Bank 5 loans – Can they be requested online?

Bank 5 loans – Can they be requested online?

Bank 5 loans: how to apply for a loan with the app

Bank 5 loans: how to apply for a loan with the app

The proximity nature of Bank 5 maintains some characteristics even for loans. In fact, we remind you that this bank has a wide territorial capillarity that simplifies the management of many of the services it offers (especially on payments and withdrawals). This credit institution was born from the incorporation by Intesa SanPaolo of Banca ITB (which had an agreement with its tobacconists) which was followed by a progressive upgrade of the offer. In the case of the request for personal loans, you have to rely on the app, with management then of the practice done at a distance.

From the Medium to the Plus loan

From the Medium to the Plus loan

First of all, it must be borne in mind that there is no direct disbursement by Banca 5 of the loans, but to decide whether or not to approve the request is Bankate. Not only is this financial company that actually provides the requested sum, after a regular preliminary investigation. Currently (1 October 2019), there are two possible types of loans, both belonging to the personal loan category. In particular these are:

  • the Medium loan ;
  • the Plus loan.

The difference between the two loans lies above all in the minimum and maximum amounts that can be requested, and in the duration of the amortization plan. Both aspects then end up affecting the interest rates applied (with Taeg going down with the lengthening of the duration).

Medium Loan

Medium Loan

For Bank 5 both loans provide modest sums. In particular, despite the name, the Medium loan can be considered a small loan, being able to obtain up to a maximum of 3 thousand euros. The duration of the amortization plan ranges from a minimum of 12 months to a maximum of 48 months and there are no preliminary commission fees.

An online installment calculation tool is not provided while an example is available on the official website (the rates are purely indicative and conditioned by the reporting period, where a reference is made to June 2019). In this example for 3 thousand euros to be repaid in 12 months, the Tan is 10.01% while the Taeg is 13.18% for an installment of 263.75 euros.

Loan Plus

Loan Plus

It is always a personal loan, but the maximum amount can be up to 5 thousand euros, and the repayment duration ranges from a minimum of 24 installments up to a maximum of 72 installments. The example on the site also offers in this case indicatively the conditions that are for an amount of 5 thousand euros to be returned in 24 months:

  • installment of € 229.57;
  • Tan rate fixed at 9.50%;
  • Taeg at 11.27%.

Request procedure

Request procedure

As already mentioned at the beginning of the article with Banca 5 the loan request goes through the app. We therefore see the procedure to be followed which is in any case quite simple and intuitive. To be precise, it is sufficient:

  • access the personal area via the app (if you don’t have the app yet, you will first have to download it on your smartphone, and install it). We remind you that the app is compatible with both iOS and Android which must have the following system requirements: 9.0 for the first case and 4.3 for the Android system;
  • register to create your credentials;
  • enter the credentials to log in and enter the personal area;
  • enter the menu and select the ” Loans ” item;
  • fill in the mandatory fields with the requested data (such as document, tax code, demonstrable income amounts, etc.);
  • attach the required documentation;
  • wait for the evaluation to be answered by Bankate spa: the answer will be sent via e-mail (address entered during registration);

In the event of a positive outcome, you will only have to wait for the requested sum to be reclaimed on the current account that was provided during the request.

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