Have you decided to renovate your home and do you need ad hoc financing to finance the works? How about taking a look at Bankate Home Renovation Loan? The opinions of the users who have used it are positive, therefore it is worth investigating and seeing what are the salient features and requirements required to have access to this personal loan.
Before starting to read the article, however, I want to warn you that the maximum amount that can be requested is equal to $ 60,000, therefore, if you need more money for the renovation works, better switch to other offers, perhaps more than a loan you need a home renovation mortgage as they offer higher amounts and longer deadlines. On the other hand, however, know that unlike a loan, the unsecured loan uses the property under renovation as the first guarantee.
Without the necessary premises, what do you say to start by reading the characteristics of the loan and then conclude with the opinions, the considerations of the case? Well, let’s proceed!
Characteristics of the Bankate Home Renovation Loan
The Bankate Ristrutturazione Casa loan is a personal loan from Poste Italiane which can be taken out by its customers who have a Bankate account or an Ordinary Register.
The general characteristics of the loan include:
- Amounts payable: from 10 thousand up to 60 thousand USD
- Loan duration: 120 months
- Refund method: monthly installments
- Insurance: optional
The Bankate Home Renovation loan allows anyone who wants to renovate their home to shop such as: a new kitchen, renovating outdoor spaces, doing work inside or outside their home.
This product is also designed for the purchase of large appliances, photovoltaic and solar panels and for all those works that can improve the energy efficiency of the property, or increase its value.
As required by the 2018 Stability Law, those who carry out these works can access various facilities that allow you to get an Irpef refund on 50% of the amount spent. In this way, the impact of the loan on income is less than that of traditional financial products.
Who can request it and how
This product can only be requested by those who have certain requirements outlined by the group. Therefore, the requisites required by the Bankate Ristrutturazione Casa loan are:
- Permanent contract for public and private employees
- Pension with income produced in Italy
- Demonstrable income for freelancers and self-employed workers
- Not having reports as bad payers to CRIF, and not having protests going on
- It is not necessary to have funding which in addition exceeds 40% of the salary. In this case, you can first try to apply for a debt consolidation loan, to lower the incidence of the installment on the salary.
The Bankate Ristrutturazione Casa loan cannot be requested online but only in post offices. Those who wish can book an appointment by phone or from the Poste Italiane portal to define the day and time.
To apply for Poste Italiane financing for the renovation of the properties, the following documents must be submitted to the offices:
- Health insurance card
- Valid identity document
- Last two payslips for public or private employees
- Latest Single certification for freelancers and self-employed workers
- Income document for retirees
- Quotes or order forms for the costs to be incurred for the renovation of the property
Amount to be requested
The amounts that can be requested vary from Bankate customers to holders of a postal savings account. In fact, the former can obtain from a minimum of 10 thousand USD up to a limit amount of 60 thousand USD. For holders of the name booklet, it can be requested from ten thousand USD up to a maximum of 30 thousand.
Calculation of the installment
The loans that can be requested are from post offices, like this one dedicated to Home Renovation, they do not include a tool for simulating and calculating the loan installment. To obtain a quote and know the interest rates applied, you must contact Poste Italiane directly, requesting an appointment or going to the offices during opening hours.
Duration of funding
For both Bankate account holders and postal pass holders, the time required for repayment of the loan ranges from three years to a maximum of ten.
Insurance coverage is optional. If desired, by adding a small monthly sum to the installment to be paid, the group proposes the product Postaprotezione Prestito which ensures financing from certain unforeseen events that may occur over the years.
Withdrawal and refund method
The loan is disbursed in a single solution on the Banco Posta account. The holders of the registered savings account, on the other hand, can either request direct credit to an external bank account in the name of the applicant, or they can withdraw the amount in cash if this does not exceed 10 thousand USD.
The repayment for the holders of the Banco Posta account takes place with direct domicile. For holders of the passbook it is possible to choose between direct debit from an external bank account, or return the loan by paying monthly bulletins.
Reviews Bankate Loan Home Renovation
Opinions about Bankate Ristrutturazione Casa are mainly positive. Those who took out this loan found the process for the request easy. The maximum amount that could be requested, equal to 60 thousand USD, was also judged positively, despite the fact that for those who apply with the registered postal passbook, this is reduced by 50%. In fact, those who only have the passbook can request a maximum of 30 thousand USD.
The advantages appreciated by users: among the points in favor of this loan there is certainly the very easy request process which does not require excessive documentation. Another advantage is given by the possibility of using the loan for various renovation projects, in fact the sum can be used both for restoration works, both for the purchase of household appliances and for improving energy performance. Finally, those who have chosen to subscribe have noted one last positive point, namely the fact of being able to request the bonus from the Revenue Agency after the work.
To whom it is recommended: as the name implies, this loan is recommended for all those who wish to carry out restoration work inside their home or apartment. The financing is accessible to all those who have a demonstrable income, so it is recommended for both employees and self-employed or freelancers.
The interests: a negative point is the impossibility of being able to make a simulation of the installment and display the interest rates. Given that this loan is reserved for postal customers, those who signed it, however, denoted that the proposed rates are average, with those offered by other similar products.
Product considerations: in conclusion, the financing intended for the renovation of the house is a product appreciated by those who have already subscribed to it. The points in favor are ultimately: speed and simplicity of the application process, small documentation compared to other banking institutions, average rates, and the possibility of obtaining a refund from the Inland Revenue for the renovations, after spending the amount financed.