Are you looking for a loan for lifetime officials? Do you tend to traditional credit models, such as a B-tariff loan or an insurance policy for civil servants?
We would like to interest you in critically examining the classic financing offers. The bottom line for credit is the financing costs and the credit terms. Modern credit for every solvent citizen has now overshadowed many classic civil servant loans.
Loan for lifetime officials – solvent borrowers
Virtually every credit institution rolls out the “red carpet” when a loan is requested for lifetime officials. The current credit market is characterized by a flood of offers with the lowest interest rates. What is missing is the demand from solvent borrowers. The low lending rates of the present day have long been calculated in such a way that loan defaults do not leave the credit institutions without a trace.
Granting loans to civil servants for life is considered one of the safest lending arrangements. The good credit rating as a secure repayer once led to the fact that official loans and loans with a B tariff were even launched. Without the technical possibilities of a cross-regional loan comparison, the special offers for civil servants were long superior to the conceivable loan alternatives.
It is no longer up to date to apply for a loan for a civil servant based on a classic model from house banks with a B tariff or a national special provider. It rarely leads to the optimal loan offer. The many direct banks have long wanted to take over their share of the secure lending business. They appear through attractive credit-related interest offers and the best loan conditions for solvent borrowers.
Civil servant loan – insurer in the interest gap
The official loan provides a clear example of the major upheavals in the financial market in recent years. In the past, a life insurance civil servant loan was a secure, future-proof financing for large financial commitments. Many young civil servants found easy and secure access to affordable home ownership through the civil servant loan. Financing became interesting for two reasons.
On the one hand, the loan did not have to be repaid, but the loan was a financed contribution loan with due date. If life insurance was taken out at a young age, the premiums were very low due to the extremely long term. The second aspect was the profit surplus. The life insurer reimbursed a large part of the self-paid interest with the profit sharing.
The profit sharing reduced the real financing costs enormously. The surplus was distributed when the insurance became due, mostly shortly before retirement. The loan for lifetime civil servants was only calculated as a civil servant loan in connection with the guaranteed interest rate. The surplus ensured a smooth start to retirement with paid real estate. But times have changed.
Today, many life insurers would probably be insolvent if they only had to make the originally agreed interest payments. Shaken by the low interest rates of the Best Bank, insurers hardly find any worthwhile investment opportunities. In addition, life insurance is now taxed retrospectively. Whether the house is ultimately debt-free remains doubtful, since tax exemption and guaranteed interest were part of the original calculation.
Special loan for civil servants versus credit for every citizen
B-tariff credit was the second particularly low-interest classic financing for civil servants. In principle, it is an ordinary installment loan. It was only considered to be particularly low-interest due to the restriction of lending to a restricted group of people. Anyone can quickly determine whether this is still the case today by means of a simple loan comparison. Just go on the loan for lifetime officials of the 2016 installment loan test winner.
Enter the desired loan in the installment calculator. We enter 10,000 loans with a B tariff and a term of 60 months. The rate calculator of the special bank for civil servants shows a monthly rate of 187.99 USD and 4.95 percent APR. The financing costs a total of 1,279.40 USD in credit costs. We now feed a free credit comparison with the same specifications.
A mid-range interest rate offer that is independent of creditworthiness is selected. A very well-known bank from Germany offers 10,000 loans at the non-creditworthy “everyone’s interest” of 3.89 percent effective annual interest. Monthly payments in installments would have to be made in the amount of 183.36 USD. The cost of the financing, the free credit comparison, despite interest independent of creditworthiness, is only $ 1,001.87.
Conclusion credit comparison:
Even without playing off the excellent credit rating for the lifetime civil servant, the “Everyman Loan” was 270 USD cheaper. It clearly shows that a loan comparison also pays off for civil servants. Just to pay attention to the B tariff, this no longer automatically leads to the lowest interest loan.
Credit through Astro Finance – interesting for lifetime officials of all ages
With the loan search, wasting no time looking at all credit options at a glance, Astro Finance offers a reputable point of contact. The loan required for lifetime officials could come from a bank or private investors through Astro Finance. Bank credit provides Astro Finance free of charge for borrowers through its comprehensive loan comparison. If the finances are not quite as good and for pensioners, a look at the credit marketplace is also worthwhile.
Although private investors are generally considered to be willing to take risks, most investors just want to invest safely. Credit security, even with private loans, is always more important than agreed high interest rates and the risk of losing money later. Due to the high reputation of the civil servant, the loan for lifetime officials is sure to attract investors’ attention. There are no age limits for pensioners.
The loan from privately through Astro Finance was already rated by the DIW in 2011 as an excellent loan option for senior citizens.