If you want to take out a loan for civil servants for life, you are certainly one of those customers who get the best possible loan conditions from the banks. Because civil servants have no fear of a pension gap, nor are they affected by the significant deterioration in protection against dismissal for industrial workers. With a loan for civil servants you should therefore pay attention to the following:
Provide clear information in the loan application
The clerk at the bank processing the loan application cannot infer what professional status an employee has in the public service. If you are an applicant in the civil service, you are in a temporary position (such as for a temporary soldier) or you have already been appointed as a civil servant for life.
This information will have a not inconsiderable impact on the monthly income and creditworthiness. Make sure to provide the correct information, because no one can deduce the exact professional position from the employer information (e.g. senior finance directorate).
Starting from today’s pay group
Otherwise, the decision of the borrower is much easier than with many others: the pay groups and tariff levels are fixed and with the exception of one official post, which may be transferred to the test for 6 months, a downgrading to a lower level is the absolute exception.
Therefore, with a loan for civil servants for life, you can usually assume the existing income situation and update the monthly budget balance with a clear conscience. If you then set a monthly rate that is not too high, borrowing and monthly repayment will be very convenient and easy.
Young officials should consider maximum amounts for the loan amount
Public sector borrowers should, however, observe some internal regulations and instructions for which they can obtain further information from the personnel department. Since the insidious attacks of September 11, 2001, the circle of officials who have to pass a security check under the Security Check Act has been expanded. This provides for orderly financial relationships – even after being hired or taken on into the public service. Therefore, a real estate loan or a private customer or consumer loan is perfectly ok.
However, if this leads to extensive and excessive visible consumption, the official should warn his professional environment easily and carefully. Before there are misunderstandings about the revenue situation. Otherwise there is nothing standing in the way of a loan for civil servants for life.