COPY OF THE FIFTH INPDAP

With a maximum term of 120 months and a minimum term of 24 months, the salary-backed loan is a fixed-rate loan that was created in Italy and for Italy after the war. It is intended for public and private employees with permanent contracts.

Loans with “assignment of the fifth” are what these are known as, and the monthly payment is deducted directly from the paycheck up to 1/5 of the total, or net of other withholdings (such as alimony, other loans, foreclosures, insurance withholdings, etc.).

In the case of a loan with DELEGATION, also incorrectly referred to as a double fifth loan, it can be extended up to 2/5 of the pay; in actuality, it is possible to commit up to 40% of one’s salary with this type of loan.

Due to the fact that the loan is secured by a salary, the concession is not based on the applicant’s past credit history. Instead, due to the technical structure of the assignment, the employer, not the applicant, is responsible for repayment.

Request an INPDAP agreement loan

In reality, the employer is the one that makes the installment payment to the creditor by deducting the sum from the employee’s pay.

Since a few years ago, pensioners have also had access to salary assignments; however, the maturity of the loan cannot exceed 85 years old, and the number of installments cannot exceed 120. It is also always required to cover the risk of the insured’s premature death in the installment insurance.

Life and disability insurance must be mentioned in the contract by law.

Therefore, employment risk insurance will cover the loss of employment and establish a right of recourse against the debtor, up to the amount of accrued severance indemnity, which is actually set aside in the business or in a fund and is still available to the customer accessing the loan. The insurance coverage is only there to protect financial interests; it is not for the employee’s benefit. In actuality, the insurer steps in without any recourse to the client’s heirs in the event of an early death. The danger of mortality is the only mandatory insurance for retirees.

Suggestions and Opinions

The salary assignment is a beneficial loan since it has several advantages over traditional personal loans and the market currently offers rates that are quite competitive, which has never happened before.

The resolution is actually streamlined once the insurance banks have been contacted and the pay stub has been examined, but it must be kept in mind that all banks and finance companies conduct an analysis of the current commitments and in the event of other deductions, they can request additional suffrage documents. The line, however, remains that of never exceeding 2/5 of the p.

What papers must I present?

The documents that the Creditor Body typically requests depend on the worker’s category, but for the sake of simplicity and clarity, we’ve listed the standard and most typical ones here:

Identification documents,
a health insurance card, the most recent single certification,
the last three slips, and CU
Iban on letterhead from the bank where the pay or pension is credited (exceptions apply);
a user ID or proof of residency (in extreme cases, an electoral card, as the residence was previously mentioned)
family doctor’s name (only for insurance purposes);
documentation allowing you to return to work in the event of illness and any certifications;

At this link, you can learn more about the fifth’s assignment: More details regarding the fifth’s assignment