Child marriage: costs and conditions of the Government agency loan
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The long-term Government agency loan falls within the scope of the finalized loans, as evidenced by the obligation to present the necessary certification to prove the existence of the objective requirements that allow access.
As for the motivation of a child ‘s marriage (see also Best Marriage Loans ), there is a five-year loan which requires the possession of the same subjective requisites in general, and which we will summarize below.
Subjective and objective requirements for the request of long-term loans
First and foremost it must be a public employee, who has a seniority of at least 4 years and who has also registered and paid them in the Unit Management for a period of time not less than 4 years.
In the case of employees with fixed-term contracts, the seniority claimed is reduced to three years, but the duration of the loan cannot exceed that of the residual duration of the existing work contract.
As regards the objective requirements, on the other hand, it is necessary to show the certification attesting to the marriage (within a maximum of 1 year from the date of the celebration), or of the publications.
Self-certification is also accepted, with the possibility of checking documents after the request. The Government agency module can be found online in the modules section of the former Government agency management, or at the territorially competent offices.
Marriage loan characteristics
The maximum amount that can be requested is 23 thousand USD, to be repaid in a maximum of 60 installments. This is a loan that can also be requested to cover the costs of your marriage.
The application can therefore be presented simultaneously by both the parent and the child, in the event that both are in possession of the objective and subjective requirements, but the total sum of 23 thousand USD in total cannot be exceeded.
The nominal annual rate is fixed at 3.5%, with the addition of a 0.50% for the coverage of administrative and fund expenses, as well as the percentage of risk coverage that depends on the duration, amount and age of the same applicant, according to the Government agency table.
The loan request can be renewed for each marriage of their children, as long as the applicant’s repayment capacity remains within the maximum limits of the installment / income ratio considered legal.