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Loans to pensioners are, as the definition itself suggests, loans granted to all those who receive a regular pension, which is provided by Social Institute or by other social security funds. If until some time ago a pensioner encountered some difficulty in being granted a loan since the age limit, once rigidly fixed at 75, effectively prevented the same from repaying the due “in time”, today things have changed. 

In fact, there are many proposals on the consumer credit market for this category and very often they are more competitive and advantageous financial products than standard personal loans. There are, for example, special concessions for Social Institute and ex-Government Agency pensioners, or for former state and public administration employees, who can access particularly preferential rates and special conditions.

Let’s see together the various types of loans to pensioners and any facilities.

Retired personal loans

Retirees can have access to classic personal loans just like citizens who are still working. Indeed, one could say that retirees are potentially more facilitated than other categories because being a pensioner makes the monthly income on which the loan is granted certain and demonstrable.

The only limits against which they can be discounted are the personal data; if we consider that these loans can last up to 10 years, it became difficult to have access to this credit in all its potential.

Now things are changing and the limits have risen and vary, according to the various lenders, between 75 and 90 years. For the rest, personal loans to pensioners do not differ from the standard ones: if the applicant is not reported as a bad payer and has a sufficient monthly pension to guarantee the installment, he can easily have access to these loans, even if it is preferable that he takes out insurance on life when it is not mandatory.

Transfer of the fifth on the pension

One formula considered particularly advantageous for loans to pensioners is that of the Transfer of the Fifth on retirement. This is a particular type of non-finalized loan, which allows the reference pension institution to directly withhold the amount of the installment and pay it to the financial company or bank that granted the credit.

This loan is particularly easy to obtain because the commitment that the institution assumes towards the creditor is valid as a real guarantee and allows to obtain the sum even for those retirees who do not have a very linear credit history and maybe are reported in the various SIC.

However, the fact remains that those who are retired have a “fragile” economic condition even when they benefit from a very high pension. In the ‘eyes’ of a credit institution, for example, it is a person who is exposed to a higher risk linked to the need to bear health costs. Not only that, once the work cycle is over, in case of need it is somewhat problematic to come back to increase revenue.

For this reason, the legislator, when introducing the possibility of being able to access the assignment of the fifth on the pension, also established that not all pensions can be used for the retention of the fifth of the monthly emoluments. But above all, he established that not all pensions can be used for the calculation of the fifth, since the applicant must be guaranteed at least the possibility of a minimum subsistence in order to live.

Pensions not accepted with the assignment of the fifth to pensioners

All occupational pensions, which in the previous perspective reach a minimum threshold of monthly amounts, can be used (even if they come from contributions paid as former self-employed workers). Once you have finished your work cycle you are substantially leveled in the all-inclusive condition of “pensioner” and therefore the possibility of requesting the assignments of the pension is triggered.

However, those that are provided by the state as subsistence aid, such as social allowances and minimum pensions, cannot be accepted. In the same way, invalidity and accompanying pensions cannot be used. These are intended exclusively for the maintenance of expenses aimed at guaranteeing a good care treatment for those who are recognized as beneficiaries.

The transferable share

To know the amount on which the transfer of the fifth of the pension can be calculated, simply transfer the transferable share. This is equal to the social allowance, and its calculation must be done by an Social Institute office, which must also issue the appropriate certification attesting the amount that can be used in the loan against assignment. The calculation is however quite easy, since in general the amount of the pension that cannot be touched must be at least equal to the social allowance in force for that year.

For simplicity we assume that this amount is equal to 500 USD, and that the pension received is 1100 USD per month. The calculation of the assignment of the fifth can be made on the 600 USD that exceed the monthly pension once 500 USD are removed. So, always in general, the maximum installment that can be paid will be 120 USD per month. If, on the other hand, a pension of 800 USD is received, then the transfer should be calculated on the 300 USD which exceed the 500 of the non-usable quota, for a maximum monthly installment of 60 USD.

