Eligible for a civil servant loan.
So also with the civil service loan, which exists both with and without purpose. the offers of the banks and try to complete the most favorable for you. Cheap new or used dream cars or motorcycles. Consumers have the opportunity to enjoy the extremely favorable terms of an official loan. Civil service loans provide excellent lending There is no cheaper solution than civil servants for civil servants and non-cancellable public sector employees. It is primarily reserved for civil servants, but some high-salary scholars with a secure job are also eligible for a civil servant loan. Ultimately, the house bank determines who receives the special loan and who does not.
A comparison of the different offers is worthwhile in any case. Civil servant loans are unrivaled in cost and often used for real estate financing due to the lower interest rates and repayment of life insurance. Civil servants have a particularly high credit limit. The available term is usually between 12 and 20 years, due to the long term the monthly installments are lower and the borrower has more financial leeway.
The amount of the contractual loan interest is unchangeable, the fixed interest rate allows a far-reaching personal financial planning. With the free special right of termination, the loan can be replaced early if necessary or be shortened at least the entire contract period. This lowers interest rates and lowers costs. What is the purpose of life insurance for civil service loans?
The capital-forming death insurance is the money-box of the borrower. The monthly repayment rate consists of the interest paid to the house bank and the insurance premiums paid into the LV policy. The loan thus saved becomes fixed interest and at the end of the term the life insurance policy pays the guaranteed income to the house bank. The Borrower is fully leveraged and may collect the profit sharing of the insurance.
Overall, this is of course much cheaper than the usual direct payments of repayment installments to the house bank. If the borrower dies during the loan term, he receives the death benefit.
Cheap loans for civil servants – under what conditions?
Many credit institutions and some insurance companies offer separate loans and loans for civil servants. Therefore, you should make a comparison in advance and only then decide on a corresponding price offer. The most important point is the status of an official. The lender carefully checks whether you meet all the requirements. Then there is nothing in the way of early lending and payment of the amount.
Basically, a distinction is made between a service loan, a normal installment loan and a service loan. The payment of an official loan is made in a single installment. This can be compared to a normal consumer or installment loan. The main difference, however, is that the interest and other loan conditions for a loan to an official are generally much cheaper.
The structure of an official loan is slightly different. Simultaneously with the conclusion of a civil servant loan you would have to conclude an insurance contract for a capital life insurance – usually a life insurance policy. You will end up with a certain amount to repay your official loan. Life insurance generates added value in many areas. Not only does this benefit the lender, but it also benefits you, and in most cases you will be adequately involved in these surpluses.
Whether you choose an official loan or an official loan, you can expect interest rates to be very low. Often, they are much lower than the interest paid to other lenders with the status of civil servant. Favorable conditions result from your official status and your extremely secure income.
As a rule, for the rest of your working life, you can trust that you will keep your job, a privilege that other employees do not have. There are official loans with life insurance offered.