What are the best loan options for employees?

Financial unforeseen events can happen in anyone’s life, right? At these times, it is very important to have the adequate knowledge to prepare a plan that aims to cover such monetary deficiency and, thus, can bring normality to the daily life.

In this context, the loan is one of the best solutions to solve this problem, after all, the sooner this need is resolved, the better it will be for the individual who is going through a need to have financial capital at hand to solve a pain (situation problem).

With that in mind, we have prepared this article in which we will show you the best loan options for those who are salaried under the CLT – Consolidation of Labor Laws regime. Are you interested in the subject? Then continue this reading and learn more about the topic.

Payroll loan

Payroll loan

This is the best option to have a loan as an employee, after all, this modality is the one with the lowest interest rate among all options. This happens due to its low credit risk, in which the value of the installments of the contracted loan is already discounted in the payroll.

Therefore, the payroll loan for employees establishes a “win-win” relationship, that is, both the lender and the borrower achieve advantages in this financial transaction, in which the lender knows that the risk of default is low, and the the borrower will have the money he needs in hand and paying interest below what is practiced in the market.

Pre-approved personal credit

Pre-approved personal credit

Pre-approved personal credit is a quick and viable alternative for employees or not, given that this type of loan is already available for hire. The interest rate may vary over time according to financial history; and if the banking relationship is good, interest rates will tend to fall.

To make the contract, just use one of the self-service channels or go directly to your agency to request the loan and the desired amount. The installments will be deducted directly from the account, facilitating their management.

Overdraft

Overdraft

Although many do not realize that overdraft is a form of loan, this is one of the most widely used credit lines. But this is not a good choice for the long term, as the interest rates practiced are one of the highest.

However, it can be a short-term solution for the salaried worker, in which he will use the resources of the financial institution that maintains his current account to cover capital for a few days. Another advantage is the fact that it is an automatic contract, that is, from the moment the current account has a debit balance, the loan goes into effect immediately.

But as we said earlier, all this convenience comes at a high price, so plan to pay off that debt as soon as possible.

Credit card limit transfer

Credit card limit transfer

The transfer of the credit card limit is offered by some financial institutions as a form of loan, especially when the card is linked to the individual’s current account. This is a great option for employees or not, after all, it is possible to have liquidity and immediate credit, as this transaction can be contracted by the main self-service channels.

But before making this contract, it is important to check the CET (Total Effective Cost) of the operation to avoid unpleasant surprises when paying off the loan.

As you can see there are good loan options for employees, however you need to analyze each one according to your needs and payment term.

Would you like to offer the payroll loan benefit to your company’s employees? Then visit our website and register your company. And, if you have any questions, contact us and talk to one of our consultants.

Loan for Negatives: What is it and how does it work?

 

You are in debt and to make matters worse you discover that you will not be able to pay your credit card debt. Beat that desperation, you don’t know what to do until a “friend” of yours tells you about such a credit to negative, without consulting the register of debtors. It’s too good to be true, right? Understand what the loan for negative people is, how it works and when it is worth using.

What is it and how does it work?

What is it and how does it work?

Being negative means that your name is in defaulters list, debtors and consequently, dirty in the square. Even so, there are legal financial institutions that enable and facilitate lending to those with a dirty name. Which is a very good thing, but also very expensive. After all, as financial institutions have more risks in providing money to these proven debtors, interest rates are also much higher.

Negative Loan, the personal loan for negative payments, you take the money now to pay in installments in the future and the interest charged is 10.32%.

Negative Loan only makes loans to retirees and pensioners and Public Servants from all Public Agencies.

How to get out of debt?

How to get out of debt?

Attention, the loan for negative people must be used with financial planning or it can be the same as getting out of one debt and entering into another (the expenses must be put in the tip of the pencil).

Knowing how much money comes in and what your fixed monthly expenses are is essential to devise a strategy on how to get out of debt. Categorize your commitments: the most important are expenses for survival such as rent or the real estate consortium, food, water and electricity; then the important ones, but that can be left aside for a while, such as cable TV, gym, daily cleaner and finally those that are superfluous and that can be easily cut until the budget is up to date. Make a simulation of your expenses adding the provision of personal credit to negative and check if you will be able to comply with this commitment. What are you wating for?

Bank loan without paycheck and guarantor: is it really possible?

