Cooperative social loan: what is it and how it works

Cooperative social loan: what it is and how it works

Coop social loan: what it is and how it works

The Italian credit sector offers various and numerous types of financing, which can be modulated according to the specific needs of customers and the specific requirements that each applicant needs to present. In some cases, in fact, it may happen that access to small or large figures can prove to be complex especially for all those who do not have the necessary guarantees to obtain extra liquidity. Fortunately, today, compared to the past, it is easier to find alternative solutions on this front.

In this sense, a particularly important role is played by so-called social loans, that is, those particular forms of financing destined for cooperatives or those who are part of them and which therefore cannot be paid to companies or individuals for different purposes. In the Italian panorama there are many opportunities available but among these one of the most relevant is the Cooperative social loan. The mechanism of this product is quite simple: the partners will be able to entrust their savings to the Cooperative, contributing in an active way to its development, in exchange for the collection of a return on capital and the possibility of using a series of services. To be able to access this solution, it will be sufficient to be in possession of a booklet of the Social Loan, which can be requested through the membership point of any Coop store, thus becoming a full service lender. The advantages in this case are numerous and provide in fact the possibility to carry out a vast series of operations without additional costs. It is also important to know that it is possible to close the booklet at any time, seeing that the interest accrued on the same day is paid.

Loan estimate of 5000 euros

Loan estimate of 5000 euros

 

Financial: Simple Loan
Product: Personal Loan
TAN Fixed: 4.25%
APR: 4.44%
Loan duration: 60 months
Amount Financed: € 5,000
Total due: € 5,558

Monthly installment € 92, 64 Feasibility check 

Financial: Ultranix
Product: Personal Loan
TAN Fixed: 4.91%
APR: 6.56%
Loan duration: 60 months
Amount Financed: € 5.146
Total due: € 5.848

Monthly installment € 95, 07 Feasibility check 

Financial: Bankil
Product: Personal Loan
TAN Fixed: 6.25%
APR: 6.64%
Loan duration: 60 months
Amount Financed: € 5,000
Total due: € 5.859