When talking about a small government agency loan, an important clarification is required. First of all, it must be remembered that the government agency, acronym of “National Social Security and Assistance Institute for Public Administration Employees” is an entity that was suppressed in 2011 and whose services were taken over by INPS. In the light of this change it would therefore be more correct to speak of ex-government agency financing, and it is indeed what we will do below, with a brief guide to the small loans made available by the pension fund.
- 1 What are small loans
- 2 Small Public Lending Loan
- 3 Small Loan Fund Management Poste
- 4 Small loan Magistral Management
What are small loans
In the vast panorama of financing, different types can be found, which vary according to the duration of the amortization plan, the purpose of use of the capital and the entity of the amounts disbursed. When the liquidity obtained by the credit institution is kept within limited amounts and when the duration of the loan is medium or short term, it usually refers to small loans. The advantage of this modality consists in the immediacy of the disbursement of the capital (are not usually required reports and the requirements are not particularly rigid), which can then be used freely for the purchase of services or consumer products, returning the sum for by means of comfortable monthly installments.
Small Public Lending Loan
The INPS (let us remember: ex-government agency) may grant small sums on loan to the members of the so-called Credit Fund. This is a fund on which contributions are paid by employees and retirees, and which is used for loans such as small ex-government agency loans. The recipients of this line of credit are the public employees still in service (who are compulsorily enrolled in the Fund) and the pensioners who have joined the Credit Fund. With this method, you can receive sums equivalent to the monthly salaries or the pension contribution, up to a maximum of 4 monthly payments. The duration of the amortization plan ranges from a minimum of 12 installments up to a maximum of 48 monthly installments, to which a TAN of 4.25% is applied. With regard to the costs of this small loan, administrative expenses of 0.50% of the amount paid are envisaged. If there are no further deductions on salary or pension, the loan can reach the equivalent of a maximum of 8 monthly payments.
Small Loan Fund Management Funds
Similar conditions are also reserved for applicants who wish to benefit from the small loan from the Gestione Fondi Poste, a loan dedicated to employees still active at the postal institute and with at least two years of service. In this way, equivalent amounts can be requested for the monthly salary received, up to a maximum of 8. An APR of 5% is applied to the sum obtained, and the amounts can be returned with plans of different durations, which vary from a minimum of one year up to a maximum of four depending on the amount requested.
Small loan with masterly management
This solution is reserved for members of the former ENAM (“National Authority for Magistral Assistance”), merged since 2010 into the government agency and therefore now the responsibility of the INPS. For this category, the small loan cannot exceed the equivalent of two monthly salaries and will be subject to a deduction equal to 1% of the amount disbursed. As for the expected interest rate, this is around 1.50% per annum. The sum can be requested to meet the costs of a new birth or adoption, to organize a marriage (or that of the children) and for other family eventualities. Funding is also provided for the purchase of a car, for enrollment in the university of children and for the coverage of dental expenses.
The request for these small loans must be made exclusively in electronic format, by completing the appropriate form which can be found on the INPS official website. Still in the pages of the institute, you can find more information on this type of financing, on the costs and on the conditions offered.