The loan with the assignment of one fifth of the salary is a type of loan that provides for the payment of a sum of money for which no justification is requested on the use that is intended to be made of it. The only guarantee required for the provision of this type of loan is the stability of the workplace .
The installment is, in fact, charged directly on the pay slip or pension
Therefore, it will be the employer or the pension institution that will withhold a fifth of the salary (20%), which will be turned over to the financial bank by means of a monthly transfer.
The loan with the assignment of one fifth of the salary can be granted to workers with a permanent contract of private companies, to state and public employees, to doctors having an agreement, to pensioners. On the other hand, workers with fixed- term contracts and self-employed workers remain excluded from financing, at least for now.
The advantages of the loan with the assignment of the fifth of the salary are manifold
First of all, it is not necessary to engage in the difficult search for additional guarantees such as, for example, guarantors or mortgages. Furthermore, the credit institution will not have to sift through the financial situation of the applicant; precisely in this sense, only in Italy, credit can also be granted to those who have already protested or have other outstanding payments.
The installments can be extended up to a maximum period of 10 years, a condition that allows the disbursement of a considerable sum (from 3,000 euros to around 60,000 euros) against modest monthly installments and decidedly affordable interest. Moreover, with this system, there is no need to worry about the monthly payment of the installment, since the withdrawal is made directly at the source, and there is no risk of encountering the risk of insolvency, due to possible omissions.