Day: December 30, 2019

Loans for Unemployed: How to Get It Fast?

People without a fixed and stable job hardly manage to obtain a loan from banks and financial institutions, since the latter are not willing to take the risk of not being paid back the money they lent.

However, some companies provide loans for unemployed, requesting alternative guarantees to the paycheck.

Loans for unemployed: how to get money?

Loans for unemployed: how to get money?

Banks, especially in this phase of economic and financial precariousness, hardly grant sums of money to customers who are unable to offer guarantees, such as a paycheck for example.

However, there are different guarantees that are still accepted by some banks, such as:

  • the presence of a guarantor, i.e. a person who takes responsibility for repaying the money requested in the event that the debtor is unable to do so;
  • mortgaging one’s home, with the risk that, if the money were not repaid, the bank could sell the debtor’s house;
  • guarantees derived from annuities, such as renting a property or maintenance check.

Which banks are providing loans for unemployed people?

The companies that provide financing also to the unemployed are different, however it is always preferable to evaluate the characteristics and options available on the market, in order to be able to identify the most valid offer.

In addition to the monthly payment, the TAG and the APR will also be indicated. Thanks to these data it will be possible to evaluate the best proposals.

The alternative to banks: promoted loans and social lending

The alternative to banks: promoted loans and social lending

To obtain loans for the unemployed, it is not necessary to turn to a bank, in fact there are alternative solutions, namely the loans and the social lending, or the loan between individuals.

The loan changed

It is a type of financing that can be requested from both a bank and a private individual. A certain sum is granted behind the release of a number of bills equal to the number of installments with which the repayment of the loaned capital is divided, which include an interest share and a capital share.

Interest can be freely negotiated, but on condition that it remains below the usury rate threshold. The debtor must pay the promissory note, within the due dates, and after which it requests an excerpt, and proceeds to the due date or until the principal is fully repaid.

In light of the formula used, if the loan were to be repaid in advance, the lender can demand payment of the sum of the bills that have not yet expired, or grant the facility to discount part of the interest that has not yet accrued.

Social lending or private loan

Loans between individuals work in this way: those who want to get a loan propose a project in an online marketplace. Only after the brokerage firm has established a rating on the basis of which the interest rate is set, are the private lenders deciding whether to support that project and for what percentage.

This is a formula that gives jobless people the chance to get capital. To access the loan between individuals, simply contact the online sites that operate with regular authorization from the Best Bank.

{ Add a Comment }

Salary loan: who can request it?

Today we talk about the salary loan, making clear this kind of financing, in order to avoid that the same can be somehow confused with other types of loans.

The salary loan is a type of financing that works in a totally different way from the others. The withdrawal, in fact, takes place directly on the paycheck of the applicant, who must fall into a specific category of workers. Not everyone can access this particular loan.
Furthermore, it is important to stress that the amount of the installments is always equal to one fifth of the salary received by the same applicant.

Who can request the salary loan

Who can request the salary loan

There are several figures who can access this type of financing, which also allows bad payers to be able to get the sum of money requested.
Let’s see specifically who are the people who can take advantage of this type of loan.

Public and state employees

The first category of subjects that will be able to apply for this type of financing is public and state employees. In both cases, we are talking about people who have been hired and who are, as the name suggests, employees of that company, regardless of the role assumed within it.
The upper limit of the request for money is equal to the calculation that is made taking into account length of service and severance pay.
This means that the higher the TFR, the higher the amount of money that can be requested.
Generally the loan with salary loan, for these two figures, can last up to ten years.

Parapublic employees

Parapublic employees

These are those employees who work for an enterprise whose ownership is 50% of the state or local public bodies.
In this case the salary loan cannot be requested when the employee approaches the retirement age. At the same time it is important to underline how for large amounts that employee must have been hired by the company for at least 5 years.

Private employees

Private employees

This category can also request the loan with the salary loan and in this case, the maximum amount of money that can be requested is the result of the product between the amount of the TFR and the reliability value of the company.
So those who are recently hired in a business may not get the money they need to meet their needs.

Pensioners

Pensioners

As for pensioners, no special guarantees are needed. The funding must however end with the applicant’s 86th birthday, who must have held a role as a public, private or state employee during his career.

Affiliated doctors

Affiliated doctors

Finally, doctors in agreement with the National Health System can also apply for this funding.
In this case it is necessary to underline how the calculation made is identical to that of state employees and the financing must be completed at the age of 66.

This loan is convenient because it is easy to get and at the same point it is guaranteed for the banking institutions that grant it, given that the withdrawal takes place directly on the applicant’s paycheck.

{ Add a Comment }