INPS loans: who can apply for them?

The INPS loans can be requested by employees and retirees of the public administrations and state. They are granted at better than market conditions and must be repaid directly to the pension fund. 

INPS loans to public employees

If you are an employee of the state and public administrations or the armed forces, you can apply for a loan on favorable terms directly from the social security institution. Since the INPDAP was abolished, INPS has been responsible for managing and granting:

  • INPS loans to employees of the post office;
  • INPS loans to state employees;
  • INPS loans to public employees.

INPS loans to these categories are granted at subsidized rates and are divided into small loans or multi-year loans. These are INPS former INPDAP loans, unchanged in their characteristics and the granting and repayment methods.

While the small INPS loan allows you to obtain a loan of between one and eight months, in direct multi-year loans the amount of the loan depends on the monthly income received. The multi-year loan has a fixed duration, of 5 or 10 years, and installments that cannot exceed one-fifth of the net salary received by the employee. You can request a multi-year loan only in the cases listed in the regulation approved by INPS.

INPS loans for pensioners

Even the pensioners of the public and state administrations have access to small loans and direct and guaranteed long-term loans. In addition, a specific loan is dedicated to pensioners with the assignment of a fifth of the pension. Through the agreements stipulated with banks and financial companies, INPS grants loans for retirees up to 90 years of age. The duration of the loan is equal to a maximum of 120 installments and the amount obtainable depends on the volume of the net pension received by the person applying for the loan.

Before being able to receive the loan, the pensioner interested in requesting the assignment of the fifth INPS must obtain from the credit institution the communication of the transferability of the pension. It is a document that contains the calculation of the maximum amount that can be withheld from the monthly pension. By law, the assignment of the fifth to pensioners and employees must be linked to the subscription of sun coast insurance coverage that protects the lender and the recipient of the loan in the event of the death of the debtor or loss of work and other problems that may prevent the regular loan repayment.

INPS loans for private employees

It is worth specifying that there are no INPS loans for private employees. The only categories of people who can apply for a small loan, a multi-year loan, or a mortgage from the social security institution are therefore public and state sector employees, employees of Poste Italiane and associated companies, and employees of the Judiciary, as well as pensioners. of these sectors.

Private employees who need a loan can apply for a fifth-party loan to any bank or finance company or another form of personal loan.

How to request a quote for INPS loans

The procedure for requesting an INPS loan differs depending on whether it is a small loan, a multi-year loan, or a loan for pensioners with salary-backed loans. For each of these loans, INPS has prepared a specific application form that must be completed and delivered to the social security institution electronically or by post, based on the public administration of reference.

Those registered with the Poste Fund can use the calculation tool made available on the social security institution’s website and simulate an estimate for INPS loans. Starting from the net salary, it is possible to obtain the transferable amount, the amount of the loan that can be requested, the costs to be incurred, and the monthly payment to be repaid.

For all INPS loans, the interest rate is fixed and is equal to 4.25% for small loans and 3.5% for direct multi-year loans. To this rate must then be added the administration costs, equal to 0.5% of the loan amount and the expenses for the risk fund, differentiated according to the duration of the loan and the age group to which the person requesting the loan belongs. 

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