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
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.
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.
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.
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.
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.