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Astro Finance Leisure Loan Review


Loan Astro Finance Leisure

Loan Astro Finance Leisure

At first glance, the name of the loan “Tempo Libero” may seem really scattered. A choice of this type finds its justification in the fact that the range of assets that Astro Finance is willing to finance with this solution is really wide. The lender is willing to lend money for the purchase of electronic products such as decoders and hi-fi systems, but also for last-minute holidays such as stays in resorts and safaris. This also justifies the really wide range of the financeable amount.

Loan type
Astro Finance Tempo Libero is a finalized loan useful for carrying out your projects.

Manage your installments with the “Change and Skip Payment” option
The lending institution offers a very attractive option. This is the ” Change and Skip Payment ” which allows those who have applied for a loan, after the first 6 installments, to change the amount or to move a maximum of 3 at the end of the loan. 

Large funding amount
The amount that can be financed is very large starting from a loan of $ 1,000 up to $ 60,000 .

Strengths of the Astro Finance Tempo Libero loan: flexibility
This loan is very flexible, both as regards the range of assets that can be financed and for the options for managing the installments contained in the contract and for the “Cambio e Salta Rata”.

Who is the loan for?
The funding is not aimed at any particular category. Just be of legal age and have a demonstrable income to be able to request it.

How installments are paid
The installments are debited automatically and take place on the current account used during the signing of the contract.

No need to change banks
Even if your bank does not belong to the Bankate group, there is no need to change it. This is a great advantage for the customer who in this way will not have to bear additional costs for opening a new c / c.

Loan insurance
Loan insurance is not mandatory. Also in this case Astro Finance offers the customer the possibility to customize the loan conditions.

Requirements to apply for the loan

Requirements to apply for the loan

  1. Be no less than 18 but no older than 75
  2. Be the owner of a checking account
  3. Being able to prove your income (through a payslip for pensioners, a last tax return for freelancers and a paycheck for employees)
  4. Having residence in Italy

Requested documents

Requested documents

  • Identification document (such as identity card, but also passport or postal passbook)
  • Fiscal Code
  • IBAN of your current account
  • Cellphone number
  • Document showing last year’s income

Loan details

Loan details

The Astro Finance Tempo Libero loan, as mentioned above, is very malleable – on medium amounts. This feature will become more evident as the funding details are analyzed. Let’s see immediately what they are:

Amount to be requested
The amount that can be requested is between $ 1,000 and $ 60,000.

Number of installments, duration of the loan
In most cases, the customer can choose the number of installments and the duration of the loan, thus satisfying his needs. In some cases, however, Astro Finance sets the number of installments, for example: if you request a loan of $ 30,000 by setting the simulation “purpose – holidays “, the installment simulator returns only 5 options for the installment of the requested amount, the longest is only 48 months – 4 years, the installment amounts to $ 728.20, it follows that the monthly income of those requesting the loan should be greater than $ 2,500 net to be eligible for funding.

If, on the other hand, the minimum amount is requested – i.e. $ 1,000, the discussion changes: the installments to be paid will be 18, the gold amount of $ 58.80 each, the APR calculated without – the insurance option – is equal to 9.86 %, the total amount to be returned is $ 1,076.40 – of which 76.40 are costs and interest. Example screenshot follow.

Interest rates applied
The interest rates applied are fixed, that is, they do not change over time. The only change is based on the amount of money we have requested. For the smaller ones, the rates are around 6.25-6.26% of the TAN and 6.44-6.45% of the APR, while for the larger sums the 7.97-7.98% of the TAN and 7.70% of the APR. See summary sheet for more details on how interest calculation works.

Insurance coverage
Insurance coverage is optional, except for smaller amounts where it is not provided. The amount of insurance varies according to the duration of the loan and the amount requested. The policy protects you in the event of death, total temporary disability, total disability or loss of employment. The insurance company will pay the debtor’s installments to Astro Finance, until the latter is able to return the sum of money to the lender and regularly resume the payment of the installments. It is good to point out that in the event of death, the bank will not be able to claim compensation from its heirs.

Timing and method of delivery from the time of approval of the file
In case of approval of the request, generally the sum will be paid in 24 / 48h on the current account indicated during the signing of the contract. This type of financing is part of the so-called “Fast Loans”. The sum of money will be credited to your current account. The charge will be automatic and monthly .

Example of financing with calculation of the installment.

Example of financing with calculation of the installment.

The Astro Finance website allows us to use a financial simulator to define the characteristics of our loan. The use of the service is free and does not require registration on the bank portal. Let’s take an example of our repayment plan, assuming a loan of $ 20,000 paid for the purchase of a new car without taking out insurance. The solution chosen is the one recommended by the system:

  • The amount of all installments is equal to $ 279.70, inclusive of TAN and APR.
  • The duration is 96 months, or 8 years.
  • The interest rates applied are: 7.70% of TAN and 7.90% of APR .
  • The total that we will reimburse to Astro Finance will be $ 26,851.2, of which the interest is $ 6,851.2 .

How to apply for the Astro Finance Tempo Libero loan

How to apply for the Astro Finance Tempo Libero loan

The request for the Astro Finance Tempo Libero loan can be sent to the bank through the online channel – or through their website – or through the Astro Finance agencies located in our territory.

Astro Finance bank, offers a chat service that will provide assistance throughout the procedure – if you use the online channel. The procedure to follow consists in filling in a form. All documentation will be signed online by means of the Digital Signature, which will be created at the time of subscription through an automatic and simple procedure.

Summary of the most important features

Summary of the most important features

To fix key points.

Loan details  
Amount to be requested From 1.000 to 60.000 $.
Maximum duration of funding 108 (9 years).
Guarantees required The opportunity to prove one’s income.
Refund procedure Debit on bank account.
Insurance Optional.
Type of rate applied Fixed rate.
Astro Finance “Loan Free Time”