What they are and how they work
With the elimination of the Government Agency, all credit services which in the past belonged to the Government Agency have passed to Social Institute. Among these we find ex ENAM loans, credit lines at special conditions granted in favor of teachers and didactic directors of elementary and nursery schools enrolled in the Social Institute Master’s Management. See cdiaphoto.com for a write-up
Those applying for an ex-Enam loan can obtain a maximum sum equal to two average net monthly wages received by the applicant. The monthly salary in use by the applicant at the time of submitting the application is taken into account for the definition of the maximum amount that can be financed. Also included any fixed and continuous checks.
But what are the requisites for obtaining ex Enam Social Institute loans? Only workers enrolled in the Social Institute master’s degree in service activities can benefit from subsidized conditions. In order to grant the loan, the applicant must also be at least two years away from retirement.
Interest rates and repayment plan
As regards the repayment terms, the amortization plan provides for an amortization plan in monthly installments which extends for 24 months. As already mentioned, the sum that can be financed cannot exceed two salary months received by the applicant.
An interest rate of 1.5% is also applied to loans formerly Enam Social Institute. The gross amount of the loan is also reduced by a portion equal to 1% of the loan for the payment of the premium of the Social Institute guarantee fund and administration costs. Amounts that are deducted early from the loan amount.
Small Enam loan purpose: for what expenses you can get it
We also remind that ex ENAM loans are granted by Social Institute only on condition that the applicant has to face one of the following expenses :
- purchase of the house of residence;
- financing of extraordinary maintenance works on the home;
- mortgage in progress for the purchase of the first house;
- marriage of the worker or a child;
- serious illness of the applicant or a family member;
- expenses related to the death of a family member;
- expenses related to the birth or adoption of a child;
- purchase of a car;
- transfer of the residence of the worker;
- dental care of the worker or family member;
- university expenses.