Conclusions

Whether you choose standard personal retirees loans or those in the form of a fifth installment, you should always proceed with caution starting from a request for a quote. In fact, through this first cognitive phase there is also the possibility of ascertaining whether the financial or bank has an agreement with Social Institute. For this reason, it is called to apply improvement conditions on the possible loan agreement, exempting from the payment of accessory costs, or by applying lower interest rates. This principle applies both if you turn to an online bank such as Across Lender and to the more familiar Post service Italy offer, which we remember, does not finance directly but relies on banks ‘external’ to the group in order to provide the various types of financing.

 

Increasingly banks and financials advertise the possibility of obtaining a loan quickly, even in a few hours. But is it really so? In the following article I will reveal the “unspoken” of the advertising slogans and provide you with some tips to avoid being unprepared in the face of any emergencies.

What is meant by quick loans?

Let us have no illusions, whether at banks or financial, physical or online, if you are a new customer and ask for a loan, hoping for a day’s disbursement in most cases is far too optimistic.

When we talk about quick or immediate loans, we usually mean that you will be able to take advantage of a quick investigation phase, even for only 24 hours and / or, once a positive result is obtained, a subsequent equally rapid disbursement (in further 24/48 hours ).

And these times, always for new customers, are respected only in the event that there is no type of hitch, namely:

• all the required documentation was delivered in a single solution, without having to proceed with subsequent additions;
• there are no adverse elements to the granting of the credit regarding income and creditworthiness, which means being in possession of all the minimum requirements deemed indispensable by the requested bank.

If even just one of these aspects is missing, the credit institution will inevitably have to take the time necessary to carry out further assessments, requesting, if necessary, additional documentation or guarantees. It is therefore very difficult to access fast loans to all those consumers who fall into the category of bad payers, who cannot demonstrate a constant income (with or without a paycheck) or who cannot offer any type of guarantee.

In addition, the speed of these loans, not always but often, is paid by taking on higher rates than those of a traditional loan.

Things change if the loan is requested by those who are already customers of the lender requested. In this case, in fact, our economic situation is already known to the bank in question, so the preliminary phase can be much faster, even a few minutes, especially when it has already been evaluated in the past (for example for a previous request of a credit card) and when the amount you are aspiring to is low. And most of the time the application can be made directly online, from the personal area of ​​your internet banking. However, a total timing of at least 24/48 hours must be taken into account.

However, there is the possibility of preparing in advance, before actually needing liquidity, by requesting the so-called pre-valued revolving loans. More and more banks offer their account holders the opportunity to request (usually from their private internet banking area) the granting of a credit line (generally not exceeding $ 5,000) agreed in advance, but to be accessed, even only in part, when needed, by paying interest only on the part used from time to time. The reimbursement takes place with monthly debits in the current account which replenish the ceiling granted at the start. Again, pay attention to the rates applied (TAN and APR) which in some cases could be quite salty.

This form of pre-valued revolving credit can also be accessed from some account cards currently on the market.

Organizing expenses and having an efficient financial planning is not? The strength of many people is the result and the result could not be different: ending our hands with the red beads ! According to research carried out by Cream Capital Company and the National Confederation of Shopkeepers (CNDL), the lack of financial education?

The main explanation for the fact that one third of Brazilians? led to indebtedness. Six out of ten debtors don’t know how much they owe? which reduces the chances of getting out of the red. But for everything h? a solution. At the ? It is impossible to keep your accounts at the tip of the pencil and? recover financially ! With determination, it is possible to reformulate the management of the accounts and pay the debts. In this post we will give tips on how to organize debts and end them. Keep an eye!

Write it down, write it down, write it down

Putting all the debts at the tip of the pencil, the interest on each loan and your expenses? the first step towards financial organization. Identifying what the expenses are? Is it possible to cut off those that are unnecessary and make your budget leaner? which means money left over, which can be used to meet your financial commitments.

So, write down everything you want. spent on the day, from a simple coffee to? a purchase at the mall, and assess which expenses can be eliminated, even temporarily, and which can be reduced. Also start to control the consumption of electricity, water and gels in your home. Review consumer habits at the supermarket and phone plans. Are you? you will feel a huge difference! If you want to have everything noted down, but in a more practical way, enter the Money Lend Capital app. When you connect your account, expenses are automatically listed and categorized. Do you doubt lists? Is it important to know where you are? are you? paying too much interest, what to be? Useful in the next tip.

