Multi-year Social Institute ex Government Agency loans are subsidized loans granted by Social Institute Public Employees Management to former Government Agency workers and pensioners. Among the various purchase purposes for which it is possible to request them we find the home renovation. So let’s see how to get Government Agency loans for home renovation.
Multi-year loans are accessible only to employees and pensioners of the public administration registered in the Unified Management of credit and social benefits. In order to access credit, it is also necessary to be able to claim at least four years of contributory payment to the aforementioned Management and a minimum of four years of service seniority to the pension.
For public service employees, the presence of an indefinite-term employment contract is preferable. However, this requirement is not indispensable for access to this form of financing.
In fact, fixed-term civil servants can also obtain Government Agency loans for home renovation, provided that the employment contract has a duration of not less than three years.
It should also be noted that, in the specific case of Government Agency loans for home renovation, financing is granted only on condition that the home referred to is the only one owned by the applicant’s family unit.
The house in question must also constitute the residence of the member and his family, or be destined for this function. As regards the contractual conditions, the amortization plan extends for ten years and provides for monthly installments. The interest rate is 3.5% and the maximum amount payable is set at 100 thousand USD.
As regards the request for financing, the application must be submitted electronically and drawn up in the specific application form available on the official Social Institute website (in the Forms section).
The request for funding must be accompanied by:
Public employees in service activities can submit the request through the Administration to which they belong, while for pensioners the request must be sent online, using the specific service on the Social Institute site.