What are Social Institute loans for medical treatment and who can get them
Thanks to their social security position, public employees and pensioners can access credit at subsidized interest rates. Opportunity made possible by Social Institute ex Government Agency loans, subsidized credit lines that can be requested for various purposes. Among these are the Social Institute medical care loans.
Social Institute medical care loans are loans at advantageous conditions which fall into the category of multi-year Social Institute loans ex Government Agency. Multi-year loans are designed to help public employees and retirees who face significant expenses, from home purchases to medical bills.
Like all multi-year loans, Social Institute medical care loans are accessible only to those who have a series of requirements. You must first be registered with a special Social Institute credit fund, the Unitary Management of credit and social benefits.
Not only. It also requires 4 years of service seniority useful for pension purposes and at least 4 years of contribution paid to the aforementioned Unitary Management.
Purposes and amounts of Government Agency loans for 2018 medical treatment
As already mentioned, the Social Institute ex Government Agency multi-year loans are granted for various purposes, among these we find medical treatment. In this regard, there are several purposes among those allowed by the Social Institute Loan Regulation which can be traced back to Social Institute medical treatment loans.
Specifically, Social Institute loans can be requested for medical treatment for:
- illness of the applicant ;
- dental care and dental prostheses referred to the applicant, spouse or dependent child;
- serious illness of a family member of the applicant.
Multi-year loans can last for 5 or 10 years, depending on the reason why you are applying for funding. In the case of Social Institute medical treatment loans, the repayment is ten-year only if the financing is requested to meet the costs related to serious illnesses.
Interest rate and application submission
The interest rate is always fixed at 3.5%. A rate of 0.5% for administration costs also applies to the gross amount of the loan. In addition, a premium is expected to be paid for the Social Institute Risk Fund, defined on the basis of the duration of the loan and the age of the applicant.
The loan application must be sent electronically. Public employees in service activities send the application through the Administration they belong to.
For retirees, however, there are two alternatives : you can send the application yourself using the online service of the Social Institute website or contact the Social Institute Contact center.