Loan to lifetime officials


You are not born a civil servant, you have to earn this status first. Just like other workers, civil servants have a trial period. Only when this has ended is the status for life. The employment relationship can be terminated during the trial period.

Afterwards, the official cannot be terminated. He is only threatened with dismissal from civil service in the event of serious misconduct. The same applies to the other public sector employees. They enjoy the same non-termination status as their civil servants. It is therefore no wonder that the banks argue about this target group and outbid themselves with offers.

Loan to lifetime officials

Loan to lifetime officials

Those who have achieved status no longer have to worry about financial matters. Not only does the salary arrive on time in the checking account, the pension is also taken care of, since the state also pays the employee’s share of the pension contributions. An official can therefore count himself lucky if he applies for a loan from his bank, because a rejection is hardly to be expected.

The officials benefit from particularly low interest rates and longer terms without affecting the amount of the interest. The banks practically reward the professional status that an official holds. It is no risk for them to grant a loan to lifetime officials. Failures are not to be expected. Anyone who is a civil servant for life usually stays until his retirement.

Nevertheless, protection is still the order of the day

Nevertheless, protection is still the order of the day

An official quickly gets a loan from the banks, but provision should be made for large amounts of credit. Many officials use loans to buy or build real estate. These loans are for a longer period of time and after the first financing, follow-up financing comes into consideration after the first loan contract has expired.

To ensure that the family does not face bankruptcy in the event of death, a long-term loan should be secured accordingly. Police officers, in particular, should consider securing their family, as this job involves a high level of risk.

When can an official become unemployed?

When can an official become unemployed?

Usually, an official only faces transfer to another agency if he has been guilty of something. In the event of gross misconduct, however, he can be dismissed from service. However, this requires criminal acts, otherwise it will be difficult to end the employment relationship. But an official also has the option of terminating service with the state on his own and switching to the free economy. However, this also means the loss of special status, which can also affect a loan for life officials.

Availing Home renovation loan

The renovation of your own house is not always planned, but often there are also short-term renovation work that must be done quickly to prevent major damage. However, financial capacities are often not sufficient, particularly in the case of unplanned renovation work, which means that a loan is required for a house renovation. Under certain conditions, this can be obtained from numerous banks.

Which loan is suitable for home renovation?

Which loan is suitable for home renovation?

In principle, all credit products are suitable for financing that offer free use. In particular, the numerous banks on the Internet have made a decisive contribution over time to the fact that the borrower can now benefit from attractive offers if the different providers are thoroughly compared. Particularly in terms of flexibility and interest rates, many providers have improved the conditions and now offer attractive borrowers to potential borrowers. However, the wide range of offers has also made a decisive contribution to making comparison of credit products not only all the more important, but also significantly more difficult.

Loan for a home renovation on the Internet – what should be considered?

Loan for a home renovation on the Internet - what should be considered?

When comparing loan offers on the Internet, the primary focus should be on the effective interest rate, as this is decisive for the total loan costs. In contrast to the borrowing rate, the effective interest rate can be influenced by the borrower, for example through the loan amount, the term and the credit rating. Borrowers with a high and constant income and positive Schufa information can look forward to a low effective interest rate.

However, people with a low income also have the opportunity to get a low-interest loan, for example with a low loan amount and a short term, because in practice these loans have a low risk of default. One advantage of all offers on the Internet is that the loan can be applied for quickly and easily using an application form. This usually only takes a few minutes.

Find credit for home renovation through a comparison on the Internet

Find credit for home renovation through a comparison on the Internet

Comparing the providers on site would be a cumbersome and time-consuming task. Fortunately, there are now numerous financial portals on the Internet that nowadays enable a free loan comparison with a loan calculator. First, the desired factors such as loan amount, installment amount, term, etc. are entered and within a few minutes, taking into account the individual criteria, numerous providers are listed. The advantage of this is that the search criteria can be changed several times until the loan really meets your own needs. In this way, the best offer can be easily and effortlessly filtered out by securing the lowest interest rate and saving a lot of money in the long term.


Loan term – Influence the interest rate

Not only the loan amount, the personal creditworthiness and the choice of the loan provider influence the interest rate, but also the term of the loan. If you are not sure which loan offer you take out with an optimal term, we have put together all the relevant information for you.

