Which loan offer do you expect? With credit for police officers of a bank or the official loan of an insurance company?
Does the lender care about you, you want to finance in any case low-interest, matching the personal credit rating?
Then you are right here.
We present different loan offers for police officers.
Credit with State Service Bonus – Tooltip
- Loans for police officers are usually a loan request with excellent credit rating
- Therefore, compare loans to the credit-based interest rate
- Please do not rely only on the 2/3 example
- Ask for a personal loan offer right now – a non-binding application will suffice
Credit for Police Officers – Change in the credit landscape
A few years ago, credit for police officers would have been a clear decision. Between credit to civil servant credit or the credit of a life insurance was chosen.
Credit for police officers – fast & cheap – paid within 48 hours
Both offers included benefits that remained closed to the “ordinary citizen”. Not only the general interest rate level for installment loans has changed in recent years.
In addition, the approach of rating good credit has also changed. Cheap financing, no longer sticks to well-known models.
Comparisons show “credit for everyone” with good credit and low interest rates. Most direct banks no longer categorize according to tariffs for private and public sector borrowers.
The official credit of the provider is noticeably lower interest rate than for employees of the private sector. A significant advantage of the loan would be the 144-month financing.
Offer comparison – Credit with official bonus
Low-interest loan for police officers is an installment loan with above-average credit rating. In the past, credit institutions nationwide used the credit requests of employees of the public service through loans to the official tariff.
The choice of employer decided on access to the reduced credit. Only permanent employees were entitled to apply.
For credit institutions, this was the easiest way, without a modern scoring, to filter out borrowers with a generally very good credit rating. The good reputation of the employer qualified low interest rates.
Meanwhile, this selection is considered outdated. Why should the chief physician of a hospital, now long a limited liability company, learn a worse classification, as the chief physician of the Hospital?
The changes in the labor market, from the hired teacher to the temporary employee at Swiss Post, no longer cover the old system in a realistic way. Most credit institutions use the advertising effective term “official tariff” still in the branch loan.
Nevertheless, cheaper loan rate is not a blanket offer to a particular professional group. Lending rate is always firmly linked to the good score, a positive budget statement and a reasonable income.
Credit tip – favorable interest rate for civil servants
The status of a lifetime officer affects the score. Father State can not terminate his officials.
The salary is safe and on time on the account. In direct comparison to the “privately employed protection personnel”, police even earn quite well as a beginner.
Low-interest loans for police officers would therefore be expected from any credit provider. Nobody should be guided by a nice sounding name, whether official tariff, police credit or credit for civil servants.
What counts are good credit conditions and favorable financing costs.
Civil service loan – finance long-term loan sums
By the way, the term “civil servant loan” is predominantly assigned to a life insurance loan. The lending links the company to the conclusion of a capital-forming life insurance.
The majority of the insurance benefits (in the case of survival) repay the loan. As a loan for police officials was the civil service loan, especially for building a house at a young age.
The advantage of this loan is the financing of high loan amounts with extremely long maturity. Up to 20 years’ maturity for end-of-term credit, even longer for very young officials, would be realistic for repayment.
The disadvantages have always been the slightly higher financing costs. Since no repayment installment was to be included in the installment, the installments nevertheless remained sustainable.
In the past, civil servants’ credit over life insurance showed its strength as cheap financing on the due date. The loan amount was repaid “in one go” by the insurance benefit.
High current interest payments of the past are relativized by the profit participation. Today, however, life insurance lacks the opportunity for a well-yielding investment.
Without a high surplus participation, the loan for police officers over the life insurance is often clearly too expensive.
Which interest rates are worthwhile – grade?
For lending officials are basically always attested a particularly good credit rating. Nevertheless, the “Zinspoker” is worthwhile, due to the particularly favorable credit-related entry-level interest rates, usually not.
For the low advertised interest rate eligible only those interested in the score a first-class credit rating. At the same time, a higher than average income is generally required.
Too high income, as a second “pillar” of creditworthiness, for particularly discounted credit for police officers, leads only to an above-average grade. High salary levels reach police officers usually only in advanced seniority or never.
From the point of view of the credit institutions, the professional status achieved should already lie within the framework of the management of a larger authority. A serious study on the percentage of borrowers actually paying only the minimum interest rate is missing.
Nevertheless, the share of winners in interest poker should be in the lower single-digit percentage range. Most of the cheapest interest rate policemen are likely to get at the credit rating independent lending rate.
For the planned car purchase, for example, there would be currently the ING DiBa credit recommended. Only 2.79 percent APR is paid to all borrowers who are qualified for the offer.
Credit for police officers – despite high debts
Good credit rating for civil servants can suffer. After large purchases, the credit limit for regular bank credit can be reached.
Incidentally, a creditworthy solution offers a serious way out of the high collection or other urgent credit requirements. From 1.99 percent to 13.51 percent APR, the interest margin ranges.
Credit for weaker-rated policemen is likely to be approvable at about the interest rate shown by the representative example. In the present credit comparison, 2/3 of all borrowers pay 7.85 percent APR for freely usable installment credit.
If, for example, 8250 Euro were repossessed, 48 months in duration, borrowers pay € 199.79 per month for loans. Credit for police officers – in difficult cases – could alternatively be financed through lending companies.