It is not uncommon for us to face unexpected expenses that we do not know how to deal with, or to want to organize a holiday with the family but not have the necessary liquidity available. In these cases, a small public loan is ideal for immediately having money for our needs and not being forced to choose between amounts that are too high for what you really need.
Who and how can take advantage of a small public loan
All those enrolled in the unitary management of credit and social benefits, therefore both employees and public pensioners, can take advantage of a small public loan. The loans granted are linked to individual months and can affect up to 4 net months of salary or pension. Depending on the sum and the months chosen, the repayment of the debt is calculated in 12 installments for annual loans and 24 for biennial ones. If you turn on a loan calculated on 3 months’ salary, the installments will be 36, or 48 for four-year loans. The small loan for the former public management also provides for the possibility of requesting a loan considering a double monthly payment: therefore, there is talk of a maximum of 8 net monthly payments to be repaid in a maximum of 48 months.
This is only possible if there are no other monthly deductions from salary or pension; in any case, retirees are entitled to a maximum deduction of one fifth of their pension. Temporary civil servants can also access the small public loan, but only for the period missing after the termination of the employment relationship with the public body. The small public loan can be renewed as soon as the amortization period is reached, which corresponds, depending on the loan requested, to 6, 12, 18 and 24 months and is also taken into account in the event of early debt repayment.
How to apply for a small public loan
To apply for a small public loan, civil servants enrolled in the unitary management of credit and social benefits must apply by filling out a form that can be downloaded directly from the social security.it website and submitting it to their public administration which will act as an intermediary with social security. For pensioners, however, the procedure is only possible electronically through the special online service and reachable through their personal page on the website www.social security.it.
Costs and rates for applying for a small public loan
To the gross sum that is requested through a small public loan, a nominal annual interest rate of 4.25% and administration costs of 0.50% are applied. Furthermore, the amount of the provision for risks calculated on the basis of the age of the applicant must be considered: in this way, for the sum due, an employee from 18 to 59 years of age will have to pay a rate of 0.17% for a annual loan, up to 15.39% for an 85-year-old pensioner applying for a four-year loan.