Loan application – important advice


Knowing the world of lending is not easy, as the offer of loans in the market is very wide. If you need to deal with your financial situation, you should first orientate yourself in the main parameters of loans.

Do you want know some advice?

Do you want know some advices?

Here are nine advices for loans that may be helpful in choosing them.

Do I really need this loan?

Do I really need this loan?

The very basic rule is that the life of the goods or services for which we borrow should be longer than the repayment period. It is not wise to borrow 2 and a half thousand dollars for a luxury holiday, for example. After a few days you are back home and then you have to pay the installments for months or years. On the contrary, it makes sense to borrow, for example, when you want to furnish your first apartment, where you will use this equipment for many years.

How much can I borrow?

How much can I borrow?

It is important to know your options. Do not overestimate and avoid overly high commitments. Take your pen and paper, write down your household’s monthly income on one hand, and on the other hand make regular expenses such as rent, energy, insurance, food costs, transportation, school clubs, regular shopping, and more. Don’t forget the irregular, seasonal expenses that await you in the near future. The difference in income and total costs will reveal what you can really afford.

For how long do you take a loan?

For how long do you take a loan?

When you wrote down your income and expenses, you see how much you are able to pay monthly and how many months you want a loan. Do not be tempted by too low installments, which you do not expect them to repay. Conversely, evaluate your options realistically and critically, and if possible, choose a higher installment, even if you should be stunned for a while. Ultimately, your loan will be much cheaper. Also, count on some unexpected expenditure reserve.

How to choose a provider?

How to choose a provider?

If you are considering a loan from a non-banking company, make sure that it is eligible for loans, a list of lenders will help you. Anyone who does not have a license and lends money for a fee does so illegally. In your own interest, avoid such a company if you do not want to get into big trouble. When borrowing, you can be sure that it certainly has a lending license.

Compare offers and pay attention to all details

Compare offers and pay attention to all details

Compare multiple loans and read all available information. You can use online calculators to estimate the installment. Note that interest is not a key parameter in the selection. Also note the fees and conditions. Often advantageous interest is conditioned by insurance or active use of the account. Also check out the seasonal discounts that lender offers to clients. You can save on fees and interest.

There is no need to “overwrite” applications

There is no need to "overwrite" applications

It’s good if you compare multiple offers and don’t touch right away. However, do not address too many companies, up to three. With a large number of pre-approved loans, you may prove to be ‘trusted’ in your registries , your credibility is declining, and in the end, this may be the reason you will eventually not receive the loan.

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What else to watch out for?

What else to watch out for?

While the RPMN reflects how much the credit will cost you, it says nothing about the additional charges or sanctions that may arise during the repayment period. They can get you overpriced. It may happen that you are late in the installment or run into unexpected financial difficulties. Therefore, you should inquire in advance what will happen in this case. Also be interested in the possibility of early repayment.

Do not hesitate to sign

Do not hesitate to sign

Be sure to read the clause carefully before signing and ask questions you don’t understand. Never sign a contract under time or other pressure. Also avoid emotional spontaneous decision making.

And one advice to conclude: If your bank does not approve your loan, it will protect you from excessive debt and repayment problems in the future. Maybe it is the right time to get your finances in order, get rid of the disadvantageous old debts and find ways to save.

Loan without paycheck, but what guarantees?

The paycheck represents the most complete document to be able to evaluate the income situation of a worker: it contains information on the date of hiring, on the presence of transfer quotas of the fifth, etc.

The preference that banks show towards it is due to the fact that it represents also the simplest way that can be replaced with the CUD if the recurring payment with the specific indication (for example emoluments) can be identified on the current account.

However, some banks are still obstructing in this regard, so one must first ascertain the state of flexibility shown. Not infrequently, however, there is no real paycheck to be submitted together with the request for financing, and in this regard there is no rule that applies to all banks.


When is a guarantor accepted as a guarantee without a paycheck?


A situation that often occurs in this regard is that of housewives who have no demonstrable income. However, for them there are no major problems in the presentation of a guarantor if it is a spouse (especially if you have a communion of assets) or a parent or a brother (in all cases it is even better if they present themselves as co -obliged).

The banks do not make great resistance if in general there is a kinship link between the financed and the guarantor, while if this assumption is lost, difficulties may arise for slightly higher amounts.


