How to calculate loans under Government Agency rate tables

What is the Government Agency loan handbook

What is the Government Agency loan handbook

Despite the elimination of the Government Agency, public employees and boarders can still take advantage of loans on favorable terms. Products that are granted directly by Social Institute and have special conditions. Those who wish to get an idea of ​​the repayment terms of these loans can use the Government Agency loan rate table.

In fact, there is a handbook on the Social Institute official website that allows you to calculate the amount of the installment on the basis of the amount financed. Specifically, the handbook is made up of several financial tables, each referring to a specific type of loan.

There is therefore a table for the small annual loan, one for the small two-year loan, one for the five-year multi-year loan, and so on. The main characteristics are indicated for each loan, including the various expense items.

How to use the tables for the Government Agency loan calculation

How to use the tables for the Government Agency loan calculation

The tables of the Government Agency loan rate table are designed so that no special instructions for use are necessary. The understanding of the data is almost immediate and in order to embrace the potential loan requests as much as possible, for each loan the Government Agency has examined a wide range of financeable amounts.

All the factors that contribute to the determination of the net loan are indicated for each amount (based on the conditions established by Social Institute for the disbursement of direct loans).

In other words, in addition to the monthly payment, the Government Agency loan tables also allow you to calculate what is owed by way of:

  • administration fees
  • deferral interests
  • guarantee fund Social Institute

In this regard, we would like to remind you that while the administration costs envisage a fixed rate (0.5%), the premium for the Guarantee Fund varies according to the age of the applicant. In the Government Agency loan handbook, installments tables there is also a table which indicates all the rates applied for the calculation of the Guarantee Fund premium.

Example of small Government Agency loan calculation

Example of small Government Agency loan calculation

Let’s take an example of a small loan calculation using the handbook available on the Social Institute website. Let’s assume to request a small three-year loan with an amount equal to 15 thousand USD.

The interest rate is 3.5% while the monthly payment is equal to 443.99 USD. Administration costs and deferral interest are equal to 75.00 USD and 77.84 USD respectively. As regards the charges for the Guarantee Fund, these vary according to the age of the applicant. They range from a minimum of 81.00 USD, for applicants aged between 18 and 59 years, to a maximum of 2,133.00 USD (87-90 years).

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