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Take out a loan for soldiers

Anyone who is involved in the armed forces today has committed to being a regular soldier. Because military service, as it had to be done for many decades, no longer exists. The armed forces has become an employer that can be described as quite attractive. Because not only good opportunities for advancement are offered. Those who commit themselves for a longer period of time can learn or even study at the armed forces.

The Confederation also counts as an employer in the public service, which brings various additional advantages. Especially if you want to take out a loan for soldiers.

Civil service loan or installment loan?

Civil service loan or installment loan?

In principle, there are two different loan options that can be taken up depending on the professional status and the type of loan.

On the one hand there is the classic civil servant loan, which is also available for employees in the public service. It is particularly well suited when larger loan amounts are required over a longer period of time, since this type of loan always involves paying into an insurance policy, which then replaces the loan at the end of the term. So if you finance a property or otherwise need a large installment loan, the classic civil servant loan can be exactly the right choice.

The installment loan from an independent bank can be the winner when you are looking for a small loan with a manageable term. If the bank learns that the loan is for a soldier, it will take great pains to create a loan that comes with particularly favorable terms. In addition, with the help of a credit comparison, you can probe in advance and see which bank has which offer. This has the advantage that you can have a great influence on the interest rate structure and only ask the bank for a loan, which already has good offers from the start.

The period of the commitment decides

The period of the commitment decides

Even if the armed forces is considered a solid employer, the loan still requires some security. As there are time contracts that the soldier can negotiate individually with the armed forces, the banks and savings banks only grant the loan to soldiers if it can be repaid within the period of the obligation. This means that loans with a long term and a large loan amount are only possible if the borrower has been with the armed forces for many years.

In addition, as with all other loans, the loan for soldiers must be secured with a good Credit Bureau. Those who have negative entries in the Credit Bureau will only get a good loan offer if they find a guarantor for the loan. This must be of high quality, otherwise no bank will engage in a loan agreement.

We also recommend that you always take out life insurance for large amounts of credit. You never know how life will develop. And especially with the armed forces, a deployment can quickly occur that does not run optimally and does not allow further deployment in the armed forces. Those who optimally secure themselves and their families in the event of an emergency need not have any doubts that the loan will become a debt trap.