Loans for government teachers: how to get small amounts at subsidized rates
The entire procedure is available on the Social Institute website for accessing loans for teachers who are officially registered with the Magistral Assistance Management, which includes state-level primary and permanent school teachers, managers scholastics from the former role of didactic directors and directors of general and administrative services, including retired ones. You can apply for small loans that are given only under certain conditions and for specific reasons.
24 Month Installment Loan
The loan amount, payable in 24 monthly installments, cannot exceed two months’ salary, including ongoing and fixed checks. The amount will be withheld in advance of 1% of the gross amount of the loan for administrative expenses and guarantee fund and interest at the annual rate of 1.50%. It will not be possible to request the granting of a new loan without having previously extinguished the previous one, nor will it be allowed to accumulate with small loans granted by other entities.
To apply for the loan it is necessary that the applicant is in service activity and over two years from retirement. The financing is granted only in these specific cases: birth or adoption of children, marriage of one’s own or of children, death of a family member, serious illnesses of one’s own or of family members, home loans for the purchase and any extraordinary maintenance of the house, mortgage in progress for the purchase of the only house owned, own dental care or of dependent family members, transfer of residence, purchase of a car, attendance of own university or of the children, and extraordinary events for particular state of necessity of the applicant. The application must be submitted exclusively online on the Social Institute website, which, in order to facilitate the entire procedure, has made available to interested parties a manual with all the relevant information and the form to make the request. To use the service it is necessary to have the “Pin device” of the Social Institute website.
Another alternative to access liquidity in a simple and fast way is to resort to the transfer of the fifth for teachers, which allows you to repay the debt through a percentage, 1/5 in fact, withheld directly from the salary.