Let’s see together how they work and how to apply for small, fast personal loans for employees , pensioners and people without payroll.
The small loan , as can also be understood from the name, is a loan that provides access to a small credit.
In fact, we are talking about sums ranging from one thousand euros up to five thousand euros, even if in some special cases they can even reach much larger sums. Obviously, the duration of the amortization plan that goes from 12 months up to 36 months is also less, while the repayment schedule remains monthly.
Small loans fall into the category of non-finalized loans and also provide for an interest rate which, due to the minimum contract term, can only be fixed at a nominal annual rate (Tan) normally below 7% and a total annual percentage rate that in the worst cases it reaches 9.50%. Even in the case of the small loan, it is necessary to provide the Bank or the agency that provides it with certain guarantees that in the case of the employee are represented by the paycheck, the self-employed person from the tax return and the pensioner’s by the document that certifies the right to retirement. If you do not fall into these categories it is advisable to find an acquaintance who can act as guarantor and take charge of any installments that the applicant is unable to pay. This type of financial product also includes ancillary costs. In particular, you have to pay: € 14 and 62 cents a year for stamp duty, € 1 per year for sending the statement, € 1 for closing the transaction and € 1 and 81 cents per installment if the its amount is more than 77 euros and 47 cents.
Finally, many small loans are rather flexible offering the possibility to the contractor to be able to skip the installment at a time of particular difficulty and to be able to pay off the debt without having to pay any penalty.
This type of financial product is required by those in urgent need of money. The loans are disbursed according to the company’s annual financial statements.
Only the employees or pensioners previously registered for the unitary management of credit and social services can apply for this product. As for the repayment of the loan, we start with a minimum of 12 installments, up to a maximum of 48.
HOW TO ASK FOR A SMALL LOAN?
Just go to the provincial or regional office of (ex-inpdap) and fill in the appropriate form. The institute does not want to know the motivation for which you are requesting credit, nor does it want documentation of expenses.
Now let’s see the 4 types of refunds:
- Annual Loan:
It is possible to request a net salary or pension payment. The return must take place within 12 months. If the applicant does not have other loans assignment of the fifth in progress, it can take up to two months;
- Biennial :
In this the maximum sum that can be requested, is equivalent to two months salary or pension to be repaid within 24 months (2 years). If the person requesting it has no other funding in progress, it may also take four months;
- Triennial :
Thanks to this product you can request 3 months to be returned within 36 monthly installments (3 years). Also in this case, if the requesting person does not have other loans in progress, he can double the monthly payments to 6;
- Quadrennial :
With the four-year product, you can request 4 monthly payments to be repaid in 48 months (4 years), doubled to 8 if the applicant has no other open funding.
INTEREST RATE FOR SMALL LOANS
The interest rate applied to the amounts requested is 4.25% + 0.50% for administrative expenses.
As far as the payment of money is concerned, it can be done either in cash at the inpdap bank cashier, or through a credit to the applicant’s postal or bank account.
If the applicant already has other funding in progress, as regards the small annual inpdap loan, he will not be able to request more than one monthly salary not more than two months, for three years only three months and for four years only four months.
If the applicant wishes to renew the loan, he can do so only after the minimum amortization period:
- Annual: 6 months;
- Biennial: 12 months;
- Triennial: 18 months;
- Quadrennial: 24 months.
If the requesting person fails, or a disability occurs in the workplace, the debt recovery does not precede, then the practice is closed, even if the monthly repayment installments are still missing.
If the applicant changes job, then passes to the employee of another Administration, the office will communicate all the data of the practice to continue withholding the monthly payment on the salary or pension.
The crisis has obviously contracted the request and the provision of small loans: According to data emerged from a research carried out by an agency operating in the financial sector, over the last two years the demand for financial products has dropped significantly. The reasons that led to this situation are certainly different, but certainly there is no doubt that has influenced and not just the crisis of public debt. A crisis different from that of 2008 and that precisely takes its cue from the Italian and European financial system rather than the economic one. Indeed, in some ways we can say that the Italian production system and therefore our local economy has been influenced in a rather important way by the unsustainability of the financing of the public debt.
In other words, the spread widening and that is the differential between Italian government bonds (Btp) and the corresponding German ones (Bund) arrived in November 2011 at 570 basis points for an interest rate well above 7 % which represents a bit of criticality. For this reason Italy has been forced, and still is in part, to refinance its debt by paying over such high interest that it is not sustainable in the medium and long term.
This in turn has led to a lack of liquidity in credit institutions or rather a certain lack of propensity on the part of the latter in granting a loan, a mortgage or anything else to people in difficulty if not behind such important guarantees to difficult to find in reality. So, it is a bit for the resignation on the part of citizens in believing it is impossible to access credit and a bit for a really large amount of waste by institutions, it has created a counterproductive situation for which companies in difficulty become even more and the citizens have demanded loans and loans for the realization of their dreams and desires at better times.
However, if we analyze more in detail the aforementioned research we understand how to have had a strong contraction were the large financial products such as mortgages for the purchase or construction of the house and loans over 20 thousand euros perhaps for the purchase of a luxury car and so on.
On the other hand , requests for loans and small-scale loans have increased, which may help citizens to manage to get ahead in particularly difficult times in which, if anything, there are different deadlines impossible to meet only with the support of their income. One of these products that is showing a growing demand is undoubtedly the small loan .