Personal loans: here's how to get them easily

Requirements

Each bank has specific criteria for evaluating loan requests, although all parameters taken into consideration must fall within the general regulations established by the Bank of Italy. Age: between 18 and 75. Income: must be demonstrable via a CUD (certificate of income) or pay slip . Creditworthiness : the loan applicant cannot be under protest. Other requirements: residency in Italy and current account. Necessary Documentation?

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In all cases, you will need to present an identity document , your tax code , and a copy of any other current loans . Additional documentation will be required to identify the customer and their employment and income status, and may vary depending on the type of loan, the institution providing it, and the customer's employment status. Specifically, self-employed workers will be required to submit their most recent tax return , while employees will need to submit their most recent pay slip and tax return (CUD ); pensioners will need to submit their pension slip . Cancellations and refunds?

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Once the loan is signed, be sure to repay it promptly ; if this happens, in addition to the risk of the customer being blacklisted as a bad payer, there is also the risk that the lending bank will decide to unilaterally terminate the contract , leaving the customer responsible for all costs necessary to recover the amount, plus a penalty. If, however, the consumer wishes to terminate the contract, they can do so based on the right of withdrawal governed by consumer credit regulations and the amendments introduced by Legislative Decree 141/2010. In short, withdrawal can occur within 14 days of signing the contract , without explanation or penalty, by sending a registered letter. The customer then has 30 days to repay any sums already disbursed and any interest accrued in the meantime. Early repayment is also possible with respect to the agreed maturity date, subject to a penalty that must not exceed 1% of the amount disbursed. Advantageous terms for choosing loans?

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To choose the most convenient loan, you need to evaluate your financial conditions, taking into account the overall cost. However, this is not a simple process; here are the two main factors you should consider before applying for a loan:

• the Nominal Annual Rate (TAN) : is the interest rate, expressed as a percentage and on an annual basis, applied to the financed capital which determines the interest portion which, together with the monthly capital portion, will determine the repayment instalment;

• The Annual Percentage Rate (APR) : is a measure, expressed as a percentage and on an annual basis, of the overall cost of the loan. Unlike the nominal interest rate (TAN), the APR includes any additional costs borne by the customer (for example, application fees).

In conclusion…

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Therefore, when comparing two or more offers, the APR is the best comparison tool, as it takes into account the overall cost of a loan, including all the additional costs typically excluded from the APR calculation. However, it's important to remember that comparing the APR between two or more loans is only possible when the conditions are the same (financed amount and term). It's useful to remember that, for the same financed amount, the APR decreases as the loan term increases, while, for the same term, the APR decreases as the loan amount increases.