Loans: Requirements and Applicable Interest Rates

Do you need a loan and you don’t know how to do it? Do you want to know which are the various options available to the bank and which are the most advantageous?

With this guide of ours, how to get a loan we will see what are the different steps to follow and we will also give you some useful tips. Here’s what you need to do to get the perfect loan for you!

How to get a loan

loan

In some cases you may find yourself in need of a loan to renovate your home, take a vacation or solve some small problems. Allows you to choose the best loan option for your needs.

With Fineco you can get a loan quickly thanks to the online request form, you can also find information through the Bank App.

With a simple click you can learn all the details of the loan, choose the most suitable and even get it in about 48 hours. In just two days you can open the file and even get the money you need on your account.

With it is also possible to calculate the installment, in this case it is sufficient to make an estimate. The quote can be requested online with a quick and easy method. By entering your data, the amount you want to request and the number of repayment installments you can get an idea about interest rates and the monthly payment.

Just fill out the form on the site. The quote is free, it is not binding on the loan request and can help clear up any doubts. The online quote helps to get an idea about the duration of the installments and the expenditure to be incurred for the financing.

Just remember that the more the repayment months increase, the slower the installment is. However, a low installment and a long repayment time lead to an increase in interest.

We therefore advise you to calmly assess the duration of the payment and the amount to be requested, all this so as not to waste money on interest. To find out what are the characteristics of a loan with Fineco, we recommend asking for an appointment with a representative.

Fineco allows you to request a standard rate personal loan with a 6.95% fixed TAN and a maximum 7.53% APR. The duration ranges from 12 to 48 months up to 4,000 euros, from 12 to 72 months up to 10,000 euros and from 12 to 84 months up to 50,000 euros. For loans with a duration of more than 18 months, the bank provides for a substitute tax of 0.25% of the amount.

To apply for a loan, you must be a current account holder for at least 3 months, have a balance greater than -500 euros, have your salary or pension credited, be aged between 18 and 70 and reside in Italy.

The necessary guarantees

Whatever loan you choose and whatever the bank there are mandatory guarantees to provide. These guarantees are mandatory even for those on the bad payer list or for those who have been protested. The guarantees to request a loan with Fineco are:

  • The pay slip : which often allows to obtain advantageous rates and to have the loan in a short time;
  • The salary assignment : which generally allows even those who have been protested or is on the bad payer list to obtain the loan, the sum to be repaid monthly to the bank will be withheld from salary or pension. The salary assignment often makes it possible to obtain advantageous rates and repayment plans up to 10 years;
  • The guarantee of a third party : it must be able to act as a guarantee. The guarantor can be a friend or a parent or a relative. He can become the loan manager instead of the applicant;
  • The pension : a solid guarantee, but the duration and the number of installments to be reimbursed can change depending on the age of the applicant;

What do you need to get the money?

What do you need to get the money?

To obtain the loan it is necessary to provide the bank with:

  • The valid identity document;
  • The pay slip, the pension slip or the last tax return (valid only for self-employed workers).

Those who have been protested and those who are on the list of bad payers must provide the same documents. There is no need to bring with other documents, the rest will be taken by the bank to which the loan is requested.

Times to get the loan 

Times to get the loan 

If the loan application is made online, you can safely have the money in 48 hours from the opening of the file.

The more complex it is to apply for a loan directly at the branch, is a bank that is almost totally online, so to talk to a borrower, you will necessarily have to make an appointment.

The person in charge will indicate the time to wait for the loan requested on his account. We remind you that every case is different and that waiting times or interests may vary from the estimate.

Interest for the loan

Interest for the loan

To find out the interest rate you will be paying with the loan, you can make an online quote. The quote is not binding and is totally free. It allows you to know the TAN and the APR or the interest rate and the synthetic total cost of the loan.

The APR is the cost of the commissions to be paid for the request for a loan. Check the TAN and the APR before choosing the loan, it helps to save money that would otherwise be in interest.

Doing a little research and not choosing a loan at random helps you choose the most convenient rates for you. Saving on interest is a good way to be able to settle the method in less time.

The loan for the protested parties

Obviously, we cannot guarantee that Fineco bank easily agrees to provide a loan if you have been protested or if you are on the list of bad payers.

The only way to know if Fineco gives you the opportunity to get the loan is to talk to a representative to get detailed information. The person in charge will accurately assess the situation and decide whether to approve the loan or to refuse the request.

Generally, the best guarantee that can be given in these cases is the assignment of one-fifth of the salary. In case you are on the list of bad payers or if you have been protested this is the most solid guarantee you can give to get the loan.

Often thanks to the sale of the fifth (if you can get the loan) you can even get plans to repay the amount up to 10 years and lower interest rates.

Loans for temporary workers

Loans for temporary workers

Also thinks about temporary workers. To obtain a loan in this case, however, you must give the bank some additional guarantees.

To have a loan if you are a temporary worker, you will need to prove that the number of installments cannot exceed the months of work you have under contract. The other conditions to be met for having a loan with Fineco are the same as for permanent workers.