Difference between loans and personal loans up to 240 months or 20 years and how to obtain them.
Loans and personal loans lasting 20 years or 240 months : first of all, do they? And if they do them how to get them? So, everything depends on the meaning we give to the concept of financing which, we remember, is a very general term that indicates any form of credit (from mortgage to credit card) and that disregards the repayment term which, today, goes from 6 months up to 40-50 years. In view of this, the question from which to start is if there are financing up to 20 years , which are the purpose for which to request them. The answer will take place separately or on the basis of three different types of credit, namely:
A) personal loans up to 240 months or 20 years ;
B) liquidity mortgages up to 20 years (but even later) ;
C) loans for debt consolidation at 20 years .
Let’s see the three hypotheses separately.
A) Personal loans up to 20 years : among all the types of financing offered by the Italian credit market, the personal loan is the most flexible about the methods of obtaining, where for greater flexibility we mean that which requires less guarantees to be disbursed. For this reason, it has always been the most requested by users. But back to our question: are personal loans up to 240 months or to be repaid in 20 years ? Unfortunately, in the current 2019, in Italy, there is no bank (financial or banking) that provides personal loans with a duration of 20 years … We consider that, most of the banks and financial companies operating in our territory, arrives to provide personal loans up to 10 years. Not only. There are also a few exceptions to this last rule, that is to exceed the decade and get the maximum to provide personal loans up to 180 installments but never 240 months (20 years). An example, real, of what we are talking about is viewable on personal loans at 180 installments or 15 years . Other financing follows at 20 years .
B) Loans up to 20 years: as mentioned, a form of financing at 20 years and which actually reaches 240 months (but also more), is the mortgage loan for liquidity otherwise also known as mortgage loan for liquidity. This type of financing is true that has the advantage of long duration (as well as better rates), but nevertheless has more restrictive criteria of disbursement than the personal loan: it can be granted only to those who own a property and therefore in substance only to those who have a home, a land and the like. For more information on this type of 20-year financing, consult loans up to 20 years .
C) Last solution for 20-year loans: as aforementioned, a last solution that allows us, on the basis of the case, to obtain a loan with a duration of 20 years is the consolidation of debts . The latter, as we all know, serves to merge one or more installments deriving from previous loans so that it presupposes that whoever invokes it has at least a loan in progress and for which it already pays an installment otherwise it is not possible to request it. Depending on the type of debt you want to consolidate (by amount, duration and guarantees), we can choose the solution of the personal loan (but at 180 months and up to 50000 euros, because over the aforementioned figure is not convenient) or 20 years implemented through mutual liquidity (for any amount and duration). Those wishing to deepen these last aspects recommend the resource that follows and from which it is possible to re-calculate the duration and the new installment.