Social Institute Government Agency payday loans: who they are for
Government Agency payday loans. With the elimination of the Government Agency, all services dedicated to employees and pensioners of the public administration have been transferred to Social Institute, which created Public Employee Management to administer them. Office that is responsible for guaranteeing and providing all the former Government Agency services.
Among these we find the small loans ex Government Agency, loans granted to employees and pensioners of the public administration to meet daily needs. These are therefore payday loans for which it is not necessary to justify the request for credit in any way.
Characteristics of Government Agency payday loans for pensioners and employees
Specifically, small loans can have a duration of 1, 2, 3 or 4 years and for each year of amortization it is possible to obtain a sum equal to two average net monthly payments received by the applicant. Amount that boils down to one month’s salary per year if the applicant has other salary or pension deductions in progress.
Public employees and pensioners registered for the unitary management of credit and social benefits (Social Institute credit fund) can apply for funding. The reimbursement takes place through monthly installments of a constant amount withheld directly from the paycheck or pension. For pensioners the installment cannot exceed the fifth part of the net pension.
We also remind you that public employees hired on a temporary basis can only access loans with a duration equal, in years, to the residual period of the employment contract. The repayment of the loan begins in the second month following the loan disbursement.
The interest rate is 4.25%, regardless of the duration of the amortization plan. A rate for administration costs of 0.50% and one for the Social Institute risk fund, defined on the basis of the age of the applicant and the duration of the loan, also apply to the gross amount of the service.
Government Agency payday loans: how to apply for funding
How to apply for funding? Public employees in service must send the application, drawn up on the appropriate form (available in PDF format in the Forms section of the Social Institute website), electronically via the Administration to which they belong. This will forward the request to the competent Social Institute provincial or territorial office.
Public pensioners, on the other hand, can submit the Government Agency payday loan application through the online service “Small loan web applications” active on the Social Institute.it portal, or by contacting a boss.
Finally, we remind you that in case of death or absolute and permanent disability contracted in service and for reasons of service, the beneficiary no longer has any obligation towards the Credit Fund. In the event of premoriety, Social Institute therefore does not proceed with the heirs for the collection of the residual debt.