Search for lower interest loans

Trying to renegotiate with the lender, apply for a loan with lower interest rates or bank portability are some options that can help many indebted people to pay off their debts and get out of the red. Interest rates vary widely between different financial institutions, which can benefit those who are looking for better rate conditions to negotiate a new credit and settle larger debts.

Several trustworthy institutions in the market that charge lower interest on personal loans. The case of Just , Creditas, among others. Are you? can simulate loans in various places within the Money Lend Capital app. The idea ? What with the money you borrowed? pay expensive debts, such as overdraft and credit card, and start paying less interest. See how? Is it easy to start organizing debts?

Moderate spending on leisure

For many consumers, spending on leisure is very heavy for the pocket. Cinema, shopping, restaurants, trips, tours and many other expenses that, many times, do not fit in the budget, but even so they are still being realized. Free activities like trips? beach or walks in the park are good alternatives for those who want to have fun, however, without worrying about the huge expenses involved. Therefore, if you want to organize your debts, moderate in the leisure programs and put on the tip of the pencil what they represent for the budget.

Don’t make new lives

For many people making installment purchases d? the origin of “a real” snowball “, and for that reason this option of payment ends up being a great vile? for indebtedness. When purchases are in installments, the consumer has the false impression that he has spent little, that you didn’t see the total amount come out of your pocket (at least not immediately), what? a danger when organizing debts.

Looking to save to pay? view and still bargain a good discount for using money? an excellent advantage. For this reason, completely eliminate credit purchases and credit cards. What about ?, did you like our tips? J? found yourself wrapped up in doubts? How about helping your friends organize their debts? Then share our content on your social networks!

Brazil is a country that has very high loan interest rates and taxes, which can create debt situations that are difficult to resolve. What if we tell you that your car parked in the garage could be a solution?

Just do a refinance. In order for you to understand the advantages of this option, we will explain how the interest rates on the secured vehicle loan work.

We know, after all, that among the countless forms of concession that exist on the market, refinancing is one of the most advantageous.

It can give you access to considerable amounts with a much more affordable fee for you to pay. It is not by chance that this option to obtain credit has been growing in the country. Find out below why it offers the best interest!

How does interest in the vehicle loan guarantee work?

Basically you will need to place your automobile as a guarantee of the payment of the contracted loan.

For the bank, divesting its property means greater security – this is because put simply, the institution is more confident that it will not default. After all, if the amount is not paid, the bank will take the vehicle.

It would serve to cover what the institution did not receive from the debtor. Because of this, companies lower interest rates, as they consider the transaction more secure.

In this way, you get more than 50% of the price of your car as a loan. The exact percentage will vary depending on the chosen financial institution. Another influencing factor is the age of the vehicle: the newer the better the rates and values.

Interest starts at just 1.50% per month

Thanks to the practices we described earlier, refinancing interest can start at 1.50% per month. In comparison, interest rates for personal credit in the country’s major banks varied between 4.33% and 5.91% in 2018. In January this year, the minimum rate reached 3.78% according to the Good Finance Bank.

The drop in interest rates also affects this modality, which already has better rates. That is why in most banks and fintechs it remains below 2%.

Knowing how the interest rate on the secured vehicle loan works, it is clear why it is advantageous. Today it is one of the best alternatives for those who want to escape the high-interest rates of the credit market.

The best alternative to high-interest rates

This form of borrowing is a hand in the wheel – no pun intended! – for those who can no longer bear the debts. You don’t even have to finance the entire value of the car, but just what you need.

It is because of all these advantages that more and more Brazilians use their cars as a guarantee in obtaining credit.

Want to refinance with low-interest rates? So take the time to visit our website

In this article, we check how the interest rate on the vehicle secured loan works. For a service specializing in secured vehicle and property loans or auto finance, visit our website.

We help you negotiate with the most advantageous financial institution for your needs. Find out more by clicking here.

Are you negative and need to regularize the financial pending,  Although many think the opposite, it  is possible to hire a loan online, even with financial restrictions. If you fit this group of consumers, follow our article today and ask your questions about it. See the conditions and find out if you can. Are you able to get the loan?

