One of the types of employment contracts that is becoming increasingly important in our country is that of a fixed-term contract. This is an employment contract that has a pre-established duration, usually not exceeding 36 months (3 years), but can be renewed on expiry up to a maximum of 5 times.
Who can request them?
All those who have a contract with a certain expiration date, such as those who have:
- temporary contracts
- apprenticeship contracts
- part time contract
- placement contracts
- project contracts
- domestic workers and carers
- more generally all those who, as mentioned above, work through a contract with a certain deadline.
Loans with a fixed-term contract are requested according to the method of assigning a fifth of the salary.
In essence, the repayment of the monthly installments is made through a deduction of the monthly installment directly from the net salary. This deduction is made by the employer and is paid by it to the financial company.
The fundamental characteristic (which is also a limitation of these loan agreements) is that their duration cannot exceed that of the residual employment contract. For example, if you have an employment contract that still lasts 12 months, you will not be able to take out a loan that lasts for more than 12 months.
This, of course, also limits the maximum amount that can be obtained with fixed-term loans, which despite everything can be obtained to sustain small expenses to be repaid in installments.
As for the transfer of the classic fifth, the monthly installments are at a fixed rate and amount, which guarantees complete control of the monthly budget that is paid and allows you to organize yourself better with all the other expenses.
The installment amount, as anticipated before, is deducted from the net salary and paid directly to the financial company. This is done by the employer.
For obvious reasons, it is usually not possible for an employee with a fixed-term employment contract to take out a proxy loan (also known as double fifth).
The greater risk for the financial company and the amount obtainable, greater than that of the assignment of the fifth, exclude this type of loan for temporary employees.
What can you buy
There are absolutely no limits to what you can buy with this type of loan: from cars to motorcycles, even to holidays.
The only “limit” is the amount, which will never be excessively high due to the short duration of this type of financing.
From 2018 it is also possible to finance the purchase of furniture and home furnishings.
Financial companies offering them
There are several financial companies that offer fixed-term loans. Among the various, Best Company is one of the best ever. For a comparison of the various opportunities, however, SuperMoney is the best comparison service 2018.
The atypical loans offered by this company (registration REA 1141596) allow up to $ 5,000 and are dedicated to all categories of atypical workers.
The payment of the sum of money takes place by bank transfer to your bank account or by receiving, at your home, a check ( home loans ). No motivation required and the possibility of providing the loan in any part of Italy are some of the strengths of this financial company and its financing.
In conclusion and how to request them
We can close by saying that employees with a fixed-term contract are not completely excluded from the possibility of applying for funding.
What is certain is that there are some limitations (as well as duration in the number of financial companies or banks willing to lend money to an atypical worker) but with patience and with a good online search you can be able to find the best solution for your own needs.