Your working condition is a determining factor in the choice of financing. Today we discover one of the best products that the loan market can offer teachers: Government Agency loans for teachers 2017. What is it, what rates do they foresee, how to request them and what are the requirements? Let’s go into the details of this proposal.
What are loans for teachers under Enam 2017
With the elimination of the Government Agency, the Social Institute has absorbed all the functions of the institution including the loans at subsidized rates disbursed by the Government Agency in favor of the members of the public sector. Among these we find Government Agency loans for teachers.
What we are going to deal with from a formal point of view is called Small loan for members of the Magisterial Assistance Management. It is an advantageous proposal but requires respect for various access restrictions. Let’s go straight to the merits.
Who can get funding? The Social Institute loan for teachers (Small Master’s Management loan) is accessible to all Enam members and allows you to take advantage of a small sum with which you can face expenses of various kinds.
Unlike what one might think, Government Agency loans for teachers are granted only for certain purposes. It is therefore the regulation drawn up by the pension institution that determines the circumstances under which access to finance can be achieved.
The purposes set out in the Regulation
In fact, those enrolled in the Ex Enam Management can apply for Government Agency loans for teachers only for one of the following purposes:
- marriage of the applicant or a child;
- death of a family member;
- birth or adoption of a child;
- serious illness of the applicant or a family member;
- mortgage in progress for the purchase of the only home;
- dental care of the applicant or a dependent family member;
- transfer of the member;
- purchase of a car;
- university expenses of the member or of a child;
- purchase of the house destined to become the main residence of the applicant;
- extraordinary maintenance works on the home owned by the applicant.
Government Agency loans for teachers are also granted in the event of extraordinary events which determine a particular state of economic need for the applicant.
The interest rate 2017
We also remind you that for the purposes of access to credit, the applicant must be in service and must retire at least two years.
As regards the contractual conditions, Government Agency loans for teachers allow access to a rather limited maximum amount. However, it is consistent with the nature of the loan.
The maximum sum is in fact equal to two average net monthly payments received by the applicant. Continuous and fixed checks are also considered for the purpose of calculating monthly payments.
Teacher loans are repaid with a monthly installment repayment plan that spans two years (24 installments).
The interest rate is 1.50% and on the gross amount of the benefit, a 1% portion is also retained in advance for the payment of administration costs and the premium for the Social Institute Guarantee Fund.
The steps to follow to get the small loan
How to apply for Social Institute loans for tenured teachers? The application for funding must be sent to Social Institute by electronic means accompanied by all the required documentation. The reference point is the online services of the Social Institute portal.
Also on the official Social Institute website, it is possible to consult the User Manual which explains the steps to be taken to forward the loan request.
The application procedure must be handled with care because any incomplete application will be rejected. Finally, we remind you that cumulation with other funding provided by other entities is not allowed.