 

Understand the online loan

The online loan available quickly and simply, especially when the customer, even with a negative name, has a pre-approved limit. Are you can get it through your bank or through financial intermediaries and online platforms. It is interesting to note that, due to the name restriction, the interest rates applied to loans for negative payments may be higher than in the payroll loan, for example. However, when we talk about online loans, the interest rate tends to fall, mainly because a virtual environment is used, which requires few physical functionalities.

 

Conditions for hiring online loans by negative

The conditions of online loans for negatives are different when compared to the conditions of loans for those who have a clean name. If you theoretically, the chances of not repaying the loan installments, in the view of the financial or bank, are much higher. See below the main eligible profiles obtaining the online loan, even with a dirty name:

• Retirees and pensioners
• Public Servers
• Military Police
• Self-employed and salaried
• Owners of real estate paid off

 

Main advantages of online loan

• No queues: how transactions are carried out online, you do not waste time in long and long lines;
• Flexibility: hiring can be done anytime, anywhere. How can I not it is necessary to obey the opening and closing times of bank branches, for example; it is possible to send your proposal between one appointment and another;
• Quick analysis: can online loans be acquired more quickly, precisely due to Flexible cadastral analysis. While in banks, approval can take weeks, on digital platforms, the result comes out in a few days.
• Lower rates: how did we say there at the beginning of the article, the interest rates on online loans are much more advantageous and lower than those of conventional loans. The advantage attracts customers who are always looking for the lowest percentages.
• Comparison of rates and values: in a few minutes, the client has access to several loan options, being able to quickly check the applied interest rates, number of contracted installments and other information. All information is provided on the computer screen, before closing the contract.
• Security: Unfortunately, going to the bank an increasingly risky choice,  what people of m -f they are always ready to act negatively. When we hire online, we can be unconcerned about insecurity. Also tranquility, how much online security, already that platforms are technologically protected from intruders.

You can access these and other loan options on the credit comparator within the Good Lenders app. So, are you do you know how much to go pay interest and installments at each partner institution. If it is in need of a loan, download and check it out! 

 

The state of alarm created by the pandemic is causing many people as self-employed or SMEs, people affected or people who telecommute part-time to see their income reduced or even completely abolished. In this complicated financial situation, having to pay the monthly installments of a loan can become an arduous or almost impossible task. To avoid the repayment of a loan becoming a problem, there is an alternative to reduce or eliminate the loan installments without incurring a default : the lack.

What is a lack of a loan?

A deficiency consists in failing to pay for one or several months all or part of the monthly installment agreed with the entity. This allows us to ease the financial burden we have during the months in which our income has been reduced. There are two types of deficiency:

• Total lack : it consists of deferring the full payment of the monthly installments, both the principal and the interest, which will allow us not to pay anything for the duration of the grace period.
• Partial lack: it consists of not only paying the capital to be returned, that is, the fee would only consist of repaying the interest.

How do I apply for a consumer credit deficiency?

There is no predetermined process by which to apply for a grace period from the bank. It is a negotiation with the bank to change the contract and to allow us this alternative

Currently, although the bank branches are still open to the public, it is best to contact our manager via telematic means (online and telephone) and go to the branch only if the signing of the new contract can only be done in person.

It is important to make an estimate of how long we believe that this situation of financial imbalance caused by the coronavirus will last in order to choose the months during which we will apply this alternative.

If we anticipate that we may fall into default, it is important to contact the entity to explain our situation and find a solution before not paying.

How much does it cost to defer payments on a personal loan?

There are two types of expenses that the grace period may entail.

• The cost of changing the contract. Although not all entities will charge this commission, it may be that we have to pay a percentage to fill the gap.
• The cost of lack. Making a total or partial grace implies delaying payments and extending the repayment period, which will generate interest for a longer time.
• To find out how much more the grace will cost us, we must subtract the total cost of the grace loan minus the total cost of credit before the grace period. The difference will be the cost of the lack.

And if they do not grant me the deficiency, what other alternatives do I have?

Banks are not required to perform a grace period. Therefore, if our negotiations do not work, another alternative to which we can is to request an extension of the deadline. By lengthening the time during which we can repay the loan, the monthly payment will be lower. However, we must bear in mind that a longer repayment time also implies that interest be generated for a longer time.