Personal loans: what they are and how to apply for them
Loans to individuals can be of different types, and usually they are divided into personal loans, assignment of the fifth and finalized loans.
Personal loans can be used to cover sudden expenses, or to pay for children’s studies or dentist’s expenses, but also for any other type of purchase.
To request them, you must provide your credit institution with your tax and income documentation.
The customer can choose the amortization plan more in line with his needs and, in the event of a positive outcome of the investigation, return the amount financed in a certain number of installments, corresponding to the duration of the credit.
The assignment of the fifth
The assignment of the fifth is a different form of financing than the personal loan directly related to the availability of a salary or pension.
To apply for a loan with the assignment of a fifth of the salary or pension, you must be a public or private employee or be a pensioner. The documents to be provided to the financing company will always include the latest paychecks or the pension slip.
The repayment of the funded sum takes place, as a rule, through the direct withdrawal by the institution of a sum of up to 20% of the salary or pension paid.
The convenience of consumer credit
Consumer credit is a form of financing highly appreciated by consumers, because it allows you to make purchases even of a certain importance with the peace of mind of being able to pay the price of goods little by little.
Cars, motorbikes, furniture or stereos: purchases for the whole family can be made easier, thanks to consumer credit.
Specifically, Lite Lender Consumer Bank has developed important partnerships with some prestigious Italian brands, to offer the public advantageous loans precisely for this type of purchase.
How to apply for an online loan
Through the appropriate section of the lender’s website (can be visited here), it is possible to request loans at advantageous rates in a short time.
The procedure is very simple, and allows the customer to customize the financing according to their needs. Once you have entered the amount you wish to borrow, in fact, you can choose the amortization plan from several options.
Therefore, the customer chooses the duration of the loan and the number of installments to be repaid. The amount of the latter, as mentioned, will also include the amounts relating to the interest accrued and the expenses to be paid to the bank.
In this regard, the customer has the opportunity to evaluate the TAN (Nominal Annual Rate) and the APR (Global Effective Annual Rate).
Finally, for personal online loans, the customer is also offered the possibility of activating an optional insurance contract that protects the credit in case of unwanted events, such as accidents, illnesses or job loss.