Questions and answers to the most frequent loan doubts

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Today we want to address the issue of loans with you. What are we talking about? Of a type of loan disbursed not by a credit institution but by itself, or the National Welfare Institute for Public Administration Employees, an integral part of the well-known INPS. But how exactly does this credit line work and how can it be requested? These and other questions will be answered in this practical guide.

What are the type of loans?

What are the type of loans?

The types vary according to the specific financial needs to be met and are differentiated on the basis of the disbursable capital, the duration of the amortization plan and the repayment method.

  • Small loan : personal loan of up to 5,000 euros. The duration of the amortization plan is between 12 and 48 months.
  • Mutuo : mortgage loan with a maximum duration of 10 years. works not only as a provider but also as guarantor of the loan.
  • Financing for restructuring : a solution that offers up to 300,000 euros to be repaid from 10 to 30 years.
  • Car loan : up to 100,000 euros with an interest rate of 7.50%.
  • Loan for marriage children : up to approximately € 15,500 upon presentation of an estimate of expenses.
  • Loan with salary assignment : up to a maximum of 1/5 of the monthly salary. The repayment cannot extend beyond 120 months.

How to choose the right loan?

How to choose the right loan?

When the subject matter concerns one’s finances, questions and doubts are the order of the day. If this were not the case, a serious subject such as a loan would be wrongly taken into account. Here therefore clarified here the most frequent question marks.

Who can apply for an loan?

This is a credit solution reserved exclusively for employees, former employees and retirees of the public administration . The conditions to be met are:

  • Be enrolled in the management of social credit benefits .
  • Pay the contributions to the national pension fund.
  • Having an aged between 18 and 70 years.
  • Reside on the Italian territory .

What documents are needed?

What documents are needed?

The loan application will be accompanied by:

  • Last paycheck or last pension slip.
  • Current identification document.

When can I apply for an loan?

After 24 months of service as an employee and the payment of the related contributions.

Is the interest rate cheap?

Yes. Indeed, it is facilitated. Why? Because does not need guarantees on returns. In the event of insolvency, in effect, it can draw on the contributions paid, the TFR available and the salary of the borrower. For small loans with a repayment up to 2 years, the interest rate is 3.50%, while for loans with repayment over 2 years it is 4.25%. With regard to mortgages, we are dealing with a fixed rate of around 4.15% and a variable rate of around 3.75%.

Am I required to declare the purpose of the loan?

No. The loan is not finalized and does not require the presentation of documents that prove the use that you want to make of the capital.

My monthly income is low: can I get a loan?

Yes. The product for these cases is the small loan, which offers a rate of 4.25%.

Can I repay the capital in more than 10 years?

Yes. If your needs so require, it is possible to agree on an amortization plan lasting more than 10 years, with a consequently reduced monthly payment.

Can I apply for a loan for a family member?

Yes. The recipient does not need to be the loan applicant. actually offers subsidized loans, for example for scholarships and stays abroad for children of members of social security.

Can I request a loan with an installment exceeding 1/5 of the monthly salary?

Can I request a loan with an installment exceeding 1/5 of the monthly salary?

Yes. The solution in this case is the loan delegation of payment . The employer will automatically deduct the amount, but unlike the fifth assignment, he can decide whether to accept or refuse this type of commitment.

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