The credit line is one of the financial products offered by the Poste Italiane group to its customers and allows access to a new source of liquidity. Like other bank loans, this Bancoposta credit instrument also provides for the opening of a credit line in favor of those who have signed a current account with Poste Italiane. The most common eventuality in which a client requires a credit line is overdraft, or an overdraft : the account holder needs a higher amount than the one deposited in his account and turns to the credit institution for new liquidity.
Obviously, it is not necessary to wait to be in red to make a request for a bank credit line
you can activate this tool to be calm about the possibility of obtaining liquidity in times of need. The credit line will be automatically reinstated each time the current account holder has deposited new money into his current account. However, this service has costs , depending on the type of instrument chosen.
BancoPosta offers its customers three types of credit lines, based on the net monthly credit that the customer can deposit on their account: credit not less than 500 euros per month, more than 1,500 euros per month, higher than 3,000 euros per month. Based on the deposited figures, a credit limit of 750 euros, 3,000 euros and 5,000 euros respectively can be obtained.
The costs of the BancoPosta credit line consist of a quarterly commission to be paid to Poste Italiane and interest accruing on the amounts available through the credit line. A first measure of the rate is the TAN, nominal annual rate, which calculates the interest, but the index to be considered is the APR, the annual percentage rate, usually higher, because it also counts other ancillary expenses, adding them to interest.
The requirements of the Bank credit facility are to hold an account
With a maximum of 2 co-holders, to be an employee or a pensioner and to receive the salary or pension credit right on the BancoPosta account. We must then have Italian citizenship and be resident in Italy. The request must be sent to the same Post Office where the account was opened, presenting himself with an identity document and social security number, a copy of the pension slip or the pay slip, and a copy of the last statement certifying a monthly credit net.