Frequently Asked Questions

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For claimants
For investors
What do I need in order to get a loan?

Opening an account and requesting a loan is possible only if you are a citizen of the Czech Republic or have a permanent residence in the Czech Republic and are over 18 years of age. It is also necessary to have a bank account, so the loaned finances can be transferred to you. Uploading a document is required in order to verify your identity. You will have to upload a photo of your identity card or your residence permit from both sides into your account. You will also have to upload an income receipt, tax return or a pension receipt, depending on the type of loan you apply for.

How much money can I borrow?

The range is from 5.000, - CZK up to 2.000.000, - CZK. It is only up to you what collateral are you willing to provide or how willing are you to prove your income. Above all, it is up to the investor whether they will be willing to lend to you or not.

What interest rate will I get?

The interest rate ranges from 5 % p.a. in the case of the least risky loans, up to 60 % p.a. for the riskiest ones. If you provide a property as collateral and prove your income, you can borrow from with an interest rate starting at 5% p.a. If you do not want or cannot prove your income, the interest rate should reflect the risk and will start at 31% p.a.

Is the loan for a specific purpose?

You can describe the reason why you want to borrow in the application. It may be important for the investor to know the purpose of the loan. However, this box is optional, and you do not have to tell anyone what you want to borrow.

Can I get a loan even if I have a criminal record?

In the case of an active record in the Central Register of Distraint (CEE) or insolvency register, this is not possible.

How do I sign the loan agreement?

After finding and investor, your application will be matched with the investor's offer. After this match, you will enter a unique code that you have received in your e-mail into the "Accepted loans" page of your client section. This code is used to sign the contract. You can find the concluded contract in your client zone.

How do I get the loaned finances?

After the contract is concluded, the investor will send you the loaned amount onto our bank account and we will then forward you the agreed amount into your bank account which you have entered in your client zone.

How will I repay the loan?

The best way to do this it to set up a standing order. The bank account number can be found in the loan contract. The installments are monthly, and you can find the exact day of their maturity in the contract.

Can I repay the loan early?

Yes, anytime and without any charges. Just let us know via e-mail that you are interested in repaying the loan early. The remaining amount will be calculated at the earliest possible date for your installment.

What happens if I will not be able to repay the loan?

First of all, please let us know. We will try to find a solution, for example by postponing installments or extending the maturity of the loan. It all depends on the investor's consent.

How does investing work?

The applicant will enter their request, which you can see right on the home page. If you evaluate that this investment is attractive to you and you want to profit from the interest rate, just register and then accept the offer in your client zone.

What loans can I invest in?

JBank offers borrowers and investors 6 types of loans with various requirements and collateral:

       1. Real estate collateral and proof of receipt

       2. Real estate collateral and without proof of income

       3. With the proof of income of the applicant and the guarantor

       4. With the proof of income of the applicant

       5. Without proof of the applicant's and guarantor's income

       6. Without proof of income and without an applicant

Who can ask for loans?

Most often, those interested in financing are people who already have a loan elsewhere and do not pass the strict scoring of banks or want to refinance their loans. Also, there are people who already have an entry in registers and therefore no bank is willing to lend them.

What is the average annual return on loans?

The interest rate ranges from 5% p.a. for the least risky loans up to 60% p. a. for the riskiest. It depends on your investment strategy and how you divide your portfolio. Whether you are more conservative and are investing in more secure loans or you take the risk with the possibility of a much more attractive appreciation of your money.

How do you build an investment portfolio?

It is up to you how willing you are to bear the risks. If you prefer lower risks, loans that have real estate as a collateral are more suitable for you. However, these loans offer a lower return on your investment. Conversely, loans without proof of income may yield more interesting returns, but at the cost of irregular repayments or even repayment recovery of the loan through courts.

What is the risk of investing in loans?

The greatest risk is the default of the loan. However, the risk is offset by an interesting interest rate for investors, as well as court and execution enforcement, where there is usually a very significant chance of recovering the investment, including recovery costs and related interest.

What will happen if the loan is not repaid?

When concluding a cooperation agreement with P2P Investments s.r.o., we recommend that you grant a power of attorney to a company which, in the event of a loan default, takes care of the recovery of the default loan with the assistance of a lawyer.

How does debt recovery work?

First, a lawyer sends the sol-called pre-litigation appeal to the debtor. In this call for action, the borrower has 10 days to repay the loan. If the borrower does not repay the loan in the given time, the lawyer shall apply for an arbitration award or electronic order for payment. Upon payment of the court or arbitration fee, the competent court shall issue an electronic payment order or arbitrator award and deliver it to the debtor. If the debtor does not repay the defendant debt, the case is handed over for execution.

What are the debt recovery costs?

Under the Cooperation Agreement, the cost of recovering the default is borne by P2P Investments s.r.o. That fee is set at 5% of the amount claimed. This fee is then requested by the court or arbitrator from the debtor, so that, in the event of a successful recovery, it is returned to the investor.

What if the debtor ends up in insolvency?

P2P Investments s.r.o. or an attorney will file an application for the outstanding loan amount for insolvency based on a power of attorney. Under the Cooperation Agreement, P2P Investments s.r.o. will monitor the insolvency register in the event of insolvency of the debtor to whom you have provided funding.

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