The Delegation of Payment (also called Loan with Delegation or Cession of the Double Fifth) is a form of financing that can be granted only to employees of Ministry, Public and Private Employees . The reimbursement takes place through the payment of an installment that is deducted from the salary of the worker and is paid by the employer, to whom the irrevocable mandate has been conferred by the employee, to the financing institution. In order for the Delegated Loan to be granted, it is necessary that an agreement be established between the subject providing the loan and the administration to which it belongs. In some special cases it is possible to hold delegation offices even in the absence of a convention.
These cases are aimed at:
- Public bodies such as Regions, Provinces, Municipalities, Health Agencies, etc ..;
- Company with majority shareholding by the State.
The assignment of the fifth is a right of the employee to whom the employer can not object . Instead the Delegation of Payment requires the consent of the employer .
Payment Delegation Features
The Loan with Payment Delegation is also called the Sale of the Double Fifth because, together with the Cession of the Fifth , it allows to commit 2/5 of the monthly net salary (1/5 for the Assignment and 1/5 for the Delegation). The repayment of the loan varies from a minimum of 24 months up to a maximum of 120 months , with fixed and constant installments . The operation is always assisted by an insurance guarantee against the risk of death and loss of employment. Delegation can also be granted to customers who have just requested a transfer of the fifth or those who have had credit problems in the banking system , foreclosures or protests in progress and also in the presence of other financial commitments.
The Loan with a Payment Delegation can be granted to:
- State employees;
- Public Employees;
- Employees of Municipal Companies;
- Employees of Private Companies;
- Affiliated Doctors.
Benefits Delegation of Payment
Here are the advantages of Paying Loans:
- The installment is held directly in the payroll ;
- The rate is lower (compared to the Personal Loan);
- Those who have had problems with protests can also access;
- It is a single signature ;
- It does not need any motivation ;
- It does not require any guarantor ;
- The Loan is covered by an insurance policy ;
- Installment and rate are fixed for the duration of the Loan;
- “Life risk” and “employment risk” insurance ;
- Duration of the loan from 24 to 120 months.