Payday loans Government Agency: why choose them, installments and how to move between 4 types
Government Agency loans are particular products for employees and retirees in the public sector. It is good to underline that if you are willing to contact the Government Agency to request information on these loans, this will not be possible because the institution has been deleted for several years. The management of these particular loans has therefore passed to the (Social Institute). It is to the latter that we will therefore have to turn to request Payday loans, which we will discuss in this article.
This form of financing is very useful for coping with expenses of any kind, as it will not be necessary to specify the purpose of the same. The small loan Social Institute ex Government Agency is a form of financing based on the so-called sale of the fifth. The advantages of this special treatment are well known, and concern both the convenience of payment of installments, which will take place through direct deduction from salary or pension, but above all the ” lightness ” of installments, which will never exceed 20% of salary or of the net pension received.
The sum that we can request through the Payday loans offered by Social Institute will therefore depend on what is our monthly income and the duration we have chosen. There are four types of Payday loans that we can choose from, which provide for a repayment in one, two, three and four years respectively. The amount that we can request will be equal to our net monthly salary, which will be multiplied by the number of years in which we prefer to make the repayment. In the event that the applicant does not have other loans in progress, then the sum that he can request will be double that which has just been calculated.
Simulation small loan Government Agency: rates and estimate
If you are interested in requesting a small Government Agency loan, the best thing to do is to consult the Government Agency tables. These simple tables allow us to perform a real simulation of our financing, without the need to contact a bank or some expert in the field. On the Social Institute website, the document that we will have to consult will be the so-called prontuario. Here we will find all the information we need to evaluate the expenditure to which we will meet and compare the conditions offered with those of other companies.
In the section dedicated to Payday loans, we will find four tables, relating precisely to the four reimbursement options mentioned above. As specified in the handbook itself, the annual effective interest rate that will be applied to our loan will not depend on the duration of the loan. The rate will in fact be set at 4.25%, and therefore the repayment installments that we will calculate will also be fixed for the entire duration of the loan we have chosen.
See the tables of Payday loans Social Institute is very simple. Based on the sum we need, by performing the calculation described above we will know what are the durations between which we can choose. So what we will have to do is look for the row of the table relative to the desired amount, and immediately we will know the repayment installment that we will have to pay each month by choosing that specific duration. In the other columns we will find the amount related to the interest for deferment, the administrative costs that we will have to bear and the costs for the guarantee fund. The latter amount will depend on the age of the applicant, given that as the age increases at the time of the request, the risks to the company providing the loan will be greater.