Inpdap loans represent credit formulas presented on advantageous terms, intended for public employees or pensioners.
Characteristics and types of Inpdap loans
It is good to underline that the Inpdap no longer exists ; in fact, thanks to the approval of the Save Italy Decree, the transfer of its functions to the Inps was arranged, which represents the point of reference for former Inpdap members .
What distinguishes Inpdap loans is the status of products at favorable conditions; they can be provided by INPS or by the credit institutions that have signed agreements with the social security institution. Furthermore, the applicant must be enrolled in the Public Employee Management.
The structuring of the offer is based in particular on three products :
- small loans , a resource to be used for everyday needs;
- direct multi-year loans ;
- multi-year guaranteed loans .
The small loans allow the applicant access to a credit solution that allows them to support contingencies and urgencies. Repayment plans change from a minimum of one to a maximum of four years: 12 to 48 installments. No expense documentation is required; instead, the amounts agreed vary according to the duration of the loan and the credit profile of the applicant.
The minimum loan corresponds to a net salary or monthly salary of the employee; on the other hand, the maximum figure is reached by means of four-year loans granted to those who have no further deductions in progress for assignments of one-fifth of salary. In this case it is possible to obtain up to 8 months.
The interest rates that are applied respect some parameters:
- nominal annual interest rate: 4.25%;
- risk fund premium;
- administration fees: 0.50%.
Direct multi-year Inpdap loans
With the choice of direct multi-year loans it is possible to access a loan for personal or family needs that must be documented .
The repayment terms are two: 5 or 10 years, which respectively provide for 60 or 120 monthly installments. The beneficiaries must have 4 years of service and must be registered in the Unitary Management of credit and social services .
The taxpayer’s contract must be indefinitely; otherwise, if the student has a fixed-term contract, not less than 3 years, he / she will be able to enjoy the loan, but the installments must be settled before the end of the employment relationship and must also use the severance pay to ensure financing.
Guaranteed multi-year loans Inpdap
Among the various offers there are also long-term loans guaranteed: this is a loan guaranteed by INPS Management of Public Employees to face risks , such as the death of the member before the extinction of the assignment, the termination of service without using the pension entitlement, the decrease in the salary of the transferor.
As in the previous case, five-year or 10-year repayment plans will be issued. The amount of the installment, however, can not exceed one fifth of the net monthly salary. Furthermore, the applicant must be in service activities for at least 4 years.
No expense documentation is required; instead, a medical certification is required that certifies a healthy constitution. With regard to the interest rate, it is not possible to give an exact estimate because it is a loan granted by credit institutions and also by financial companies.
In any case, the paying agencies must clearly and explicitly indicate the Taeg. Depending on the information provided by the INPS, it should be noted that in relation to the gross amount of the concession it is necessary to keep in mind:
- 0.50% for INPS administration costs;
- interests and administrative expenses of lenders;
- Compensation premium for insolvency risk which corresponds to 1.5% for 5-year loans and 3% for 10-year loans.
How to apply for an Inpdap loan
In order to apply for an Inpdap loan, simply go to the official website of the Institute to check the section on the forms . After completing the application , you must present it to the competent provincial or territorial office . There is no documentation for the expense, nor for the production of reasons.
This particular type of loan can be repaid in 12, 24, 36 or 48 installments by repayment in cash or by direct debit to the bank or postal account of the applicant who is a worker or pensioner.
The Inpdap provides, therefore, a series of credit solutions designed for state employees or for pensioners at favorable conditions compared to other types of loans, offering a possible choice between the different types that are part of this particular financial formula.