Not a few banks offer loans without pay for students, which have an agreement aimed at completing educational activities; they are called honor loans and can be obtained only with specific requirements: we find out which banks make them available and what needs to be done to be able to obtain them.
Honor loans without pay for university students
The credit bank was one of the first to set up this system for the provision of money for young unemployed students and clearly without pay, but eager to complete their university studies. In fact, the credit proposal is called not at home, Ad Honorem Loan, and to obtain it, it is sufficient to simply request the opening of a current account at one of the bank’s branches. the loan, like any other personal loan, is repaid in monthly installments that the bank takes directly from the customer’s account. Sometimes the agreement also grants the possibility to take advantage of the possibility of extending the so-called amortization plan, and this basically means that instead of the month immediately following the request, the student will begin to pay after a certain predefined amount of time. Requiring the opening of the Ad Honorem loan to the credit, also means not taking on any extra costs, or insurance for the purpose of obtaining the agreement. The loan can be repaid starting from a minimum of 12 monthly installments, up to a maximum extension of 180 months. But how far can you get with the loan in question?
Funding for students without income generally starts from a minimum of 4 thousand euros and reaches a maximum of 27 thousand euros. As for the interest rate that will be applied, this will remain fixed for the entire duration of the loan and can even reach 9%. On the other hand, according to the reimbursement modalities, assuming that a young student is given the opportunity to receive the requested amount of 20 thousand euros, here it can be returned in one of the following ways: in 180 monthly payments and with a fixed installment per month which is just over one hundred euros, or even in 48 monthly installments worth 420 euros each, or simply in 36 monthly installments of around 500 euros a month. Fundamental requisites required are at the time the loan request is sent, the following: a minimum age of 36, the possession of guarantors able to fill the loan installments to be paid monthly. To apply for a loan, you can make the request via the web simply from the official website of the bank, or book an appointment in one of the nearest branches. In general, to complete the request for acceptance of the loan, 6 to 10 working days pass, as the loan without pay must be justified and all the necessary checks will be carried out.
Reaching your goals is also possible thanks to the loan offered by the bank
Which as you will now find out proves to be far more efficient than a normal loan that could be granted by other credit institutions. Let’s understand why. The bank honor loan can easily be requested online also by filling in the form that will open automatically once you have navigated the site, in the appropriate section dedicated to this project. Unlike other loans, this will be repaid in full at the end of the master’s degree, so it will not be necessary to request an extension of the amortization plan in order to settle the payments of the various monthly installments. As if this were not enough, the loan to honor without a pay slip can also be requested in this case to cover the costs of any courses to be taken abroad, unlike the one previously described by the credit bank, which instead had an agreement only with the largest university of Italy. The bank loan can be repaid in a maximum duration set at 84 monthly installments, not as many as other financial loans are offered, and among the expenses covered by the loan there are also those that will be subsequently destined, in the case of studies abroad, to the accommodation of the student, even if in this case we must pay attention to the percentage that the bank decides to allocate, and of which we will deal later.
But let’s see more clearly; the maximum amount of euros obtainable through the agreement of the bank is that of 30 thousand euros, which the student can allocate at will in the sectors described above. An observation is to be addressed to the method of payment of the accommodation, which the bank will cover up to a maximum of 10%. The method of extending the payment, which must necessarily be equal to 84 monthly installments, is not to be extended, and here is the regulation of the various monthly installments will be: € 422.61 at a variable rate, which is generally between € 4 and 5%. We should not underestimate what we could define as extra financing costs, and which can all be read in detail in the leaflet downloadable online. The expenses include those that will be sent to the customer by paper, and that are: the summary of the payments, the installments to be paid and therefore resulting as unpaid, the costs for interest certification, issued at the request of the customer, and also the relative expenses to those documents for which the customer will request a copy. These costs start at a minimum of 0.60 euro cents, and can even reach 6 euros. To get more information on this, just go to the official website of the bank and fill in the form at the bottom of the page by entering your name and an email or phone number to receive the information you need, because the site also comes specify special terms and conditions reserved for particular categories of students.
