One often hears about a particular type of loan, namely the sale of the fifth INPDAP.
We can introduce the theme by explaining, in a simple manner, what the fifth assignment is.
The assignment of the fifth is, more generally, a particular and non-finalized loan: in essence, with this financing, a portion of one’s income or pension is granted, which must not exceed one fifth of the net income (and hence its name) as monthly loan installment.
After that, contrary to what happens with other loans – for which the customer reimburses the installment to the bank or finance company every month, or every two months – it is directly the employer or the institution that pays the pension to pay the monthly installment to the bank, taking it at the source.
This is why the transfer of the fifth INPDAP is considered, even by the banks, as a loan that is safer than the others: it is not the client who has to worry about repayment but the employer or the institution of the pension.
Although today we continue to talk about the sale of the fifth INPDAP, the correct name is the sale of the fifth INPS ex INPDAP. In fact, the INPDAP was the body that until 2012 was responsible for providing pensions to public employees, but today it was completely absorbed in the INPS and ceased to exist, as part of the Monti maneuver to contain “public spending “.
The transfer of the fifth, we said, is a personal loan not finalized
Therefore it is not necessary to explain why the transfer of the fifth INPDAP is requested as the sum of money is paid without requesting justifications from the customer.
The installment is withheld, as we have said, directly on retirement or income.
Types of transfer of the fifth
There is no single type of transfer of the fifth INPDAP, but different types of products that can best adapt to the needs of each.
- The INPDAP Small Loan. It consists of a sale of the fifth INPDAP which is paid to employees and pensioners with registration in the Unit for Credit and Social Services.
It is a loan of small amounts of money, which lasts from one to four years at most. It is possible to request, for the annual loan, at most a salary or pension monthly payment; for the biennial one, at most two and so on.
- Direct Multi-year Loan INPDAP. It is a loan with transfer of the fifth INPDAP which however lasts up to ten years.
It can be requested by public employees hired on a permanent basis with 4 years of seniority and by pensioners with 4 years of contributions.
Temporary public employees can access it only if they put the TFR to guarantee the debt.
- Guaranteed Multi-year Loan INPDAP. This is a loan that is granted not by INPS but by banks and financial companies that have an agreement with the institution. In this case it is possible to access the loan if you are a public and state employee with at least four years of seniority in contributions. The loan lasts 5 or 10 years. The installment amount does not exceed one fifth of the monthly salary.