Loans: everything you need to know

The Institute of Security and Social Services for Public Servants of the State of Aguascaliente,bank , is a body that provides credit to public servants, pensioners and family members of bank affiliates to help them in their development and growth.

The bank loans can be divided into three different types: Short, medium-term and long-term loans. And all of them have a free procedure to request financing.

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Short-term loans

The short-term loans are divided into two: personal and tourism . You will have an answer to your request within 1 business day.

Personal loans

To request this credit the applicant must have contributed at least 6 months of affiliation to the bank . The maximum refund time will be of 72 fortnights. You have to have a sufficient amount saved in the account to be able to request it and if you want to request a larger amount, you will have to present an endorsement.

Documents to submit

  • Present an official personal identification (professional ID, voter registration card, passport, etc.)

Tourist Loan

Image result for tourist loanWith this credit the applicant must be affiliated to the bank for a minimum of 3 months and his destination must be for a vacation. You can request a maximum of 22 times the monthly UMA to return in a maximum of 3 years. 1% of the amount you request will be charged as a guarantee that it will be returned. You also have to contract life insurance through the institute.

Documents to submit

  • Present an official personal identification (professional ID, voter registration card, passport, etc.)
  • Quotation from the travel agency
  • Affiliation account bank
  • Documentation of non-resident family members at home with a telephone number
  • Proof of address
  • Last receipt of income

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What is the monthly UMA?

The monthly UMA replaces the VSM, Times Minimum Wage, and is an economic reference of the Measurement and Update Unit . With this measure, the amount of payment of obligations is calculated. It was created to avoid a high rise in tax obligations when the minimum wage increased.

Medium Term Loans

Within these products we can find loans to buy a car, for health and education and for technology and home.

Credit for cars

The institute can offer you up to 85% of the value of a new, pre-owned or motorcycle car. The maximum credit that is delivered is 131 times the monthly UMA. They can request it the affiliates to the bank of more than 3 months and the pensioners.

Credit for Health and Education

The bank loans offer 85% financing for education up to a maximum amount of 11 times the monthly UMA and 100% for health with the possibility of requesting up to 22 times the monthly UMA. The two types of bank loans have a maximum term of 3 years.

Credit for Technology and Home

You can finance up to 85% of your home or technology project with the bank loans. The maximum amount that can be required is 14 times the monthly UMA with a return period of between 1 and 3 years. It is required to contract a life insurance through the institution. To opt for this help it is necessary to present the budget of the project.

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Mortgage credit

The Bank Hipotecario loans are intended for the purchase of houses or land to build and to carry out reforms in the house.

If you are a public servant or pensioner affiliated to thebank, you can request up to 436 times the monthly UMA, without exceeding 85% of the appraised value. The income of the applicant and the spouse is also taken into account to determine the total amount to be delivered. The maximum repayment term will be 20 years and the interest rate will be updated in January and July. This procedure is done in person.

Documents to submit:

  • Present an official personal identification (professional ID, voter registration card, passport, etc.)
  • Proof of income or payroll
  • Commercial Appraisal
  • Certificated of assessment fredom
  • Water bill
  • Birth certificate and marriage certificate if married
  • Present simple scripts
  • Letter of promise of sale
  • Sales identification
  • Mortgage loan application form

As you can see, the Institute of Security and Social Services for Public Servants of the State of Aguascaliente has a wide range of financing. However, a large number of people can not opt ​​for these products for not being a pensioner affiliated with the Institute or not being a public servant. From bank we show you other transparent financing options :