Payday Loans for New Employees: better personal loans without guarantor, requirements and rates


Let’s see how the loans for new employees work. All you need to know if you have just been hired and are interested in receiving a personal loan. Let’s find out what are the best personal loans without guarantor, with the requisites required to receive the desired loan and the interest rates applied.

Payday Loans for New Employees without guarantor: who can receive them and required requisites

If you have just been hired and you want to finally realize some projects that you have been dreaming for a long time, what you need is the loan for new recruits. This is a fairly common situation, considering that when you are unemployed it is very difficult, if not impossible, to have access to any funding. Usually the only way to get a loan if you do not have a paycheck is the presentation of a guarantor, who can present in our place the guarantees required by the bank. Unfortunately we do not always have the opportunity to present a person who is willing to guarantee for us, and therefore we find ourselves relinquishing the desired loan. On the other hand, new employees can receive a personal loan even without presenting additional guarantees. However, it is good to specify the parameters that are usually used by banks to decide whether or not to grant the requested loan.

First of all, the type of contract, which we know can be either indefinitely or for a fixed term, is very important. New employees who have a permanent employment contract will most likely not have any problem in receiving the desired funding. The situation of those who have a fixed -term contract is different. In this case usually the sum of money that can be requested will be lower, as there will be less freedom in choosing the duration, given that the reimbursement must necessarily be completed by the date of expiry of the contract. In this sense also comes into play another parameter that is considered by the company, namely the net salary received by the customer who submitted the request. Obviously, if the new employee presents a contract that guarantees a rather high monthly salary, he will have the possibility to face a higher repayment installment without problems than a customer with a lower salary. Depending on the duration chosen, the maximum payment will determine the amount that may be requested by the newly hired customer.

New employees therefore usually will not have particular problems in receiving a personal loan, regardless of the credit institution to which they are addressed, as they receive treatment in the same way as employees who have worked for several years. However, not all new hires have this possibility. In many cases, when a company is hired, a specific trial period is set, which usually ranges from 2 to 6 months. During this period the skills of the worker are tested and it is assessed if the latter is suitable to cover the role for which he was selected. In the event that the profile is not considered suitable, it may be sent home by the employer, and therefore lose the place for which it was to be hired. In particular, therefore, it must be specified that the request for funding can be presented only after the trial period has elapsed, and therefore when it has taken its full effect.

To conclude the analysis of the requisites required by banks for new employees interested in receiving a personal loan, we must remember those provided for the classic loans. In particular, as regards the age of the applicant, this should usually be between 18 and 75 years. Moreover, among the assessments made by the bank there is also the creditworthiness of the client, assessed on the basis of the loans received in the past by the client. In the event that the latter has always been punctual in payments there will be no particular problems, while for those who have been protested there may be some limitations. Finally, the customer’s economic evaluation includes the expenses he has to face. For example if you have to pay the rent for the house you will have a lower economic availability than those who live with their parents, for the same monthly salary. So to be able to receive a loan for new recruits it will be necessary to present all the monthly expenses that are faced, in order to provide the bank with a global vision of its economic situation.

Best personal loan for new hires: installment calculation and interest rates

If you meet the requirements that we talked about in the previous paragraphs, then personal loans for new recruits are in all respects similar to the loans offered to employees who have more experience. Therefore the treatment offered by the main banks will also be the same. For this reason the best thing to do to know in advance the repayment installment that we will face every month and the interest rates applied by the bank is to request a quote. Many of the major lending institutions offer their customers the opportunity to request a free quote online. To do so, it will only take a few minutes and you will not even need to register on the website. All we need to specify will be the amount we need, and on the basis of the term, immediately know the repayment installment and the applied Tan and Taeg interest rates.

Let’s look at some examples of personal loans for new employees offered by the main banks, so as to know interest rates and rates. If you need a loan of 20000 euros for example you can contact Ultranix, which offers you the possibility to choose a duration that goes from 12 to 120 months. Rather interesting is the solution with repayment in 72 installments of € 346.90, with interest rates of Tan 6.90% and Taeg 8.16%. Also Findomestic offers us the possibility to receive a loan estimate for new employees. Consider the case in which a customer is interested in buying a used car from 10000 euros. To achieve this project will be enough € 213.20 per month for 54 months, with interest rates Tan 6.30% and Taeg 6.49%. Personal loans can also be requested by new employees for lower amounts, for example to organize a trip, or to buy furniture or household appliances. For a 5,000 euro loan we have calculated an online estimate using the simulator available on the Compass website. For example, the loan amount can be repaid in 42 installments of 144.17 euros, with Tan 9.9% interest rates and 12.31% Taeg interest rates.



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