How to apply for a student-free loan at the bank
Not only banks, but also credit institutions are available and provide their customers with the honor financing service. One of them is the financial company Bank, which offers the loan not only to university students who need money to complete their university studies, but also to secondary school students. Bank financing without a pay slip can be obtained unlike the others even in just 2 working days, and the client must clearly have a current account on which he will then automatically withdraw the money monthly. To apply for the honor loan on the Bank, simply fill in the form which opens automatically by navigating on the Bank website and wait for the reply from the financial institution. For example, let us assume that the student receives a sum of 10,000 euros to be used to complete his studies; here the money can be repaid in one of the following ways: in 48 monthly installments worth slightly more than 200 euros, or in 60 installments worth 165 euros a month, until reaching a maximum extension of 108 installments of 121 euros per month, and lastly 120 monthly payments of just over 100 euros per month. Finally, as regards the interest rates to be applied, these are equivalent to the following: tan to 5.59%, and taeg to 6.30%. Unlike other loans, however, Bank does not give the customer the opportunity to extend the amortization schedule, nor to be able to start paying the installments only after completing the master’s degree or any other course of study. It is for this reason that in addition to demonstrating the motivation of the financing by showing itself as students, it will be necessary to appoint parents or other tutors as guarantors of the financing, in order to guarantee the total extinction of the loan to the Bank, despite the student being unemployed and for this reason is not able to receive the pay slip and therefore to declare an income.
The completion of the university studies can also be carried out with Bank, which offers clients the so-called Bridge loan, which finds a point in common with the offer of bank precisely because the money can be totally repaid upon completion of the course of study that you intend to attend. Let’s find out more details on the loan to honor that Bank offers. After completing the course of studies, the customer has the possibility of returning the money in a maximum time span of thirty years. Furthermore, by requesting the opening and disbursement of this loan, the customer will be provided automatically: the flash card, a prepaid card to be used to efficiently and conveniently manage their daily expenses, together with the so-called Account with Praise, a type of current account set up only for the Bridge loan, which the client must obligatorily open in order to withdraw the money. Let us take as a special example a student requesting the granting of a loan of 1,500 euros to complete his course of study. Here the money received can be repaid in just three months and with an installment worth 500 euros. The possible extra expenses that can be read in the Bank illustrative sheet, and that regard, as it happens for other credit institutions, the operations carried out only in paper form are not to be underestimated. The loan with praise of Bank starts from a minimum of 1,000, and even reaches a maximum of 50 thousand euros, which can be repaid as we have been for a minimum of three months up to a maximum of 30 months. The interest rate applied will remain fixed at the time and equal to 3.83%, so for example on a loan of 15 thousand euros, the student will find himself paying the sum of 17,500 euros on a loan extended in a time frame of eight years. For more information on the Bridge Loan with Praise offered by Bank, you can fill in the automatic form on the site, or request an appointment at a branch nearest you.
Finally, the bank, which proposes the loan called Discount and Praise and of which we are now going to talk, is also included among the banks that offer a loan of honor without a pay slip. Unlike other loans, however, the bank offers the advantageous and variable interest rate depending on the average student has, so the greater the positive results and the lower the interest rate to be paid in relation to the loan. The bank proposes an offer to reach a maximum of 20 thousand euros, repayable over a period of up to 120 months. So assuming that a customer requests a maximum loan of 20 thousand euros, which we remember can also be done entirely online and by filling out the form that will open by clicking on the words Loan Discount and Praise, here is that the money can be returned in 120 monthly payments with an installment of just under 170 euros per month. For more detailed information, it is advisable to make an appointment at the branch of the bank closest to you. The solutions as you could see to be able to complete the course of studies for unemployed university students and clearly not in possession of a paycheck are many, you just need to be able to find the one that is right for you and that can satisfy your needs.