The credit even for those who do not have a current account
Being able to access a loan in an economic condition in which today’s job market is concerned is not always easy. Banks ask for guarantees, and for those who do not have a house or a regular annuity, proving to have a well-defined income is difficult.
Furthermore, not all jobs allow you to have a paycheck which is another of the fundamental elements in order to receive a credit line from a bank. Guarantees are important.
A loan, of any amount or kind, involves a cash exposure by the creditor which must be repaid by the debtor. This will have to demonstrate that it can do so within the timeframe it has been granted and in the manner signed by the contract.
Banco Posta met its customers with a series of financial products aimed at allowing access to credit even without the presence of a paycheck or certain collateral.
We are talking about Lite lender loans and in particular a big news connected to the owners of a Post pay Evolution prepaid card: Small loans. Thanks to its characteristics, the Post Italiane card is among the most widespread in the area.
Not only does it have the functionality of a credit card, but an Iban is also connected to it, which therefore allows you to use this financial instrument as if it were a real current account, thus receiving transfers and payments.
Simplicity in receiving it and at the same time a 360 degree use make Post pay cards a truly unique tool. Post Italiane was not limited to this.
He made sure that anyone who owned a Post pay Evolution also had the possibility of accessing a small loan that takes the name of Small loan.
But what are the characteristics? And how can you access the loan? Below we list some tips in order to apply for your Small loan.
Small Loans: What they are
We speak of Small loans since three different types of amounts that can be requested are concentrated in the financial product. A loan can therefore be made for $ 1000, $ 2000 or $ 3000.
The amount varies, but the refund is the same for all three cases, since the refund must take place in 22 months with installments that are established according to the type of amount.
The Small loans, as the name specifies, give the possibility of accessing a limited credit since the maximum amount is $ 3000, but without having to present a paycheck or guarantees.
You don’t even need to have a current account with a banking institution or . However, there are some basic requirements for receiving the loan. The basic and necessary condition for the purpose of the request is to be in possession of a Post pay Evolution card.
How to get a Small loan
As underlined, the basic requirement in order to receive one of the Small loans at the post office is to be a Post pay Evolution card holder. This type of credit was created precisely for those who do not have a current account. Being able to apply for Small loans is very simple.
Also on this aspect Post Italiane wanted to reflect the characteristics of its prepaid card: simplicity and practicality. Just go to a post office, or contact the toll-free number provided on the site.
It will also be possible to make an appointment with a consultant from the Italian Post Office. In any case, the following documents are required in order to receive the loan:
Post pay Evolution: the prepaid card of Post Italiane. Without it, it is not possible to access Small loans. The card must obviously be active;
- age: the applicant must not only be the holder of the card, but must have a comprehensive age between 18 and 76;
- identity document: it will be necessary to present a valid identity document attesting residence, such as an identity card;
- health card: at the time of the request you must also issue a copy of the tax code on the health card;
- document attesting the income: finally you will be asked for an income document certifying the possibility of repaying the loan.
Small loans have the particularity of being able to be made without the presence of a paycheck and therefore of a specific or indefinite employment contract.
Even if you do not have this income document, you will still be asked to present other types of documentation that attest to your ability to repay the loan.
Even if of a small amount, Small loans are still part of the category of loans and as such Post Italiane exposes itself in order to allow access to a credit by its customers.
For this it is sufficient to present a Cud to be able to demonstrate one’s income capacity. Other proofs of income will also be accepted which allow to be able to cover the payment of the monthly installments.
In the event that the income cannot be demonstrated, the loan may be refused, so if for example there are other loans, or the subject is registered in the bad payers’ lists.
Calculate the loan installment: Rates and interest
Once the documents have been verified, the loan will be disbursed directly on the Post pay Evolution or on the bank account where it is present. The installments will be taken directly from the prepaid card.
Within fourteen days from the disbursement of the loan it will be possible to request the right of withdrawal without paying the relative interest rates. At any time, after the expiry of the days for the withdrawal of the application, the loan can still be paid off early, without any type of penalty applied to the request for closing the loan.
The installments are constant and vary according to the type of amount requested. In any case, the repayment takes place in 22 fixed installments. For the amount of one thousand USD, there will be 22 installments of fifty USD.
For those of two thousand, the installment amount is one hundred USD. For that of three thousand USD the sum is one hundred and fifty USD. The Taeg expected for 2018 is 10.14%. In the event of early repayment, interest will be calculated up to the moment the loan is closed.
Some examples of Small loans: The simulations
Below we describe three different simulations based on the type of Small loans, listing the amounts, the installments, the total to be paid and the final cost:
- 1000 $: the installments are 22 with a monthly payment of 50 $. The total that will be returned is 1100 $, with a cost of 100 $;
- $ 2000: the refund always takes place in 22 monthly installments which will be credited directly to the Post pay Evolution. The installments are from $ 100, for a total refund of $ 2200. The total that is returned at closing is $ 200;
- 3000 $: for the Small loan of maximum amount, the installments are always 22 from 150 $. The total amount that will be returned is $ 3300 with a loan cost of around $ 300.