Small loans: the complete guide to the small loan
The Small Loan is a form of financing dedicated to public employees and retirees enrolled in the unitary management of credit and social services, who have paid the contributions to Government Agency during their working career. This type of loan, which is fully included in the category of personal loans, is particularly suitable for dealing with small urgent or unforeseen expenses, with variable payable capital based on the budget availability of the provider.
The installments to repay the sum disbursed can then be directly withdrawn from the monthly salary or from the debtor’s pension, generally starting from the second month following the loan, for a period of time ranging from 1 to 4 years. depending on the size of the amount paid and the amount of the installments themselves.
One of the main advantages of the Small Loan consists of a particularly advantageous interest rate for the applicant, which is generally around 4%.
Small loan, the required requirements
To obtain a Small Loan, in addition to being or having been an employee of the public administration and having a solid and documented economic position that guarantees the provider the return of the capital paid, it is necessary to be in possession of some requirements:
- be enrolled in the unitary credit and social services management
- having paid contributions to the social security institution regularly
- be resident on the Italian territory
- be between 18 and 70 years old
Regarding the documentation to be presented to request a Small Loan, let’s start by saying that, being a loan not finalized, it is not necessary to present any document that justifies the reason for requesting the loan. However, the following documentation must be shown:
- a valid identity document
- a certificate attesting to your earnings position
- pay slip
- the pension slip with regard to the Small Loan Government Agency
Small Loan, how to request it
To request a Small Loan, the public employee must simply submit his application through the appropriate forms, made available by the provider. The employee in service, in particular, can then submit his / her application, complete with all the documentation, to the competent Territorial Offices.
How to apply for a Small Loan Government Agency
The public pensioner to request a Small Loan Government Agency can instead submit its application directly to the provider.
Alternatively, you can use the online service available in the reserved area of the NoiPA website, which can replace the traditional modality of request of the Piccolo Loan Government Agency. In this way, easy and safe, it is possible to present the loan application, fill out the online form in which all the information available on the information systems of the Stipending Services are already contained and certified and carry out loan simulations regarding the loan amount, installment amount and loan term, all guided by a convenient online procedure. Furthermore, once the request has been submitted, it is possible to monitor the progress of the application online.
To access this online procedure, accessible from any PC, it is necessary to have your own personal code (PIN) or the National Service Card (CNS)
Small Loan, what is the maximum payable capital
The maximum capital payable for the Small Loan varies according to the duration of the applicant’s contract. For example, for a public administration employee with a 12-month contract, the maximum payable capital is equal to a net monthly salary, but if he does not have any other financing, he can request a capital equal to two monthly salaries. If, on the other hand, the public employee has a 36-month contract, for example, the maximum payable capital will be equal to 3 net monthly salaries, which can also double in this case, reaching 6, if the applicant does not have other types of financing or salary-backed loan.
Small Loan Government Agency, what you need to know about payable capital
Thanks to the Small Loan Government Agency a maximum capital of 5,000 euros can be paid, but in some cases it is possible to obtain a higher figure based on one’s monthly salary. Usually this amount is credited to the applicant’s current account, and the monthly installments of the repayment plan will be applied from the same current account.
The Small Loan Government Agency can be provided in two ways:
- direct disbursement: in this case it is Government Agency that disburses the required capital, drawing directly on its own funds available for this purpose;
- Indirect disbursement: through the funds of banking institutions with which Government Agency has an agreement.
However, choosing one mode rather than the other does not make any difference to the applicant.
Government Agency Small Loan with salary-backed loan
The Small Loan Government Agency can also be granted with the assignment of one fifth of one’s salary or pension: in this case the monthly installments to repay the disbursed capital are deducted directly from the debtor’s salary or pension and cannot exceed one fifth of his monthly salary. The interest rate in general is convenient because the risk of insolvency is very small but changes anyway based on certain factors, such as the age of the person requesting it; certainly, however, it is a convenient solution for those who are afraid of forgetting the expiration of monthly installments.
Finally, the amortization plan of a Small Government Agency Loan with a salary assignment can have a maximum duration of 10 years.