Officials as borrowers are popular with banks because they are considered to be particularly serious customers with high morale when it comes to repayment. The regular fixed salary and the very high level of job security also make it easier for civil servants to borrow. Many providers put special loan packages for civil servants on attractive and flexible terms. This also benefits professional soldiers and civil servants with a secure job.
Official loans on particularly favorable terms
A civil servant loan becomes particularly attractive to banks if the borrower becomes a civil servant for life. From this point on, he cannot be terminated and his remuneration represents high-quality security for the bank. In addition to police officers and teachers, this also includes professors and judges as well as various civil servants. There are tailor-made loans for all these professional groups among officials with different grades.
Such a loan, which was developed especially for the needs of civil servants, can be found at the house banks as well as direct banks and online banks. The interest rates for installment loans are particularly low here, even with a longer term. Official loans with interest rates of up to 6 percent, even with a term of 20 years, are not uncommon. Overall, the maximum loan amount that can be applied for an installment loan is usually higher for a loan for civil servants. Sums of up to several hundred thousand USD are quite possible.
The long terms with low interest rates used by credit institutions to advertise civil servants as customers pose a certain risk for the bank. In order to have security in the event of death, a loan for civil servants is usually linked to taking out insurance with tailored terms. In the event of death, the sum insured repays the outstanding loan amount, protects the surviving dependents, and also ensures a guaranteed return. Direct banks on the Internet offer such a civil servant loan with insurance, as do the branches of the house banks.
Swiss credit and personal credit also for civil servants
An official can also have negative Credit Bureau information, which makes it difficult to take out a loan. With appropriate collateral or a surety, there is still a chance to get a loan for civil servants, albeit with higher interest rates and at a lower amount. Another way out is a Swiss loan, which is also open to civil servants with regular payments. Officials can apply for a Swiss loan discreetly via intermediaries on the Internet without the Credit Bureau or the house bank knowing about it. The civil servant’s salary serves as security and the checking account must not be encumbered with a garnishment. A loan for civil servants from Switzerland is only available as a small loan of up to around 3,500 USD.
For civil servants, like any other person with a credit requirement, it is also possible to take out a personal loan. Relatives and friends, who are available at short notice with a loan, are particularly suitable here. As a rule, no collateral is to be provided, and no Credit Bureau entry is required. Private individuals also offer an uncomplicated loan for civil servants over interest rates.