Facilitated credit with pension check? The benefits of retired loans

Discounted loans for state and public pensioners

Discounted loans for state and public pensioners

With the Save Italy Decree (Legislative Decree 201/11), Government Agency was abolished and all services provided to employees and pensioners of the public administration became the responsibility of Social Institute. To manage ex Government Agency practices, the institute has set up a special office, which is called Public Employees Management.

The management of public employees deals both with the management of the pension fund of the former Government Agency members and with providing the services and services dedicated to them. Among these are pensioner Government Agency loans, loans at subsidized interest rates for pensioners in the public administration. But let’s see in detail what the credit lines that Government Agency pensioners can access.

Small loans which allows obtaining loans

Small loans which allows obtaining loans

Among the pensioners Government Agency loans we find the small loan, which allows obtaining loans on the assignment of the fifth repayable in 1, 2, 3, or 4 years. Accessible only to members of the Unified Management of Credit and Social Benefits, this loan provides for the disbursement of amounts defined on the basis of the pension received by the applicant and the duration of the amortization plan.

In fact, for each year of repayment, it is possible to obtain a sum equal to two average net monthly payments received by the applicant, without prejudice to the limit of the transferable portion. In the event that the member has other loans in progress on assignment of the fifth of the pension, the maximum amount payable is reduced to an average net monthly salary for each year of amortization.

A fixed interest rate of 4.25%, a rate of administration fees of 0.50% and a premium for the Social Institute Risk Fund, established on the basis of the age of the applicant, apply to the gross amount of the loan. and the repayment duration. Since they fall into the category of personal loans to obtain small Government Agency loans, there is no need to produce reasons or present medical certificates.

Multi-year loans

In addition to small loans, former Government Agency pensioners can also access multi-year pensioner Government Agency loans, loans granted by the Social Institute credit fund for actual and documented personal or family needs, falling within the cases provided for by the Government Agency loan regulation. To access multi-year loans, it is necessary to have been registered for at least four years in the Unified Management of credit and social benefits.

The duration of the loan (which can be five or ten years) and the maximum amount of the loan are defined on the basis of the reason for which the loan is requested. The loan is repaid by assigning a fifth of the salary and the repayment begins the second month following the disbursement of the sum.

The interest rate applied is 3.50%. And as for small loans, a rate of administration fees of 0.5% and a premium for the payment of the Risk Fund apply to the gross amount of long-term loans.

How to apply for loans

How to apply for loans

But how to apply for Government Agency retired loans? Application forms can be downloaded, in Pdf format, directly from the official Social Institute website. To reach the forms relating to loans dedicated to pensioners, it is necessary to connect to the Social Institute website and follow the path: “Services and Services – All modules – Management of Public Employees – Member / Pensioner – Credit and social benefits”.

For both small loans and long-term loans, the application must be sent to Social Institute electronically. To submit the request, civil servants must contact the Administration they belong to, whereas retirees must use the special online service.

Finally, as regards the documents to be attached to the request, a small medical certificate and a few income documents are sufficient for small loans. For multi-year loans, on the other hand, it is necessary to attach all the documentation certifying the applicant’s state of need. These documents therefore vary according to the reason why the funding is requested.

Credit default rises to great amount – what you need to do?

The delinquency of the credit granted by banks

The delinquency of the credit granted by banks

Savings banks, cooperatives and financial credit establishments to Spanish families and companies rose in April to 8.72%, a level that it had not reached since May 1994, which continues at its highest levels in recent years. 18 years, according to data from the Best Bank collected by bank.

According to provisional data published by the Best Bank, the delinquency of the Spanish financial sector grew three tenths with respect to the 8.36% registered in March, when it rose two hundredths compared to the 8.15% marked in February.

The portfolio of doubtful loans stood at 152,740 million USD at the end of the fourth month of the year, with which it exceeded 150,000 million for the first time since June 1996 and stood at 4,772 million above the previous month.

For their part, credit financial institutions ended last April with a delinquency rate of 8.628%, from 8.63% the previous month and with a balance of 3,529 million USD. It is striking that the delinquency of these entities dedicated to loans to acquire consumer goods such as a car or a computer is lower than that of banks.

The doubtful credit of these entities decreased slightly in April compared to the previous month, since it stood at 3,529 million, compared to 3,574 million in March. If we compare these data with those recorded a year ago, the unpaid credits of the EFCs improved by almost one percentage point, since in April 2011 they were delinquent at 9.59%.

Delinquency rate of loans granted by financial institutions

Delinquency rate of loans granted by financial institutions

The doubtful portfolio, meanwhile, fell by 314 million USD in twelve months, since in April last year the figure was 3,843 million USD unpaid. In addition, the entities as a whole had provisioned 375,810 million USD at the end of April, of which 84,287 million were to cover the loan.

The delinquency rate of loans granted by financial institutions for real estate activities reached 22.8% in the first quarter, with 67,421 million USD, the highest figure in history. The default of the promoters has more than tripled since 2008, the year in which it reached 19,416 million USD, starting an upward progression that has not yet ended. Thus, the data at the end of this first quarter is more than seven percentage points higher than the same period in 2011 (15.2%) and reflects that these companies are also facing a difficult 2012.

The balance of doubtful loans in the real estate activities section stood at 67,421 million in March, which represents an increase of more than 5,000 million compared to the end of 2011 and almost 20,000 million compared to March 2011.

Total loans for real estate activities reached 295,696 million USD, 0.8% less than at the end of 2011, and 5.2% less than the first quarter of last year.

Balance of doubtful mortgage loans

Balance of doubtful mortgage loans

Likewise, mortgage delinquency reached 3% in the first quarter, three tenths above the level reached in 2011, of 2.7%. The balance of doubtful mortgage loans reached 18,326 million at the end of the last quarter, while the total balance of loans for the purchase of home with mortgage guarantee closed at 608,763 million.

Thus, mortgage loans have decreased 0.6% compared to the end of 2011 and 0.9% compared to those signed in the first quarter of last year, clearly reflecting the drop in home sales. which, in turn, is behind the difficulties that promoters are going through.