November 30, 2019

Official loans compared – How to compare correctly


There are occupational groups that are particularly valued by banks. These include civil servants. They benefit from their almost permanent employment because they are civil servants for life. But their regular income from the state also makes them coveted customers. This is particularly noticeable when granting loans, because civil servants benefit from lower interest rates and longer terms.

There are differences in official loans

There are differences in official loans

A comparison of official loans clearly shows that the offers of the individual banks differ significantly. This applies not only to the amount of interest, but also to the remaining conditions. Officials get this advantage because the risk of default is extremely low, because if they are not to blame, they cannot be terminated.

Public employees also benefit from these advantages. When granting loans, they get the same benefits as their civil servants.

The purpose, conditions, special repayments and much more worth knowing

The purpose, conditions, special repayments and much more worth knowing

Some banks require the use of a government loan. Others, however, do not. Some government loans are even earmarked. But online banks generally don’t ask for it. However, with so many offers, it is not easy to find the right loan for civil servants straight away. It is therefore important to compare official loans against one another. The differences emerge here, which also brings a financial advantage. It is also important for decision-making whether the respective bank offers its customers a free special repayment right, because many require money for early loan repayment.

The handling of the banks is also different as far as the term is concerned. With longer terms, the rate can be reduced, which is an advantage for an official in training because of the lower salary. Official loans in comparison can be found on the Internet. The loan seeker receives all relevant information at a glance and can in most cases apply for the official loan directly from the bank online.

Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.

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