Facilitated credit with 3.5% rate. All the Government Agency advantages

What are ten-year loans

What are ten-year loans

The management of public employees of Social Institute takes care of providing the services dedicated to ex Government Agency members. Among the various services aimed at pensioners and employees of the public administration we find Government Agency loans, loans granted at subsidized interest rates compared to those offered by the traditional banking circuit.

Government Agency subsidized loans, disbursed by the Social Institute (Unified management of credit and social benefits) loan, are divided into multi-year loans and small loans. Small loans have a maximum duration of 4 years, while multi-year loans can have a five-year or ten-year amortization plan.

The requirements of small loans

Who can get ten-year Government Agency loans? The ten-year multi-year Government Agency loans are accessible to all subjects registered for the unitary management of credit and social benefits for at least four years.

In order to obtain funding, applicants must also have a length of service useful to the pension of not less than four years. Government Agency ten-year loans can be applied for by both pensioners and employees of the public administration hired with an open-ended employment contract.

In the event that a public employee with a fixed-term contract applies for the loan, however, it is still possible to access the credit. In this hypothesis, in fact, Social Institute grants, when possible, extensible long-term loans during the period of validity of the employment contract. However, this possibility is only dedicated to civil servants with a contract of no less than three years.

Purpose of ten-year loans

Purpose of ten-year loans

Government Agency multi-year loans are granted only in the face of an effective and documented personal or family need of the member, falling within the cases provided for by the Government Agency Loan Regulations.

Among the various purposes of Government Agency ten-year loans we find the purchase or construction of the house destined to become the residence of the member. Loans are also granted to finance extraordinary maintenance, restoration, building renovation or conservative restoration of the house owned or in bare ownership.

Ten-year loans can also be obtained for the redemption of public housing, or owned by public bodies, already leased, as well as for the acquisition of a cooperative house, or by a cooperative consisting of tenants of houses of public bodies in course of disposal.

Those who apply for credit for early repayment or the reduction of a mortgage loan signed by the former Government Agency member or spouse also have access to ten-year Government Agency loans.

Ten-year loans are also granted for serious illness of the applicant’s family members or exceptional cases not foreseen in the Government Agency loan regulation, but socially relevant and which require a significant economic commitment.

Rates and charges applied to loans

As regards financing costs, an interest rate of 3.50% is applied to the ten-year Government Agency loans for the entire duration of the repayment plan and a rate of administration costs of 0.5%.

The loan is also subject to a share for the Social Institute Risk Fund, which varies according to the age of the applicant at the time of signing the contract.

Presentation of the application

Presentation of the application

But how to apply for the loan? The Government Agency application for ten-year loans must be completed using the appropriate form, available in the “Forms” section of the official Social Institute website (path: Home – Forms – Management of Public Employees – Request for services – Credit and social services).

The Government Agency application for ten-year loans must be accompanied by documentation certifying the applicant’s state of need, which varies according to the purpose of the loan, and a medical certificate attesting to the applicant’s sound physical constitution. The certificate must have been issued by a medical officer in service or by a doctor of the ASL no later than 45 days before the date of submission of the application.

Finally, as regards the presentation of the loan application, this must be sent electronically. Civil servants must therefore contact the administration they belong to, while retirees must use the special online service.

300 dollar loan without interest

How times have changed and how empty your pockets are! A few years ago, 300 USD could seem like a not too high amount of money. If we had to pay that amount, for example, pay a fine, pay the dentist or buy glasses; better or worse, but it was paid and that’s it. Then the crisis came. Stay with us. And now spending that amount can be a real headache for many families. So much so that they even ask for a loan of 300 USD.

We have talked in this blog on many occasions about the large number of lending companies that, in recent times, have gained their place in the market thanks to the fact that they sell fast loans with little paperwork or bureaucracy. 15 minutes, in the best case, is what we can take to have the requested amount entered into our bank account.

But the last cry is the companies that grant little money, for example, a loan of 300 USD, without interest. In just 10 minutes we can have them in our possession without having done a single paper and without having to pay interest. Sounds nice, right?

Companies that grant a loan of 300 USD

Companies that grant a loan of 300 USD

Currently there are four companies that grant a loan of 300 USD without interest in Spain.

  1. Kredito24: allows you to request up to 750 USD and they will not charge interest as long as the amount is returned, at most, in seven days.
  2. Creditomas: up to 400 USD without interest if it is returned within a maximum period of 30 days. The money takes 15 minutes to reach our account.
  3. Solcredito: in this case the maximum limit that can be requested, to avoid having to face interest or commissions, is 600 USD. The return period is also set at 30 days.
  4. Vivus: without interest you can not ask for more than 300 USD. To return it we will have a maximum of 30 days. It is the customer who chooses the return period. From seven to 30 days.

The trick of companies that grant a loan of 300 USD

The trick of companies that grant a loan of 300 USD

So far, everything is perfect, but nobody gives pesetas hard. Where is the business of these companies? Firstly, that the interest-free conditions only apply to those who request the first credit in the company. In other words, on the one hand, they manage to attract new clients who, if they need a loan again in the future, are more likely to return and, in addition, take away clients from the competition.

Also, these companies that grant a loan of 300 USD do not include interest if the money is returned within the stipulated period. But if we spend only one day, the surcharge will be really important. What was said. No one here gives away anything.