Convenience Guaranteed With the Government Agency Loan for Teachers

What to know about Government Agency loans for tenured teachers

What to know about Government Agency loans for tenured teachers

Facing a sudden expense, helping a child in the realization of a project, buying an indispensable good. There are many reasons why an Government Agency teacher loan becomes necessary.

Unlike ordinary loans dedicated to teachers, it ensures advantageous conditions and the reliability that only the national pension institution can boast. It is in fact a loan that falls within the scope of Social Institute Magistral Assistance Management loans, credit lines dedicated to teachers.

Soon Government Agency for permanent teachers 2020

Soon Government Agency for permanent teachers 2020

Usually, before granting a loan, even if of a small amount, banks and financial companies require the presentation of income and real guarantees, such as lien or mortgage rights on the home.

And in the face of many guarantees , interest rates are not always advantageous. It happens in fact that for a request of a few thousand USD, banks apply rates of even over 5%.

This does not happen with the Government Agency loan for teachers 2020, which provide for an interest rate of 1.50%. The administration costs are then added to the interest, equal to 1% of the gross amount of the loan. All these sums are withheld in advance on the amount of the loan.

The amount payable is equal to two months’ salary in use at the time of the request, to be repaid with a monthly installment amortization plan with a two-year duration.

As for the requirements, only teachers and school directors employed indefinitely in primary and kindergarten schools have access to the Government Agency loan for teachers. For the purposes of access to credit, the applicant must not be more than two years away from retirement.

The disbursement is possible only on condition that funding is requested for one of the reasons provided by Social Institute. These include: the birth or adoption of a child, the marriage of the applicant or a child, the purchase of the residence house and the purchase of a car.

Loan without guarantor and co-applicant.

 If the creditworthiness is poor, applying for credit from the house or car bank is not successful. On the free financial market, applicants can also apply for a loan without guarantors and co-applicants who cannot shine with their financial background, high income and permanent employment contract or the naming of a guarantor with a positive credit rating.

The free financial market allows various types of hedging that disburses a loan and favors quick approval. Since the offers show up in an enormous variety, a previous comparison should serve as a basis and show a high relevance of suitable offers.

Without credit and guarantee for the loan

Without credit and guarantee for the loan

In many cases, when requesting a loan, it is not possible to provide a family member or friend with a guarantee or to designate him as a co-applicant. In the many offers for a cheap and advantageous loan without guarantor and co-applicant, however, there is no problem in deciding on a loan with other options as security for the lender.

The protection must only convince to the extent that there is security in the event of problems with the repayment and that the lender can rely on the security and use it to avoid his own losses. Real assets or savings investments and building loan contracts, as well as insurance with capital-forming properties meet with acceptance and can be used to secure a loan without guarantors and co-applicants.

The potential borrower should refer directly to his possible collateral in the online application, which enables him to favor a timely approval within 24 hours and to call for a payment of the loan amount within a short time.

If the security shows an adequate amount to the requested amount with the lender, nothing stands in the way of an approval and a basis is created that enables both the lender security and the desired payment for the borrower. A loan without guarantor and co-applicant is suitable for different needs and is extremely flexible in terms of the amount approved and the intended use on the free financial market.

Optimal framework conditions with high flexibility

Optimal framework conditions with high flexibility

In order not to endanger the overwritten or deposited collateral, a loan without guarantor and co-applicant should be chosen with a high degree of flexibility in the contractual terms. In a comparison of different loans, it is easy to find the right offer and decide on a loan that allows changes in the repayment without additional costs and thus favors a flexible adjustment within the term.

At the time of the loan request, an applicant does not know how his financial situation will develop within the term and whether it will change for the better or whether it will have negative influences. If a loan is chosen flexibly and can thus be optimally adapted to the financial situation, there are no problems with repayment and the borrower can choose changes without additional costs.

Debit Card vs Credit Card, This is the Right Time to Use It


Currently, buying and selling transactions are increasingly easy to do. The method also varies to the point that it makes you confused in choosing which one best suits your needs. Of the many payment methods available today, payment using a debit card and credit card is the most popular. Before examining further which ones are used according to needs, let us know in advance the use of the two cards.


Use of a Debit Card (Debit Card)

4. Choose the Credit Card that Suits Your Needs

Many people mistakenly think that a debit card is the same as an Automatic Teller Machine (ATM) card. In fact, there are significant differences between the two. Judging from the physical, the two cards are indeed similar. However, these two cards are very different when viewed from their use.

ATM cards are used at ATM machines and transactions that can be done are only limited to those listed on the machine, such as cash withdrawals, transfers, electricity payments, credit purchases, and others. While debit cards are used in making payments when shopping. The process takes place through a device called Electronic Data Capture (EDC) or Magnetic Stripe Reader. However, debit cards can also be used at ATM machines. So, the balance in your savings will be deducted if you make payments using a debit card. It would not be a mistake to conclude a debit card as a payment instrument in lieu of cash.


Use of Credit Cards

Credit Cards

The function of a debit card and a credit card is almost the same. This is what makes users of noncash payment instruments confused. Yes, the two cards generally function as a means of payment when buying and selling. So, what is different about the two cards?

The big difference between debit cards and credit cards is the payment system to debit and credit card issuing banks. As explained earlier, a direct debit card deducts some of the funds used for spending at that time. While on credit cards, money withdrawn for shopping transactions is a debt that must be paid. And to pay it, you make an installment payment at a certain time (usually per month) to pay off existing shopping debt.


Then, when is the right time to use it?

2. Use Reward Points

Debit cards are suitable for shopping for daily or monthly needs. This card is suitable for those of you who want to avoid wasteful nature and want to shop as needed. You can separate spending money by creating a special account for shopping and making a debit card from the account. If one month’s shopping is limited to $2,000,000, more than this nominal debit card cannot be used.

Well, if you don’t want to bother using two or more cards, a debit card can be a suitable choice because it can be used to make transactions at ATM machines. However, please note that there is a 3% discount in advance. While credit cards are suitable for enjoying cashback, bonuses, or rewards. Banks that provide credit cards usually work with merchants to create promos so that many people are interested in using a credit card.

Credit cards are also suitable for payment of daily transportation costs. Several types of credit cards provide facilities for purchasing plane or train tickets. Air Miles facilities on credit cards provide several benefits, such as airport lounges, free tickets, and even holiday packages abroad. If you use a train, you can use business class at economic prices.

In addition, credit cards can also be used to pay for motorcycle taxis or online taxis. That way, we can save on expenses for transportation every month. What about private vehicles? Take it easy, there is a credit card facility called BBM cashback which provides cheaper fuel prices.


Prioritize the Scale of Needs Priority

credit loan

From the explanation above we can know the difference between debit cards and credit cards. Starting from the use in buying and selling transactions, the benefits that can be enjoyed, to the payment of daily transportation costs. Just find out what needs you want to meet. Then match which card is the right one to use. Don’t forget, stay on the priority scale so that expenses are maintained.