Teachers as we know are a low-paid professional category compared to other European countries, but their contract allows them to access particular loans granted at advantageous conditions, the Inpdap loans.
The Inpdap loans for teachers are loans made available by INPDAP and today managed entirely by INPS, after the merger of the two social security institutions, which offer lower interest rates than market averages and particularly favorable conditions.
To request them you must be enrolled in the unitary management of social and credit services, have a permanent or fixed-term contract of at least 36 months or be a retired teacher.
Inpdap loans for temporary teachers
Small loans Inpdap up to 8 months: duration and costs
Precarious teachers, despite the difficulties due to their position, can access the small Inpdap loans, being compulsorily enrolled in the unitary management of social and credit services.
These are loans from one to a maximum of 4 monthly payments, repayable respectively from 12 to 48 months, ie each required monthly installment provides for a repayment period of 12 months, then 1 monthly payment in 12 months, 2 monthly payments in 24 months, etc …
However, if you do not have other deductions in progress on your salary you can request a doubling of the monthly payments, thus obtaining 2 repayable monthly payments in 12 months, 4 monthly payments in 24 months, 6 monthly payments in 36 months, up to a maximum of 8 monthly payments. repayable in 48 months (four-year loans).
Obviously the duration of the loan must be less than that of your employment contract.
The cost of the loan includes a nominal annual rate (TAN) of 4.25%, a 0.5% for the administrative expenses of INPS and a bonus for the Risks Fund variable depending on the age of the applicant and the duration of the loan , from a minimum of 0.17% to a maximum of 1.20%.
How to apply for a loan, renewals and early redemption
To apply for a small Inpdap loan, temporary teachers with a fixed-term contract must download the form on the INPS portal, complete it in all its parts and hand it over to their own Administration.
The latter will have to send it exclusively by electronic means directly to the offices of the Social Security Institute.
In the event of early repayment, it will be necessary to wait for the natural end of the terms of the loan, before being able to request another small Inpdap loan again .
Furthermore, after a minimum loan amortization period, it is possible to request a renewal, that is after 6 months for annual loans, 12 months for biennial loans, 18 months for three-year loans and 24 months for four-year loans.
Loans for state teachers
Multi-year loans: duration and costs
Permanent teachers with a permanent employment contract, enrolled in the unitary management of social and credit services, can access the long-term Inpdap loans.
To be able to request them, you must have at least 4 years of service and the same number to pay to the Credit Fund, in addition to providing adequate documentation regarding the purpose of the loan.
Inpdap multi-year loans can have a duration of 60 months (five-year loans) or 120 months (ten-year loans), and are tied to the transfer of the transferable portion of the salary, up to a maximum of 20% per month.
The nominal interest rate (TAN) is 3.5%, plus a 0.5% for the administrative expenses of INPS and a contribution to the Risks Fund depending on the age of the applicant and the duration of the loan, from a minimum of 0.96% to a maximum of 2.28%.
Admitted reasons for requesting a multi-year loan
The Inpdap multi-year loans disbursed by INPS must be motivated, ie it is necessary to present a written documentation showing the purpose of the loan.
To date the admitted purposes are:
- Natural disasters
- Robbery, theft or fire
- Ordinary maintenance and energy efficiency (max € 30,000)
- Extraordinary maintenance (max 100,000)
- Car purchase (max € 20,000)
- Birth of children and adoptions
- Dental care
- Diseases and deaths in the family
- Member’s or child’s marriage (€ 23,000 max)
- Postgraduate courses
- Purchase or construction of a residence, even for an adult child (max. 150,000 €)
- Extinction of a mortgage loan
How to apply for a loan, renewals and early redemption
To apply for a multi-year Inpdap loan, you must download the appropriate form from the INPS website and send it duly completed in its entirety to the Social Security Institute through your competent administration, as well as a medical certificate of sound physical constitution.
It is possible to extinguish the loan early at any time by paying the residual amount, obtaining the repayment of the share to the Risks Fund in relation to the term of the guarantee.
In the case of loans at 60 months, it is always possible to request a renewal for a ten-year loan, while to request a renewal equal to the one already open, it is necessary to wait at least two years for the five-year loans and 4 years for the ten-year loans.
Loans for retired teachers
Retired teachers can access the subsidized Inpdap loans, provided they are appropriately registered in the unitary management of social and credit services with the payment of the 0.15% share, as foreseen by DM 45/2007.
They can apply for both small loans up to a maximum of 8 monthly repayable in 48 months, and five-year or ten-year multi-year loans, provided they have been registered with the Credit Fund for at least 4 years.
In the specific case retired teachers pay the same nominal interest, ie 4.25% for small loans and 3.5% for long-term loans, in addition to the contribution of 0.5% for INPS administrative expenses.
What changes is the rate for the contribution to the Risk Fund for small loans can range from a minimum of 0.34%, for annual loans with a maximum of 65 years to maturity, to a maximum of 15.39% for four-year loans with 90 years to maturity.
For long-term loans, on the other hand, the rate can range from a minimum of 1.92% for five-year loans with 69 years to maturity, up to a maximum of 22.39% for ten-year loans with 90 years at maturity.
How to apply for an Inpdap loan for pensioners
Retired teachers can apply for a small loan or a long-term Inpdap loan through the INPS portal, filling out the appropriate form and sending it via their personal device PIN code.
In this case the path to follow on the INPS website is:
- access services>
- public employee management services (formerly Inpdap)>
- services for pensioners>
- enter tax code and PIN>
- by subject area>
- small loan for pensioners> or long-term pensioners>
Or you can use the INPS Contact Center, on the free 803 164 number from landline or 06 164 164 for a fee by mobile phone, always in possession of your PIN.
Finally it is possible to request the services of the CAF and patronages in this case even without your PIN (DP 95/2012).
Mortgages for permanent teachers
The permanent teachers can access particular loans for the purchase of the first home, for which, however, it is necessary to be a permanent teacher for at least 3 years, effectively excluding both temporary teachers and private school teachers.
Additional basic conditions are that no family member of the teacher, that is, no member of his or her family, is the owner of a property within 100 km of the house in question.
Furthermore it is necessary for the teacher to be enrolled in the Credit Fund, ie the unitary management of social and credit services, for at least 3 years with regular payment of the registration and participation fee (rate 0.35% of gross salary).
It is possible to request up to a maximum of € 300,000 repayable from 5 to 30 years, through the activation of a multi-year mortgage loan. In addition, there is a residence requirement in the building subject of the Inpdap loan for a minimum period of 5 years, less in the event of early repayment of the loan.
Finally, the first-degree family members of the tenured teacher, such as a husband or a child, can also take advantage of the Inpdap loan, provided that all the necessary requisites exist such as the residence and the uniqueness of the first home.
Teachers, despite their difficult position within the European teaching landscape, can access Inpdap loans and mortgages, special soft loans granted at lower interest rates than the market.
These are small Inpdap loans up to 8 months repayable in 48 months, long-term loans of 60 or 120 months linked to the assignment of the fifth and subject to certified documentation and Inpdap mortgages for the purchase of the first house of residence.
Both permanent teachers and retired teachers or temporary teachers can access them, the latter limited to small loans or loans with a duration that cannot exceed the duration of the employment contract.