What is Credito Siciliano and How Does it Work

Credito Siciliano is a type of loan that originated in Sicily, Italy. It's a short-term loan that typically ranges from 15 to 60 days.

This loan is designed to help people cover unexpected expenses, such as car repairs or medical bills. The loan amount is usually a percentage of the borrower's salary.

The interest rates for Credito Siciliano are relatively high, often ranging from 20% to 30% per month. This can lead to a significant amount of debt if not managed properly.

To qualify for a Credito Siciliano, borrowers typically need to have a steady income and a good credit history.

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Credito Siciliano was formed on 1 July 2002 by the merger of four banks.

The new bank was owned by Credito Valtellinese for 39.43% shares, as well as through its subsidiary Credito Artigiano for an additional 35.79% shares at that time.

In 2008, the bank recorded a profit of 12.4 million euros.

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Credito Siciliano's origins are rooted in the 19th century, with Banca Popolare Santa Venera dating back to 1908 and Cassa San Giacomo founded in 1896 by don Luigi Sturzo.

The bank's name was changed to Credito Siciliano in 2002, following a merger with Leasingroup Sicilia and the retail division of Cassa San Giacomo.

In May 2018, the merger by incorporation of Credito Siciliano into Creval was approved, with the exchange ratio set at 78.35 new Creval shares.

By June 2018, the merger by incorporation into Credito Valtellinese had become effective, marking a significant change in the bank's ownership structure.

In 2021, Credito Valtellinese was acquired by the Crédit Agricole Italia group, paving the way for further changes in the bank's ownership.

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Credito Siciliano offers a range of home financing options through its partnership with the Gruppo Credito Valtellinese.

The Credito Siciliano's mutui casa are designed to cater to different needs and preferences, with options like the Creval Casa Lavori in Corso, which is a construction or renovation loan that can be disbursed in stages as the work progresses.

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One of the unique features of the Credito Siciliano's mutui casa is the Mutuo Casa Facile Tasso Variabile, which has a maximum duration of 30 years and can be paid in monthly or quarterly installments, allowing borrowers to take advantage of fluctuations in interest rates.

For those who prefer a fixed interest rate, the Credito Siciliano offers the Mutuo Casa Facile Tasso Fisso, which has a maximum duration of 25 years and provides a stable and predictable repayment schedule.

The Credito Siciliano also offers more flexible options like the Mutuo Flessibile, which has a variable interest rate and allows borrowers to adjust the repayment period based on changes in interest rates.

Here are some of the key features of the Credito Siciliano's mutui casa: