Mini guide to the small Government Agency loan
The small Social Institute ex Government Agency loans are products designed to facilitate public employees and retirees who face sudden expenses. Characterized by short durations, these products give access to relatively low sums. In this study we will deal in detail with the conditions of the small Social Institute loan rate, amounts and expenses applied.
Small loans can last 12, 24, 36 or 48 months. For the purpose of accessing credit, it is not necessary to specify the reason why the loan is requested. These credit lines can only be obtained by those who are registered in the Unitary Management of credit and social benefits (Social Institute credit fund).
The sum that can be financed is defined on the basis of the pension or monthly salary received by the applicant. For each year of duration, it is possible to obtain a sum equal to a monthly salary or pension received by the applicant.
Those who do not have payroll or pension deductions in progress can also apply for double monthly loans. In this case the sum that can be financed is equal to two months’ salary or pension.
Small loan interest rate
Let’s move on to the small loan interest rate Social Institute issue. The Tan applied to the small loan is always fixed at 4.25%. However, for the purposes of defining the Taeg (Annual percentage rate of charge) it is also necessary to consider the administration costs and the premium for the Social Institute Risk Fund.
Administration costs are defined with the application of a rate of 0.5%. As regards the Risk Fund premium, the rate to be used is defined on the basis of the age of the applicant and the duration of the loan.
The complete list of the rates provided for the Risk Fund is attached at the end of the Social Institute Loan Regulations, present in Pdf format on the Social Institute website.
Small loan installment calculation
Those who wish to know the conditions in detail can carry out a simulation of the Social Institute loans. Procedure that can be carried out directly online using the service on the Social Institute website.
The simulator is accessible without having to log in with Pin Social Institute. To reach the service it is necessary to connect from the home page and click on the link All services.
Once on the page where all the services are listed, simply filter the results by theme, choosing the Loans item from the appropriate field. The service is called Public Employee Management: simulation of small loan calculation and multi-year loans.