Let’s find out, with the help of this guide, what personal loans are and how they work with the transfer of the fifth , to whom they turn and their characteristics.
What is the assignment of the fifth
Let’s start by understanding what is meant by personal loans with assignment of the fifth. This type of loan, more correctly called personal loan with assignment of the fifth salary , is a specific type of personal loan, similar to the standard loans with regard to operation, but different for what concerns the calculation of the installment and the method of repayment . As we explain in the dedicated guide on the site, the cata of the installment of a loan with the assignment of the fifth salary is based on the salary received by the applicant in the month. In fact the installment of this type of loan must always be equal (or less) to the fifth part of the salary (that is to the salary divided by five).
The method of repaying the loan received is also different from the other types of loans; in fact, those who have taken out loans with the transfer of the fifth must do nothing for the payment of the installment, which is deducted directly from the salary . The assignment of the fifth belongs to the category of personal loans, and for this reason it can be requested without having to specify the purpose for which the money received will be used.
Who can apply for a personal loan with a transfer of the fifth?
This type of personal loan can not be requested by everyone. In fact for its issue it is necessary that the applicant is in possession of an income that derives from employment , that is, a paycheck. The transfer of the fifth is also accessible to pensioners , as the pension bill corresponds to a salary for salary characteristics. Even those who have a fixed-term job could theoretically access a loan with a transfer of the fifth, but with a pact that the repayment period is equal to or shorter than the duration of the contract.
On the other hand, those who do not have a paycheck, ie self- employed , casual workers, housewives or students, are excluded from the possibility of signing a personal loan with a transfer of the fifth, just to mention the most common types of applicants.
The advantages of the assignment of the fifth
Personal loans with transfer of the fifth can be very advantageous for those who need an unfinalized loan, as they almost allow you to forget about the loan. In fact, the deduction of the amount to be returned to the bank or financial directly from the salary or pension, does not imply any charge on the current account or payment by other means.
In this sense, the person concerned then receives a salary or a pension with a sum net of the repayment installment of the loan.
The second advantage given by the assignments of the fifth derives from the fact that they can be subscribed by anyone who receives a salary or a pension. For this reason the loan is also accessible to categories that face difficulties in receiving credit, such as bad payers or protestors . In fact, in the case of these two categories, the lack of reliability of the financial profile is offset by the fact that it will not be the debtor to pay installments but the employer. In this sense, the repayment method is in itself a guarantee , which therefore allows to overcome the obstacle given by the registration of the subject to the databases as not fulfilling the financial commitments made.
The third advantage given by the sale of the fifth concerns the amounts payable and the duration of the loan. In fact, usually the figures provided with this type of loan can also be quite high, just as long is the duration of the loan in case of major personal loans.
The duration of the loan is also proportional to the amount requested and therefore also depends on the amount received as a salary or as a pension. The advantages described so far apply both to the sale of the traditional fifth and to the sales of the fifth online
How to apply for a personal loan with assignment of the fifth
The request for a personal loan with assignment of the fifth does not differ in its main characteristics compared to the request for a traditional personal loan. The applicant must present to the bank or to the financial a document attesting the income , an identity document and a document that proves the actual residence , such as a certificate of residence or a user.
Upon acceptance of the practice, a document is provided to be delivered to the employer , for the payment of the installment directly on the paycheck. Once signed the document, the worker or the pensioner who received the loan will not have to do anything else, as the installment will be deducted automatically from the salary or pension. Finally, refer to the specific guide on the site to find out how to choose and subscribe to the sale of the fifth cheaper .