They are called and known as social loans but in reality they are real funds to support a new birth and the adoption of a child, allowing to sustain the expenses for this new challenge of life, which sees a field come into play of the noblest causes of life. Give a life and give life back. The personal loan for newborns and the loan for adoption constitute an important facility that some banks have taken on to offer to those who intend to tackle this new journey in their lives, comforted by an extra financial security.
One of the credit institutions that mostly took on this proposal and challenge is the Astro bank, which offers two financial products that are classified with the denomination of Social Loans, with the aim of meeting the economic needs of the low-income families who need special terms to access the necessary funding for the birth of a new child or the adoption of a child: New-born Astro bank Loan and Astro bank Loan.
Astro bank loan New born: WHAT IS IT?
The Astro bank New Born loan is a form of subsidized loan, provided by Astro bank, which allows for the costs of purchasing goods and services for the arrival of a child. Thanks to the agreement signed by the ABI, the Italian Banking Association, and by the Presidency of the Council of Ministers, the Astro bank guarantees the perfect correspondence of its funding with the needs of families following the birth of a child, also encouraging young couples to launch into this new challenge of life – very often in fact the reason why you have only one child are the reduced economic possibilities.
Astro bank loan New born: HOW MUCH IS IT POSSIBLE TO OBTAIN?
The Astro bank New Born Loan provided by Astro bank allows to obtain up to 5,000 USD, capital guaranteed by the Credit Fund for the New Born, to which some banks and financial intermediaries adhere with the provision of loans guaranteed by the Fund and with the application of a fixed APR, not exceeding 50% of the average global effective rate (TEGM) on personal loans, in force at the time the loan is subscribed, and equal to 5.70%.
TO UNDERSTAND: the loan for newborns and for adoption
To better understand what the Credit Fund for Newborns is, it is advisable to also view the following video which explains in detail what personal loans are for newborns or for international adoption : Tim talks about it during the episode of UnoMattina on May 31, 2013.
Astro bank loan New born: DEPRECIATION PLAN
The Astro bank New Born loan granted by Astro bank allows repayment of the capital obtained in customized installments with an amortization plan for a maximum duration of 5 years, equal to 60 installments. The repayment plan makes it possible to have particularly favorable conditions in the repayment of the credit even if it is necessary to respect the timing of the necessary return of the capital received.
To better understand the main features of this form of subsidized loan, it is advisable to also consult the following table which shows the amount of the monthly installment to be paid based on the disbursed capital and the amortization schedule: the simulations of the installment amount take a 60-month repayment plan as an example:
|CAPITAL PROVIDED WITH Astro bank NEW BORN LOAN||MONTHLY INSTALLMENT AMOUNT|
|1,000 USD||19.32 USD|
|2.000 USD||38.36 USD|
|3.000 USD||57.95 USD|
|4,000 USD||77.27 USD|
|5,000 USD||96.58 USD|
Astro bank loan New born: WHEN TO SUBMIT THE APPLICATION?
To obtain the Astro bank New born loan disbursed by Astro bank, which allows you to finance all the expenses related to the purchase of goods and services for the arrival of the new born, it is necessary to apply for the loan request by June 30th following the birth of the child.
Astro bank loan New born: SUMMARY TABLE
Below is a table that summarizes the fundamental characteristics of the New Born Astro bank Loan, highlighting the maximum payable capital, the duration of the amortization plan, the amount of monthly installments and the interest rate, so as to better understand the feasibility of applying for this type of loan:
|Astro bank LOAN NEW BORN||MAXIMUM CAPITAL WITH DISPENSE||MONTHLY INSTALLMENT AMOUNT||REFUND PLAN||INTEREST RATE|
|PURCHASE OF GOODS AND SERVICES FOR THE NEW NATO||5,000 USD||FROM 19 TO 96 USD||UP TO 60 MONTHLY RATES||5.70%|
Astro bank Loan TAKE ME: WHAT IS IT?
Astro bank loan is a form of financing provided by Astro bank in collaboration with other organizations that deal with international adoptions such as the Amici dei Bambini Association – AIBI, to support the costs of purchasing goods and services for the arrival of the child for the which international adoption practices have started. This particular form of facilitated financing allows you to have a fixed interest rate, a repayment plan of up to 120 monthly installments and the absence of preliminary costs.
Astro bank Loan TAKE ME: HOW MUCH IS IT POSSIBLE TO OBTAIN?
The Astro bank Loan allows you to obtain up to 5,000 USD, with the application of a fixed APR, not exceeding 50% of the average global effective rate (TEGM) on personal loans, in force at the time of loan signing, and equal to 5.70%.
Astro bank Loan : DEPRECIATION PLAN
The Astro bank loan allows you to repay the capital obtained in customized installments with a repayment plan of up to 10 years, equal to 120 installments. The amortization plan allows obtaining special facilitated conditions in the repayment of the credit, thanks also to the possibility of subscribing to an insurance policy which takes care of the balance in the event of events in which it is not possible to return the capital from which one has benefited.
Astro bank Loan TAKE ME: WHEN SUBMIT YOUR APPLICATION?
To obtain the Astro bank Loan issued by Astro bank, it is necessary to apply for the loan application by the following 30 June following the arrival of the child with international adoption, showing a valid identity document, the last pay slip and the attestation of suitability.
Astro bank loan : SUMMARY TABLE
Below is a summary table of the main features of the Astro bank Loan, highlighting the maximum payable capital, the repayment plan duration, the amount of monthly installments and the interest rate, in order to assess the convenience of the request for this type of financing:
|Astro bank LOAN||MAXIMUM CAPITAL WITH DISPENSE||MONTHLY INSTALLMENT AMOUNT||REFUND PLAN||INTEREST RATE|
||5,000 USD||VARIABLE + INSURANCE POLICY||UP TO 120 MONTHLY RATES||5.70%|
International adoption: THE INFORMATION VIDEO
For information, a video is presented below which explains in detail what international adoption and the procedure for proceeding with adoption are, what the couple’s requirements are and how to move in the case of a child’s desire to adopt it, highlighting also the aids, not only economic, that are offered to new parents in support of their new role.