Times to Get a Loan? Here are the 5 Points

The times for obtaining a loan with the transfer of the fifth are longer than those necessary to obtain a personal loan. This employee: – from the required documentation – from the parties involved (company, customer, financial, insurance). We will see below the 5 steps necessary for the provision of this loan.

Step 1 – Evaluation

The first evaluation is almost immediate. With the income data, those of the company or of the pension institution, personal data of the applicant, it is immediate the preparation of an estimate and of the relative model.

Estimated time :

  • 15 minutes

Phase 2 – Resolution

This phase takes more time, therefore longer than the previous one. Before the resolution of a transfer of the fifth or delegate payment, it is necessary to find all the useful documentation: – customer identity document – income documents (payroll and cud if employees, coupons and cud if retired) – salary certificate (if employees) issued by the employee’s administration (ie the private / public company) – ministerial models (for state employees) – transferable portion (if retired).

Estimated time :

  • salary certificate: from 2 to 12 days (depends only on the employee’s administration)
  • ministerial models: from 2 to 12 days (depends only on employee administration)
  • transferable share: immediate. This document is downloaded online

Step 3 – Approval

After the financing decision, we do not have to wait long for the return of the approval. The approval or better the act of approval is a summary document that the financial forward to the administration of the employee or pensioner to summarize the data of the signed contact. The administration will return this document by e-mail (certified e-mail).

Estimated time :

  • from 1 to 4 days (this phase is also linked to the collaboration of the client’s administration)

Step 4 – Policy

With the repayment of the loan contract, the financial company will require the insurance company to issue the policy or the accessory policies to the transfer of the fifth. Then life insurance policy and, for employees, employment policy.

Estimated time :

  • from 2 to 5 days (depending exclusively on the insurance company involved)

Step 5 – Extinction / Settlement

Once the insurance policy has been returned, proceed with the payment, but we must consider two cases:

  • A) the customer extinguishes a previous deduction on the paycheck or pension: in this case we speak of renewal of the assignment of the fifth. It is essential to close the previous debt before paying out the loan. This is possible only when the previous financial statement issues the extinction count (document indicating the amount still owed for the previous loan).
  • B) The customer does not have a transfer of the fifth to be extinguished: returned approval and policies, we are immediately activated for the provision of money.

Estimated time :

  • A) up to 10 days (these are the times that the previous financial year can use before issuing the requested document)
  • B) 1 day from the end of the approval and / or policies