How to get a small Social Institute loan and multi-year

Government Agency financing for public employees and pensioners

Government Agency financing for public employees and pensioners

Life holds many small and large contingencies that often require an economic commitment. From this point of view, public employees and pensioners have one more opportunity than the other workers: the Small Social Institute loan ex Government Agency. What is it about? What are the advantages offered to customers? How to request it.

Small loans 2017

First of all a formal clarification. The current small Social Institute loan was once disbursed by Government Agency, but this social security institution has been canceled and its functions have been transferred to Social Institute. Hence the name Small loan Social Institute ex Government Agency.

It is a product that allows to obtain a liquidity useful to face emergencies of public employees and pensioners enrolled in the unitary management of credit and social benefits. The repayment processes are structured in 12, 24, 36 or 48 installments.

Amounts and rate

The sums vary from a minimum of one to a maximum of eight net salaries of the applicant ‘s salary or pension. As far as interest rates are concerned, the application of a nominal annual interest rate corresponding to 4.25% is arranged.

Administrative expenses, equal to 0.50%, and a premium for the Social Institute Risk Fund, which varies according to the values ​​reported in the Social Institute regulation, are added to the Tan.

Presentation of the application

Presentation of the application

Application procedures change based on the status of the applicant. If this is a member of the service activity, the applications must be submitted to the Administration of belonging, this, in turn, will take care of sending them electronically.

If, on the other hand, the applicant is retired, the applications must be sent directly electronically using the service made available by Social Institute on the official portal. On the same portal it is also possible to download the request form (in Pdf format).

Being a non-finalized financing, beyond the status of the client, this will not have to provide any expense documentation or even produce reasons or medical certificate.

How the Government Agency 2017 multi-year loan works

We remind you that Social Institute financing is not limited to the small Social Institute loan ex Government Agency. For more demanding needs, in economic terms, we have multi-year solutions, which consist of direct multi-year loans and guaranteed multi-year loans.

Direct loans make it possible to obtain liquidity in the face of documented personal and / or family needs, provided they are part of the requests set out in the Social Institute Regulation. The beneficiaries are always public employees and pensioners registered in the unitary management of credit and social benefits.

The repayment plan is of two types: five-year (60 monthly installments) or ten-year (120 monthly installments). The installment cannot exceed one fifth of salary or pension. The amounts that can be financed instead vary according to the reason for which the loan is requested, as established by the Social Institute Loan Regulation.

An annual nominal interest rate of 3.50% is applied to the gross amount of the loan . As for the small Social Institute loan ex Government Agency, administration costs are also provided (0.50%) and a premium for the payment of the Social Institute Risk Fund. The repayment of the installments takes place in the second month following that of the concession.

Secured financing

The multi-year secured loans are instead disbursed by banks and financial institutions affiliated with Social Institute, therefore we cannot determine the interest rates set by the lending institutions.

However, on the basis of the agreement signed with the Social Security Institute, banks and financial institutions that provide guaranteed multi-year loans are obliged to apply favorable interest rates to loans.

It is also necessary to specify that for the Social Institute to give its consent for the disbursement of the loan, the credit institution must indicate the APR applied. Rate which must be compared with the average rates indicated in the decree published, on a quarterly basis, by the Ministry of Economy in the Official Journal.

As the name suggests, the Social Institute guaranteed multi-year loans also enjoy a guarantee from the social security institution which undertakes to cover the financing in cases of reduction of salary, termination of service and death of the beneficiary.

How to calculate loans

How to calculate loans

Those who wish to calculate the installment of a loan ex Government Agency can use the special online simulator on the Social website. However, this is a service that only concerns loans granted directly by Social Institute, i.e. the multi-year loan and the small Social Institute loan ex Government Agency.

To access the web application it is necessary to connect to the official Social Institute website and select “Services and Services” and from here choose the “Public Employee Management: simulation calculation of small loans and multi-year loans” service.

At this point, the user must choose one of the three calculation methods made available by the institution (loan simulation; loan simulation for ideal installment; loan simulation for specific amount) and enter the required data in the appropriate form.

A loan to the client’s home without bases!

Finding a loan for a proof of your home can be problematic, although ads appear both on the internet and at traditional ad points. Loan companies encourage you to use their services in a variety of ways, often by using slogans behind an unrealistic or unprofitable proposal.

After a thorough analysis of the non-banking market, it turns out that there are not many companies offering loan delivery to the client’s place of residence. It is worth knowing that loans with home services are mainly those with an installment repayment system.

What are the new home-based loans?

What are the new home-based loans?

Loans delivered to home existed before they even went online. Currently, however, such offers are significantly different from those of previous years. New loans available on online loan services are more affordable and the rules for granting them are better understood. In general, these are installment loans. The meeting of the borrower and the lender’s representative takes place both to carry out the transaction, i.e. to verify the consumer, to sign the contract, to withdraw funds, and so that the borrower can conveniently repay the liability.

You do not need to make a transfer to pay off the loan.

It is worth knowing that home loans can be repaid directly to the hands of a loan company employee. Money obtained from a non-bank loan with home delivery can be used for any purpose. The loan amount depends on the individual situation of the borrower. The loan period is generally not longer than 48 months.

