In this article we provide all the useful information about the small loan , updated to 2019. Let’s see how the tables for the calculation of the payment of our loan provided work . Finally all you need to know about the request for renewal and early repayment of the loan, to see any costs or penalties.
How the Small 2019 Loan works: main features
The small loan is one of the two forms of financing provided . That said it would seem a contradiction, and in fact it is in part like that. loans have been managed for many years , but are still identified with the name of the old institution to identify the type of loan we are talking about, given that the characteristics are actually the same as before. Obviously the main difference between the two options lies in the amount that we can request. The maximum amount that we can apply with the small loan is not fixed as usually happens with personal loans provided by banks. In this case, in fact, the sum of money that can be requested depends on the salary or pension received by the applicant. In particular, it is possible to receive from a minimum of one up to a maximum of eight months, depending on the duration we will choose for reimbursement.
As for the duration of the small loan , this part from a minimum of one year up to a maximum of four years. As specified on the regulation that we find on the website , every year we can choose to repay a monthly payment or two months, based on the total amount we need and the monthly payment we intend to pay. So choosing the maximum duration, combined with the option of double monthly payments , we arrive at the maximum sum to which we can have access. Not all customers can request the maximum amount just described, because we must consider some additional constraint that is decisive in this regard. The agreed repayment installments must not exceed 20% of the net monthly receipt received from the customer. Furthermore, it should be specified that the double-monthly loan application is reserved exclusively for those who do not have any other deductions in progress from their salary or pension. Otherwise, the amount to which the customer will have access will go from a minimum of one month’s salary, with the annual loan, up to a maximum of four months, with the four-year loan.
Small loans can therefore be considered loans through the transfer of the fifth . There are several advantages of this form of loan. First of all, as we have already said, the monthly repayment installment never exceeds one fifth of the salary or net pension received, and therefore does not constitute an excessively high economic commitment. In addition, the amount we will pay each month will be deducted directly from the paycheck , and therefore we will not have to worry about making the payment each month before the specified expiration date. In general, small loans represent an excellent opportunity , which is usually advantageous compared to personal loans offered by banks. In the next paragraphs we will see to whom these particular loans are addressed.
To whom the Small Loans are addressed: necessary requirements
If you are looking for a small loan, then the most convenient solution is the one offered . When choosing the ideal financing, however, it is not enough to see the economic characteristics offered, because a fundamental aspect to consider is that of the required requisites , to see to whom these loans are addressed. As you probably already clear from the preceding paragraphs, to be able to apply for small loans are employees and retirees. Therefore, self-employed workers such as freelancers are excluded from the list of customers who can benefit from this treatment, who obviously can not obtain a loan by assignment of the fifth, since they do not have a paycheck. In particular, small loans are aimed at employees and public sector pensioners.
Among the requisites required there is not to have a permanent contract. Employees on fixed-term contracts can also apply for the small loan. The only constraint that is specified on the regulation is that for which the maximum number of years that can be chosen for the duration must not exceed the number of years missing when the contract expires. The treatment received will therefore be the same as employees with permanent contracts. That of small loans offered is a great opportunity for bad payers , those who in the past have had problems in returning some funding received.