The technical terms relating to personal credit for the financing of a purchase, which are the most used.
Credit reliability
It measures the potential that a subject has to be able to obtain a financial credit.
This feature is mainly determined by some important factors including the ability to produce income, the existence of any other existing loans and, very important, having provided in the past to punctually honor the installments of previous loan concessions.
Credit opening
It is the moment in which a certain sum of money is made available to a certain subject with the commitment to return the amounts spent including interest accrued
Employment insurance
To obtain a loan for employees, it is mandatory to carry out this type of insurance to protect the creditor from a possible termination of the employment relationship by the applicant.
Life insurance
This is also a compulsory insurance that employees who apply for a loan must carry out
Credit card
It represents a very popular payment instrument worldwide that allows you to make your purchases at all affiliated stores.
Each operator must be equipped with a special device (Pos) that allows the card to be read optically by swiping the card in the appropriate slot.
What you get is a cash advance, both in the case of a purchase and a cash withdrawal at an authorized ATM with subsequent debit in the current account of all expenses in a single monthly bank statement.
Rechargeable credit card
In recent times, rechargeable credit cards that allow you to top up the amount necessary to make one or more purchases so as to limit the risk of fraud only have spread for reasons of greater security. to the amount loaded on the card.
Revolving credit card
This is a particular type of credit card with which a fixed amount is made available to the subject, which can be spent at will and repayable in installments, generally monthly, which replenish the initial credit line.
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Central Risks
The Central Credit Register is a specific organization that deals with providing information on the credit positions of all the subjects who have applied in the past or are still in the process of financing or have applied for a loan.
This information is provided to the companies that adhere to it (banks, financial companies, insurance companies, etc.).
In turn, all the member companies share information on all the financing relationships established with their customers in order to create together a system to prevent insolvencies
Salary certificate
Must be released by the employer.
It certifies the existence of an employment relationship with the date of hiring, the years worked, the gross and net remuneration, the severance indemnity accumulated over the years, any deductions in place on the net salary intended for the payment of other loans in progress.
Assignment of the fifth of the salary
This is a non-finalized loan intended only for employees.
It consists in granting a loan whose amount is repaid in constant installments automatically withheld from the paycheck which must not exceed the fifth part of the monthly salary.
Credit agreement
It is an agreement between the seller of a product or service and the buyer.
With this contract, the seller, by renouncing immediate payment, accepts a future payment commitment by the buyer, in installments or in a single solution
Agreement with financial
It is a reseller of goods or services that offers its customers a purchase in installments by offering a loan.
The request for funding must be sent to the financial company that will evaluate it and within a few hours, if so, will proceed with the disbursement of the loan for the requested amount.
Consumer credit
It is an extension of payment granted to a natural person who wants to purchase an asset for personal use unrelated to his eventual business activity.
APR
It is an abbreviation that means 'Annual percentage rate of charge' and indicates the total cost of the loan.
It includes the preliminary fees, the opening fees, the installment fees and the insurance costs
Tan
This abbreviation indicates the 'Nominal annual rate' expressed as a percentage applied by the financial company on the gross amount of the loan.
It represents the portion of the interest that the debtor will have to pay to the lender in addition to the net repayment installment. Note that, unlike the Taeg, expenses for accessory charges are excluded
Zero rate
The zero-interest loan occurs when the interest is paid by the seller instead of by the customer who will have to repay the lender, at the set deadlines, the capital with any additional expenses.
