Do you need to apply for a loan, but do not know how to offer guarantees to the bank? Do you want to apply for a loan, obtaining favorable rates without going crazy behind dozens of practices? Do you need a loan that is easy and fast too? You can request it by resorting to the sale of salary!
The salary-back assignment is a solid guarantee for obtaining a loan. To receive a loan from the bank with a salary transfer, you can offer your salary as a guarantee. Thanks to our guide today we will explain how to get a loan.
What is the fifth assignment?
The salary assignment is a particular type of personal bank loan reserved for employees and pensioners.
It is called a fifth assignment because the monthly installment cannot exceed a fifth in any way the fifth of the salary or pension. The installment is equal to one fifth of the net salary or is one fifth of the net pension.
To repay the monthly fee, the installment is deducted directly from the pay slip or the pension slip. The repayment of the installment will be managed directly by the employer or the pension institution.
Difference between personal loan and salary-backed loan
The personal loan and salary-backed loan are different in the repayment of monthly installments. The personal loan must be repaid by paying the installment by bulletin or by direct debit to the account.
With this salary formula, the installment will be repaid immediately to the bank and will be withheld from salary or pension. The employer or the pension institution will think about charging the amount each month.
Who can apply for this loan? Workers with permanent contracts who have their residency in Italy and are aged between 18 and 63 can apply for it.
Retirees can also apply for a loan with a salary-backed loan provided they do not reach the age of 85 at the time the loan is repaid and have a pension of more than € 501.89. Self-employed workers cannot apply for loans through salary assignments.
What documentation to bring?
Which documents should be provided to Ibl bank to request a loan with a salary-backed loan? Below is the complete list:
- Fiscal Code;
- Last paycheck or pension slip;
- Unique Certification for employees;
- Valid identity document.
Applying for a loan with the fifth assignment does not require having a guarantor. The guarantee is the salary itself or the pension. In many cases, the salary-backed loan allows for the approval of the loan even if it has previously been insolvent.
The sale of the fifth is an important and solid guarantee, but there is no certainty that the bank consents to the request for the loan, especially in the event that problems have occurred previously. The request procedure will be checked even if the fifth assignment is given as a guarantee.
The salary assignment allows for fixed-rate installments. You can choose the amount to be paid monthly and the time for repayment, at the time of the contract.
However, the installment must not exceed a fifth, or 20%, of the salary or pension, at the net value. With the transfer of the fifth, the monthly repayment of the amount is via a direct debit on your pay packet or pension.
The maximum duration for the repayment of the loan by a fifth assignment is up to a maximum of 10 years. The debt can be paid off in advance without incurring penalties and whenever it is possible.
How to apply for a loan with the sale of the fifth?
Ibl Banca allows you to apply for a loan with the assignment of the fifth in any of the branches. You need to make an appointment at the branch or by calling the bank or online on the official website.
Simply complete the form by entering your personal data and choosing the time and date of the appointment. Requesting an appointment does not bind you to the request for a loan with a fifth assignment.
Time to obtain the loan with a fifth assignment
If you have decided to apply for a loan in one, a person in charge will indicate the time for the loan with the salary transfer salary. Waiting times are not all the same and may vary from case to case.
When it is possible to make a loan request on the web, it is generally possible to open a file and to receive the loan in a couple of days or so. Getting money in just a few hours is only possible via the web request.
The salary assignment generally allows for lower interest rates compared to other types of loans. Interest rates for the fifth assignment are convenient, but we recommend checking the TAN e the APR to try to save.
The TAN is the interest rate, the APR is the synthetic total cost index of the loan in which the commissions to be paid for the loan practices.
The TAN and the APR associated with the loan and the contract conditions can also be chosen for the request for loans on the web. Doing an online search before applying for any loan, including those with the fifth assignment, can help you save money by not wasting it on interest.
Interest rates and installments can be known by making a quote that is not binding and is free. The estimate can be made online quickly by entering your data, repayment times and the amount requested on the official website. The quote from a hand to get an idea about the rates and monthly installments to be paid.
Both the interest and the installment may vary, even slightly, when the contract is signed. The value on the quote is only indicative.
Through an appointee, the bank will assess the case and decide how and whether to proceed with the practice. You can be sure of the installment to be repaid each month and the rates applied to the loan only once the contract is signed.