The audience of loans has become ever wider, with an offer that is now tailored to every need: from purchasing the car, to weddings, passing through those who do not have guarantors or need to see part of their salary in advance. They can thus be distinguished by type based on the financial need they are going to satisfy.
Loans finalized and not finalized
A first macro division concerns the finalized and non-finalized loans. The latter are in particular personal loans for which a need purpose is not foreseen. The sum is not, in fact, tied to the purchase of particular products or services, but can be used by the applicant in total freedom and without restrictions. A personal loan foresees sums does not exceed 60,000 dollars. Among the non-finalized loans is also the assignment of the fifth. It is a form of loan in which the individual installments (which cannot exceed one fifth of the monthly net salary) are withheld directly from the applicant’s paycheck or pension. This type of loan is suitable for civil servants, private individuals even for a fixed term, and for some time also for pensioners.
Looking instead to the finalized financing, we have the home loan that allows you to request sums for the purchase of furnishings, the maintenance or renovation of the house and facilities or the restoration of furniture or furnishings. They do not involve notary fees and can cover the entire amount foreseen. Car loans are also aimed at those who want to buy a car (new or used) or any other type of vehicle, such as a motorcycle. The repayment of the loan can last up to 10 years and the installment is constant. Tailor-made for those who need to get married is the wedding loan which is divided into two types: the personal loan for the wedding which usually has a higher cost than the finalized loan, but allows greater freedom, and the finalized loan for the wedding granted directly by the shopkeeper where a certain service is purchased (for example,
Urgency and consolidation
For a last minute urgency there are then the “payday loans”, payday loans, are a particular form of loan through which a financial company grants a small short-term loan to the applicant and this financing it is then collected on the day the applicant receives the salary. For those with several outstanding loans, however, debt consolidation is recommended: a useful solution to consolidate them at the same institution with a single monthly installment.
Loans without guarantee and without guarantor are, then, those personal loans tailored to those who cannot offer, as a guarantee, to the bank or the financial provider, a paycheck or a cud or a concrete reference income. Still in the absence of guarantees, there is an unsecured loan, which is a type of loan that is based on a written obligation of the debtor who is liable for his obligations with all his assets, both present and future.
If you are over 60 or a bad payer
There are also some financial companies that issue loans to bad payers. But these loans are usually small in size, and have high rates. Lastly, the mortgage loan is a loan reserved for the elderly over 60 who have a property right on a house or residential property. It is guaranteed through a mortgage on the home. In Italy it is an alternative to the bare ownership of the property.
A final macro typology concerns companies (or loans to businesses or loans to entrepreneurs) which are divided into venture capital loans: equity capital. And credit capital financing: third party capital (such as banks, suppliers, entities).