Formula Loanica is a credit product provided by Loaniempo, a financial company of the Deutsche Bank group. This is a debt consolidation loan, or a new loan that collects all the others (or even just a few) already in charge of the applicant. The advantage lies in the simplification relative to the payment of a single installment and relative reduction of the collection costs and the possibility of reducing, even significantly, the weight of the interests.
Features of Formula
A fundamental prerequisite for accessing Formula Loanica is being already a Deutsche Bank customer and having an unexceptionable past from the point of view of the payment of installments from previous loans.
The merger can include both loans issued by Loaniempo and other financial institutions. The minimum amount payable is 2500 euros, the maximum 30000 euros, repayable in a period ranging from 12 to 120 months (10 years), in monthly installments payable exclusively through bank rid.
The maximum tan is 14%, while the TAEG can reach 16.89%. The preliminary costs can amount to a maximum of 500 euros.
If the economic availability and the will to close the loan in a single solution are obtained, in addition to the residual capital, an advance redemption commission equal to 1% of the same must be paid.
The default rate for late or missed payments is determined by adding 10 percentage points to the ECB rate. To cope with these situations it is possible to take advantage of optional insurance policies. These, due to their non-obligatory accessory nature, do not contribute to the determination of the taeg. Pay attention if you are comparing more estimates by comparing the TAEG.
Who can apply for Formula
In addition to being clients of Deutsche Bank, it is implicit that there should be more funding to merge into the Single Formula. Another requirement is that the installments of other commitments made with the financial company or other institutions be honored without delay or omissions.
Another major limit is the minimum age: the older age is not sufficient but it is necessary to be at least 30 years old (and less than 65).
Single Formula a reserved for employees or pensioners, not for self-employed workers.
At the time of the request:
– identity document
– fiscal Code
– document certifying income (pay slip, pension slip or Obis-M model)
– order for early repayment of all the loans to be merged.
Article evaluation Loaniempo Loanica Formula, the debt consolidation loan of Deutsche Bank
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