The proxy loan is a non-finalized personal loan with a fixed rate and a constant rate . For this type, no specific reason for expenses is requested, and the sum is paid even if the user already has other loans in progress. The Loan with proxy is aimed at all employees and has characteristics similar to the Cession of the Fifth .
Loan with Delegation: the Bank solution
The bank proxy loan is the offer designed by the bank for all permanent employees, hired through a permanent contract. Also included in the catchment area are workers who have yet to extinguish previously lit loans and even those who are in the process of selling the Fifth.
Thanks to Loan with bank Delegation the customer has the opportunity to transfer his credit to third parties upon payment or for free, even without waiting for the approval of the debtor. This financial transaction can also use the methods that characterize the sale of the Fifth. Indeed, the salary is, in effect, a form of credit; therefore the worker can choose to extinguish the loan by transferring a portion of his salary to the bank.
Furthermore, the opportunity to renew the loan by proxy in advance is particularly interesting for the user. In this case the unpaid interest is recovered. bank will directly request the account for the early termination of the loan in progress and liquidate the financial counterparty through a bank transfer or by check.
Characteristics of the Loan contract with bank Delegation
The delegated loan provides for the interaction between three main subjects:
- bank : that is the bank that provides the loan
- The client / employee : that is, the person who assigns the rights of his salary up to one fifth to bank
- The employer of the customer / assignor: that is, the person who assumes the status of Third-Party Debtor, in the name of the assignment perpetrated by his employee in relation to the credits he claims on remuneration.
The main elements of the Loan contract are the following:
Duration: scheduled extensions may range from 24 up to 120 months.
Installment: sum that includes all the foreseen expenses and that can never exceed the threshold of one fifth of the net salary.
Insurance Coverage . According to the terms of the law, an insurance company, in agreement with the institute, provides a cover against the life risk and the different risks of use of the client.
Coexistence. The Loan with Delegation can coexist with other deductions in paychecks as long as the sum of the deductions does not exceed 50% of the net salary.
Renewals . A Loan with Delegation can be renegotiated in advance by recovering the interest not accrued.
Preliminary investigation . A branch consultant assumes the task of overseeing the whole phase of the preliminary investigation necessary for access to this type of loan.
Withdrawal method . The amount is paid to the applicant directly by the bank by check or bank transfer.
Considerations on the benefits of the loan
Summarizing the main advantages offered by the Loan with bank Delegation are many and useful for everyone. Among those already listed, the most attractive is the invariability of the interest rate and of all the features present on the contract: the installment always keeps the same amount becoming the most desirable solution for those who want a loan that does not increase with the fluctuations of the economic market. It is also the only possbanke alternative for those needing a sum of more than one fifth of their salary. As already mentioned above, in fact, the proxy loan may be associated with the assignment of one fifth of the salary, provided that the individual monthly installments do not exceed the threshold of 50% net.