Are you a civil servant or retired person and do you need a loan? Here is a solution for you, the government agency loans. They are easy to obtain and, contrary to popular belief, they can be disbursed not only by the institution – through its credit fund – but also by banks and financial companies affiliated with the government agency. Loans are granted within the limits of the financial resources foreseen year by year in the Institute’s budget. The government agency provides different types of loans that differ according to the purpose of the loan and the amount requested. Each of them brings significant advantages, many of which are little known, often even ignored. Let’s find them out together.
The small government agency loans are short-term and all in all short- term loans, which are granted to respond to unexpected and / or urgent needs in which the applicant comes to pay. What characterizes these loans is the elasticity with which they are granted: a specific reason must not necessarily be provided, nor should an analytical expenditure documentation be produced, as is often required. Small loans are defined as the amount that can be requested is limited, which is equal to a maximum monthly salary (average) or pension in the case of an annual loan, up to an amount equal to four months, in the case of loans with four-year term.
Unlike small loans, they are paid in response to a personal or family need that is proven by the applicant. The events that can justify the granting of this type of loan are: natural disasters, theft or robbery, fire, purchase of the house or move, installations of renewable energy systems or their renovation and even purchase of a car. Among those of a purely personal nature: marriage, birth of children, medical treatment and others that we are not going to mention here.
Why are the concession conditions for these types of government agency loans so stringent? The reason lies in the duration with which they are paid (five to ten years) and in the really advantageous annual nominal rate.
There are phenomena that many fear being able to harm themselves and their family members. Events from which we would like to be protected, guaranteed in some way, at least from the purely economic point of view. We think of the death of the member before completing the reimbursement or termination of the service without having accrued the right to a pension or, again, the reduction of the salary. Here comes the government agency guaranteed multi-year loans. Like long-term loans, they last five to ten years, but, unlike them, the amount of the installment must be equal to one fifth of the net salary, at most. Another advantage? Early extinction is allowed.
As it is easy to understand, there are valid instruments of economic protection, taking advantage of them represents a unique opportunity which is really a pity not to take advantage of it. Relying on experts, in order to better understand their conditions and potential, is truly the best tool for protection and knowledge.
If you want to take advantage of the support of valid professionals and / or want to know more, request information by filling out the form or request a quote online. They will be at your disposal for any possible doubt. What are you waiting for?