The beginning of the year is the time when banks encourage to take cash loans on very simplified terms. All you need to do is print the annual tax return, the so-called Mana, to borrow money in no time without additional formalities. In reality, however, there are some restrictions, and the tax declaration is not a pass for everyone.
Banks organize various types of special offers. They offer holiday and holiday loans for the purchase of a car seat as well as “Mana loans”. They argue that these are extremely advantageous offers characterized by low interest rates, minimal formalities and the possibility to start repaying debt only after some time. The truth is, however, that these “special” offers often differ from the standard ones.
Many people are still under the magic of beautiful packaging.
It would seem that the offer to obtain a loan based on the presentation of the annual Mana tax declaration will be attractive and available to everyone. After all, the source and amount of taxpayer’s income are indicated in the said document. Therefore, the bank should not require additional documents to verify creditworthiness, and this should have a beneficial effect on the time taken to process the application. With a Mana declaration, the credit analyst is in principle able to check the applicant’s history in the records of the Credit Information Bureau .
Contrary to appearances and assurances, banks are not so enthusiastic about the data contained in Mana forms. It turns out that some of the printed forms are “better”, eg Mana 11 provided by the employer, or Mana-40A prepared by the Social Insurance Institution for pensioners, or Mana 36 submitted by those who have only one source of income , and others “worse”. The latter category includes documents submitted by entrepreneurs who in principle can not receive a loan by showing Mana.
Another limitation concerns the amount of the loan taken and the loan period.
In general, they are identical to the “normal” cash loans, but there are exceptions. In 2017, BOŚ Bank, Raiffeisen Polbank and Millenium Bank offered clients who document their income using Mana print the maximum loan amounts significantly lower than those who showed certificates of income earned. Additionally, some banks shorten the maximum repayment time of the liability granted only on the basis of Mana print.
What’s more, in 2017, Mana was not always enough to apply for a loan. BOŚ Bank also required the delivery of an account statement from the last three months, and BGŻ BNP Paribas, a certificate from the employer about employment.
The loan offer “for Mana” is limited in time. Many banks allow such a way to document their income only until April 30, which is the date on which the deadline for submitting the annual tax return expires. However, there are also those who honor Manas until the end of May or even until the end of June. The offer of this type should be expected at the turn of February and March, that is, when the deadline for providing employees by employers with information about the income earned in the past year will pass.
Most of the banks’ credit offers refer to the situations described above, i.e. to grant a loan based on information about the income included in the annual Mana tax return. However, you can also meet with offers for those who have a tax to pay the tax and need funds to comply with this obligation . Years ago, the banks prepared special offers for “this loan for Mana” for this group of customers. They have recently given up on this.
Thus, a person who needs money to pay tax may apply for funds under a standard credit procedure or as part of the “Mana loan” offer. Of course, each application is considered individually and the credit terms result from the situation of a particular borrower, his ability and creditworthiness.
Act in advance
Knowing that we will pay tax to the tax office, it is better not to delay the search for the necessary amount until the last moment. It is better to start looking for an attractive loan earlier, to calmly choose the best offer, make a transfer to the account of the tax office and thus spare additional problems related to providing explanations on the reason for delay or the need to pay penalties for failure to meet the deadline.