Small Social Institute Loan : Rate 4.25% and Repayment in 4 Years
Posted On May 3, 2020
Small Social Institute 2016 loan for employees and retirees
The small loan Social Institute 2016 has met with great success in the financing market. The reason is simple. It is a product with a much cheaper rate than its direct competitors, but it is also a credit line that allows you to freely spend the acquired liquidity. But let’s see in detail how it works and who it is for. Further illustration at http://www.carofigliotraslochi.com/top-auto-loans-for-bad-credit-where-to-get-a-auto-loan-with-bad-credit/
First of all, we specify the beneficiaries of the Small Social Institute 2016 loan. It is aimed at public employees and pensioners belonging to the unitary management of credit and social benefits. The applicant must not provide any motivation or documentation about the expenses incurred. What does this mean in concrete terms? The beneficiary can use the liquidity obtained without constraints.
Small loan ex Government Agency Social Institute: sums and rates
The amounts are to be considered in relation to three aspects: the amount of salary or pension of the beneficiary, the duration of the amortization plan and the presence of the repayment of other loans. The amounts of the Small Social Institute 2016 loan range from one to eight net monthly payments. The repayment plan instead is structured in 12, 24, 36 or 48 monthly installments.
As regards the interest rate, we note a Tan equal to 4.25%. However, administration costs (0.50%) and risk provision premium must be added to this.
Former Government Agency Social Institute loans: the request
The request for funding varies according to the characteristics of the beneficiary. In the event of civil servants, the application must be completed using the model provided (downloadable from the Social Institute portal, Social Institute). This must be forwarded electronically to Social Institute thanks to the intervention of the reference administration.
The amount granted is credited to the bank or postal account provided by the beneficiary, while for the pensioner the IBAN is the one used to credit the pension.
Small loan renewal: how it works
The repayment process starts from the second month following the one in which the expected amount is credited. The renewal of the Small Social Institute 2016 loan is also allowed once a certain minimum repayment term has ended: half of the overall duration of the amortization plan initially envisaged.
Let’s take a concrete example. For annual loans, the renewal request can be made after 6 months. The threshold rises to 12 months for biennial loans. The same proportions apply to three-year and four-year loans.