Government Agency loans: is the small loan convenient?

The small Government Agency loan is one of the most widespread forms of credit in Italy. This loan is granted to public workers and pensioners including the military) by the Unitary Fund for credit and social benefits, organized at the Government Agency.

The small loan is also particularly useful for dealing with situations of immediate need for liquidity (see also I need money urgently). Not only that: among the characteristics of this type of financing stand out the highly subsidized rates and the durations, fixed on 12, 24, 36 or 48 installments, or, in exceptional cases, at 5 and 10 years, accompanied by specific reasons and documented expenses , all confirmed also for 2015.

How to get a small Government Agency loan

How to get a small Government Agency loan

To obtain a small Government Agency loan it is necessary to be in possession of particular requirements, first of all the registration to the Unitary Management of credit and social benefits, as well as a minimum of 4 years of contribution payments.

Public workers and pensioners in this category can make a request through a specific request to the provincial or territorial office of Social Institute for Public Employee Management, or through the dedicated web platform (see also Guide to online personal loan), to reduce the time of pending evaluation of the practice.

Both online and in paper form, once the application has been accepted, the small Government Agency loan is disbursed very quickly, by direct credit to the current account of the person who requested it. A financial instrument, therefore, which winks at practicality and is able to satisfy, in the short term, the liquidity needs of public employees and pensioners.

Loan duration and installment calculation

Loan duration and installment calculation

The types of amortization of the small Government Agency loan are numerous: the applicants, in fact, can apply to obtain a credit to be repaid on an annual, biennial, three-year or four-year basis or, in exceptional cases, multi-year loans with five-year maturities and decades, which further enrich the panorama of Government Agency loans.

Depending on the duration, the maximum disbursable amount is calculated which, increasingly, will be equal to 1, 2, 3 or 4 times the monthly income received (see also Loans from 10,000 euros). Furthermore, in the event that there are no pension or salary deemed due to assignments of the fifth, it is possible to obtain double figures for each category of request.
Whatever the choice on the repayment term, an annual interest rate of 4.25% will be applied to the total sum, to which must be added a percentage of 0.50% as a share for the administration costs, and one relating to the contribution of the fund risks, according to current legislation.

The amounts of the expenses relating to the administration and to the contribution for the risk fund are applied at the beginning of the contract, with a deduction on the amount paid.