The loan for lifetime officials promises more than just dream-free interest. Life officials are particularly well regarded by credit institutions. The generally good reputation of an official leads to numerous special conditions for lending. Special loan contracts for state servants do not only have special providers. Practically every financial institution attracts this professional group with exceptionally good offers.
Loan for lifetime officials – who can get it?
The requirement to get a lifetime civil servant loan is a lifetime civil servant status. It does not matter whether the employer – father state – is the state or the federal government. The typical professional groups are not only the officials of the ministries. Likewise, teachers, professional soldiers, and police officers are employed directly by the state as civil servants. Judges have a special status according to their professional code, but they are also classified as civil servants.
Some financial institutions expand the group of beneficiaries. Revocation officials, temporary soldiers, and civil servants are almost equated with officials. You may not be a civil servant for life, but the safe employer is the same. These professional groups have to accept, at least with some providers, the possible loan terms.
The privileges of a civil servant
Civil servant status provides numerous privileges in life. Civil servant status is already rewarded with special conditions for car insurance. An official is received when looking for a loan, unlike insurance. Virtually every provider has special contracts for this professional group. On the one hand, the offers include significantly lower interest rates. In addition, the loan terms can be extended almost indefinitely.
As a result, extremely high loan amounts are possible for an official. Comparably good conditions cannot be achieved with an equivalent income from the private sector. The reasons for the civil servant privilege in lending are easy to explain. The state employer cannot become insolvent. The income is therefore secure. A civil servant cannot be dismissed unless he commits serious crimes. Compared to the free economy, incomes are high and are paid in full until retirement. The pension is then about 75 percent of the last income.
Further reasons for preferential financing
Civil servants take it very seriously at work. As civil servants, they are obliged to do so towards the state. This behavior continues in private life. Studies show that the risk of bad payment behavior can almost be ruled out for loans for lifetime officials. The good reputation of the profession, therefore, has a real background.
Loans for civil servants are less likely to suffer. Credit defaults are a rare exception. The lender does not have to take into account the cost of coercive measures or the risk of impairment. The extremely cheap loan for lifetime officials is the logical consequence of the reduced credit risk.