Our guide also offers you a look behind the scenes, you will be surprised. The unsuitable term can have much broader consequences than just the noticeable impact on the interest rate.

Loan maturity – don’t just look at interest rates

Loan maturity - don

The first glance at the interest comparison in the loan comparison calculator shows that short-term loans are cheaper than long-term financing. The term of a loan often has – even with the same loan provider – greater interest effects than the amount of the loan. In conclusion, it is only human to finance as short as possible so that the overall financing costs are as low as possible.

The interest comparison calculator makes it easy to discover the best interest rate term for installment loans. The term is used to “play” with the term until the effective interest of an interesting offer is at the bottom. Now a quick comparison with other banks as to whether there is a particularly favorable interest rate hidden behind a certain term.

In addition, nobody likes to postpone a loan for a long time. The motto, “It will be tough, but then I will quickly get away from it” is very common. Of course, nothing can go wrong with a “sewn on edge” financing. The bank is happy to offer RSV (residual debt insurance) against unemployment or illness. It is well insured for brisk debt repayment.

It would be advisable not to concentrate solely on the comparison of interest rates and to leave the security to an RSV. A look at the calculator proves that saving interest on a short term does not make up for the costs of the RSV. The small interest gain does not pay off, compared to about 20 percent of the loan amount as an insurance contribution, not guaranteed!

Term loan for installment loans – take out long-term and pay back quickly

Term loan for installment loans - take out long-term and pay back quickly

The likelihood that a borrower dies prematurely up to middle age is extremely low. Repayment ability in the event of illness or unemployment can also control the duration of loans. Instead of horrendous insurance costs, the interest burden increases to a comparatively modest extent. However, the rates will be noticeably lower if the proper safety reserve is saddled up for the minimum term. The loan remains affordable, even if unemployment and illness reduce income.

Nevertheless, nobody wants to pay off their debts for a long time. The loan repayment, despite a generous term, can be made just as quickly as with a “sewn on edge” financing. There are only two things to consider. A look at the loan terms shows whether the lender grants the right to free special payments of any amount. If he doesn’t, the competition looks forward to you as a solvent borrower.

The second point is more difficult to do. Borrowers can reduce the actual term at will by special repayment, provided they save their credit. The easiest way to do this is to place a standing order on a savings book. Borrowers then pay the difference to the maximum portable installment amount monthly in a savings book. The bottom line is that the waiver of the RSV is worth it in two ways.

Smartly measured maturity – guarantee of your secure solvency

Smartly measured maturity - guarantee of your secure solvency

By optionally extending the term of the loan, the borrower saves the insurance premium and retains additional financial scope due to the savings. Problems that are not insured by RSV, for example, would be an unscheduled car repair or an unexpected additional loan requirement. If repayments are made with binding high rates, it is difficult to adequately respond to additional money requirements.

Borrowers who only pay back small installments retain their financial scope. The car repair is exceptionally paid for by the savings book, the existing credit obligation is still serviced in accordance with the contract. It just takes a little longer for the loan to pay off. The chance of being able to pay an additional installment loan safely speaks even more clearly for a suitable long loan term.

When it comes to lending, every credit institution calculates very precisely that the household bill proves a secure repayment. Of course, the existing loan rate is included in the calculation. With average income and high installments, it is not certain whether a second loan can be approved. Once the term has been chosen carelessly, borrowers will only find what they are looking for when they need additional financing.

Loan term – the most important thing for fast readers

Loan term - the most important thing for fast readers

Borrowers can finance optimally if they do not only pay attention to the term with the cheapest effective interest rate. Loan offers with a relatively short term are particularly cheap in the loan comparison calculator. The most expensive mistake would be to tie the financing on edge with a view to the low interest rate. The high rates once agreed do not change.

An additionally concluded RSV protects against the real risk of unemployment and illness, but makes the financing massively more expensive. The lesser financial evil would be to measure the term of loans in such a way that payment in installments remains sustainable in “bad times”. Nevertheless, every borrower is still free to repay quickly.

Instead of a bindingly agreed high repayment rate, the borrower voluntarily makes regular special payments. If unexpected costs require additional money, the long term of the loan pays off twice. Smaller money worries will solve themselves if special payments are waived for a while. If there is a greater need for financing, the path to regular extra credit remains unobstructed due to the cleverly chosen term for loans.