Consumer loan Working Mom

The Working Mom consumer loan is intended for the payment of eligible childcare costs (public or private kindergarten, organised childcare). It is divided into two stages:

• Drawing – from 12 to 60 months and 
• Repayment – over 12 to 107 months.

Drawing stage: If you meet the loan conditions and have a transaction account opened with Intesa Sanpaolo Bank d.d. to which your regular monthly income is credited, you are eligible for a loan that you can draw from 12 to a maximum of 60 months. 
The maximum drawing period depends on the age of the child, which must not exceed 36 months on the day the loan agreement is concluded. 
You will be able to draw the loan every 6 months (a visit to the branch is required). Funds will be credited to your transaction account upon each drawing.  
The amount of the loan depends on the childcare costs that you pay (public or private kindergarten, organised childcare), your creditworthiness and the loan drawing and repayment period.  
The maximum loan amount is EUR 15,000 and the minimum is EUR 300.
Read more in the section “Terms of drawing”.

Repayment stage: The repayment period depends on the drawing period and is 107 months maximum. The repayment stage starts at the latest in the year when the child turns 6 (or earlier).
 

A mother or a father who has reached the minimum age of 18 on the day the loan is taken out is eligible for the loan if:

• they have a child who is not younger than 11 months or older than 36 months on the day the loan is taken out and is enrolled in a public or private kindergarten or organised childcare;
• they have been employed for at least 6 months;
• they are a citizen of the European Monetary Union;
• they have a transaction account opened with Intesa Sanpaolo Bank d.d. to which they receive regular monthly income;
• only one of the parents or custodians can take out the loan.
   

The following documentation should be attached:

• identity card and bank card;
• application for loan approval;
• employer’s certificate of employment status or employment contract, which shows that the applicant has been employed for at least 6 months;
• sole proprietors: the most recent balance sheet or prepayment of income tax for persons liable for income tax at a flat rate;
• declaration of the child’s age (available at the Bank); 
• the latest (universal) payment order for payment of kindergarten or organised care or a contract indicating the amount of monthly childcare payment; 
• other documentation for determining creditworthiness (payslips or additional documentation, if necessary);
• any other documentation to verify loan eligibility (e.g. child’s identity card, birth certificate). 
   

• Proof that you are still employed (e.g. payslip or employment contract) must be submitted each time you draw the loan. If you are not employed or have not submitted proof of employment, the loan will not be drawn and will be immediately transferred to the repayment stage the following month. Proof must be delivered at least 10 days prior to the end of the month in which individual drawing is planned.
• The loan can be drawn from the time the child is 11 months old up to the year when the child turns 6.
• The funds will be credited to the borrower’s transaction account.
• The funds cannot be used to repay existing loans at Intesa Sanpaolo Bank d.d. or any other bank, nor for any purpose other than specified.
• The loan is drawn every 6 months, from and including the month in which it is taken out until the end of the drawing period. The borrower may draw the loan at least 3 times and no more than 11 times.