How to apply for a loan? A practical guide on how to evaluate the different options

In a time of economic crisis like the one we are experiencing, many Italians need to use a loan to meet different economic needs . But how to apply for a loan?

There are several financial agencies that offer this service and to consult different ones it allows to request the loan closest to the needs that arise; need of liquidity, purchase of material goods or other expenses to be faced, there is a solution for every need.

Individuals who can present solid guarantees, such as a pay-slip, are more likely to receive the loan

Individuals who can present solid guarantees, such as a pay-slip, are more likely to receive the loan


On the other hand, you do not have these documents, you can evaluate the possibility of submitting a request for the type of loan created for younger age groups, where you do not need to have a permanent job, although you still need a job at the time of the request.

Do not be discouraged if an agency rejects our request for funding and it is appropriate to try in another institution; this is because each financial agency owns and applies different requirements based on which to accept or reject the request for funding (forwarding more requests will also allow us to evaluate the one closest to our needs).

Two important factors to consider when evaluating the best loan

best loan

The first is the interest rate that must then be paid to the lender, while the APR is a percentage that expresses the total index of the cost of the loan calculated based on the amount of each installment and the duration of the loan. Above all, it is advisable to evaluate the percentage indicated by the APR before defining the required loan.

To evaluate the various proposals of the various funding agencies, it is possible to go to the nearest branch of the chosen agency and speak directly with the operator to whom to explain our needs; alternatively, online, it is possible to consult the various offers proposed and evaluate the solution closest to our needs through search engines.

Some of these search engines offer different offers and compare different results that allow us to evaluate the best offer among those offered. Applying for a loan is not at all complicated and today it is possible to choose, among many proposals, the one most suited to each of us.

Office Loan: Opinions and Guarantees Required to Access It

Looking for information on the loan and you need to know what can be done to get it? Interested in learning about the different options available to you?

Reading this guide on what to do to receive the loan with this institution, you will find out what are the different steps to follow and you will also get some useful advice.

Here’s what to do, read on.

How to get a loan 


Also allows online loans to be requested, but the most reliable request method is in a branch. If you want to know the interest rates and the average amount of the installment to pay before applying for the loan, you can get a quick quote on the site.

Enter your details, the amount you need and the number of installments and you will discover the interest rate and the monthly payment. The estimate is used to orientate and both the installment and the interest may vary slightly at the time the loan is requested.

The data must be added in the specific form, we remind you that the estimate is free and is not binding. Remember that if you choose a lower installment they will increase the months needed to repay the amount and consequently the interest rates will also increase.

For this we remember to carefully evaluate the duration of the payment of the installments in order not to see too much money vanish in interest. To find out in detail what the many features of the Banco Posta loan are, you must request an appointment at the branch.

The Loan gives access to a loan from 3,000 to 30,000 euros with repayment times ranging from 24 up to a maximum of 84 months. The loan can be requested at any post office.

You can either request an appointment or go directly to a post office for information.

The guarantees required for the loan

Also for a loan, as for bank loans, there are guarantees to bring.

They are the same for everyone, even for those who are marked as bad payers or for those who have been protested. The mandatory guarantees to apply for a loan are the following:

  • the pension : which influences the duration and the number of the installments according to the age of the subject;
  • the pay slip : which allows one to obtain loans at advantageous rates;
  • salary-backed salary : which also helps bad payers or those who have been protested to have a loan. In this case the sum will be withheld from the salary or pension each month. Often the assignment of the fifth gives advantages and allows to have reduced interest rates;
  • the guarantee of a third party : which will be a guarantee. The third party can become the person responsible for the reimbursement of the sum instead of the applicant and can be a friend, relative or parent.

What you need to get the loan


Even to obtain the loan it is necessary to provide certain documents such as:

  • A valid identity document;
  • The pay slip, or the pension or the last tax return (only necessary for self-employed workers).

We remind you that these documents are necessary for everyone so even for those who have been protested and/or for those who are on the list of bad payers. You must not bring other documents. 

Times to get the loan

For a commonly requested online you can have the money in about two days. Self the loan is requested directly at a branch of the Post Office, it will be a person in charge of indicating to the applicant the average waiting time to have a loan on the account.

It must be remembered that each case is different and that waiting times such as interest may vary.

Interest for the loan

Interest for the loan

As anticipated, interest may vary depending on the case. To know the interest rate you can make an online quote. If you prefer, you can also request a quote at the branch.

We remind you that the quote is free and that it is not binding. The budget helps you to know the TAN and the APR, then the interest rate and the synthetic total cost of the loan with the cost of the commissions.