Without paycheck but with wealth: the easiest solutions

money loan

Banks are always willing to meet their customers who have money invested, especially to prevent customers from divesting those assets. Above certain amounts you can even get very advantageous rates, so if you have investments scattered in different banks, (and maybe some products are not very satisfactory), the right motivation has come to group the investments and take advantage of the facilities on the loan . In this case, the lending bank has a document signed which prevents the investments or securities given as collateral from being sold, until the loan is repaid.

The best solution, however, is represented by the opening of an account credit which charges interest only on the money actually used. Obviously there is always the possibility of requesting a liquidity loan, but you must be the owner of a property, on which the mortgage will be placed as collateral for the loan itself.

Finally, there is the possibility of taking advantage of the loan changed but the banks hardly agree to provide this form of loan if they are not also guaranteed by demonstrable or non-demonstrable income.


Without a paycheck, without investments and without real estate: credit with a pledge

investment loan

In this case we go back a little to the old, given that the loan on pawn remains a more elegant evolution of the barter. By contacting the banks to pledge precious items, the best valuations are obtained, as well as the acceptable interest rates, rather than going to the pawnshops. In any case, it is necessary to possess very specific valuable goods, generally represented by certified works of art or precious objects.

Furniture loan: which one to choose? – Customized loans

Do you need to change your furniture, buy a bedroom for children or do you need to furnish your new home? The furniture loan is the best solution to be able to buy furniture serenely without finding yourself in difficulty in spending. You can get the liquidity you need and repay the loan in convenient monthly installments without giving up on your desires. In addition, with the furniture and appliances bonus you can take advantage of tax deductions.

Do you need to renovate your home? Find out which is the cheapest restructuring loan!

Now let’s see together what are the types of loan for furniture and which is the most convenient.


Financing for furniture: what are they?

Financing furniture

To purchase new furniture through financing it is possible to request:

  • Loan for finalized furnishing
  • Loan for furniture not finalized
  • Assignment of the fifth of the salary or pension.


Loan for finalized furnishing

Loan for finalized furnishing

If you request a loan for finalized furniture or the sum received goes entirely to the shop where you decide to buy the furniture. This is a disadvantage because if, for example, you want to buy furniture not in a single store but in several, it is not possible for you. To do this you should apply for a loan in each store but this becomes difficult and often not feasible.

In addition, you must be very careful not to delay the payment of the monthly installments to avoid finding yourself with the increased interest, risk being reported to the databases or, in the worst cases, having to repay the loan in a single solution.


Loan for furniture not finalized

Loan for furniture not finalized

The non-finalized furniture loan is a real personal loan . Unlike the finalized financing, it is not necessary to specify the use that you will make of the liquidity and therefore you can use it to buy furniture in multiple stores.

However, not everyone can apply for a personal furniture loan because it is necessary to have specific requirements and not to have been protested or to be bad payers.

In the loan for non-finalized furnishings, Taeg and Tan are often high and, in order to be able to apply for it, it is necessary to demonstrate to the financial institution that they have an income and guarantees that can ensure the repayment of the same. Again, you must absolutely avoid delaying the payment of the monthly installments.


Transfer of the fifth of the salary or the pension for furniture

furniture loan

The transfer of the fifth of the salary and the transfer of the fifth of the pension are the best solutions for home furnishing . Here are all the advantages:

  • Rates are lower than all other furniture loans
  • It is not necessary to present guarantees to financial institutions because both pension and salary are already a guarantee
  • You do not run the risk of forgetting to pay the monthly installment of the loan, and therefore risking late payments, because it is directly withheld from your salary or pension
  • The loan rate is low because it does not exceed one fifth of the salary or pension
  • There is no need to justify the request for credit and therefore you can use liquidity in any shop or supplier
  • The insurance policy also protects you in the event of job loss or serious events
  • You can request the transfer of the fifth of the salary or pension even if you have protested or previously delayed the payment of some installments of a loan and therefore reported to the databases . The assignment of the fifth is also the best financing for bad payers and protests.

The assignment of the fifth is also accessible to particular categories of workers or pensioners. In fact, it is also possible to request it:

  • With the disability pension
  • From new hires
  • With fixed-term contract.

If, on the other hand, you already have an assignment of the current one, you can renew the assignment or request the loan with delegation.