Small Social Institute teacher loan: conditions and beneficiaries
When we talk about subsidized loans to public sector employees, we usually refer to former Government Agency members. Subjects who have the possibility to access credit on special terms thanks to the former Government Agency loans granted by Social Institute. However, teachers also have the opportunity to obtain subsidized interest rate loans, these are Social Institute school employee loans.
Social Institute loans for school employees are past loans attributable to Social Institute following the abolition of Government Agency in 2011, to which ENAM (the National Magistral Assistance Body) had previously been merged.
To benefit from these products are teachers and school directors hired at primary state and kindergartens. For access to credit, the applicant must be in service and hired for an indefinite period. Not only. The person submitting the loan request must have at least two years to retire.
Fundable amount and rate
The loanable amount of the loan is defined on the basis of the applicant’s income. In fact, it is not possible to obtain amounts exceeding two months of salary received by the applicant. In this regard, reference is made to the salary in use at the time of the request, including fixed and continuous checks.
The repayment of the loan takes place with an amortization plan that extends for 24 months. The interest rate applied (Tan) is 1.5%. The sums to be paid as interest are deducted at source by Social Institute.
Purpose and presentation of the Social Institute teacher loan application
The application for funding must be sent online to Social Institute, using the special service on the official website of the social security institution (Social Institute.it). Authentication to the Social Institute site with the Social Institute Pin is required for transmission.
However, it is necessary to clarify that Social Institute school employee loans are only granted to meet specific expenses. You can apply for one of the following reasons.
- birth or adoption of one or more children;
- marriage of the teacher or children;
- death of a family member;
- serious illness of the teacher or family member;
- purchase of the house of residence;
- extraordinary maintenance of the home;
- mortgage in progress aimed at purchasing the only home owned;
- dental care of the teacher or family members;
- transfer of residence;
- purchase of a car;
- attendance of university courses by the teacher or children.