Checking the TAN and the APR helps you choose the lowest ones and fit your needs. We advise you to do a research to compare the various interest rates and choose the most suitable ones for you.

And the subjects protested?

It is not certain that will grant the loan if you are protested or if you are on the list of bad payers. To find out if will approve your request, you can only ask for an appointment at the branch.

A person in charge will assess your specific case and decide whether or not to carry your file. What can you do to facilitate your loan application? You can offer a fifth of salary guarantee.

Generally, it is a guarantee that helps to get a loan even those who are on the list of bad payers or those who have been protested. The fifth assignment helps with repayment plans of up to 10 years and often allows for low-interest rates.

Loans for temporary workers


In general, both banks and credit institutions allow temporary workers to apply for a loan. Temporary workers have a few more constraints than permanent workers.

If you have a fixed-term contract and need a loan, you will need to ensure that the number of installments does not exceed the months of the contract you have left to work.

The additional conditions to be respected are the same as those for permanent workers.

Scams Personal Loans: How to Identify 2017 Criminals

Are you also afraid of the scams Personal Loans Scams ? I will briefly explain to you how to avoid them, and which methods are effective so that you cannot be fooled.

The scams over the years are multiplying more and more, some time ago another scam occurred in Sardinia . Always with regards to financing, this time without a pay slip.

Scams personal loans: how to recognize scammers

personal loans

Scammers immediately recognize those who need immediate money , therefore they take advantage of mental weakness, for those who need immediate liquidity, and invite you thanks to very attractive proposals.

At first they explain to you what personal loans consist of, and only after they invite you to pay a sum in cash , with the excuse of facing administrative costs or the need to move money abroad.

Subjects easily attacked

Subjects easily attacked

These impostors pretend to be commercial agents , generally the victims most affected are those who seek loans without guarantees or those who are protested or classified as a bad payer.

Pay attention to online financial scams . The deception takes place at first with an email you receive , in which they invite you to request money on loan easily , quickly and without too many documents .

Personal loans: get up to € 60,000

Personal loans

If you answer and send the documentation , the bad guys will steal your identity. In this way they will simulate other quotes from other financial institutions, requesting a well-defined capital, and you will find yourself having to repay money never used.

Articles that could be of interest to you : Financing between two individuals / Money for those who do not work / All about who is reported to the Crif

Irremediable damages

Irremediable damages

Unfortunately, the trouble does not end there. In fact, if the scammers managed to get hold of your identity, the fact remains that they will be able to open current accounts , enter into contracts, request loans. Later you will be in trouble , and you risk being reported to the CRIF.

Another situation even more terrifying, as has been happening in recent times in China, is blackmail . Real money-lenders of the web / criminals, who especially young students ask for nude photos and then lend money.

We are not talking about the reimbursement almost impossible , as the criminals ask for 20% to 30% of interest, and if there is a small delay or non-payment, the photos are put into the whole network in a few minutes, ruining the image of the person .

How to avoid online scams

How to avoid online scams

In short, in order not to be scammed with financing, I suggest you:

  • Do not open unknown emails without having requested them;
  • Always make sure that the site where you enter the data is official;
  • Check the financial institution if it exists and has a registered office;

In case you are connecting to a supposedly reliable website, before entering the bank details make sure that the protocol prior to “www” is HTTPS and not simply HTTP.

Report it before it’s too late

Many scams on loans also take place on Facebook, in any case I advise you to report the incident via the service of the State Police .

This is one of the cases in which to apply for a loan is not worthwhile, for this reason I repeat that you pay attention to who you rely on, and make sure that it is really a banking intermediary.

Pension loan or early retirement: the novelties 2014 to the government study

With the beginning of 2014, and after the official entry into force of the requisites dictated the pension reform, we are again talking about flexibility regarding the social security system. And in particular, the “pension loan” hypothesis re-emerges. Let’s see what it is.

A loan as an advance on the pension

A loan as an advance on the pension

The Minister has repeatedly expressed the intention of introducing a mechanism, alternative to early retirement, which allows the worker to withdraw from the activity even before having reached the necessary requirements. Already last summer, the minister had formulated the idea of ​​basing this mechanism on a loan : the worker who is only a few years away from retirement could begin to collect a check equal to a certain percentage of his salary (the hypotheses speak of a 80%), which would be paid, possibly with the contribution of the company to which it belongs.

Upon reaching the requirements in force, he would then begin to receive the pension regularly


From which a percentage would be deducted (10-15%) to return the amounts previously received. “The mechanism we are working on – specifies during an interview- also involves the involvement of companies as well as the worker and the state. It is also a financially difficult operation to design”.

