Among the types of financing currently available on the market, INPS retirement loans are among the safest and easiest to obtain. The reason is very simple. The pension represents a very strong form of guarantee, which pushes the banks, and the credit institutions in general, to grant this kind of loans even to protested pensioners or bad payers. Usually they provide extremely advantageous conditions with very low and competitive interest rates.
The special feature of INPS loans for pensioners is the repayment method, which is reduced by deducting each monthly payment directly from the pension. The installments must not exceed the fifth part of the total amount of the pension and the duration of the loan, which in general cannot go beyond ten years, also depends on the age of the requesting pensioner.
The only category of pensioners who may find it difficult to receive this type of loan are the pensioners at the minimum. By law, the minimum pension amount cannot be affected. Therefore, a pension of just over the minimum is enough to be able to obtain a loan for pensioners, even if the amount is not excessive.
To request a loan for pensioners, in addition to the classic documentation required for any form of financing, such as an identity document and proof of income, the pensioner must present the Obism model which demonstrates the real extent of the pension. It is therefore an indispensable document in order to be able to calculate exactly the monthly payment and the related repayment plan.
The requirements to apply for the loan
One of the few limits that an INPS pensioner might encounter when applying for such a loan is age. The repayment of the last installment of the loan must be made no later than the completion of the 85th birthday of the requesting pensioner. The higher the age of the latter, the higher the interest rates will be. The reason is largely understandable. The risk of insolvency due to death increases with advanced age.
The advantages of INPS pensioners for access to finance
Maximum freedom instead with regard to the costs to be incurred with the sum received on loan. The financing for INPS pensioners is in fact not finalized and it will not be necessary to document the expenditure. Another advantageous aspect is the non-provision of personal guarantees from third parties. In the jargon, loans for pensioners are in fact defined as single-signature loans, or rather only applicants. The main guarantee is the automatic monthly payment of the installment directly deducted from the pension. The Social Security Agency will take care of the operation.
As with any other form of financing, it is possible to apply for a loan for retired persons also online. Just compare the various offers made available by financial institutions and banks and choose the one that best suits your needs. By requesting a loan online you can access advantageous rates and favorable terms.
In closing, we can say that getting a loan for pensioners is really very simple and that the only two limits are represented by the age of the pensioner and the amount of the pension, which must not exceed the minimum limit set by law