Despite the fact that there is a special loan for civil servants, the so-called civil servant loan, civil servants are welcome customers and borrowers at all banks.
Due to their status in our society, which is associated with non-termination, civil servants fulfill all the requirements that banks place on borrowers. You have a verifiable, good and permanently secure income. That is why they are popular customers and borrowers. No matter where you apply for credit, provided your Credit Bureau is flawless, you will get credit for civil servants everywhere.
The official loan
Due to the peculiarities associated with civil servant status, banks and insurance companies have developed the so-called civil servant loan. A loan tailored specifically to civil servants and civil servants. This is not an installment loan with a normal term and repayment, but a loan that combines a loan and life insurance. The loan is approved in amounts up to 20 times the monthly net income with terms of up to 20 years. Life insurance with the same term is taken out in parallel to the loan. Only interest is repaid from the loan during the term.
Life insurance is saved. If this is then due, the loan is repaid with the payment amount. Officials do not need to provide any further collateral to obtain this official loan. Official status and proof of income are sufficient. The official’s family is also covered for life in the event of life insurance. Surpluses and profit sharing from the insurance are paid to the policyholder.
A small loan for civil servants
Anyone who receives an official loan is instructed by the bank to use the loan to replace any other existing credit obligations. This means that officials who intend to take out a civil servant loan in the near future and also want to have a small loan should use a Credit Bureau-free loan that is not reported to Credit Bureau as a current loan after the payment. This means that the requirement from the official loan can be easily avoided.