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Sale of the Fifth: Installment Calculation, Rates and Reference Tables

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You have to solve some problems and you need a loan, but you don’t know how to do it? Do you think you want to apply for a loan with the transfer of the fifth?

Do you want advantageous rates, but don’t want to stress yourself out among thousands of paperwork? You can get the money you need thanks to the loan with the transfer of the fifth of the salary to Inpdap!

If you choose this payment method, you can offer your salary as a guarantee for your institution. With this guide of ours, we will see how to access it.

What is the fifth assignment?

Let’s start by explaining what it is when it comes to the sale of the fifth. It is called this because the monthly installment to be repaid is equal (and cannot exceed) to one fifth of the net salary.

Returning the monthly fee is quick and easy since the installment is charged directly on the salary or pension slip. The repayment of the installment is managed by the employer or the pension institution.

Difference between personal loan and salary-backed loan

personal loan

The personal loan must be repaid with a bulletin or by direct debit, while the salary assignment is paid with the salary or pension and the employer or the pension institution will take care of it. One less weight and one less deadline to follow!

This opportunity is reserved for workers with permanent contracts , who have residency in Italy and who are between 18 and 63 years old.

Retired people with no more than 85 years of age on repayment of the loan and with a pension higher than € 501.89 can apply for a loan with a salary-backed loan.

And the self-employed ? Self-employed workers cannot apply for a loan through the sale of a fifth since they do not have a fixed salary.

Loan: what it is and who can request it

Loan: what it is and who can request it

Public workers, public pensioners and their families can apply for loans thanks to this institution. There are two loans:

  • loans disbursed by banks and finance companies in agreement and therefore with former;
  • loans disbursed directly by the social security institution.

loans have convenient rates, but the possibility of requesting money is tied to the availability of funds made available by the institution. They can request them:

  • workers and retirees registered with the Public Employees Management;
  • those enrolled in the Magistral Assistance Management (formerly ENAM);
  • public employees and retirees of other administrations and registered in the Credit Fund;
  • the employees of the companies part of the Poste Italiane Group;

Retired former civil servants can also have a loan with a retirement pension .

Below are the different types of loans granted:

  • small Loan : a Small Public Loan Management ;
  • Multi-year Direct Loans: 5 or 10 year term, at 60 or 120 installments. With interest rate is 3.50%;
  •  loans for State Teachers : the former ENAM allows teachers and teachers to obtain a loan with a fixed rate of 1.50% and with a repayment in 24 monthly installments at most;
  • Guaranteed multi-year loans INPDAP : the financing for public employees provided by banks and / or financial institutions affiliated with the institution that acts as guarantor

How to request it?

What documents must I bring to apply for the loan with transfer of the fifth? Here’s the list:

  • Fiscal Code;
  • Last paycheck or pension slip;
  • Valid identity document;
  • Unique Certification for employees;

Thanks to the fifth assignment it is not necessary to request the signature of a guarantor: the guarantee is the same salary or pension. This financing formula allows you to request the loan even if there have been problems with previous payments.

It must be remembered that even if the assignment of the fifth is a strong guarantee we cannot give the certainty that Inpdap consents to the request, especially if it has been insolvent previously.

With a fifth assignment it is easier to get a loan, especially if there have been previous problems with payments. The request procedure will be checked and only after the approval, will the entity provide the sum.

Rate, interest and time

Rate, interest

This formula allows you to have fixed- rate installments, and the repayment of installments takes place by direct debit on your paycheck or pension. The sum can be repaid up to a maximum of 10 years and the loan can be extinguished in advance without penalties.

It also allows you to have both and the low.   The TAN is the interest rate and the APR is the synthetic total cost index of the loan in which the different fees to be paid are found.

To know the costs you can make a quote, which is not binding and is completely free and allows you to get an idea about the interest rates and the installment to be repaid each month.

An appointee will be in charge of indicating the timing of the loan with salary-backed transfer with Inpdap. We would like to remind you that times may change from case to case as the applicant’s financial situation affects waiting times.

Allows you to request a quote online and also to start the loan request directly on the site. In the event that the applicant’s situation is sound and the institution has the necessary money, online loan applications help to get money in a few hours (on average 48 hours).

If you have any doubts about the loan with a transfer of the fifth Inpdap you can go to a venue or read all the information modules made available on the official website.