The advantages of the small four-year
Small loans are low-value loans dedicated to those who need small amounts with which to face unexpected expenses or for specific projects (travel, medical treatment, etc.). Numerous lenders offer small loans, but there is no offer on the market that is comparable to the four-year Government Agency loan.
This is a credit line granted by Social Institute through Public Employee Management, a section used to administer ex Government Agency services which was absorbed by Social Institute in 2012. Small Social Institute loans ex Government Agency are accessible only to public employees and pensioners enrolled in a specific Credit Fund (the Unitary Management of credit and social services).
Small loan rate, amount and online application
The small four-year loan allows you to obtain a sum equal to eight months of salary or pension received by the applicant. In the event that the applicant has another loan in progress, the maximum amount that can be financed is equal to four months of salary or pension. The interest rate (Tan) is 4.25% and a 0.5% rate is applied to the gross amount of the loan for administration costs.
The amortization plan for the four-year Government Agency loan (as can be seen from the name of the product) has a duration of four years. It provides for monthly installments. In addition to the charges mentioned above, the beneficiary must pay Social Institute a premium for the Guarantee Fund. The value of the prize is defined at a variable rate based on the age of the applicant.
The loan request must be sent electronically using the Social Institute online systems. Specifically, pensioners can send the application autonomously through a web application accessible with Pin Social Institute authentication, or by resorting to the assistance of intermediaries authorized by the institution. The procedure is different for civil servants in service, who must contact the Administration they belong to.
Early repayment of the loan is allowed at any time, while renewal is possible only on condition that a minimum amortization period has elapsed. The public employee or pensioner who has an Government Agency four-year loan can in fact request renewal after having paid the amortization installments for at least 24 months.