How to face important expenses with Government Agency multi-year loans
Subsidized loans for public employees and pensioners
Are you a public employee or pensioner and do you need subsidized liquidity? With Social Institute Government Agency multi-year loans you can get really competitive repayment terms and a five-year or ten-year repayment plan (60 or 120 installments).
Social Institute Government Agency multi-year loans can be obtained provided that the applicant’s needs are compatible with the provisions of the Social Institute Regulation ex Government Agency.
There are many admitted purposes, from the purchase of a first home to its ordinary maintenance, through marriage and the birth of the child. These are just a few examples, for all purposes we refer you to the official Social Institute website.
The beneficiaries of the Social Institute Government Agency multi-year loans are public employees and pensioners registered in the unitary management of credit and social benefits. The applicant must have an open-ended employment contract.
For applicants with a fixed-term contract (not less than three years), the application is allowed as long as the contract is active during the entire repayment period. Not only. The beneficiary must provide the severance indemnity as a refund guarantee.
Amortization plan and repayment terms
Social Institute Government Agency multi-year loans are products based on the sale of the fifth. This means that the installment cannot exceed 1/5 of the monthly net allowance, be it salary or pension. Monthly installment which is automatically deducted by the employer.
As for the amount that can be financed, this varies according to the reason for which the loan is requested. For example, if a loan is requested for the purchase or construction of the first house, it is possible to obtain a sum of $ 150 thousand. Sum representing the maximum limit set for these loans.
Let’s move on to the key aspect of each loan, the interest rate. A Tan is applied corresponding to 3.50%, but to this must be added administration costs, equal to 0.50%, and risk provision premium.
How to submit the application
The request for access to credit must be sent electronically, using the online services of the Social Institute portal (Social Institute.it). The Multi-year Loans Web Questions feature should be used.
The application forms are accessible directly from the official Social Institute website. To download and fill them in digital format, simply connect to the official Social Institute website and follow the path “Home – Services and Services – Public Employee Management: small loan calculation simulation and multi-year loans “.
As regards the forwarding of the application, this must be done electronically. Public employees must contact the Administration they belong to, while pensioners can use the special online service to submit the application.
Other subsidized loans granted by Social Institute
We would like to remind you that the Social Institute Government Agency multi-year loans are just some of the subsidized rate solutions aimed at public employees and retirees enrolled in the unitary management of credit and social benefits.
To deal with small daily incidents, we advise you to evaluate the opportunities presented by Small loans ex Government Agency Social Institute. These can be obtained without motivating or documenting the expenses to be incurred and foresee a maximum sum equal to 8 monthly salaries or pensions received by the applicant.
Social Institute ex Government Agency mortgages are products aimed at those who intend to buy, build or renovate their home. the maximum amount that can be financed is equal to $ 300 thousand while the interest rate can be fixed or variable. Social Institute mortgages can last from a minimum of 10 to a maximum of 30 years.
For more information on these and other ex Government Agency products (pension fund suppressed and whose credit functions have passed to Social Institute) we recommend you visit the portal Government Agency.