• BIK

    In the Credit Information Bureau (BIK) each user of the bank or SKOK credit products, in keeping with the Act on protection of personal data, may receive once every half-year a report on the balance of his liabilities.

    BIK Customer Service Bureau
    Adgar Plaza
    ul. Postępu 17 A
    02-676 Warszawa
    phone: (22) 310 44 44 or (22) 348 44 44
    e-mail address:


  • Tax returns

    Documents, which the Borrower is required to fill-in and deliver to the competent Tax Office if the need arises to pay tax on Civil Law actions. Proof of filing the return is a copy of the return with a Tax Office stamp.

  • Loans

    Money, which the bank or authorised lending institution makes available. The loan agreement contains the period, in which the Borrower should return the money and specifies the purpose, for which the money will be used.

  • Consumer loan

    A loan, which may be used for any purpose, e.g. paying for education, purchase of a car, furniture, household appliances, organising a party, holiday trip etc.

  • Borrower

    Person who is taking the loan.

  • Lender

    An institution, which is granting the loan.

  • Nominal interest rate

    Interest rate stated per annum, accrued on the amount of the granted loan.

  • Actual interest rate

    Interest rate, which takes into account due interest, all fees and commissions connected with the loan as well as change of value of money over time.

  • Surety

    Person, responsible together with the Borrower for repayment of the loan. If the Borrower does not repay or will not repay the loan, the Bank shall have the right to claim repayment of the loan first of all from the Surety.

  • General loan

    Money lent to the Borrower for an unspecified purpose. A general loan may be granted by a bank, a financial institution or a private person.

  • Fixed interest rate

    Annual percentage rate decided at the signing of the loan agreement, which does not change during the entire loan tenor.

  • Loan agreement

    Loan agreement, which contains all and any terms and conditions of granting the loan, i.a. repayment period, interest rate rules, amount of monthly payment, collateral, Borrower's rights and obligations.

  • Consumer Credit Act

    Act of 20 July 2001, which defines the rights and obligations of the Bank and the Consumer, as well as content of the agreement (together with the need to state the costs of the loan as well as actual annual percentage rate).

  • Variable interest rate

    Annual percentage rate, which may change during the loan repayment period. The variable interest rate may be based on a market interest rate (e.g. WIBOR).

  • Financial liability

    Regular financial liability to persons or institutions, e.g. alimonies, loan payments, payments of instalments for major purchases etc.