New born loan: the public fund to support families

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

5,000 euros

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.

Open A Current Account for Everyone / Commitment of Banks

 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.


Loan of hope – solidarity loan

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.

Change Current Account – Recommendation: Bank with Change Service


p> The question of whether it makes sense, even after many years of business relationship with a bank to change the checking account, also answers the Stiftung Warentest. The consumer advocates came to their current account audit 2016, the conclusion that savings up to 200 € per year are possible . This should be reason enough for every bank customer to take a closer look at the current offers. Even the average saving of 100 euros a year is an incentive.


Many bank customers are aware that they are simply paying too much for the account . On the other hand, they were reluctant to change their bank account due to the bureaucracy associated with a change. A lot has happened here. Since the summer of 2016, the legislator has obliged the banks to transfer all standing orders and direct debits to the new institute free of charge when the account is closed.

According to the Stiftung Warentest, an account change pays off as low as 60 euros annual account management fee. The test also showed that while there are still free checking accounts, these have shrunk in number.

DKB with account exchange service

DKB with account exchange service




Why change the account?



 A comparison between the free checking account of a direct bank and a paid account of a branch bank makes it clear why the account maintenance fee is “money thrown out the window”.


The direct bank customer handles all banking transactions online. For bar orders has either a card that allows him to withdraw cash for free at an ATM of a particular banking group. Alternatively, his bank offers him a credit card that allows him to make free cash withdrawals worldwide.

The branch bank customer handles all banking transactions themselves. Either this happens online from home on the computer or at the service vending machines in the branches. Anyone who still goes to the counter to have a standing order set up, is kindly but definitely directed to the machine in front of the ticket hall. The branch institutes have done nothing but to return the services for which they charge an account fee to the customer. Customers pay for themselves to serve themselves. For the banks, this is almost “money for nothing”, as Dire Straits once sang. For paper transfers, customers are properly asked to pay.

What needs to be considered when switching accounts?

What needs to be considered when switching accounts?



Of course, changing the bank only makes sense if it offers tangible benefits to the account holder. These advantages are, after all, it is about money, even in cash.

Account management

The account management must be done today free of charge. Some institutions will grant this from a certain credit entry. Basically, a free account management but without ifs and buts is preferable.

While the branch banks sometimes even charge a fee for the debit card, this is generally the case with credit cards. The situation is different with the direct banks. Debit card, or as it is called recently, Maestro card, and credit card are free components of the account package. As a rule, the fees are also valid for the partner cards.

Cash withdrawals

The biggest differences are in the cost of cash card credit cards. This is then charged at some institutions, even if a Maestro card is issued. This raises the question of how well the ATM network is developed. A Maestro card of the Cashgroup (Deutsche Bank, Comdirect, Commerzbank etc.) uses little in the Hintertaunus. The fees for a credit card but can be omitted in a foreign assignment. Here again, however, a distinction must be made between the banks, which allow an unlimited number of foreign withdrawals and the institutions that set a certain number per year.

Direct providers who are not members of a banking association usually do not issue a Maestro card. Here, the bar orders at ATMs are limited to the use of credit cards. This is done free of charge.


Another important factor is the interest rates on a new checking account. Thinking about credit interest is idle. Most banks have discontinued this payment many years ago. If there is another bank that pays the credit interest on the checking account, this, even before the beginning of the low-interest phase, has a rather symbolic character.

More important are the interest, which calculate the money houses for account overdrafts. The range of disbursement rates ranges from around seven percent to over twelve percent. Whoever covers his account more often, should therefore take care that he chooses a bank, which does not overcompensate for the saved fees at the old bank by the Dispozins. That would be a bad business.

The new customer premium

The new customer premium, which some direct banks offer, should only be of secondary importance when deciding on a new bank account. First of all, it is necessary to reduce banking costs in the long term. However, if you decide on an institution that pays such a premium, you can look forward to a credit between 25 and 120 euros, depending on the provider.

Online loan without payroll: less money, but faster

An online loan without payroll combines the simplicity of internet funding with the flexibility of a request for lesser guarantees. A traditional loan, required by physically going to a bank branch, requires the subscription of a series of bureaucratic procedures and the presentation of solid guarantees: usually, the most requested form of guarantee is the last paycheck, which certifies how the applicant is an employee with a stable income.

This guarantees the bank about its ability to repay the debt

This guarantees the bank about its ability to repay the debt
But not everyone is able to present a pay slip, perhaps because they are self-employed (in this case you will need to provide the latest tax return) or, more and more often, because you have a precarious job or even you are unemployed. In these cases, access to credit is more difficult. This is why many lenders have also provided services for financing these people. Everything revolves around the request for more flexible guarantees: for example, instead of a pay slip, the signature of a third guarantor may be required. But if not even a guarantor is available? The solutions available at this point can be the pledge of a valuable item or the mortgage on a property owned.

In the face of these reduced guarantees, requesting an online loan also allows you to avoid long waits at bank counters and some bureaucratic steps. The problem of online financing without adequate guarantees is that large sums cannot be requested . One of the loans in this category, the one aimed at customers of the popular PostePay payment service, for example, offers only three solutions for the amount to be borrowed: 750 euros, 1,000 euros and 1,500 euros.

This limitation is due to two factors that characterize this type of loan

This limitation is due to two factors that characterize this type of loan

firstly, all loans without payroll usually offer only small amounts , however lower than those obtainable with a traditional personal loan. This happens because the banks do not want to expose themselves to more risky applicants without a stable income. Moreover, the online loan is certainly more flexible, but even in this case the credit institutions cannot provide too high figures, given that they have less control over the people who request them.

For this reason, the online loan without payroll is a suitable solution for those who are looking for small numbers quickly to remedy moments of low liquidity and economic difficulty.