In today’s article we will talk about how the teaching staff of the school can apply for a loan through the mode of transfer of the fifth. Loans through the assignment of the fifth are in fact one of the most requested products by workers to be able to receive money by relying on the role that the employer has in the contract, as he takes responsibility for the payments by the applicant, subtracting them directly from his paycheck and reimbursing them to the lender.
The loan through the assignment of the fifth, as we well know, is a type of financing not finalized, that is to say that there is no need for the credit holder to declare the reason why he made the request for this sum of money. By choosing this option, it is possible to receive a loan to be repaid from a minimum of 24 to a maximum of 120 months, where the monthly payment cannot exceed one fifth (twenty percent) of the value of the net monthly payslip.
It is not the applicant who will have to pay the monthly installment, but his employer directly through a series of deductions from the employee’s paycheck.
So let’s talk about a type of loan that can also be given to subjects who have been reported, who have had financial problems, have been foreclosed and placed on the list of bad payers. The teachers, therefore belong to the category of state employees, can therefore access this type of loan with ease, let’s see how.
How the faculty category can access the loan with the assignment of the fifth
As we have already mentioned, the working category of teachers, given that it falls within the state employees, can benefit from some very convenient conditions, as regards all the costs and rates related to this type of loan where the interest rates are applied are extremely downs.
Furthermore, for this category of workers, there is the possibility of being able to deduct, when necessary, a maximum percentage of 50% of their salary as regards the value of the installment to be repaid monthly, just request the assignment of the combined fifth to the proxy loan, a sort of double transfer of the fifth but with 10% more.
The loan through the assignment of the fifth is in all respects one of the financial solutions that has many guarantees. All workers as taught in state schools and all workers in public education, including school collaborators and secretaries, can use this type of service.
How to apply for the loan by transferring the fifth
The employee who intends to apply for this loan must choose a banking or financial institution that is able to bestow the transfer of the fifth. Once the loan amount has been decided, it will be possible to calculate how many installments will be included in the amortization plan.
The number of installments cannot be greater than 120 or less than 24. The age to be able to benefit from this service ranges from a minimum of 18 years up to 65 years, you must enjoy a permanent employment contract and in the event that if you have a fixed-term employment contract, the loan limit must be less than the time remaining for the expiry of the aforementioned contract.
Obviously it is necessary to present a documentation that provides in addition to an identity document also the tax code, the last paycheck received and finally a document certifying the service status.
The banking and financial institutions that provide these loans are usually affiliated with Social institute and foresee large reductions on the loan premium, on the rates and often and willingly offer very flexible products, designed according to customer needs.