Loans and salary-backed loans for employees and pensioners


The crisis bites the wallet and access to credit becomes increasingly difficult. Don’t despair, there is a solution. You can make a salary or pension transfer.

Remember? The fifth assignment is a small personal loan that the bank grants to holders of a fixed income. And the repayment installment cannot exceed 1/5 of the net monthly salary . The fee is taken from your salary and forfeited by the bank.

In other words, the fifth assignment is an alternative to consider if you need to get more liquidity. I know that giving up part of your salary is difficult and you just can’t make a decision.

Let’s start with the advantages

Cession of the fifth yes or Cession of the fifth no? Maybe you just have confused ideas. With this article I will show you the advantages and disadvantages of the sale of the fifth . A small advance? The advantages outweigh the disadvantages.

The assignment of the fifth is accessible to bad payers

You have not respected the payment times for the mortgage payment or you have issued overdraft checks. In the worst case you have a foreclosure in progress or you are a protestor . Result? You have been reported to the Central Credit Register as a bad payer. The alert usually lasts about three years.

So the banks and financial companies deny you any request for financing. Well, with the sale of the fifth you will not have to undergo credit checks. Your salary will suffice as a guarantee for the banks. The loan will have a duration from 24 to 120 months and an amount up to 50,000.00 .

You don’t have to motivate the loan request

The assignment of the fifth is a loan not finalized , therefore at the time of signing the contract you are not required to justify the request . Without words, the bank is not required to know what you will do with the money once it has disbursed the loan. You can give yourself a trip, fix your home or buy a new car. Then use the fifth assignment also to pay off debts.

It’s a secure loan

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The assignment of the fifth is a loan secured by an employment risk insurance . This form of guarantee is provided for by law and is contained in the contract.

So if you lose your job and run the risk of not repaying the loan, the insurance company will pay you in your place. Afterwards you will have to reimburse the insurance when you have found a new job. Otherwise you will be reported to the Central Credit Register as a bad payer.

It’s an easy loan

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The sale of the fifth is the perfect solution if you do not tolerate interminable bureaucratic procedures and complex contracts. There are no additional signatures, therefore, no mortgages or guarantees. To guarantee for you will be your salary or your pension.

Goodbye variable interest rates. This loan has a fixed interest rate for the duration of the contract. And you can also decide the number of installments to be paid. Yes, depending on the validity of the loan you can decide to defer payment fees over 24 or 120 months.

One more thing: you won’t have a fixed appointment with the bank . It will be your employer or the social security institution that withdraws one fifth of your salary or pension and directs it to the credit institution.

And the disadvantages? 

The disadvantages are few but it is good not to underestimate them. In the event of dismissal your employer is required to withhold your TFR and pay it to the bank to cover the outstanding debt. It may happen that the sum is not enough to cover the loan, well then get ready to say goodbye also to the holidays not taken and thirteenth. As a last resort you can resort to insurance which in this situation would represent other additional costs.

Business involvement

The involvement of the “boss” is fundamental to start the financing. Some employers are unwilling to agree to take over the fifth assignment. You’re wondering why, aren’t you?

Simple, they don’t want to be subjected to corporate checks by the bank. I will tell you more, the bank can question the granting of the loan if it considers the company for which you work unstable.

 

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