Banco Poste Loans Guide: Opinions, Costs, Maximum Requestable and Conditions

Find out if Bancoposte’s offer is for you

Lotito Banco Poste is a product of Poste Italiane that falls into the category of personal loans.

The first thing to say is that Poste Italiane personal loans are both finalized and not. They can be requested by going to any post office and their main features are:

• Amounts from a minimum of €1,000 up to a maximum of €60,000;
• Refund duration from a minimum of 22 to a maximum of 120 months;
• Fixed rate and constant installment for the duration of the loan.

Let’s now go to see in detail the whole range of Bancoposta loans, but first we also pay a little attention to the financial institution that provides them: Banco Posta.

Who is Banco Posta

Bancoposta is the bank of Poste Italiane, a joint-stock company founded 153 years ago and since 2015 which has, as a majority shareholder, held 60% of the shares, the Italian Ministry of Economy and Finance.

The institution, once dedicated only to the postal service, over the years has decided to expand its services also giving space to banking services such as loans, loans, insurance, mortgages, savings books, deposit accounts and credit cards.

Reliability

In addition to its listing on the stock exchange, Bancoposta’s turnover data are positive and the financial analyses have illustrated the solidity of the stock. In fact, the Cet1 ratio on financial stability stands at 16.9% (optimal, if you consider that the alert threshold signed by the ECB is between 1% and 8%).

Poste Italiane presents 12,845 offices throughout Italy, 132 branches and 7249 ATMs. The company is divided into 5 divisions: Express Logistics, Correspondence, BancoPosta, Territorial Network and Philately.

In addition, it has 16 centers for postal mechanization, 18 air connections operating daily and 2117 offices with employees of 40,000 delivery workers, located throughout the Italian territory. The total number of employees is over 134,000.

Types of Banco Poste loan

As I have already said, Poste Italiane loans are both finalized and not. In addition, other products also fall into the “Poste Italiane loans” category, such as Banco Posta Consolidamento loan and the mini Banco Posta loan.

Find out one by one in the following paragraphs.

Loyplace Banco Poste not finalized

The non-finalized Banco Posta loan, also called Banco Posta Classico loan, is a product for individuals and families with amounts from a minimum of € 3,000 to a maximum of € 30,000 and a repayment duration from 24 to 84 months.

It can be requested by workers or pensioners residing in Italy by going to any post office and exhibiting the following documentation:

• Valid identity document;
• Health card;
• Income document (paycheck or pension slip).

The amount requested, in case of approval of the loan, will be paid by crediting your Account Current Bank Post or by credit to another bank account, Postepay Evolution or directly in cash at the post office desk, for the Postal Savings Book Holders.

For all other customers, you can also get the amount up to €10,000 directly in cash at the post office counter.

The repayment of the installments is monthly and takes place, according to the type of customers, by direct debiting on BancoPosta Current Account, Postepay Evolution Card, Bank Current Account or by paying postal bulletins (the costs for the payment of the bulletins are charged to the customer).

It is also possible to subscribe to an optional insurance coverage to guarantee the return of the installments.

There is also a type of non-finalized Banco Posta loan that can be done directly from the PC without moving from home and using the digital signature only: it is the BancoPosta online loan that allows Banco Posta account holders with Internet Banking service to obtain up to 9,000 € returnable with 60 monthly installments of 182,10 €.

A finalized loan

The finalized Poste Italian loans are linked, as in the case of all loans of this type, to the purchase of a particular good or service.

In particular, Banco Poste prestiti proposes:

• Loan BancoPosta Auto to finance the purchase of a new or used car that provides for an amount from €12,000 (or from 10,000 euros with the Ordinary Postal Savings Book or Smart Postal Savings Book) up to € 30,000 and a minimum of 30 to a maximum of 84 months. This loan can only be requested from the Banco account holders who will have to go to the branch with valid identity document, health card and income document more preventive purchase of a new or used car;
• Loyance BancoPosta Renovation House to renovate or renew your home which provides an amount from 10,000 € up to 60,000 with a duration of reimbursement from 36 to 120 monthly installments. In addition to the identity documents and attesting to the income, the applicant must also present the estimates of expenditure or order vouchers.

