State pensioners, who are members of the famous Italian social security institution Government agency, now have the opportunity to receive various types of different loans, which have interesting benefits and which provide much lower interest rates than those that usually they are offered by the loans given by normal credit institutions. These types of loans for state pensioners are disbursed in two different ways depending on the applicant, or directly from the Government agency, through the customer’s credit fund that takes the official name of “Unitary management of credit and social benefits”, this loan can also be provided by credit institutions or financial institutions that have an agreement with Government agency.
The four different types of Government agency loans for state pensioners
Specifically, all state pensioners who need access to extra credit have the opportunity to choose between four different types of funding, let’s see together what they are and how they work. Let’s start by talking about small Government agency loans. This financing is in practice an excellent personal loan to meet urgent liquidity needs when expenses are not too large. This is a loan that provides a fixed rate, which lasts from 12 to 48 months and allows you to receive a sum of money that can vary from 1 to 8 months of your pension net. Its fixed interest rate that is applied is 4.25%, to which is added the 0.50% to cover administration costs and what is called the “risk compensation premium”. This is a non-finalized loan, in fact it is not necessary to indicate the reason for the request for credit, and it is not necessary to deliver a documentation of the expenditure made with the money received. A second choice available is the direct multi-year loan.
In this case we are talking about a personal loan that can solve spending needs for various purposes which can also have a very high cost. This time it is a purposeful loan whose expenditure purpose must be part of the case studies that are present on the Government agency regulation and, subsequently, the expense of the received sum must be documented at the institute. A third loan that state retirees can choose is the Astro guaranteed many years.
This time we are talking about a loan that sees the use of the sale of the fifth of the pension which is given by the Government agency and which provides for an insurance policy as regards the risk of premature death of the loan holder. This type of financing is not granted to the customer directly by Government agency but is granted by some affiliated credit institutions and can have a duration ranging from 5 to 10 years.
The sum that can be obtained depends on how much the pensioner receives each month with his pension and the interest rate that is applied changes according to the budget that is chosen. Finally, let’s talk about the mortgage loans that the state pensioners can get, for example the first house appears, has a variable duration ranging from 10 to 30 years, and the maximum amount payable is very high, in fact it reaches 300,000 USD. Very advantageous interest rates are applied to it.
Final considerations on loans for state pensioners Government agency
Every type of financing we have spoken of can be requested both by retired individuals who are enrolled in the Government agency credit fund but also by the families of these persons. Every type of funding that is provided directly by the Government agency Credit Fund sees some budget limitations with regard to the fund and is only given if the availability of money is sufficient to satisfy all the requests received.