Long-term pensioners loans government agency
Even Government agency pensioners may need to access certain types of loans, necessary to satisfy personal, medical or even family needs. Government agency pensioners have the possibility to turn to traditional banks and lending institutions, which offer interesting loan solutions, especially through management of the fifth, but one of the best solutions, is undoubtedly resort to the personal loan Government agency.
Government agency loan
The Government agency loan is dedicated to pensioners, former public workers, who are listed in the Unit for Credit and Social Services. To apply, it is necessary to be able to present the details of the expenditure incurred within 365 days of the loan.
The repayment of the amount usually takes place in 5 or 10 years, through the payment of monthly installments (starting from the month following the release of the amount). The subject, therefore, will be required to pay a total of 60 or 120 installments. The amount of the installments is measured according to the fifth assignment principle. Based on this principle, aimed at guaranteeing the sustainability of the loan, the installment can never exceed 20% of the total pension. Another advantage connected to the management through the assignment of the fifth is the convenience in the payment of the single installments. Transfers and payments are not foreseen or necessary, the payment will be made directly by the social security and the subject will therefore receive the pension already reduced by the amount due, without having to make further passages.
On the other hand, as far as the cost of the loan itself is concerned, it is worth considering that a TAN of 3.50% is applied to it, to which an interest of 0.5% and relative to administration costs can be added.
The loan request in this case can be made directly online, by visiting the dedicated area of the social security website. In this phase it will also be necessary to clarify, through self-declaration or fiscal documentation, the reason for the expense (remember that the expenses also include the possible contribution to the purchase of the house of the child) and if it is linked to medical reasons, a certificate detailed doctor. It is good to remember that it is not possible to accumulate more loans of this type unless at least 2 years have passed since the beginning of the first in the case of five-year or 4 years in the case of a ten-year term and subject to the early repayment of the outstanding loan.
The other solutions
However, retirees can decide to take autonomous roads and turn to banks or credit institutions which, among other things, are often willing to grant loans on good terms when faced with the guarantee of a certain pension slip. The search in this case can be carried out online (through comparators or specific sites) or by going directly to the branch. As usual, contacting your bank often allows you to have even more advantageous interests.
As an example, we have analyzed the Italrate online proposal to which Government agency pensioners can access. Let’s assume that the subject is evaluating a loan of around 22,000 USD, to be repaid in 10 years. The subject will be asked to pay a total of 120 installments of 241 USD each. The loan, in fact, is subject to a fixed TAN of 4.56% and a TAB of 5.84%. The example, of course, is indicative, since many factors could intervene to change the status quo.
OneCash also proposes similar solutions and allows pensioners with a maximum age of 79 to apply for up to $ 69,000. Among the advantages associated with this type of loan, we find the fact that no expense document is required. Going into more detail, we can cite as an example the case of a loan of 26,600 USD which will be linked to 120 installments of 300 USD, since the loan is subject to a TAN of 5.30% and an APR of 6.51%.