Buying furniture items often means putting onerous figures. This is why there are loans for furniture, targeted products made available by various credit institutions. Let’s see the most convenient on the market.
Fine Bank loan for furniture, how it works
Let’s start talking about furniture loans by presenting a well-known solution, namely the Fine Bank product. This finance company allows you to request sums of money to purchase furniture items by submitting the application directly online. To do this, simply upload your income and identity documents online. In less than 48 hours you will receive an answer on the feasibility of the operation.
Loans Fine Bank furniture and furnishings: a simulation
An advantage of Fine Bank solutions consists in giving the immediate possibility to understand to what extent a product is convenient. That’s why it is useful to do a short simulation of loans for furniture and assume the request of $ 16,000. By entering this figure and specifying ‘furniture and furnishings’ as the purpose, we are faced with various proposals.
The first is a 96-month loan with an economic commitment of $ 299.90 per month. The fixed TAN and the APR are equal to 8.45 and 8.78%. Other proposals include the 84-month loan, which would include an economic commitment of $ 253. Also in this case the TAN and the APR would be equal to 8.45 and 8.78%.
Social Institute ex Government Agency multi-year loans: how do they work? Who can request them?
Social Institute also offers loans for furnishings. Specifically, these are direct multi-year loans, intended for members of the Unified Management of credit and social benefits, be they workers or pensioners.
These loans, which can last from 60 to 120 months, are dedicated to those who need to bear important expenses for personal or family reasons. In this category, as evidenced by the official Regulations, it is also possible to include the purpose of purchasing the furniture of the rented or owned house.
Various documents must be attached to the loan application. Which exactly? The family status, the document showing the ownership and the rental of the house, the cost estimates for the purchase of the furniture, the invoices dedicated to them, the substitutive declaration of a notary deed, the medical certificate. The medical certificate is required for any purpose other than that of the health sector.
Multi-year direct loans Social Institute ex Government Agency: what to know about the rate
We conclude this short guide dedicated to furniture loans by talking about the Social Institute long-term loan rate, fixed up to the end of the amortization plan and equal to 3.50%. The customer who chooses this loan must also take into account the administrative costs of 0.50% of the amount received. There is also the risk provision contribution, which varies according to the age of the customer at the end and at the beginning of the amortization plan.
The loan, which is repaid by assigning a fifth of the salary or pension, can be renewed after two years from the start of the plan in the case of a five-year loan. To renew the ten-year loan, four are needed.