Under what conditions are home loans granted?

home loan

You can familiarize yourself with the terms and conditions of a loan company for consumers before your representative’s home visit. A loan ranking is necessary for analyzing loan parameters, and to learn the detailed policy of a non-bank institution in the field of borrowing money, you will need:

  • information in the FAQ section , i.e. answers to frequently asked questions by consumers,
  • explanations in small print at the bottom of the loan home page, especially a representative example for a loan offer,
  • information form (often found next to the loan calculator),
  • loan portal regulations ,
  • detailed regulations of promotional offers, if any,
  • loan agreement template ,
  • individually asked questions about a home loan via the contact form or a telephone conversation with a consultant.

When applying for a loan, the consumer must show that he is able to repay the liability. The requirements are generally relatively small. Debtor databases are not always checked. For a positive decision, a solid guarantee in the form of a guarantor is often enough.

Who can benefit from a home ID loan?

Who can benefit from a home ID loan?

Loan companies try to respond to the needs and expectations of consumers. With the offer, payday loans go mainly to young people who have a personal account.
On the other hand, loans that do not require the entire transaction via the Internet are a solution especially for:

  • consumers who do not trust the online way of concluding a contract,
  • people without a bank account,
  • account holders seized by the bailiff (the money from the loan would be automatically seized),
  • elderly people who do not find their place in online reality.

The formal conditions for granting a loan at the client’s home are quite similar for each lender. The loan can be granted:

  • a person between 18 and 75 years old,
  • based on a valid ID card,
  • to a person showing the ability to pay the monthly installment.

It is only important that the borrower is not in the course of consumer bankruptcy proceedings. In some cases, the loan company may expect a document confirming your address. For this purpose, for example, you can provide a utility bill.

Why is it worth using the loan offer at the client’s home?

This type of loan has several disadvantages, but the advantages convince consumers. The advantage is primarily lower requirements for the customer. There are loan companies that offer loans at the client’s home without BIK . This means that they do not judge the consumer based on the credit history obtained from the Credit Information Bureau. It is possible to obtain a loan without the ability to secure it with a guarantor.

This way of financing can be used by people in difficulty who are looking for a solution to deal with previously unpaid liabilities. Another advantage is that non-bank home -based loans do not require a personal account. Not everyone has them. Not everyone wants to provide it when applying for a loan. You can ask a company employee during a direct conversation about the details of the offer. At home, it’s easier to think about what information is important.

What are the disadvantages of having a loan at the client’s home?

What are the disadvantages of having a loan at the client

Opponents of loans and credit facilities will find minuses in each of these solutions. Not everyone is aware of the existence of a free online payday loan . Loans with access to the client’s home also have some disadvantages. Loan market specialists point to additional costs. After all, the transfer of cash directly to the customer’s hands is treated by loan companies as an additional service. Therefore, there is a fee that is imposed on the borrower. Ultimately, he can increase the cost of the loan at the client’s home by 20% on average.

The additional cost results from:

  • delivering documents and cash to the address indicated by the borrower,
  • company representative visits to collect the installment.

Standard online payday loan is cheaper because everything, both verification and repayment, is done online. Therefore, the lender does not bear the costs associated with hiring a field worker.

You should be vigilant when choosing an offer, because private loans with access to your home , i.e. those in which the lender is not a loan company and a private individual, are highly unprofitable. Busy, older, distrustful internet information technologies are a group of consumers for whom a solution such as a new home loan can be attractive.

How does the transaction work when applying for a loan at the client’s home?

The stages of applying for loans delivered directly to the customer’s hands may vary depending on the loan company’s policy. A home loan application can be submitted:

  • online
  • phone.

In case it becomes necessary to apply for a loan online, it looks like this:

Step 1 Selection of loan parameters that match the consumer in the loan calculator: amount, loan period.

Step 2. Ensuring the cost of the loan and assessing the financial possibilities to cover it.

Step 3. Going to the loan application, in which personal data and information informing the lender about the financial situation should be provided. It is worth preparing an ID card for this step, because this type of home ID loan does not require additional documents.

Step 4 Identity Verification. In this case, it is possible to use the confirmation of the data during the visit of the loan representative.

Step 5 Make an appointment for a loan company employee.

Step 6 A meeting on the loan, during which the consultant checks the person applying for the loan and asks to sign the documents. After completing the formalities, it is possible to transfer the loan at the client’s home in the form of direct cash delivery to the borrower.

The most important advantages of loans at the client’s home

Among the advantages of a loan at the customer’s home, first of all, it should be mentioned that it is a solution that is very convenient. In addition, it is a good option for those who do not want to provide their personal data in the online application. The loan at the client’s home will also appeal to those who do not have a bank account or those whose bank account was taken by a bailiff. Older people usually choose home loans because they prefer to sign contracts in a traditional way.

Another advantage of a home loan is that in this case the list of requirements for creditworthiness is much smaller. None of the current loan companies with a home loan service checks their clients at the Credit Information Bureau (BIK). Therefore, if we were not able to get payday pay due to our presence in BIK, it is worth trying to apply for a home loan.

What are the disadvantages of a home loan?

home loan

The first drawback is that a home loan is more expensive than quick online loans . This is due to the fact that the loan company must bear the costs associated with employing its representative who will come to our home and sign a contract with us. In some cases, representatives of loan companies also receive monthly installments from their clients. On the other hand, if we take an online loan, the whole process is usually automatic, and as a consequence the costs of the lender and the borrower are lower.

If we can apply for a loan via the internet, it is worth doing so. In this way we will save large amounts of money on the costs of this commitment. Many loan companies also offer their new clients their first online loan for free – then you should pay back as much as we borrowed. It is a very convenient and safe solution that is worth using today!