Direct Multi-Year Loan
The Inpdap direct multi-year loan can be disbursed, with a salary-backed loan, exclusively to those registered in the unified credit and social services department under the former INPDAP (now returned to INPS) .
The long-term Inpdap loan is a loan to meet personal or family needs that can be documented and for which the final amount of the expenditure is known (certainly if already incurred or preventive if still to be supported).
Characteristics of the direct multi-year loan
The loan is based on a maximum assignment of one fifth of the salary. The duration can be of five or ten years with an amortization plan of 60 or 120 installments, therefore the frequency of the same is monthly and they are deducted directly from the salary or from the pension. The maximum amount that can be granted is not defined a priori but must be calculated based on the income attested by the pay slip or the pension slip. The calculation is quite simple: the maximum amount disbursed will be equal to the maximum obtainable with an installment that cannot exceed one fifth of the net salary. At the time of disbursement of the financed amount, administrative expenses (always 0.50%) and a percentage for the risk fund so articulated (for employees still active) will be deducted:
– five-year loan: 1.50% if the retirement age is 65, 2% if over 65 years
– 10-year loan: 3% if the retirement age is 65, 4% if over 65 years
in the first case the taeg will be 4.11% while in the second it will be 4.01%
If, on the other hand, you have already retired, the risk fund is higher, according to the following scheme:
– five-year loan: age of the applicant between 18 and 65 1.50%, between 65 and 80 4.03%, above 80 18.64%
– ten-year loan: age of the applicant between 18 and 65 3%, between 65 and 80 5.60%, above 80 25.51%
It is permitted, if desired, to provide for early repayment. The remaining capital will have to be repaid and in exchange the financing will cease and the portion of the Fund for risk management for the residual capital will be returned.
Who can apply for the multi-year direct loan
All employees and retirees enrolled in the unitary management of INPDAP credit and social services can apply for funding. The state of need and purpose of the loan must be documented (ie how the disbursed capital will be used). The applicant must have at least 4 years of service if he is a permanent worker, 3 if he has a fixed-term contract but has already completed the required enrollment seniority.