A very large part of the Italian credit market is represented by Social Institution loans and also former Government Agency reserved for employees and retirees of public and state administrations. They are so called because these financial instruments are provided either directly by the social security institution, such as the small loan and the direct multi-year loan, or in the form of loans made with accredited banks and intermediary companies, such as the long-term loan and the transfer of the fifth. In this page we will explain in a brief way what are the most common Social Institution loans, to whom are reserved and how to characterize the methods of access and obtaining them.
Small Loan Managing Public Employees
This financial instrument is reserved for employees and public pensioners enrolled in the unitary management of credit and social services: through the Small Loan Management of Public Employees the social security institution grants to the beneficiaries small amounts on loan to be repaid in constant installments, through deduction of salary or pension. Here you can find all the details on the small loan former Government Agency, which includes this and other small loan cases that we present below.
Small Loan Magisterial Management
Compared to the previous loan, this is aimed at workers enrolled in the Magisterial Management and consists in the granting of a loan whose amount can not exceed that of two months salary. Small Master Loan Management is subject to a retention equal to 1 percent of the amount paid, with an interest rate of 1.50 percent per year. The request must be sent exclusively by electronic means.
Small Loan Management Funds Group Postal service Italy
As it is easy to deduce from the name, the Postal service Italy Small Fund Management Fund is reserved exclusively for Postal service Italy Spa employees and associates, with at least two years of service. These are small loans to be repaid in annual, biennial, three-year or four-year terms, for amounts equivalent to the monthly salary received, up to a maximum of 8, to which an APR applies, namely the Global Effective Annual Rate including all the charges tax rates of 5%.
Multi annual Loans Managing Public Employees
Among the funding provided by the Social Institution are the Multi-year Loans Management Public Employees which can be accessed by employees and public pensioners registered for the unitary management of credit and social services. Thanks to this tool workers and former public employees can borrow specific sums to meet the additional personal or family needs, to be repaid in constant installments by direct deduction of salary or social security not exceeding one fifth of the same.
Multi-year Loans Management of Postal service Italy Group Funds
When it comes to Multi-year Loans Management Funds Group Postal service Italy once again refers to a particular case that is addressed exclusively to employees of Postal service Italy Spa and related companies: the difference compared to the Small loan is that it is a loan of duration five years or ten years, and which is granted to workers within the limits of the transferable quota, equal to one fifth of the net salary.
Multiannual Loans Guaranteed Management of Public Employees
With the Multiannual Guaranteed Loans Management of Public Employees we refer to financial instruments that are partially different from those described above: the main novelty is that the loan is not paid directly by the social security institution as the small loan or the “normal” multi-year loan, but from part of financial companies accredited with Social Institution. These multi-year loans are reserved for workers registered with the Government Agency entity, which was then canceled in 2011 and merged into Social Institution.
Loans to retirees
The last Social Institution loan that we want to briefly talk about indiscriminately all former workers who can turn to banks or accredited companies that provide these loans to pensioners, whose main feature is that they are repaid through the sale of the fifth. This means that the requested sum can reach up to a fifth of the monthly amount of the social security allowance, which will be reimbursed by direct deduction. The advantage is that the sale of the fifth, in addition to being a very convenient and practical repayment method, allows you to obtain financing even for those who have been reported as protested or bad payers, and therefore would have serious difficulties obtaining a loan elsewhere. Almost all pensioners can access it, except for those with a social allowance, personal assistance allowance, income support or family allowance, or finally civil disability.