Lately banks have been proposing numerous advertising campaigns in favor of loans to pensioners.
The relative ease with which this category can make use of a loan is linked to an ever-increasing increase in inflation, with a consequent cost, and to the fact that, having a fixed monthly income, the pensioner becomes one of the privileged subjects to be subjected to media hammering in this sense.
The transfer of the fifth is the system that allows pensioners of any social security institution to obtain a loan, returning the capital obtained through the payment of a sum not exceeding 20% of the pension, which is monthly decreased by one fifth of its value. The maximum repayment duration is 120 months.
Unlike consumer loans, the sum disbursed is not aimed at the purchase of a particular good or service and therefore it is not necessary to justify the destination of the credit.
The pensioner financing institution must not assess the financial situation of the applicant and his family members: the transfer of the fifth is a single signature loan which, in addition to the pension, does not provide for additional guarantees such as mortgages, signatures of relatives, guarantors or guarantors. On the basis of these premises, this loan can be granted, subject to the creditor’s approval, also to protested or bad payers: the pension is in itself a valid guarantee against the risk of insolvency on the part of the debtor.
This loan is attributable to secured loans; in fact it is covered by a life insurance policy: the repayment installment is paid until there is a pension, or until the beneficiary is alive; otherwise, to cover the debt, insurance takes over.
The transfer of the fifth is an effective solution to deal with any financial problem. Also, protected by your pension manager, the borrower does not run the risk of running into unpleasant surprises.
The simplicity with which a loan is generally granted, however, must not make us forget the actual amount of a debt that, regardless of the sum paid, must always be extinguished.
Before carrying out this operation, which is not repeatable, it is necessary to carefully evaluate its real necessity.