Officials have a special status. This is also reflected in the lending, because officials benefit from other conditions, such as lower interest rates. Unless there are any negative credit bureau entries, lifetime officials have no problem approving a loan.
Credit for professional soldiers
Also professional soldiers are civil servants. You have a regular income and are not dependent on the statutory pension insurance, but get a civil service pension. This makes the professional soldier a welcome customer of the banks. If the creditworthiness is what you would expect an official to do, then the applicant has no problem obtaining a loan for a professional soldier. But before he decides prematurely, the official should already compare the individual offers, because there are significant differences in the individual offers.
The purpose of usage
In the case of a loan for professional soldiers, the purpose is irrelevant and thus not bound to a specific purpose. Crucial to such a loan is that the interest rates are lower and the term can be longer than is the case with a conventional installment loan. It can be used for rescheduling, to finance a car or for other purposes. The special feature of a loan for professional soldiers is also that this can be coupled with a life insurance. These are special rates specially designed for civil servants. For professional soldiers, the coupling with a life insurance is even recommended, because as a professional soldier, it can also come to foreign missions. If the civil service loan is linked to life insurance, the relatives are insured in the event of death
Is there a civil service loan for other professions?
An official loan or a loan for professional soldiers can only be applied for by civil servants or civil servants. Other professions do not receive such a loan. For them different conditions apply. In addition, the risk of default by an official is very low, which is why banks already regard their jobs as crisis-proof and therefore as collateral. If the civil servant is in arrears with the installments, the salary or a part of it can still be seized. But with a failure is usually not expected in this professional group.
Nevertheless, such a loan depends on the creditworthiness of the professional soldier. It is rare, but even here it may happen that the official does not have a good credit rating. Then even the civil service status does not help him anymore. If the credit rating is negative, civil servants or professional soldiers will not receive a loan. In any case, the banks also check with officials whether negative entries are available.