How to understand if a loan is really convenient? Question that all those who are about to apply for funding should ask themselves. And civil servants are no exception. In this case, however, it is possible to take advantage of the Government Agency loan service online installment simulation.
It is a calculator dedicated to pensioners and public sector employees who wish to take advantage of the Social Institute and Government Agency subsidized loan opportunity. Credit lines at subsidized conditions provided by the Social Institute Public Employee Management through a specific Credit Fund, the Unitary Management of credit and social services.
The service, accessible online, is designed to assist public employees and retirees in evaluating the Government Agency loan offer. In fact, the system indicates all the loans accessible to the applicant on the basis of the data entered in the calculator. In this way the user will be able to get a rather precise idea of the advantages reserved for him by the Social Institute ex Government Agency loans.
But how to carry out the loan calculation Government Agency installment simulation? The service is accessible directly from the official Social Institute website. To access the simulator you must first click on the link All Services and then filter the results by theme by choosing the Loans item. At this point it will be easy to select the Public Employee Management service : simulation of small loan calculation and multi-year loans.
Once the calculator has been reached, the user can choose between three calculation methods : Loan Simulation; Loan Simulation for Ideal Installment; Loan Simulation for Specific Amount.
Regardless of the calculation method selected, the simulation system offers all the loans (both small and multi-year) accessible to the user. For each loan, all the main characteristics are indicated, namely installment, rate, maximum and minimum amount, and administration costs.
So let’s take an example of Government Agency loan installment simulation. From the simulation service we select the Loan Simulation for Ideal Installment. We then enter the required data in the calculation form, i.e. monthly net salary (1200 USD) and the ideal installment amount (225 USD).
We are also asked to indicate the date of birth of the applicant. In this specific case, we hypothesized that a public worker born on May 20, 1975 applied for funding. At this point, the simulator indicates all the loans accessible to the user, indicating for each of them the main characteristics.
To give an example, among the loans offered by the Social Institute calculator on the basis of the data we have just seen we find a small loan with a four-year term. The maximum amount that can be financed is 9,600 USD while the amortization rate stands at 217.49 USD.
The interest rate (Tan) is 4.25%. Administration costs are 48 USD while those for the Social Institute Guarantee Fund are 115.20 USD.