There are many customers who ask for the transfer of the fifth of the salary loan, how does it work? This is normal given that we are talking about one of the most popular credit access products. The reason for success is related to comfort. With the fifth assignment of the salary loan, governed by Presidential Decree 180/1950, the repayment takes place automatically.
The employee, who can be both public and private, transfers the fifth part of his net paycheck to the bank that provided the loan.
Information on the rate and beyond
We continue to talk about the transfer of the fifth of the salary loan as it works by specifying that this product is characterized by a fixed rate for the duration of the repayment plan. The above is below the anti-wear threshold.
The assignment of the fifth of the paycheck can also have a maximum duration of 120 months. The maximum amount obtainable, however, varies according to the policies of the credit institution.
Who pays out loans against assignment of one fifth of the salary loan
A fundamental element to consider in the context of the transfer of the fifth of the salary loan as it works concerns the realities that provide these loans. There are numerous. Among these it is possible to remember those affiliated with Social Institute, such as LBN. At this specific juncture, with the transfer of the fifth of the paycheck, it is possible to obtain up to $ 104,000. The amount in question can be repaid at a subsidized interest rate.
Interesting is also the proposal of Unicredit, which allows private employees to request up to $ 47,000 and publics up to 72,000. in this case the credit institution proposes a plan ranging from 24 to 120 months and a promotional TAN of 5.30% for those who sign the loan by the end of March 2017.
The assignment of the fifth of the paycheck is a personal loan
Those who ask for the transfer of the fifth of the salary loan, how it works, ask themselves whether or not it is necessary to justify the amount received. The answer is no. The loan against assignment of the fifth of the salary loan is personal. For this reason, the customer can freely dispose of the amount received.
Advantages of the loan against assignment of the fifth of the salary loan
What are the benefits of the fifth paycheck assignment? This question, very frequent among those who ask for the transfer of a fifth of the salary loan, how it works, must also be answered by remembering the accessibility of Crif members. The assignment of the fifth salary loan, but also that of the pension, is also available for bad payers and protests.
Indeed, the disbursement of the amount is not subordinate to the checks of the databases. It is also very important to remember the certainty of the installment over time and the possibility of requesting a renewal of the loan. This is only allowed in case of repayment of 40% of the installments. It is not possible if the initial loan lasts 60 months.