Loans of Social Institute Ex-Government Agency management
From January 2012, Government Agency, the National Welfare Institute for Public Administration Employees, was officially merged into Social Institute. The Government Agency has always been (and continues to be, in its new form) a fundamental social security hub for public employees, offering services of great value to members of the autonomous management of credit and social services. In addition to “standard” activities such as the provision of pensions and the payment of end of service (or relationship) benefits, Social Institute Gestione ex Government Agency also provides financial services on particularly favorable terms, such as loan and mortgage loans managed through the fund entity.
Here is a list of opportunities available to civil servants looking for funding.
- Small loans: Government Agency members (employees or public pensioners) who need a small amount of money to meet unexpected needs can access it. The duration of the loan varies from 12 to 48 months and to make the request it is not necessary to present documentation of expenditure, specific reasons or medical certificates. On the gross amount of the disbursement, the TAN is 4.25% and administrative expenses are 0.50%. The sum to be requested varies from one to two months of salary or pension for each year of loan duration. The loan can be renewed once half of the repayment period has passed.
- Direct multi-year loans: these are loans with a duration of 5 or 10 years, provided to meet personal or family commitments of various kinds. Government Agency members can access it with at least 4 years of contributions from the management fund and, if employees, with a permanent employment contract. The repayment is made with a monthly payment of the maximum amount equal to one fifth of the salary or pension. In this case, the cost documentation is required for the concession, in addition to the documentation indicating the state of necessity and a certificate of sound physical constitution. The Tan of loans with direct sales is 3.50%.
- Guaranteed multi-year loans: these can be requested by Government Agency members currently in business and with at least 4 years of useful retirement benefits. The providers are financial companies accredited by Social Institute Gestione ex Government Agency, and the loans are guaranteed against the risks of the death of the creditor, termination of the service and reduction of the salary. As for direct sales, the duration varies from 5 to 10 years and the reimbursement is made through monthly deductions not exceeding one fifth of the salary. Expenses include the interest rate set by the financial company, administration costs of 0.50% and a premium to cover insolvency risks of 1.5% for five-year loans and 3% for ten-year loans. The applicant does not have to present cost documentation, but a medical certificate of sound physical constitution is required.
For information on Social Institute loans with salary-backed loans and on the timing of disbursement of the Social Institute loan pursuant to Government Agency, consult the section on the sale of the fifth for Social Institute pensioners on Facile.it. It is also possible to compare the Social Institute small loan tables to access all the details of the financing.