Subsidized Loans for Civil Invalids
Guide to Subsidized Loans for Civil Disabled Persons: can they be obtained? How to do it and which banks grant it?
There are several challenges that those with disabilities face every day, and being able to find the right loan is one of these, also because there are not many products dedicated to disabled people (but something is moving).
In this guide we want to go to see what are the opportunities to obtain subsidized civilian loans and, consequently, how to have a sum of money available to meet every need.
Social Security subsidized loans for civil disabled
First of all, let’s look at what Social Security has to offer.
To date, the pension institution has no subsidized loans for disabled people, but only offers concessions which, however, can be useful for the purpose:
- disability allowance for disability rates starting from 74% and up to 100% (total disability);
- exemption from the health ticket
- tax breaks
- or the registration in the job lists of employment centers for facilitated hiring.
One of the questions that often arises is whether you can have a assignment of the fifth with the disability check.
Fifth assignment for civil disabled
It is not possible to have a assignment of the fifth with the disability check.
This is because the amount of that check, by law, must be spent on buying things that are useful for the disabled, and a loan is not among them.
Therefore, the amount of the disability allowance is excluded from the transfer of the fifth Social Security.
The situation is different if the disabled person also has a retirement or old age pension.
In this case, in fact, the request for assignment of the fifth can be made by taking advantage of the economic coverage guaranteed by the pension.
However, attention must be paid to insurance, which is compulsory in the case of transfer of the fifth.
Civil disability loan insurance
As we said, insurance is mandatory in order to request a transfer of the fifth.
The insurance company, in fact, guarantees the full repayment of the loan in the event of retirement of the pensioner, precisely so as not to burden the debt on the family.
Having a civil disability can greatly increase the risks borne by the insurance, which therefore may not grant its insurance coverage, and in this case it is not possible to request a transfer V.
For this reason, before applying, it is always advisable to check with your insurance company, if you can have coverage for your specific case, or not.
If you don’t have preferred insurance, you can go directly to the bank or financial company where you intend to apply for the loan and apply directly to them.
Facilitated loan for disabled civilians, how to apply for it and characteristics
Once you have the certainty of being able to apply for the loan even if you are a civilian disabled, all you have to do is apply to the bank or financial company.
Best Bank offers interesting loan solutions, as well as Cream bank. Lite Lender, on the other hand, proposes the “Loan Without Barriers”, while the Italian Episcopal Conference proposes the so-called “Loan of Hope”.
The application can also be made online thanks to digitally signed loans, so the procedure is also faster than the classic one.
The characteristics of the loan granted to are the usual:
- possibility of reimbursement by debiting the installment from the bank or post office account, or if assignment V on the pension;
- also obtainable from pensioners up to 90 years ;
- the installments are at a fixed rate, so as to allow the organization of the budget at best;
- no external guarantor must be provided;
- the loan is usually made very quickly;
- if you request a transfer of the fifth for civil disabled, you can also ask for loans to protestors;
- Depending on the case, 100% or full civil disability loans can also be applied.