For time or professional soldiers, there are several ways to borrow. The first variant is the credit of, which, however, is bound to certain criteria and will not be awarded indefinitely. The more flexible solution is credit via a financial institution, as it is usually not earmarked. Soldiers who have committed themselves enjoy a status among the banks equal to the officials and are therefore welcome customers.
Credit – Conditions
Time or professional soldiers can apply for a loan from the German Armed Forces, if for the first time to set up their own apartment or to finance the wedding. Low interest rates and small installments should make it easier for the person concerned to take the step into the new life. However, the loan is limited to a maximum of 2,500 euros and can not be used for any other purpose. A higher amount, which should be used for other things (for example, account coverage or purchases), can not be applied for by.
Credit – alternatives
Since the possibilities to get a loan are very limited, one should consider the alternative through a financial institution. If you are a time soldier, the loan can be applied for the remaining service. As a rule, banks or financial institutes generally award a civil service loan in these cases, which is characterized by favorable terms.
Professional soldiers enjoy the status of civil servants, as income is guaranteed by the civil service. You are in a solid working relationship, which can and will be terminated only in case of serious misconduct. As this is rare, the risk to banks of not making payments is relatively low. This security offers professional loans cheap loans that can amount to twenty times their monthly income. The duration can be set accordingly up to twenty years. Especially for financing, which are intended for the purchase of a property, the “official credit” is an attractive form of credit.
With time soldiers, however, the offer is limited to the remaining service time. The possible amount then depends on the monthly installments that can be paid to fully repay the loan within the time available. The conditions are similarly favorable despite this restriction, since the risk factor for the bank is also low here.
Prerequisite for a credit commitment on the basis of a civil service loan is also the positive credit information for soldiers. If this is before, it is also worthwhile to compare as a time or professional soldier offers to find the cheapest.
In summary, it can be said that the loan is possible , but only in exceptional cases and at a low level.
As an alternative, loans from financial institutions are particularly suitable if one has committed or is a professional soldier.