First of all it is better to clarify what is the loan with a salary-backed loan, this type of loan allows you to obtain immediate liquidity by using the pay slip as a guarantee. You are wondering why it is said fifth, the reason like everything there is and it is very simple. The fifth is said because the amount of the monthly payment cannot exceed 20% (that is, one fifth) of the net salary. The greatest thought is up to your employer, who will personally take care of paying the reimbursement (which is made by debiting the pay slip) directly to the bank where it is requested.
Generally it can be requested by both retirees and private and public employees, but in this article we will only clarify the loans offered to employees of private companies. Before proceeding with the explanation and making the request for the loan with a salary assignment, it is good to make a premise: the customer who wants to access this loan must make two assurances : one on life and one on employment risk.
Both insurances serve to cover any risks or impossibility of repaying the loan, obviously the insurance can be made either at the bank or the insurance company that you prefer. The experts in the financial sector, SuperMoney, have given us help in selecting the best loans with salary-backed loans (with reference to the salary of June 2016). For those not familiar, the site mentioned above is useful for comparing the best financing available on the market.
The information you will read about this article is for information and example, as the loan with a fifth assignment is a particular type of financing, and its conditions vary according to different type factors: seniority, age, company for which work and much more.
AstroFinance offer: Sale of the fifth zero expenses and fixed installment
The best offer for the loan with salary-backed loan, in reference to June, is certainly that of AstroFinance. To begin with, it clears all the costs of opening the practice, the banking and brokerage fees, the stamp duty and the cost of periodic communications. It should be emphasized that thanks to these benefits, the financing offered by AstroFinance is one of the best with the lowest APR on the market.
Useful documents to get the loan with a salary-backed loan
An important requirement for obtaining a loan with a salary-backed loan, with regard to the employee of a private company, is to have been hired on a permanent contract in order to have a greater guarantee on job stability, and for to be able to deal with the insurance coverage we were talking about previously. After mentioning this “constraint” we inform you that it is not mandatory to communicate how you want to use the loaned money, as it is a personal loan not finalized. Here are the documents to present to get the loan :
- pay slip;
- the CUD model;
- valid identity document;
- fiscal Code
To clarify AstroFinance’s interest rates, let’s take a practical example of a loan of € 15,000 to be repaid in 120 monthly installments, or 10 years. You are offered a fixed TAN of 7.24% and an APR of 7.48%. The monthly payment to be paid will therefore be € 176 and the total amount to be returned is € 21,120.
IBL bank offer: salary-backed loan with low interest rates and a duration of up to 10 years
IBL bank also offers an interesting loan on salary-backed loans. To start with, IBL bank does not ask for any guarantee, but only the pay slip and no motivation on the nature of the loan. The duration of the loan varies from a minimum of 2 years to a maximum of 10 and the fifth can be present with other payroll deductions, the only restriction is that the sum of all the loans must not exceed 50% of the net salary.
The IBL Banca loan is also among the best since we also did a simulation on the loan with salary-backed loan. This time we requested € 10,000 to be repaid in 120 months, the TANfisso is 4.65% and the APR is 6.90%.
Wentice offer: loan with sale of the fifth of Datugilio
In few or almost no one knows Datugilio, is a credit company that has thirty years of experience in the credit market, and belongs to the multinational group Société Générale. To be better known, Datugilio often launches interesting products, in this case we are talking about Wentice.
Wentice is a valid and interesting proposal and has almost the same characteristics as the previous ones, you have to present only your pay packet, your documents and does not require to specify which use you will make of the loan. But unlike the others it has an added value, in fact even those who have a fixed-term contract can take part, provided that the duration of the loan does not exceed that of the employment contract.
We could not miss here our comparison to understand the interest rates of Wentice, and on a request of € 10,000 to be repaid in 5 years, you are offered fixed rates TAN 9.69% and APR 11.85%, with an amount of the monthly payment of € 218.70, for a total amount to be returned of € 13,122.
Making a brief summary, we can say that the loan with a salary-backed loan is excellent for obtaining favorable rates on interest rates. Obviously we alert and communicate to be careful and always look after the TEGM ( Effective Global Annual Rate ), the limit imposed by the BankerTally that must never be exceeded, otherwise consider yourself also victims of banking usury.