The personal loan landscape is rich in alternatives, each designed to respond to a specific need for funding. But how do you choose the best solution for yourself? Here’s some tips to find the right deal and to choose the most convenient loan for you.
Do you need liquidity for your holidays or do you need money to fund your studies? Do you want to do some work at home or do you need to do car maintenance and the savings are not enough? Did the dentist’s bill come in and do not you have enough money to hire her?
Cases where you may need a small amount of funding are so many that it would be impossible to list them all. Whatever the reason you need money is still a solution. With personal loans you get liquidity with ease and in a short time.
Personal Loans: What Are They?
Personal loans are grants granted to end-users to cover any kind of expense. Through this form of consumer credit you can get up to 80,000 euros without having to indicate for which type of purchase you have been asked for the money.
It may require a personal loan from any natural person, provided that the funding does not cover professional or business activity. The application must be made to a bank or a financial company, a physical or online branch.
Personal Loan Offering is highly articulated and includes, among others, financial products targeted at a particular type of customer or product accessible to everyone.
Among BNL loans, for example, there are loan solutions addressed to clients who are in a certain working condition and funding designed to support specific projects. Alongside standard personal loans there are personal loans for young students or for public employees. Customized financing is also offered to those who want to make interventions to improve the energy efficiency of their home or to do sports.
The BNL personal loan application can be made online or in a branch: in the first case the loan is offered at a fixed rate, while in the banks of the bank you can choose between fixed rate and floating rate financing.
Personal loans: to each one his own
As already mentioned, banks and financial companies include in their offerings many different personal loans targeted at different categories of customers. Depending on the characteristics of a petitioner or a possible repayment method, one can find:
- Loose Pay Loans: Designed for the bundle of customers who do not have an employee job;
loans with the sale of the fifth of the salary or pension: designed to offer a secure financing solution for employees and retirees who have in the past have difficulties in repaying loans or who can not provide adequate guarantees;
- payment delegation: reserved to employees. As in the case of a fifth-term loan, the employer is responsible for paying the installments, and in this case the total of the withholding can reach up to 40% of the net remuneration. For this reason it is also indicated as a loan with the sale of the double fifth of the salary;
- Loans for bad payers: tailor-made for customers reported at Risk Centers;
- loans for protesters: addressed to those who have been protesting a bill, a check or a money order;
- promised loans: also called fiduciary loans. In this case, the loan is repaid monthly by paying the bills of exchange to the creditor;
- Mortgage Loans: This is a special form of loan dedicated to homeowners who are over 60 years old. The loan is guaranteed by the inscription of a mortgage on the house and, following the
- death of the recipient, the heirs may decide to repay in one solution the financing or leave the property to the bank;
- loans to public employees: reserved to the INPS Public Management Entities and granted under advantageous economic conditions, through the agreements entered into with financial intermediaries.