Guide to applying for a bank Payday Loan

 

There are many reasons why you may want to apply for a loan with Spin Lender: from the bathroom that needs renovation, to the car that needs extraordinary maintenance, to the desire to finally enjoy a well-deserved holiday or that 52-inch TV that you liked so much in the store. 

Payday Loans

Payday Loans

A Payday Loan is a loan that allows you to obtain liquidity without having to specify the reasons for the request.

Spin Lender offers you different types of Payday Loans, so as to be able to meet the most varied needs, but the requirements for applying for a loan (both online and in the branch), the documents to be presented and the repayment methods are the same.

All residents in Italy (including foreigners), aged between 18 and 75 (maximum age allowed at the end of the loan) can access a personal Spin Lender loan. At the time of the request you will have to provide a valid identity document, the tax code or health card, and the last paycheck, the latest tax return or the last pension slip depending on whether you are an employee, self-employed or a retiree. If you are a foreign citizen, you will also need to present a residence permit.

The amount, upon approved request, will be paid to you directly during the day by check or bank transfer. As for the reimbursement, you can take advantage of different methods: with automatic debit in current account or with postal order.

Having said that, let’s see in more detail the individual Spin Lender Payday Loan proposals:

  • The Excellent Loan is the basic form of financing for Spin Lender, which you can adapt to your needs by combining the amount, the amount of the installments and the duration as you see fit. With this type of financing the maximum amount you can request is $ 30,000.
  • The Jump Loan allows you, like the Excellent one, to request up to $ 30,000 and to choose the combination of installment and duration you prefer, but in addition it gives you the opportunity to skip an installment per year, up to a maximum of 5 times for the whole the duration of the loan, moving the payment to the end. It is an option that can come in handy in that month that you had to face unexpected expenses.
  • The Total Flex Loan, on the other hand, offers all the options of the Jump Loan with the possibility of reducing the amount of the installment by extending the duration of the loan if you need it, without incurring additional costs. It is the most flexible form of loan proposed by Spin Lender, with a maximum payable amount of $ 30,000.
  • The Loan Digit Round allows you to request up to a maximum of $ 20,000, with the possibility of choosing the amount of the installment, which will always be the same for the entire duration of the loan, including all the items provided, and always round ( for example 80 $, 100 $, 120 $…) so it will be easier for you to keep track of your monthly commitments.

It is always one of the personal Consolido loans, but has some differences in the application requirements. It is in fact a loan that can be requested by employees, self-employed or pensioners who already have previous loans with other institutions, and who wish to merge the various installments due into a single installment. Spin Lender offers you up to $ 30,000 to extinguish previous loans and possibly obtain new liquidity, to simplify the management of the installments by returning to dealing with a single interlocutor.

Online request

Online request

You can also apply for a personal Spin Lender loan online (see also Immediate online loans ). Initially, a loan simulator is available to you which calculates the possible minimum and maximum duration based on the amount and the chosen installment.

If you are interested in continuing to obtain further details, clicking on Continue will display simple and intuitive screens where you can enter some of your personal data.

Going further, you will have to view the SECCI form and in the following screens you will have to complete your personal data by also entering the IBAN code of your current account on which to debit the loan installments. After uploading the necessary documents and summarizing everything, you can monitor the processing status of your request through the request code that is sent to you in your email. Everything is simple and fast.

Employee loans

Employee loans

The assignment of the fifth of the salary or pension is a different form of financing. First of all, it is addressed to public and private employees (between 18 and 63 years old) with permanent contracts and to pensioners of maximum 79 years at the time of the request and maximum 85 at the end of the loan, with pension, net of the installment, of at least 507., 42 $. Therefore, self-employed workers cannot access this type of financing.

If you meet the required requirements, you can request up to $ 75,000 at a subsidized fixed rate to be repaid in a span of 24 to 120 months and, by law, the monthly repayment installment cannot exceed 20% of the salary. Furthermore, this installment will be directly withheld in the pay packet by the employer or in the pension slip from the Social Institute. Again by law, this loan must be compulsorily insured, and the insurance coverage charges are borne by Spin Lender.

Keep in mind that to request the transfer of the fifth, it is necessary to go to the branch by appointment which can be fixed online or by telephone. The documents required for the practice are:

  • identity card;
  • fiscal Code,
  • last paycheck;
  • the Single Certification (ex CUD);
  • the pension slip.

Credit cards

Credit cards

If you often need a little extra liquidity, a credit card may come in handy. Again Spin Lender may have the right solution for you.

The only requirements are that you are an Italian or foreign citizen residing in Italy between the ages of 18 and 72.
Spin Lender offers its customers, subject to preliminary investigation, two different types of revolving credit cards with a balance option :

  • Easy : it is the basic credit card, contactless and belonging to the Visa circuit, which offers you, at zero fee, a ceiling of $ 1,500 that can be used immediately. What you spend, you will begin to repay it from the 15th of the following month in convenient installments whose amount and number depend on how much you have spent on the credit line. Stamp duty is paid by Spin Lender, and on cash advances (max. $ 300 per day), a 4% commission is expected at ATMs, at Spin Lender branches this commission drops to 1%.
  • Gold : it is the most exclusive card, contactless and belonging to the Mastercard circuit, which, for an annual fee of $ 40, puts at your disposal a ceiling of $ 3,000. You can choose from month to month whether to repay the debt in full or in installments, simply by making a phone call. A stamp duty of $ 2 is due if there is a balance of more than $ 77.47 at the end of the year. The fees due for withdrawing cash are the same as for the Easy card.

You can request these cards in the Branch, taking care to bring photocopies of the following documents with you:

  • valid identity document;
  • health insurance card;
  • paycheck or pension slip;
  • utility bill.

After the approval of Spin Lender, the Easy card will be delivered to you directly in the already active branch. To use it, you will need to memorize the PIN code which will be sent to you via SMS or via paper communication by post. Instead, the Gold card will be sent to you at home and, before you can use it with your PIN.

Revolving credit cards work a bit like a card loan, always available to you, but keep in mind that the TAN and the APR applied are not really light.

Targeted loans

Targeted loans

You can also rely on Spin Lender when you are purchasing goods or services from one of the over 35,000 affiliated merchants. Not only cars and appliances, but also travel, medical treatment, furnishings and even the expenses necessary for your fairytale wedding will be more accessible by turning on the right finalized financing.

Conclusions and opinions

Spin Lender offers its experience in the sector to all customers who, for different needs, need a loan. Whether you are a public or private employee, a self-employed worker or a pensioner, among the many Spin Lender proposals there may also be one tailored for you. Among the advantages of Spin Lender we find transparency and simplicity in applying for a loan, while among the disadvantages many customers complain of excessively high blackberries on short delays in payments and the insistence of the debt collection service.

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