Among the categories of customers to whom small loans are addressed, there is that of retirees , who often find themselves in the position of having to apply for a loan. Let’s find out in detail everything you need to know about this form of loan: what are the requirements to have access to it, how to request a free quote with calculation of the repayment installment and how to make the request for the small loan you want.
A topic that has been topical for some time in Italy is that relating to the economic conditions of our pensioners. The income received by Italian elders is often too low, and many people struggle to make ends meet. For this reason, small loans are born, designed precisely for those retirees who need a small amount of money to cope with an unexpected expense.
Small loans for retirees: what are the requirements?
If the situation of pensions in Italy remains a significant problem, at least as far as loans are concerned, pensioners can consider themselves lucky with regards to the treatment that is reserved for them. The main problem of people looking for a loan, even if for a small amount, is always the one relating to the requirements that we must meet in order to have access to the credit we need. Often the guarantees required by the various banks are too restrictive, therefore many have to give up the desired loan, or have to accept a worse treatment if compared with that provided for classic loans.
Why are pensioners protected in this sense? The reason is very simple: the pension that is paid every month by Social institute constitutes an insured income for the customer, therefore the bank will have no problems in granting the desired loan. So if you are retired and looking for a small loan, be aware that the only guarantee that you will have to present to the bank you will contact will be the last pension slip. Regarding the personal data, the maximum age limit beyond which it is not possible to receive funding depends on the bank you contact, but it is usually set at 75 years.
Who to contact to receive a small pension loan
Today, much more than what happened a few years ago, it has become a real company to choose which company to rely on to receive the financing we need. Especially when it comes to small loans, the products that are made available to us are many, and are aimed at meeting the needs of any customer. So it is good to inquire about all the opportunities that the financing market offers us, in order to identify what is right for us. So let’s see which are the best banks to turn to if we are looking for a loan for a small amount, especially for pensioners.
As always, our advice is to rely on the major companies, which certainly offer greater reliability than smaller companies, as well as usually offering a wide range of products to choose from. To choose which company to apply for a small loan for retirees, our advice is to visit the websites of the various banks, where you will find all the information about the products reserved for customers. Furthermore, it is often possible to find special offers valid only for some periods, therefore it is good to always keep informed about it.
Small loans for retirees with assignment of the fifth
One of the most convenient formulas regarding loans granted to pensioners is undoubtedly the so-called assignment of the fifth. If you have started looking for information on loans for seniors, surely you have read this option, offered by all the major companies. What is it about?
The assignment of the fifth is a form of loan intended for civil servants and pensioners, to that category of customers who can therefore guarantee the bank an insured income every month. The main feature of this product is described by the name itself, and is represented by the fact that the repayment installments that will be paid each month will never exceed one fifth, i.e. 20%, of the salary or net pension received.
This means having the guarantee that the financing expenditure we will receive will not unduly affect the monthly budget available to us. A further advantage is represented by the possibility of paying the installments, making us deduct them from the pension that we receive every month.
So we will have no problems such as remembering to pay by the due date, with the risk of penalties in case of late payment. Finally, as regards the interest rate applied to the sum that is lent to us, this is usually lower than that of “classic” loans, precisely because of the guarantees that we can give to the bank that grants us the loan.