Let’s find out how INPS pensioners can access loans up to 90 years . Everything you need to know about the requirements needed to receive the money you need. Finally, how to apply for a personal INPS loan for the elderly.
Loans for INPS pensioners up to 90 years: requirements and documentation
On our site we have repeatedly talked about the loans for retired INPS , as these are very affordable products that you should know in case of need. This is because even older people may need to apply for funding to meet different types of expenses . Often it is a question of helping a child or a grandchild to carry out their own project, but at other times it can be useful to receive a loan to face any type of expense by taking advantage of payment in comfortable installments. INPS pensioners can access a specific and facilitated form of financing , which offers particularly advantageous economic conditions. This is because from the point of view of the guarantees offered, the pensioner represents a customer decidedly well-liked by banks and financial institutions. The pension received by the client himself represents a constant and insured monthly income every month . Consequently, the credit institution will have no problem offering a certain amount of loan capital, since it will be able to deduct the repayment installments directly from the monthly pension received.
The main problem with INPS loans for retirees is that related to the requisites required , in particular as regards the age and health of the applicant. As you have already read in the title of this article with the personal loans offered by INPS to its members it is possible to receive a loan even up to 90 years . Obviously this is the absolute maximum threshold that you can find, given that the risk for a company will always be higher. But what are the particular requirements for receiving a loan for retired INPS up to 90 years? From the point of view of the “economic” requirements there will be no problem whatsoever, given that the only income document we will have to present is the pension slip . Based on our pension, the maximum installment to our extent will therefore be defined, and consequently also the maximum amount that we will be able to access.
From the point of view of the maximum age allowed, it should be noted that the 90-year limit is considered at the end of the repayment . Consequently the maximum age at the time of the request will be equal to the difference between 90 and the number of years of duration of the loan. Thus, for example, in the case of a ten – year loan , pensioners can apply for up to 80 years , for the five-year loan up to 85 years and so on up to the annual loan which can be requested up to 89 years . Obviously, based on the age of the applicant, a certain rate will be defined for the risk fund, which will be higher the more the customer is older. Finally, as regards the necessary requirements, medical documentation may be requested for INPS loans up to 90 years. This must attest to the healthy physical constitution and, in the case of illness, it must be ascertained that these do not modify the life expectancy of the same applicant.
Personal loan for INPS pensioners: amount, installment and interest rates
After analyzing the requirements required by the INPS to be able to access loans for retirees up to 90 years, we move on to assess the economic conditions of this particular product. In particular, this is a type of personal loan that has spread enormously in recent years, which is the sale of the fifth . This type of financing is particularly appreciated for several reasons, including comfort. The customer who receives a personal loan of this type does not have to worry about anything, since the repayment installments are automatically withheld by the INPS from the pension received. So no monthly expiration dates to keep in mind and no need to go to the post office to pay the bills. Furthermore, the repayment installments, which are fixed as are the interest rates, will also be particularly light . As described by the name of the product, in fact, the customer undertakes to sell a fifth of his pension every month. As a result, the repayment installment to be paid may be a maximum of one fifth of the monthly amount received, and therefore it will not be a problem to face it.
As a consequence of the definition that we have just given of the assignment of the fifth, the amount that can be requested through an INPS loan for pensioners up to 90 years will depend on the pension that is received. Finally, if you want to receive a higher amount, you will have to turn to long-term INPS loans , which may have a five-year or ten-year term. At the time of choosing the duration, we will still have to take into account the maximum age at the time of the request, considering what was said above regarding the requirements. Therefore the amount that can be requested will be equal to the transferable portion of one’s pension multiplied by the number of years of duration of the loan . In this way it will be possible to calculate in particular the amount gross of the interest that we will have to pay to the company.
Also from the point of view of convenience INPS personal loans are an excellent solution, given that we are talking about some of the best loans in circulation. The interest rates applied depend on the type of product chosen, including small loans and long-term loans. In the event that you are looking for a loan of up to 90 years for a limited amount, then you can choose one of the small INPS loans ranging from a minimum of one year to a maximum of four years . In this case the Tan interest rate applied will be 4.25% . As for the requests for higher amounts, the INPS loans that are for you will be long-term loans, which are divided into five-year and ten- year loans. In this case the annual interest rate applied will be even lower, given that we will have a 3.50% Tan .
It should be noted that interest is not the only expense related to any financing. For INPS loans there is a contribution related to administrative expenses which will not be particularly high, given that it is 0.50% of the amount requested. Finally, to complete the picture of the expenses to be faced to receive an INPS personal loan up to 90 years we find the costs for the Risks Fund . This fund serves the INPS to protect itself in the event of the death of its own customer following the provision of a loan. The premium to be paid will therefore be higher as the client’s age increases. In particular on the regulation of INPS loans for pensioners there is a table of rates . For example, in the case of annual loans, a rate of 0.34% will be applied for the 60-64 age group, while for the 85-89 age group the rate rises to 5.06% . In the case of five-year loans, the rate for the first age bracket is 1.92% , while for the 80-85 age group there is a rate for the risk fund of 15.76%.
How to apply for a loan for pensioners up to 90 years
If you are interested in loans for retired INPS we advise you to proceed immediately with the request of the amount you want. This is because the supply may not be as fast as with other forms of personal loans. The reason for this waiting is to be found in the checks that must be carried out by the social security institution or the credit institution that must provide the loan. It is good to know that INPS personal loans for pensioners up to the age of 90 are divided into direct loans and indirect loans . In the first case, the INPS will be directly in charge of the disbursement, while in the second case it will be an external credit institution but in any case will have an agreement with the social security institute to grant us the loan.
With regard to direct INPS loans, it is possible to proceed with the online request . To do this you must first log in to the INPS website using your credentials, so that you can access all the online services available. In case you want to request a loan for pensioners up to 90 years at your bank, what we will have to do is first visit the INPS website to consult the complete list of credit institutions affiliated with the social security institution. In the event that our company is present in this list, then we will be able to obtain the subsidized financing at the conditions provided by the INPS.
Making the request for a personal loan for pensioners at a partner credit institution is very simple, and can be done completely online. All we have to do is follow the guided procedure in which we will have to enter the amount we are interested in and the duration we prefer. To be able to access the desired loan, it is also necessary to request the pension transfer notice from INPS. In fact, this document attests that we are not being held back on our pension, and that therefore we can easily deal with the repayment installments provided for the loan we are requesting. In addition, the transferable portion of our pension is shown on the transferability notice, which will be equal to one fifth of the amount received monthly. To complete the request it will therefore be sufficient to enter all personal data and attach the usual documentation that includes identity card, tax code card and pension slip.