A credit for civil servants scores especially by the favorable conditions. These employees are often denied.

The maturities are longer and the loan amounts much higher than a normal loan. The credit check is done quickly.

Easy credit check

Easy credit check

Anyone who needs a lifetime civil servant loan will experience a slimmed down form of credit check. Lifetime officials are non-terminable. Thus the income is secured. Unemployment is almost non-existent for civil servants.

Thus, they are the best customers in the eyes of the banks. It has to be proven that he is a lifetime civil servant. The income documents of the last three months are needed. Non-terminable civil servants, academics, and professional soldiers can also apply for life-long credit.

As with employees but also the private credit is checked. There must not be any negative entries here.

Determine revenue and expenditure

Determine revenue and expenditure

The bank will determine revenue and expenditure in the case of an application for a lifetime civil servant loan. Thus, the rent, the cost of living, insurance and credit are considered.

Should the bottom line be enough money, a loan can be taken in any amount. If entries are in the private credit, the credit must be set so high that the debts are repaid. Proof must be provided that the invoices are paid. Once the invoice has been created, a loan amount can be determined.

The installments must fit the financial scope. Since officials have a high income, which rises once a year, there will be little problems.

Check private credit entries

Check Schufa entries

The private credit should be queried once a year. This is a free service. Officials can see which entries are present and how high the score is. This is important. Officials applying for a lifetime civil servant may not have negative entries.

If any are available, the loan amount must be increased. This will then settle all debts. Who can, should try to delete as many entries as possible in advance. This only happens when the open invoices are paid.

So the score rises and the interest will be even better for the client. Should the score be too bad, a co-applicant should be present for the credit to be approved.

Particularities of credit for civil servants

Particularities of credit for civil servants

A lifetime civil servant loan is subject to different rules than an employee. Thus, the term can be taken up to 24 times the income. This results in terms between 120 and 144 months, if desired.

To finance a property or land is definitely given. If a civil servant earns 3,500 euros net per month, he can borrow up to 84,000 euros. The higher that is paid, the higher the credit can be. A term of 20 years is not uncommon for a lifetime civil servant loan.

Often, a life insurance must be taken. This is to guarantee the full repayment of the loan. If the borrower dies unexpectedly, the life insurance is used. So relatives do not have to repay the remaining debt.

Find banks for the application

Find banks for the application

It’s not hard to find a bank for a lifetime civil servant loan. A comparison portal helps enormously. Once the loan seeker has entered his desired amount and term, he sees who lends a loan.

In the details can be read whether the credit applies specifically to civil servants. The monthly charge for this loan is usually 200 euros to 300 euros. Anyone who takes out an additional insurance must pay only the insurance premiums.

These are accumulated during the term. Once the repayment term ends, these amounts will be used to repay the loan. Whether it really pays to show a comparison of insurance. The contributions can vary greatly.