The offer of loans that Best Bank offers to its customers or those in search of liquidity is all in all endowed with various choices: from the more flexible options to the “mini” loan, from debt consolidation to the assignment of a fifth of the salary. If we remove the latter type (addressed only to public and private employees), for all other loans the Best Bank offer is also without a paycheck. What does it mean? Simply that they can also be requested by self-employed workers.

In this perspective, the possibility of applying for a loan without paycheck or without guarantor must be kept clearly separated if you have a demonstrable income of any other type (provided that it is certified regularly) or if you have no demonstrable income. In the latter case, the only way forward is in fact that of a guarantor with a very solid credit reputation and good demonstrable income.

What types of loans are offered?

What types of loans are offered?

As highlighted at the beginning, self-employed workers, therefore without a paycheck, and employees can apply for various types of financing with Best Bank, but in particular those that fall into the category of personal loans stand out. In particular, you can choose:

  • the range of flexible loans, that is, with options that make management and repayment methods easier, being able to adapt their characteristics to repayment capacities over time (max. $ 30 thousand);
  • the mini credit, of an amount up to a maximum of 1,500 USD, which is used to have a bearing with which to cope with small emergencies, with the characteristic of the revolving credit (therefore with the restoration of the credit line as the sum is repaid );
  • debt consolidation loan, designed for those who have too many monthly installments to repay and who want to consolidate them in one installment with a single monthly deadline, and perhaps require new liquidity.

Flexible personal loans

Flexible personal loans

Within this section we find various types of loans characterized by the type of associated flexibility option. That said, as regards the maximum duration (up to 84 installments) and the maximum amount (as already mentioned of 30 thousand USD except in the case of the “Round installment” typology) there are no differences. In particular, at 7 March 2019 it is possible to choose between:

  • Excellent: this is the loan that allows you to combine the duration and the installment, according to the amount to be requested, more suitable for personal repayment capabilities. This type of loan is the most classic type of Best Bank;
  • Total Flex: this loan has two series of flexibility options which are the skip installment (for a maximum of 5 times for the entire duration of the loan and in any case no more than once a year, with the skipped installment being postponed and added at the end of the amortization plan initially signed), and the reduction of the installment. This is obtained by lengthening the duration of the amortization plan (the amount of the reduced installment and the consequent increase in the duration is already calculated and indicated in the loan agreement). If it is possible to make early repayment, it remains free, also by making use of the flexibility options;
  • Jump: provides only the skip installment function, which however remains usable for a maximum of 5 times and only once a year;
  • Round figure: the duration and the amount are combined with the sustainable installment, the amount of which to choose from will in any case be a round figure easy to remember. But be careful: for this type the maximum amount granted is 20 thousand USD.

By accessing the relevant page of the official Best Bank website, you can proceed with a simulation that only requires you to enter the desired amount and your ‘ideal’ installment.

If the proposal is considered satisfactory, you can click on continue. You will then be transferred to the page in charge of entering your personal info, the starting point for the actual quote and a possible request for funding.

Debt Consolidation Solution

Debt Consolidation Solution

The Cream Bank can also offer the suitable solution for those looking for loans without a paycheck, but already have various installments to be repaid in progress. We logically talk about Best Bank debt consolidation, which recently changed its name to Capital Lender. The maximum amount granted remains at $ 30 thousand and allows you to pay off one or more loans with the addition of optional liquidity.

Mini credit

Spin Lender is designed to offer an always accessible reserve of liquidity, paying interest only on the sums used. Only when you use the credit of 1500 USD in whole or in part, do you start to pay the installments, which can be 50 or 100 USD (the amount of the installment depends on the amount used and the duration of the repayment plan). These include a capital portion (which gradually restores the ceiling) and interest (to a fixed extent). The request must be made at the branch being able to fix the appointment also directly from the official website. As economic conditions and related costs are to be considered:

  • 20 USD of annual management fee;
  • interest rates: Tan 16% and Taeg 23.30%.

Necessary requirements and documents
As said, this selection of loans can also be requested by those without a paycheck. Having said that, we remind you that you must still have demonstrable income or provide a guarantor. The minimum requirements are:

  • be subjects resident in Italy. If foreigners, residence for at least 1 year and an unexpired residence permit are sufficient;
  • be aged between 18 and 75 (which are considered at the end of the repayment);
  • request an amount not exceeding the maximum allowable.

As regards the documents requested, these are generally represented by:

As regards the documents requested, these are generally represented by:

  • unexpired identity document;
  • tax code or health card;
  • income certificate (last paycheck for employees and single model for self-employed workers. Pensioners must carry the latest pension slip, and as employees must carry the last Cud).

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