Public or private employees are those who, more than anyone else, can aspire to obtain a loan on particularly advantageous terms. As we well know, in fact, banks and financial companies usually provide loans to those who have solid income guarantees. Precisely for this reason, an employee’s paycheck represents the ideal starting point for obtaining particularly favorable interest rates and disbursement conditions.
In this period, then, the interest rates are particularly convenient and you can really get a loan on unthinkable conditions even just up to a year ago. A not insignificant advantage if you are in the position of having to access the income to finance your project or to face some sudden expenses. Below you will find all the information necessary to obtain a loan at very advantageous conditions.
As we all know, employee loans are linked to the paycheck. Regarding the documents necessary to request these products, therefore, we can begin by saying that the documents required by banks and financial companies are as follows:
- last paycheck;
- identity card;
- fiscal Code;
In some cases, lenders may also request an updated bank statement. For this reason, if you need a quick loan, I recommend that you have an extract from your bank account with you and present it on request so as to speed up the disbursement times.
How to calculate the installment
To calculate the installment of your employee loans, you can always use one of the many “installment calculation” tools that can be found online. These are very simple tools that allow, already knowing the amount paid and the interest rate, to be able to deduct the monthly installment that will be paid.
There are only 2 problems using these online tools:
- you need to know the taeg;
- you need to know the amount that the institution will pay;
In both cases, these data are not always easy to obtain because they can only be released by the lending institution which will provide the loan. In fact, each bank or financial company applies different conditions and it is not always possible to know all the details in advance.
For this reason, if you want a slightly more accurate calculation of the installment, I recommend that you get a quote directly from the lenders who will tell you exactly if they will provide the financing and the conditions under which they will do so. In this way you will have a precise and official calculation of how much you will have to pay.
From the point of view of disbursement conditions, civil servants are slightly more advantaged as their income is considered the safest ever. Loans for state or public employees in general allow access to credit even if other loans are already in progress and even if you are reported as bad payers.
Income is considered so safe because it is paid out by an entity that depends on the state or another public body and, therefore, it is considered not to be at risk of bankruptcy. This allows obtaining loans for civil servants on very advantageous terms at all the major lenders.
The difference between public and private employees is very subtle. In many cases, loans granted to employees of private companies may be more advantageous because, as we have said, the bank always makes an objective assessment of the applicant’s situation. One of the few differences between public and private employees is that for the latter, the bank also makes an objective assessment of the company of which we are employees.
Precarious employees. Finally, it seems right to us to spend a few words for the many workers who are forced to work in precarious conditions. For precarious employees, i.e. those without a permanent contract, there are several possibilities. First of all, we can say that some rules that we have already said for personal loans without a paycheck apply. The first solution is to request a loan that can be paid off within the expiry of the employment contract.
In this case, however, you will be limited to small loans. Alternatively, you can use a guarantor (perhaps a parent) with a paycheck or a retirement pension. Another solution is to use the formula of loans between individuals that we have already told you about on several occasions.