Are you a pensioner and need liquidity? Here’s what you can do

28 February 20242 months ago babelfish

For retirees , finding appropriate financial solutions to meet liquidity needs can be a challenge. In fact, most loans provide that the maximum age for accessing the loan is 75 years.

Are you over 75 years old and are you having to face unexpected expenses or would you simply like some liquidity to carry out a project or help a family member? In this context, salary-backed loans emerge as the most valid option. Naturally, this solution can also be requested by younger pensioners, as well as by employees, both public and private, with a permanent contract. In this article, however, we will focus on the salary transfer for pensioners .

The ideal liquidity loan also for pensioners

The salary-backed loan for pensioners is designed to be flexible and accessible , allowing pensioners to receive a sum of money to be repaid through monthly installments that are deducted directly from the pension . Another advantage is the possibility of obtaining funds without having to specify the purpose of the loan , thus offering great freedom on how to use the sum, because the transfer is one of the so-called non-finalized loans. It can be requested up to the maximum age of 85 .

Salary-backed loan: the tailor-made financial product

The salary-backed loan is a form of financing that allows you to obtain a repayable loan through a deduction that must not exceed 20% of the net monthly pension . This limit, known as the " fifth ", guarantees that the loan installments are sustainable and not excessively burdensome on the applicant's income.

For pensioners, the salary-backed loan presents itself as a particularly advantageous solution thanks to the INPS agreement which allows access to subsidized rates , lower than those of traditional loans. The terms of the loan are flexible, with the possibility of extending the duration up to a maximum of ten years .

Advantages of salary-backed loans for pensioners

Other advantages include:

Fixed rate for the entire duration of the loan : the loan installment is fixed and does not vary over time
No guarantee or guarantor required, unlike other types of loans (e.g. mortgage or personal loan)
Insurance included : insurance coverage is always included in the monthly repayment installment which is activated in the unfortunate event of premature death of the insured, to fully cover the residual debt. This is a fundamental guarantee to protect your heirs
Possibility of renewing the loan to obtain further liquidity , after having paid at least 40% of the original transfer or at any time for transfers lasting less than 60 months. In this case the new transfer must have a mandatory duration of 10 years. This operation can be useful for renegotiating the conditions of the loan and lowering the monthly repayment, compatible with your needs for new liquidity
Possibility of repayment , even partial , at any time to recover unmatured interest, thus reducing the overall cost of the loan
Minimization of the risk of insolvency , thanks to the particular repayment method

We can conclude that for pensioners looking for liquidity, salary-backed loans are a valid and flexible option, with notable advantages compared to personal loans . The salary loan is a safe and sustainable solution, which allows you to obtain a loan tailored to your needs.

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The article Are you a pensioner and do you need liquidity? Here's what you can do comes from Economic Scenarios .

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/sei-un-pensionato-e-ti-serve-liquidita-ecco-cosa-puoi-fare/ on Tue, 27 Feb 2024 23:01:37 +0000.