Small postepay loan: features
The Postepay loan, that is the Bankate Mini Loan, has characteristics reminiscent of Special Cash, that is to say the other loan offered by Poste Italiane, but it stands out for the diversity of the amounts and for the duration – indeed, it would be better to say for the durations.
The loan in question is nothing more than a quick loan, that is, an agile and simple form of credit which guarantees much shorter disbursement times than those required by common personal loans.
The Bankate Mini Loan is more advantageous from an economic point of view than Special Cash and is based on the possession of a rechargeable card, the Postepay Evolution, which requires the payment of a fee of 10 USD per year. The elements that distinguish the Postepay loan are, in practice, a single duration for three denominations.
- the cut of 1000 USD requires a fixed monthly installment of 50 USD;
- the cut from 2000 USD requires a fixed monthly installment of 100 USD;
- the cut of 3000 USD requires a fixed monthly installment of 150 USD.
The return must take place – in all three cases – in 22 months. The APR of this loan is 10.14% : a value that makes the Bankate Mini Loan comparable to the current market average. As you can see, therefore, the refund is light and not at all demanding, with a sum of 50, 100 or 150 USD decidedly easy to support.
Here, therefore, that you can decide to resort to this financing for the most different reasons: for an unexpected expense, for the purchase of a holiday package, for an emergency, for a mortgage payment and so on. The amount is credited to the prepaid card, while the installments are scaled every month, from time to time.
How to apply for a small postepay loan,
To apply for the loan, all you have to do is go to any post office: the amount, as mentioned, is disbursed by crediting Postepay Evolution, while the repayment is made by debiting either the current account or Postepay Evolution itself.
The actual cost of the Bankate Mini Loan is 100 USD in the case of a 1000 USD loan, 200 USD in the case of a 2000 USD loan and 300 USD in the case of a 3000 USD loan. In the first case, in fact, the sum of the installments is 1100 USD; in the second case it is 2200 USD; in the third case it is 3300 USD.
The advantages of small loans
There are many advantages that derive from the use of the Postepay loan, a loan that is:
The requested amount is paid in a single solution and credited directly to the card. Once the withdrawal period has elapsed and then fourteen days have elapsed from the date on which the loan was disbursed, the loan can be paid off in advance at any time: to do so, simply go to a post office authorized for the service and request the extinction.
The withdrawal period, as mentioned, is fourteen days: essentially the customer can exercise the right to rethink in the two weeks following the date of disbursement of the loan.
Among the other strengths of the Postepay loan it is worth mentioning the fact that it can also be requested by those who do not have a current account or a Bankate account: what matters, in fact, is to possess the Postepay Evolution card, beyond the account.
How to join the offer
To join the offer you must have the Postepay Evolution card and be between 18 and 70 years old. If you wish, you can proceed with an early repayment and repay the loan before the expiration of the 22 months expected: in this case, there are no charges of any kind, which means that there are no costs or penalties to be paid.
Obviously, those who do not have the card can request one when applying for the loan.
The requirements for obtaining the mini loan
To get the mini loan you need to go to a post office and fill out the form at the counter. The form must be delivered together with an identity document, a document that certifies your income and your health card.
In some cases, however, additional documents may be required, in the event that those applying for the Postepay loan have characteristics that suggest this precaution. For example, a very recent working life could represent an obstacle, or in any case involve the need for some extra attention.
Even those who do not have a paycheck and a fixed income may encounter some difficulties: it is worthwhile, in any case, to ask for information at a post office counter for confirmation or to find alternative solutions if necessary.
Even foreign citizens have the possibility of obtaining funding: to the documents already mentioned, however, they must also add the residence permit, passport, a document that proves that you have resided in Italy for at least three years – if you are self-employed – and for at least a year – if you are an employee – and a document certifying that you have been working with the same employer for at least twelve months in a row.
How the refund takes place
The repayment takes place through the payment of fixed monthly installments, which expire on the 15th or 30th of the month as appropriate. As mentioned, the debit can take place on the Bankate current account, if you have one, or directly on the Postepay Evolution card.
The Postepay Evolution card
For the Postepay loan, therefore, a Postepay Evolution card is essential : it is a prepaid rechargeable card associated with an Iban that provides all the characteristics and all the typical functions of a Postepay, but which in addition allows you to receive and send wire transfers.
With the Evolution card, you can pay bills, telephone top-ups, F24 and other services enabled in every post office, as well as on the Internet, on the Poste.it website and on the Postepay.i website; in addition, it gives the opportunity to arrange transfers, also in this case from the Postepay.it site or from a post office, but also through a dedicated app.
The card is issued free of charge until 31 December 2016 – thereafter, starting from 1 January of next year, it will cost 5 USD – and requires the payment of an annual fee of 10 USD.
Paying and sending transfers does not cost anything with your card, as are salary credits and withdrawals from ATM Postamat. Equipped with contactless technology, this card allows you to make payments using the Contactless mode in all establishments where the terminals are set up ad hoc and enabled. There is no need to sign any receipt or to enter the PIN, moreover, for amounts that do not exceed 25 USD.
What is Postepay Evolution for?
In essence, the Postepay Evolution card is a rechargeable and prepaid electronic money tool, as well as a name, thanks to which the customer has the possibility to perform payment and withdrawal operations, but also to pay motorway tolls at the authorized toll booths.
In addition, it can be combined with the Postepay 2 Postepay Service (P2P system) which is available through the Postepay app, by virtue of which users can send money to other users, since in turn they are in possession of a Postepay and use the app in question.
The relationship that concerns the possession of the card is indefinite, also because at the time of expiry the Postepay is replaced with a new Postepay directly by Poste Italiane.
The Postepay loan, in conclusion, is one of the most interesting small loans available on the market: the simplicity of the procedures and the fact that there is no need to be a current account holder to request and obtain it are two undoubtedly positive factors, which have the advantage of greatly expanding the users and customers.