The category of pensioners has suffered to a great extent from the economic crisis of recent years, and still many elderly people find themselves in conditions of great difficulty, if not even in a state of poverty. The pensions of Italians, in fact, are much lower than those of other European countries, and this has enormous repercussions on their lifestyle, on their freedom and also on their health: it is very common, for example, that the elderly require a loan to cover the costs of medical care but, precisely because of the low income, they are not always able to obtain it.
In times of recession, moreover, the banks impose much more restrictive criteria for the granting of loans, cutting off the less affluent sections of the population, including pensioners, who in many cases fail to offer sufficient guarantees. However, by virtue of the fact that their income depends on a state institution, pensioners are at the same time ‘good payers’, and therefore can take advantage of various types of loans: let’s see which ones.
The Yobank bank offers up to 75,000 euros, repayable in monthly installments ranging from a minimum of 80 euros to a fifth of the pension, for a maximum number of 120. Only retirees who do not turn 85 within the first year can apply for it. extinction of debt, and also involves compulsory insurance coverage.
Unfinalized loan granted by Unicredit, for a sum equal to or less than 69,000 euros, repayable in a maximum of 120 installments, through the transfer of one fifth of the pension.
One of the most advantageous loans, both in terms of the amount payable (up to € 90,000, the highest in circulation), and the particularly low interest rate, which hardly exceeds 8%.
Protested pensioners: the sale of the fifth
Things get complicated for those pensioners who, in the past, have been classified as ‘ bad payers ‘, and have therefore been included in the Central Risks. For them, however, the possibility remains of obtaining financing through the assignment of the fifth : in this way, it will be the task of the INPS to pay up to one fifth of the pension, until the sum is completely reimbursed.
With this method even protested pensioners often manage to obtain considerable sums in a short time and with an interest rate, all in all, advantageous.
Small amounts for pensioners
Of course, the lower the pension, the lower the sum obtainable through a loan. For seniors who receive a minimum pension (or who, for various reasons, do not have an income), there is still the possibility of requesting small sums on loan.
By small sums we generally mean a loan that does not exceed 1,500 or 2,000 euros: in these cases, the guarantees required are really minimal, so they are a wide range of pensioners who can still access them. This solution, however, involves a less advantageous treatment, especially as regards the time in which the sum is to be repaid and the interest rate: it must therefore be considered as a last possibility.
Furthermore, let us not forget the opportunity for private lending, which generally offers less disadvantageous conditions and, above all, makes it possible to shorten by far the times: the great flaw remains, however, the lower reliability compared to a recognized credit institution.
As we said, current legislation allows pensioners to take advantage of the so-called salary-backed loan, which remains the most convenient and advantageous way to obtain medium or high sums. Almost all the elderly who receive a pension can access it, with some exceptions: let’s see which ones.
- Pensioners with social allowance
- Retired with civil disability
- Retired by check for personal assistance
- Pensioners with income support support or family unit
How to get a loan
Now let’s see what is the procedure to apply for a loan through the sale of the fifth: here are the various steps.
- The pensioner must make the request for the communication of the transferability of the pension, a document that certifies the maximum sum scalable from the monthly income: it must be requested at the INPS offices and presented in the bank or at the chosen credit institution.
- If the bank or credit institution has an agreement with the INPS, the transferability notification is made directly, thus skipping the bureaucratic procedure and allowing the pensioner to obtain more advantageous conditions.
- Finally, the loan contract is stipulated, which must necessarily indicate the sum obtained, the conditions regarding repayment (number of installments, monthly amount, etc.) and any additional information.
Of course, in these cases the obtainable sum is directly proportional to the perceived pension, since the time frame in which it must be repaid cannot exceed ten years.
Watch out for scams!
Pensioners are a ‘weak’ category not only because they receive a low income compared to other sections of the population, but also because they are often subject to numerous scams or scams. For this reason, it is highly recommended to go to credit institutions accompanied by a relative, friend or financial advisor; it is also good to read the contract carefully before signing any commitment, including the clauses, which sometimes hide pitfalls and scams.