Agos is one of the most popular and solid financial agencies that has been operating in the private equity market for about twenty years . The people who turn to credit institutions are many and all have different needs, for this reason Agos has thought of different solutions that are able to meet many needs. Among the proposals signed by Agos is the loan with the formula of the assignment of the fifth . Thanks to this form of credit, the debtor has the possibility to repay the sum of money received (including interest) by paying 20% of the net salary monthly , which is held directly in the paycheck.
What is and how it works
In order to receive a loan, with the formula of the assignment of one fifth of the salary, it is necessary to be employees (public or private) or retired . The one described above is a fundamental requirement that automatically excludes all those who do not have a permanent contract and who, therefore, can not guarantee the regularity in payment of the installment (fixed-term workers, occasional collaborators, freelancers and so on ).
Mortgages or other forms of collateral are not required for this type of loan because the salary / pension is the guarantor for the credit institution. Moreover, this type of credit is granted almost to all applicants, even to those who have had problems paying past loans and have been reported to the Crif as bad payers .
If you are thinking of borrowing a sum of money and repaying it with the assignment of a fifth of your salary or pension, you must know that it is a rather advantageous solution that allows you to have a small capital to use as a you better believe. The positive aspect of this type of financing lies in the possibility of paying the installments, provided for the repayment of the loan, completely automatically because it will be the same employer to retain the amount agreed in the payroll or the social security institution social security that will treat him from the pension bill.
Requirements to apply for an Agos loan with the formula of the assignment of the fifth
In order to be eligible and obtain a sum of money with the formula of the assignment of the fifth, certain conditions must be met.
The first, we have seen, is to have a fixed monthly income (salary / pension) from which to retain the loan installment. The second concerns the interest rate that can not be chosen by the debtor but is set by default and is always fixed .
The third concerns, instead, the maximum limit of the amount that can be requested on loan which can not exceed 60 thousand euros . Furthermore, also with regard to the duration of the loan it should be specified that there is a time limit setting the period of time within which the financing must be extinguished to 120 months .
How a fifth of the salary / pension is calculated
The forms to be filled out are available online, which allow you to know exactly what the monthly payment will have to be paid back . In order to know the exact amount that you will have to pay if you decide to light a loan with the formula of the assignment of the fifth, simply fill in the required fields concerning the amount requested, the duration of the loan and the value of the monthly net salary.
In this regard it is necessary to specify that when the value of the monthly net salary / pension is requested, reference is made to the amount indicated in the pay / slip account which does not include variables such as overtime, family allowances or bonuses.
Once you have identified the net value of your salary / pension simply divide the figure by 5. For example, if I have a net salary of 1,000 euros and I want to know what would be the monthly payment, maximum payable to repay a loan with the formula of the assignment of the fifth, I will have to perform the following division: 1.000 / 5. The result, ie € 200, is the maximum value of the installment . Therefore the value of the installment may be less than 200 euros, but never higher than the aforementioned amount. All this has as its objective to protect the debtor from over-indebtedness.