A special form of installment loans are the official loans. Only civil servants and civil servants are eligible for a civil service loan. This circumstance is due to the credit rating awarded to them. State employees owe their high credit rating to the security of their workplace. In the case of non-cancellable civil servants, for example, there is no danger that the monthly income will be lost or that a surprising loss of employment endangers the repayment of the installment loan.
What distinguishes the civil service loan
Civil servants have a special status with banks. The favorable conditions have an effect not only on the comparatively low interest rates, but also on the long maturities and high loan amounts that can be raised. In addition, these special loans provide planning certainty for civil servants since, unlike other “traditional” loans, interest rates can not be changed. In any case, repayments of old loans pay off when civil servant status is re-acquired. So the borrower can save money with the official loan!
Civil service and civil servant loans: a difference
There is a common likelihood of confusion with the terms civil servant loan and civil servant loan. The loan is concluded in contrast to the installment loan in connection with a pension or endowment life insurance. This insurance is provided during the term of the financing, which means that it is paid in monthly. With the amount thus saved, the sum of money is then repaid at the end of the term.
The ABC Bank in the Credit Analyzer loan comparison
Thanks to a credit comparison calculator, the small target group of these special loans can save even more despite extremely favorable conditions. Also the credit comparison Credit Analyzer considers with the new partner bank “general officials cash bank”, briefly ABC bank, civil servant credits in their free computer. For more than 30 years, ABC Bank has been a contact and reliable lender for more than 100,000 public sector consumers, focusing exclusively on private individuals. The offers of the new partner bank are characterized by terms of up to 144 months, a favorable fixed interest rate and loan amounts of up to twenty times the family income. Another advantage offered by ABC Bank is that the second borrower does not have to be a civil servant – so only the first borrower has to be employed indefinitely and outside the probationary period.