We discover Payday loans for private employees. All you need to know about these financing options that allow customers to have access to the desired credit at extremely advantageous terms. We will analyze all the best facilities for those who are employees of private companies, with the expected economic treatment.
Payday loans for Private Employees: requirements and who to contact for the best benefits
If you are looking for a personal loan, if you are a private employee then you will be pleased to know that you will have access to subsidized loans. It is not news that the category of employees is particularly well liked by banks and financial institutions because they are customers who can offer excellent guarantees, which minimizes the risk of insolvency. In this article we deal in particular with Social Institute personal loans, which are probably the ideal solution for employees and pensioners residing in Italy. This type of financing is in fact characterized by extremely advantageous economic conditions, with an advantage also from the point of view of the required requisites. It is not necessary to present any real guarantee such as the ownership of a building, just as it is not necessary to present a guarantor. The only guarantee that is required to access Payday loans for private employees is the last paycheck.
The paycheck is the best guarantee ever, as it is a constant and insured entry every month. This is the difference between employees and self-employed workers. In particular we want to analyze subsidized loans for private employees. In this sense, we must consider the difference between this category of customers and that of public employees. The latter category is in fact more protected as public companies can guarantee greater guarantees to the bank or financial institution that provides the loan. For this reason, on the Social Institute website, we are describing loans reserved exclusively for public sector employees. In particular, the products are aimed at workers enrolled in Public Management and Magisterial Management. In any case, this does not mean that Social Institute subsidized loans are not also aimed at employees of private companies, albeit with some restrictions.
Payday loans for private employees are directed exclusively to employees of the Italian Post Office and all related companies. Although many think that it is a public company, in reality since 1998 it is in effect a Spa and therefore no longer a public body as it was in the past. For this reason, the Payday loans reserved for members of the Poste Funds Management are in effect the personal loans for private employees. Before analyzing in detail the characteristics of the financing options reserved for employees of these private companies, it is worth pointing out that Social Institute deals exclusively with the management of these products. To obtain the desired financing, it will not be necessary to contact the National Institute of Social Security, as it is not a credit institution. Whom to contact, therefore, to obtain the best loan facilities offered by Social Institute? On the Social Institute website it is possible to consult the complete list of the banks and financial institutions. These include, for example, Agos Ducato, BNL, Compass, Deutsche Bank, Fineco, Intesa Sanpaolo, Santander, Unicredit and many others.
Small Social Institute Loan for Private Employees: repayment installments and interest rates
The first type of subsidized loan offered by Social Institute and aimed at private employees is the small loan. This type of financing can be very useful in several cases, and it is no coincidence that it is undoubtedly one of the most sought-after personal loan options. So let’s see the main features of this product, which as mentioned above is addressed exclusively to employees of the Italian Post Offices and associated companies. Among the requirements that are reported on the Social Institute website page related to this specific product, it is underlined that in order to have access to the desired credit it is necessary that the customer has gained 2 years of service seniority. It is also good to specify the fact that, since it is a personal loan in all respects, it is not necessary to state any reasons to be able to present the request for funding. So let’s see what are the main features of the small Social Institute loan for private employees.
First of all, the type of financing envisaged with this Social Institute loan is that of the sale of the fifth. This loan option is the most quoted one when it is aimed at employees. There are several advantages of this type of loan, characterized by repayment installments that do not exceed the fifth of the net salary received. This means that in any case the monthly installments will be rather light, which allows you to complete the repayment without problems. The amount that can be requested through the small Social Institute loan for private employees does not have a fixed maximum threshold. The maximum amount of money to which you can have access depends on the salary received by the applicant and the duration chosen for the loan. In particular, the small Social Institute loan can have a duration of 12 months, 24 months, 36 months or 48 months. In any case, the Taeg interest rate is fixed at 5.00%, therefore very low compared to the competition: this is the reason why Payday loans represent the best benefits for private employees.
Based on the duration chosen for the small loan, the maximum amount that can be requested is therefore defined. In particular, for each year of the repayment plan, a net monthly salary or two net monthly salary payments may be required. This means that with the small Social Institute loan you can receive an amount ranging from one month to a maximum of eight months salary net. Funding costs include administrative expenses and expense for the Risk Fund, which depends on the age of the client and the duration chosen. These items of expenditure are shown in the applied interest rate Taeg, which will be defined at the time of the request and will remain constant for the entire duration of the loan. Once you receive a small loan for private employees you can also request renewal, under the same conditions as the previous loan. In particular for annual loans it is possible to request renewal after 5 months, for a two-year loan after 10 months, for a three-year loan after 15 months and finally for a four-year loan only after 20 months.
Multi-year Loan Social Institute Private Employees: amount that can be requested and duration of the loan
If you are interested in receiving a fairly high sum of money, then among the best benefits in circulation there is certainly the multi-year Social Institute loan for private employees. The general characteristics of the loan are very similar to those of the small loan that we analyzed in the previous paragraphs. Also in this case it is in fact a transfer of the fifth, so that the repayment installments that can be set will depend on the salary received by the private employee making the request. Once the monthly payment has been set, in order to know the maximum amount to which it is possible to access, it is necessary to choose the duration of the loan. The multi-year loan Social Institute provides two different options: the five-year loan and the ten-year loan. From here it is easy to understand why this product is aimed in particular at customers interested in receiving an important sum of money, while taking advantage of the possibility of setting rather low repayment installments.
Unlike the small Social Institute loan, the multi-year loan can only be requested by specifying the reason why you need the amount of money you want to receive. In particular, the allowed reasons are defined, among which we find the purchase of land or a house, the renovation of the house, the purchase of ecological motor vehicles, medical expenses, organization of ceremonies and more. Among the requisites required is that of having matured 4 years of seniority in role-playing. Regarding the maximum amount that can be requested, this obviously also depends in this case on the net salary received. In particular, to know the amount of money we can receive, it is necessary to multiply the maximum payment, equal to one fifth of the salary, by the number of months of the repayment plan, equal to 60 or 120. The result of this operation will be the amount that we can repay, gross of interest and related costs.
With regard to the interest rates applied to multi-year Payday loans for private employees, in this case too the Taeg is fixed, and will be equal to 3.50%. Also in this case it is useful to know that it is possible to request the renewal of the loan. The five-year loan can be renewed with another five-year loan only once 2 years have elapsed since the loan was granted. If after receiving a five-year loan you are interested in receiving a ten-year Social Institute loan, you can request renewal even without waiting for 2 years. As for ten-year loans, these can only be renewed with another 10-year loan, after 4 years from the start of the amortization plan. Finally, it is always possible to renew with a small loan, with the constraint that for each year of depreciation it is possible to request only one net salary month.