Multi-year Government Agency loans are a particular category of financing limited only to employees/pensioners in the public and administrative sector. They have special conditions, and to take advantage of them also public employees and pensioners must respect special terms, for example be registered in the Management of the EX Government Agency.
After the reforms carried out in 2012 by the Monti government, in fact, the Government Agency has been suppressed and has become part of the social institute. This, in turn, activated the so-called Public Employee Management, the former Government Agency. The loan rates obtained by this lender are significantly facilitated, yet not many people know about this possibility and its particularities.
There are two ways to obtain Government Agency multi-year loans. In fact, the subsidized rate loans could be disbursed by the Ex-Government Agency, today social institute, as well as by all the credit institutions affiliated with these institutions.
If the loans were disbursed by the Government Agency, they would be financed by means of the specific Credit Fund and would have all the factors, such as the interest rates, the amount, the duration and the requirements, already established and fixed for the entire duration of the loan.
If the loan were disbursed directly by the credit institutions, the conditions would still be somewhat facilitated, even if they vary from bank to bank.
Multi-year Government Agency loans are financed directly by the Credit Fund, just like small personal fast loans. The monthly payment is always fixed and cannot exceed 1/5 of the salary, due to the conditions imposed by the loans with the assignment of the fifth. Payment of Government Agency multi-year loans is automatic. It occurs directly on the paycheck or on the pension slip, subject to confirmation by the employer or pensioner.
Direct multi-year loans must be requested by those registered with the Government Agency unitary management. Applicants must have at least 4 years of retirement earnings; they must also have paid at least 4 years of contributions. Public employees must have an open-ended contract. If they have a fixed-term contract, they should still cover the entire term of the loan. Multi-year loans can have a ten-year duration or a five-year duration.
The interest rate is always fixed: equal to 3.50%. To this must be added a fixed charge equal to 0.5% of administration costs. Without forgetting the risk fund premium, which varies according to the duration of the loan and the age of the loan applicant. A 5-year loan must be repaid in 60 installments; the ten-year one – in 120 installments.
To apply for the loan, you must submit the specific application form using the web. To do this, a PIN code is required, thanks to which you can connect to the customer area of the social institute website. Here you can find the form to fill in and send. Once the form is submitted, it will take some time for all information to be reviewed and calculated. Once the funding is confirmed, the applicant will receive a notice in their customer area.