing current needs.

Penalty interest in interest accrued for every day of delay in payment of loan instalments. The rate is specified in the valid Price List.

A financed fee means that the fee amount is included in the amount of monthly instalments, thus it is added to the loan amount. Current Customers of the Bank who have a current account in Bank Millennium since at least 6 months, can choose between financing the fee or paying it with the first loan instalment.

Yes, you can get an Urgent Loan in even 15 minutes.

Early payment of all or part of the loan is possible if it was announced in writing (e.g. in a Millennium branch) not later than 3 days before the next payment date. The Bank shall post the early payment with the due and payable date of the next interest-principal instalment and the loan tenor will be automatically shortened.

No, Bank Millennium does not charge fees for filing loan applications.

A customer who is working abroad for a Polish company and makes settlements in Poland is covered by the full insurance package guaranteeing insurance cover i.a. in case of job loss.

Written consent of the spouse is required only when the loan amount exceeds 20 000 PLN.

Yes, you can get an Urgent Loan without having to open an account with Bank Millennium.

Yes, you can adjust instalment payments to your financial abilities. During the agreement you can change not only the payment period but also the payment day and number of service account.

If the insured Urgent Loan is selected, an insurance fee will be charged. The insurance fee is payable "up-front" and included in the loan amount. The insurance contribution is 0.3000% of the loan amount per month.

An Urgent Loan can be used for any purpose.
However in case of an Urgent Loan - consolidation, the loan proceeds are assigned for repayment of loans to other banks and must be used for this purpose.

If you have more than one product in our Bank, you will get one statement - the combined statement. It will contain information concerning all your accounts kept with Bank Millennium.

The Credit Information Bureau (BIK) can provide a free report every half-year on the balance of your liabilities.
Information in BIK is kept during the whole period of the agreement with the bank and, after expiry of the liability:

- during the period indicated in the authorisation granted by the customer (in case of customers who regularly fulfil their liabilities to the bank)

- for a period of not more than 5 years without the customer's consent (if the customer was delayed over 60 days with payment of the liability to the bank and 30 days have passed from notification by the bank with warning of intention to process data without his consent)

Additional information about BIK may be found at: www.bik.pl

The loan amount cannot be lower than 1000 PLN.

Here you can find information on commissions connected with Urgent Loan
fees and commissions

• Pay the loans in keeping with defined schedules,
• Pay water, phone or electricity bills punctually,
• Choose the most convenient form of loan and bill payment, e.g. setting up standing transfers from your account, which relieves you of the necessity to remember about payment dates (it does require providing sufficient funds on the account),
• Do not exceed the credit limit,
• Carefully plan all expenses.

Here you can find information about the interest rate on Urgent Loan
interest rate

The insurance covers 5 risks:

• Death of the insured
• Permanent and complete inability to earn income
• Grave illness
• Temporary inability to work
• Loss of permanent source of income

The loan is granted without collateral and sureties.

The loan is granted for the maximum period of 72 months.

The loan insurance contribution is charged "up-front" for the entire loan tenor and is added to the loan amount.

Urgent Loan instalments are fixed.

The Urgent Loan may be disbursed by transfer to the Borrower's account in any bank, or in cash.

Interest is accrued doe each day on the outstanding balance. The interest is payable together with monthly principal payments. The loan principal and interest is paid in equal instalments. Payment dates are specified in the loan agreement.

If an insured event has occurred you must deliver appropriate documents, described in Insurance Terms and Conditions and report the event:

·In a Bank Millennium branch
·By post (stating your contact phone number) to the address:

Bank Millennium S.A.
Operations Department
Retail Operations Sub-unit
ul. Stanisława Żaryna 2A
02-593 Warszawa

with the note: "Documents concerning an insured event report"

Download the Polish Bank Association guide