Different needs, different loans
In most cases the salary assignment is ideal to satisfy the needs of those who want to keep their pension intact.
The fifth assignment, in fact, is an advantageous formula for pensioners: it affects a minimum part of the sum (precisely, one fifth) and allows one to obtain loans without justifying the use of money.
There is an equally valid alternative which can also be requested by pensioners registered with INPS: direct multi-year loans . The substantial difference between the long-term direct loans and the normal salary-backed loan is the need to justify the loan . Or at least it must be included in the cases indicated by the INPS.
To obtain a direct Multi-year Loan, you must be a pensioner enrolled in the unitary management of credit and social benefits . The loan can have a duration of five or ten years with monthly compensation divided into 60 or 120 quotas that are repaid through the classic system of the assignment of the fifth.
What are the procedures to follow?
You must deliver a documentation through the online service: a question dedicated to long-term direct loans, the certification related to the state of need and the justification of the expenditure.
In addition, a medical certificate must be provided which certifies the healthy physical constitution of those requesting the loan. the debt can be extinguished at any time and it is not possible to make a second application before the twelve months: a year must pass between one request and another.
What do you pay each installment?
A part of the loan given (divided into 60 or 120 installments), a nominal annual interest rate of 3.5%, administration fees of 0.50% and a risk fund bonus (find all the details on the last page of this document ).
Payment is automatic because everything is based on the sale of the fifth. That is, on a mechanism that does not provide for the active function of the borrower: the pension is collected with a loss of one fifth, or the sum necessary to repay the loan.