The new-born loan was a form of subsidized financing for families who had a child in the year prior to the request. This kind of small loans gets benefits thanks to the guarantees provided by the State, which assumes the role of reassuring the bank about the repayment of the loan, ensuring to intervene in case of insolvency of the debtor. In this way, costs are reduced, ie the interest rate to be paid. However, a public guarantee does not mean that the capital received should not be repaid: it is not a loan. Nevertheless, in this way the State supports families with children.
Let’s see how the new born fund works
The dedicated fund was activated at the Department for family policies of CONSAP (Public Insurance Services Concessionary), a public body that is used for these activities of access and support of credit. The Fund functioned thanks to close agreements with the banks participating in the initiative: this means that to apply for a new-born loan, one needs to contact a bank that has accepted the conditions of the Fund. The list can be found on the ABI website, the Italian Banking Association.
The banks adhering to the loan for newborns agree to provide some facilities for the APR, the Global Effective Annual Rate , which also includes all ancillary expenses. In particular, the APR will be fixed and cannot exceed 50% of the TEGM, Effective Global Average Rate on personal loans. What does it mean? The TEGM is a rate calculated every 3 months by the Bank of Italy, which takes into account the average of the interest applied by the banks on a particular sector, in this case that of personal loans. The APR of the new-born loan cannot be more than half the value of the TEGM on personal loans calculated by the Bank of Italy at the time the loan is requested.
The maximum amount of obtainable is 5,000 euros, but the capital can be used for any expense
The repayment period for the new-born loan may extend for a maximum of 5 years. In this way, the New Born Fund helps families pay the expenses for the newcomer and facilitates their first years of life.
In 1995, the major banking associations (Deutsche Kreditwirtschaft) drew up the following recommendation on the “checking account for everyone” :
All credit institutions holding checking accounts for all sections of the population will, upon request, have a checking account for each citizen in their respective business district. This gives the customer the opportunity to receive credits, to cash in and out and to participate in the transfer traffic. Overdrafts the credit institution does not need to admit. Each institute is free to offer additional banking services.
The willingness to keep accounts is basically given, regardless of the nature and amount of income, eg. Eg unemployment benefit, social assistance. Entries with the Schufa, which point to bad economic conditions of the customer, are not alone reason to refuse the guidance of a Girokontos.
The bank is not obliged to keep a current account for the applicant if this is unreasonable. In this case, the bank may also terminate an existing account.
New : Here you will find a comparison of all-rounder accounts (also called basic account genannat) German banks.
Unacceptable is the opening or continuation of an account, especially if
- the customer misuses the services of the bank, in particular for illegal transactions, eg. B. fraud, money laundering o. Ä.
- the customer makes false statements that are material to the contractual relationship
- the customer grossly harasses or endangers employees or customers
- the intended use of the account to participate in cashless payments is not given because z. For example, if the account is blocked by acts of executing creditors or is held for a year without turnover
- it is not ensured that the Institute receives the customary fees agreed for the account management and use
- the customer also does not comply with the agreements.
The loan of hope is a credit access service provided by the Italian Episcopal Conference, an organization that brings together the bishops of the Catholic Church. The CEI has been launching for some years some facilities for access to credit for the most disadvantaged citizens and families, in order to favor social and economic inclusion. Among the instruments made available by the CEI there is also a guarantee fund, launched in 2009, powered by institutional and private subjects, which allows people in difficulty who turn to this institution to receive favorable conditions to obtain a loan.
The loan of the hope of Caritas is aimed at encouraging the reintegration of those who have lost their jobs or the launch of a self-employed activity : it is therefore a loan aimed at creating jobs. In fact, funding can be requested for training and professional retraining activities. In this way, the person in difficulty can acquire new skills on favorable terms and increase their chances of finding a new job or creating one on their own. In fact, the funding can be used to finance the attendance of training courses and similar tools.
The loan can be requested by natural persons
(temporary workers, unemployed young people, unemployed), disadvantaged families and micro-enterprises, perhaps in conditions of start-up or restructuring. To be able to obtain the loan you must go to the nearest office of the diocesan Caritas. The documents for the loan of hope vary depending on who submits the request. In the case of natural persons, it is necessary to present:
- an ISEE certification;
- copy of the documentation issued by ASL, INPS or other public body on the condition of hardship, illness or disability;
- in the event of unemployment, the letter of dismissal or registration with the unemployment lists.
In the case of micro-enterprises, on the other hand, you must present yourself
- VAT number and Chamber of Commerce registration;
- balance sheet for the last 3 years;
- business plan to relaunch the professional activity or the start-up;
- the DURC.
At this point, the banks participating in the loan of hope will be contacted by the staff to whom you have turned and should provide subsidized loans, thanks to the guarantees provided by the CEI fund.