Loans for Social Institute pensioners are loans that are specifically granted to this category of people in order to be able to purchase everything they need, for themselves, for a son or a grandson. Among the various loan and loan solutions for pensioners, you can also consider that of the Lite lender company, a credit institution that is part of the Across lender group.
The characteristics of the loans for pensioners
The main feature of this loan is linked to the age that the applicant must have at the time of the request and at the time of payment of the last installment. In the first case we speak of 78 years, while in the second case we speak of 80 years. The maximum amount that can be obtained ranges from 4,000 to 52,000 USD.
The repayment term, however, starts from a minimum of 24 months and reaches up to 120 months. As regards the installments, their periodicity is monthly, while the sum of which each installment is made up of from 100 USD up to 1/5 of the net pension, in any case no more than the transferable portion calculated taking into account also the minimum pension required by law. Let’s find out how to calculate the transferable portion and, more generally, how to calculate the rate of retired loans .
The interest rate is fixed and is calculated based on the age of the applicant. In addition, a loan insurance is also provided which covers the pensioner and his family from any unexpected events.
In order to apply, the documents that need to be brought are the identity card, the tax code and the communication of the transferable quota, which will be requested directly from the CR branch in Florence.
Delivery times and early repayment
The disbursement times are usually very short, while the possibility of early repayment is envisaged upon payment of a penalty of 1% on the capital repaid early if the residual term of the loan is greater than one year, or 0 , 5% (always calculated on the sum repaid early) if the residual duration of the loan is not greater than 1 year.