Getting a loan today is a real undertaking. It is difficult to obtain it even if solid guarantees are given. Let alone for those who have an extra difficulty, or are not Italian citizens.
In reality, access to financing is allowed both to EU citizens (Spanish, Romanian, French, etc.) and to non-EU citizens. There are “sine qua non” conditions. Being an Italian citizen or having a regular residence permit is not enough.
You must demonstrate that you have an adequate income (which also means without a paycheck, but as long as it is demonstrable income) and in addition, for non-EU citizens, possession of a permanent contract for at least 6 months is required as a requirement, stability index.
The most common types of loan for foreigners
For reasons of security and further guarantee, the most considered loan formula in these cases is the assignment of the fifth. The reason is linked to the fact that the loan installment is retained upstream by the employer, directly on the paycheck.
The same goes for proxy loans. In this case, the withdrawal takes place directly from the current account. The main difference between these two types is related to the deductible amount. In the case of the assignment of the fifth (as can be guessed from the name), a maximum of one fifth of the salary is withdrawn, which can reach 40% in the case of the delegated loan.
There is also no lack of forms of support for foreign students who come to Italy to attend university courses and who have access to subsidized loans (see also Quick-change loans). Banks usually favor students with merit.
Finally, for those who comply with the various requirements, classic personal loans are also available, from those of the Italian post office, to those of banks or financial companies also online.
Let’s see together what the market offers in this sense
- Spin Lender offers access to directa loan to all EU and non-EU citizens. This form of financing allows you to request up to 30 thousand USD without having to justify the request. All at a fixed rate and with fixed monthly installments. The duration of the loan is linked to the figure but in any case the return is expected after a maximum of 84 months.
- Lite Lender Company, with its Mycredit Lender personal loans, allows foreigners to have access to substantial amounts (up to 75 thousand USD) with a duration of up to 120 months. The loan is also flexible, allowing two installments to move along the capital return path and quick with a very fast disbursement. In his favor there are also very low preliminary costs.
- The finance online proposal is also interesting. Up to $ 50 thousand can be granted, in different forms: assignment of the fifth, delegation loan or personal loan. Installments and rates remain fixed for the duration of the return which takes place within a maximum period of 10 years. No specific reason is required for applying for funding.
- Another important credit institution, Capital Lender (see also Transfer of the fifth Capital Lender), offers several possibilities at fairly accessible rates without being too meticulous about the guarantees required from the foreign contractor.
- Saverhand Bank also offers several opportunities. Foreign citizens have access to the assignment of the fifth, delegated loans and personal loans. For the assignment of the fifth apart from the usual general rules, Saverhand Bank offers up to a maximum of 50,000 USD with deduction from the paycheck implemented by the employer or by the body that pays the pension (in the case of pensioners).
In short, contrary to what one might expect, the possibilities of obtaining financing for foreign citizens are not lacking and are varied (see also Loans without paychecks), in some cases equal to those defined by common personal loans. There are small additional clauses but if you have a fixed income there are no other major obstacles.