There are several providers that specialize in civil service loan providers. There are providers that offer a very long term. Other providers, in turn, offer credit-based loans where there are interesting entry-level rates.
Civil Service Loan Providers can be compared with a credit comparison offering, for example, Smava clearly arranged.
Civil Service Loan Providers – Find Best Deals With The Loan Calculator
Even civil servants, like all other professions, sometimes need financial resources that can not come from accumulated reserves. The solution is a civil servant loan.
Civil servants and civil servants are the ones who provide the best conditions for a loan. The reason is to look for a secure and non-terminable job. If officials then use a loan calculator, a civil servant loan provider can be found quickly and without obligation. A credit request can then be made directly through the provider’s website.
With this, no credit is created, but the official receives a tailor-made loan offer. Public servants may have the best credit conditions because of their employment. This has a positive effect on the interest rate and the grant in general.
When banks lend a loan to an employee, not only income is checked, but also the risk of losing work. Civil servants are therefore the most attractive customers the banks wish for.
Civil servants vendors – the difference civil service loan and civil servant loans
The official pays the premiums directly to the insurance company, the interest due is deducted, so to speak, as installments every month. The high final installment at the end of the term is then paid with the life insurance due.
The official loan, however, is a normal installment loan, which scores with better conditions. This is not the combination of credit and life insurance.
Official loan provider – who gets the civil service loan?
Civil servants and public employees include, for example, police officers, professors, teachers, mayors, prosecutors, judges and many more. But other professions can get the cheap installment loan.
Thus, in banks, employees in very secure employment relationships such as a health insurance or German pension insurance, airlines, Deutsche Bahn, broadcasters, municipal utilities receive the favorable official loan.
However, the regulations which occupational group receive this loan vary from provider to provider. In any case, it pays to ask the bank if you belong to the professional group.
Civil service loan provider – the cheap credit thanks to non-cancellability
Civil servants have not only advantages in insurance, their non-terminable professional status will also be positive for the civil service loan.
Banks do not only determine the borrowing rate for civil servants based on the Credit Bureau score, but also the professional status is taken into account when calculating the conditions. This status also takes into account the likelihood of losing a job. Banks like to see officials as customers because they have a non-terminable job.
Civil servant providers – find the optimal loan
A loan calculator helps to find the cheapest and best deal among the many official loan providers. He is easy to use.
You simply enter the loan amount and the term. This gives officials an overview of the possible conditions. How a provider now assesses the personal credit rating, the official learns only when a non-binding loan request has made.
The more complete the information given in a credit inquiry, the more accurate the provider can determine the credit rating.
Since officials can enter their status to benefit from the favorable conditions also. The loan request is automatic, the personal loan offer is usually transmitted after a few minutes.
Official loan provider – what can a civil service loan be used for?
Many civil service loans are given away without purpose. However, there may be some benefits to using the intended use.
For example, better conditions are provided for naming additional collateral, such as submitting a vehicle registration document. The civil servant or civil servant should therefore enter the purpose in the loan calculator when buying a car.
An official loan provider can also specialize in a renovation or modernization of a property. Again, the purpose should be entered into the loan calculator, so as to increase the selection.
If the intended use is “rescheduling”, then the bank knows that no additional loan will be taken. This can have a positive effect on the credit rating and thus also on the conditions.
The official loan with life insurance
Civil servant loans listed for example at Smava are almost all installment loans. But there are also providers that offer civil servants a combination of a loan and a life insurance. This loan is called a civil servant’s loan and not a civil servant’s loan.
The official loan is treated as a term loan. This means that during the repayment period only interest will be repaid and no repayment. However, at the end of the term, the full amount is paid at once. Therefore, a life insurance policy is taken out at the same time as the civil service loan.
But it can also be a pension insurance. If the life insurance is due at the end of the term of the loan, this is repaid with the life insurance. Anyone who looks at a comparison between the civil service loan and the official loan should not only pay attention to the effective interest rate.
This interest rate includes all costs, as well as the contributions for the life insurance, but not the repayment. As a result, it may be that a civil servant’s loan seems cheap. Therefore, officials should pay attention to the monthly rate, because this is more meaningful.
The official has a special status with the banks. Due to its non-cancellability, a loan is secured. That’s why civil servants get the best credit conditions. Nevertheless, the official loan providers should be compared with each other.
Not only the term can be chosen longer, the loan amount is higher. So loan amounts can be taken up to 250,000 dollars and more with a term of 20 years.