The loan for retirees is a credit solution that many resorts to finance small expenses or carry out projects kept in the drawer for many years which, thanks to retirement, is finally possible to implement. Obviously in Italy, there are several financial products dedicated to this category of consumers. If you are looking for the solution that best suits your needs, keeps reading, we have created this article to help you with your choice.
Loan for pensioners: the assignment of the fifth
The assignment of a fifth of the pension is a loan for pensioners very common in Italy. It is called the assignment of the fifth because the installment cannot exceed one-fifth of the net monthly pension. The other salient feature of this loan is the repayment method. It is not the customer who pays the installment every month, but the social security institution, generally INPS, which retains it and pays it to the bank or finance company that disbursed the loan. This is possible under a specific agreement stipulated upstream between the institutions that provide the credit and the INPS itself. This convention also guarantees the application of specific interest rates.
Other fundamental characteristics are the fixed rate and the constant installment. The pensioner who signs a transfer contract will be able to sleep peacefully knowing how much he will pay monthly until the end of the repayment plan. Furthermore, it is not necessary to present financial guarantees. In the evaluation phase of the application, on the other hand, past payment delays or any bank problems are not taken into account.
Finally, it should be remembered that the assignment of the fifth is a loan for pensioners which, by law, must always be accompanied by a life risk policy. In this way, any heirs are protected from the risk of insolvency associated with this eventuality.
All these features make the sale a very convenient great lakes student loan, which is why more and more pensioners are turning to financial institutions every day to request it.
Loan for retirees: the personal loan
The personal loan is another type of loan for retirees. Very often it is finalized, so it is necessary to indicate how the sum obtained will be used. Also in this case the rate is fixed and the installment constant. However, the reimbursement is borne by the person who stipulates the contract: remember to pay the fee every month. Delays or missed payments are to be avoided as they can lead to a report in the Crif or database.
Many banks, in the evaluation phase, also take into account the credit history of the applicant, so if there have been problems in past payments the request may be rejected.
In loans for retirees
Another type of loan for retirees is that of INPS loans. These are loans at a subsidized rate aimed at members of the Public Employee Management. They are managed by the “Autonomous Unitary Management of Credit and Social Services” Credit Fund. The subjects that provide these loans are INPS or banks and financial institutions with which the INPDAP has agreements.
They are divided into small Inpdap loans and multi-year Inpdap loans. The former provides for the disbursement of reduced amounts and short repayment plans, ranging from 1 to 4 years, the others provide for longer durations and are designed to cope with situations of particular need. To access the credit, it is necessary to be registered in the Unitary Management of credit and social services, or the Magistral Assistance Management (formerly Enam), or finally be a former employee of Poste Italiane. Those who are not registered cannot, therefore, access this type of loan for retirees.
If you are interested in more information, contact us, we at Dynamic are the specialists in the assignment of the fifth and we are always at your disposal.