Government Agency 2017 loan for employees and public pensioners
What are Government Agency loans: the details of the offer
In addition to taking care of the welfare of its members, the Social Institute Public Employees Management provides loans at advantageous conditions in favor of those who are part of the Public Administration. These are the so-called Social Institute ex Government Agency loans, which, however, are granted only on condition that the applicant meets certain requirements. So let’s see who can get an Government Agency Social Institute loan.
Social Institute ex Government Agency loans are divided into two categories: small loans and multi-year loans. Small loans are personal loans granted to meet daily needs and which Social Institute grants only to those who are registered in the unitary management of credit and social benefits, the Social Institute credit fund.
The multi-year loans instead are finalized loans granted exclusively to those who are not only registered in the unitary management, but can also boast at least 4 years of service usefulness for pension purposes and a minimum of 4 years of contributions paid to the aforementioned unitary management.
Social Institute 2017 loan conditions and rates
Turning to the contractual conditions, the small Government Agency Social Institute loan allows you to access sums that can reach up to 8 average net monthly salaries received by the applicant. Funding can have an annual, biennial, three-year or four-year duration.
The amount that can be financed varies according to the duration of the loan. In fact, for each year it is possible to obtain a sum equal to 2 average net monthly payments received by the applicant. The interest rate is 4.25%.
On the other hand, the issue of long-term loans is different, which are granted only in the face of certain needs falling within the cases envisaged by the Social Institute Loan Regulation. Duration and amount that can be financed vary according to the purpose of the loan.
Specifically, for multi-year loans there is a duration of 5 or 10 years and the maximum amount that can be financed is 150 thousand USD (granted for multi-year loans for home purchase). The interest rate, regardless of the duration and the amount financed, is 3.5%.
How to apply for Government Agency loans
In addition to the interest rate, a rate of 0.5% of administration fees and a premium for the Social Institute risk provision apply to the gross amount of the Government Agency loan (both small and multi-year). The latter is defined on the basis of the duration of the loan and the age of the applicant.
On the Social Institute website, the application forms for the long-term loan and the small Government Agency Social Institute loan are available in Pdf format. To download them, simply follow the path: Home – Forms – Public Employee Management – Member/Pensioner – Credit and Social Benefits.
The application must be sent electronically. Public employees must contact the Administration they belong to, while a service for sending the application online is available for pensioners.