How to get loans with low rate for teachersMarch 21, 2020
How to get loans for teachers
With the elimination of the Government Agency (which took place in January 2012 following the Save Italy decree passed by the Monti government) all the services under the Institute’s responsibility have moved to Social Institute. In fact, the National Social Security Institute has committed itself to maintaining all the services and services previously granted by Government Agency. Among these we find Government Agency teacher loans, personal loans at subsidized rates dedicated to former Enam workers enrolled in the Social Institute Master’s Management.
But who can get them? Government Agency teacher loans are reserved for those enrolled in the Magistrale Management in service activities who are at least two years away from retirement and can be paid only for specific reasons.
As already mentioned, Government Agency loans for teachers are granted exclusively to meet one of the following purposes:
- birth or adoption of children;
- marriage of the member or children;
- death of a family member;
- serious illness of the member or of a family member;
- purchase of a house destined to become the principal residence of the member;
- extraordinary maintenance of the home;
- mortgage in progress for the purchase of the first house;
- dental care of the member or a dependent family member;
- transfer of residence;
- purchase of a car ;
- university study path of the member or children;
- extraordinary events that led the applicant to a state of particular economic need.
Characteristics of Social Institute personal loans for teachers
Delivered directly by the Institute, through the unified management of credit and social benefits, the teachers Government Agency loans, better known as small loans Management Science, provide for the granting of a maximum amount equivalent to two months of salary received by the applicant.
The repayment of the credit takes place through a monthly amortization plan that extends for twenty-four months. Interest calculated at a rate of 1.5% and a portion of administration and guarantee fund payments equal to 1% of the gross amount of the loan are retained in advance on the total loan amount.
How to submit the application
How to apply for Government Agency Social Institute loans for teachers? The application, with all the required documentation attached, can only be sent electronically, as required by Presidential Determination no. 95/2012. On the official Social Institute website you can consult the User Manual which illustrates how to proceed (path: “Information – Credit Activities – Loans – Small Loan Master’s Management – Documentation”).
Applications that meet the requirements are all accepted, while those with incomplete documentation are immediately rejected. Finally, we remind you that the granting of a new Magistral Management loan is subject to the extinction of the previous one. Furthermore, it is not possible to combine the financing with small loans granted by other entities.