In any case, this would be a system in place for the private sector and based on a voluntary choice by both the worker and the company. At the beginning of the year, the government’s agenda is full of commitments to the work chapter, and it appears that the pension loan will be the focus of discussion.

To evaluate the costs of the solution for the state coffers, together with the potential group of workers and companies interested in activating this possibility. Already today, the minister of labor observes, there is “a mechanism that through union agreements allows early retirement with payment by the company of a substantial share of the pension gap. However, this tool can only be used by large companies. But also “could have the interest to give a slip to the workers, above all in those sectors where advanced age can even involve risks for the type of activity carried out”.

How to consolidate student loans

When it comes to student loans, the landscape has certainly changed. Lenders that were important players in the game have disappeared and the rules governing consolidation are no longer the same. Is consolidation right for you? The answer may not be as easy as it sounds, but we hope we can help you navigate those waters. The average student loan debt in this country is around $ 23,000, and only about 19% of 2009 graduates are employed at the time of graduation.

What does student loan consolidation mean?

student loan consolidation

Consolidating student loans basically means joining multiple student loans into one. You can also consolidate a student loan if you wish. The advantage of loan consolidation is that instead of making multiple monthly payments, this payment will be consolidated into one, and the payment should be significantly lower. So you would think that student loan consolidation is child’s play, right? Well, it’s a little more complicated than that.


First, there is a short list of requirements that must be met to qualify for student loan consolidation.

  • You can no longer be “enrolled” in school. This means no longer taking lessons, or less than half the time (usually six hours per semester, depending on the school).
  • You need to be actively paying off your student loans, or if not, they need to still be in their “grace” period. This is the several months following graduation.
  • For the most part, you must have at least $ 10,000 in student loans.

Federal and private

There is also the distinction between the types of loans you have. There are federal student loans and private student loans. The differences are important.

If you have both, you should never consolidate federal and private loans together. They are separate animals, so to speak, and you shouldn’t try to combine them. And in general, the consolidation of private loans can be difficult, and may not even make sense. There are actually only about four lenders who actively participate in private student loans. If you decide to consolidate, keep in mind that the lender sets the rate and that the credit score will play a role in determining this rate. This is not the case with federal loan consolidation. Check every single detail and every small footprint before moving on, and also remember that many times there are additional costs for consolidating private student loans.


However, there are many advantages to consolidating federal student loans. You will only have one monthly payment for a financial institution. And you should be able to reduce your monthly payment. With the consolidation of the federal student loan, the interest rate will never be higher than 8.55%. And it will be a fixed interest rate. You may also be able to extend the repayment period if you wish. Many lenders also offer a life loan service, which means that they never agree to sell the loan. And, in some limited cases, you could benefit from additional benefits for the borrowers, such as the reduction of payments by automatic debit and the consecutive reduction of payments on time.


There are other things to consider before going with a consolidation


If you decide to “extend” your repayment period, you may end up paying more interest on your loan depending on how long it will take to pay for everything (despite the potentially lower interest rate). And, although I have just said that consolidation can qualify you for certain benefits, many benefits could disappear. Usually, there is no grace period involving consolidated loans, and the deferral may not be an option. Some discounts may not apply to you too. As with anything, it’s important to read the fine print and ask the right questions before moving on. Please also note that if you decide to consolidate, once completed, it cannot be canceled.

The process

I could simplify the process a bit, but here are the steps to take to consolidate your loan.

  • Collect ALL the documents. This includes all loan records, account statements and invoices.
  • Calculate your potential consolidation rates with an online calculator.
  • Contact existing lenders to discuss consolidation and get offers.
  • Compare.

My thoughts

First, if you have private student loans, I might not even worry. You can examine it, but it may not even be an option, considering that most lenders are not even in that game, and it just doesn’t make sense to do so.

Secondly, one of the most important advantages I have seen with consolidation is the possibility of converting a fixed-rate loan

Secondly, one of the most important advantages I have seen with consolidation is the possibility of converting a fixed-rate loan

If your loans currently have variable interest rates, I should definitely try to consolidate them.

Furthermore, this may seem difficult to digest, but I would just like to consider consolidating student loans if you are looking for a long-term solution to your finances. If you are only looking for short-term relief from your student loans, you might consider solving the problem or exploring other options. The repayment period for most student loans is quite long; I will be careful before extending it again.

If you graduated in the last six months, consolidation could be perfect for you. During this period, the chances of getting a lower interest rate are probably higher and most creditors will not force you to repay.

Finally, never ever pay a fee to consolidate federal loans. Once you’ve done your homework and made your decision, go to FinAid to start the process. As usual, there are a thousand sites out there that will try to convince you to give them your money to do it, but the process is 100% free.