In both cases, the loan is disbursed in a single solution with a direct credit to the BancoPosta account in the name of the applicant, or by crediting to bank account, Postepay Evolution or directly in cash at the post office counter (for amounts up to 10,000 euros) for the Postal Savings Book Holders.

The repayment of the installments takes place instead by direct debit on BancoPosta Current Account for BancoPosta account holders, or through the payment of postal bulletins (the costs for the payment of the bulletins are charged to the customer according to the pro tempore rates in force) for the holders of Postal Savings Booklet.

Even in these cases it is possible to subscribe to optional insurance coverage.

Finally, note that the loans aimed at Banco Posta are reserved only for Banco Posta account depositors (or holders of Postal Booklet) so if you do not have it and you want to take out a loan Poste Italiane you should consider opening one (Read here the characteristics of Banco Posta Current Account and if it really suits).

Other loans Banco Posta

Banco Posta also has other types of loans in its offer such as:

• Loyal BankPost Consolidation that allows you to gather all your deadlines in a single installment and provides for fixed monthly installments from 24 up to a maximum of 96 months with amounts from 3,000 to 50,000 €; with regard to request, disbursement and reimbursement works exactly like the previous ones and is also reserved for Banco Posta depositors or holders of postal book holders;
• Flexible Bank Mail Loan that allows you to get up to €30,000 to be returned with a rare number of 36 to 108. Its peculiarity with respect to the other Banco Posta loans is that it allows you to change and / or skip the installment. If you choose to increase the amount of the installment, the duration of the loan will be shortened; on the contrary, if you choose to lower the amount of the installment, your repayment plan will lengthe. Both the instalment and the instalment jump can be made only under certain conditions (for example the regularity of refunds), not at the same time and for a limited number of times during the duration of the loan (only monthly change for the exchange rate and a maximum of 3 times in total for the jump);
• Mini BancoPosta Loan, a small loan from 1,000 to € 3,000, dedicated to PostePay Evolution card holders; the repayment takes place in this case in 22 fixed monthly installments and to request it must be between 18 and 76 years old not completed at the end of repayment, residence in Italy and demonstrable work/pension income produced in Italy. Both the disbursement and the refund are made through the Postepay Evolution card.

Conditions of loan Banco Poste

Summary here for convenience all conditions of Banco Poste loans here. Of course, you will have to see in detail what is the Poste loan for you!

Maximum amount of Banco Poste loan

The amounts payable from the various Poste Italiane loans range from a minimum of € 1,000 up to a maximum of € 60,000.

Minimum and maximum duration

The duration of the repayment of a loan by Poste Italiane ranges from a minimum of 22 to a maximum of 120 months.

Tan and taeg

Each type of loan obviously has conditions for different rates, even if it is always a fixed rate that allows you to obtain a constant installment for the duration of the loan.

What happens if I stop an installment

Like all loans, skipping one or more installments of a Banco Posta loan you can incur blackberries and penalties of various kinds.

Only with the BancoPosta Flexible loan is allowed to skip the installment up to a maximum of three times during the duration of the loan. This will of course result in an extension of the repayment period but will not change all other aspects of the contract (instalment and rate).

What are the opinions on Banco Poste loan?

Banco Posta offers such a wide range of products in the loan category that can easily satisfy various types of people.

However, since the maximum amount that can be disbursed is up to 60,000 €, it is not advisable to contact Poste Italiane when you are looking for larger sums.

Finally, if on the one hand the site does not allow you to make a real online simulation of a Banco Poste loan, the capillarity in which this company is present on the national territory does not really make this an obstacle for those who are willing to know more close to the amount of installment and conditions.

Are you looking for the best loan at the best conditions? Click here to find out how to find the loan that is really suitable for you!