Value of employees loans in Italy Q1 2020, by macro-region
Employees' loans refer to a specific type of personal loan called cessione del quinto dello stipendio in Italy. This type of loan implies that the loan receiver is required to repay their loan through the automatic transfer of up to one-fifth of their net salary or pension until the loan is fully repaid. It is a loan that employees or pensioners can apply for for personal needs relating to private and family life. This type of financing requires insurance to ensure payment of the remaining debt in the event of loss of employment or death. Whoever requests this type of loan enjoys all the protections and rights provided by the credit to consumers regardless of the amount of financing.