Soldier loan – the loan for soldiers

Serving as a soldier for the country is generally a great thing. But do you know that banks reward engagement? This is done in the form of special loans that only professional and temporary soldiers receive. They also get loans from the house bank, but the terms are usually worse. A visit to Capital Lender is worthwhile, because we compare the best offers.

Best Bank employer

Best Bank employer

The Best Bank’s primary task is to ensure peace. This includes ensuring relaxation and reconstruction in crisis-ridden regions. Conscription continued until 2011, and today the state is only permitted to call soldiers in the event of tension or defense. However, you can do voluntary and paid military service. Time soldiers decide how long they serve the Best Bank. The possible time spans are between four and 20 years, after which military service can theoretically continue until retirement age. Professional soldiers enter into an unlimited employment relationship right from the start. Apprenticeships as well as further training measures at school are often part of the service, which is of benefit to the professional career after leaving the company.

Best Bank: top earnings and financial security

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The Best Bank’s earning opportunities are ideal for professional and temporary soldiers. The salary is similar to the salaries of civil servants (comparable to loans for police officers), it results from the federal salary regulations A and B. The grade and the years worked determine how high the salary is. In individual cases, special supplements are added, for example for pilots, combat swimmers or company sergeants. Depending on the living conditions, married as well as compulsory military service recipients receive substantial family allowances in addition to the basic salaries. In short, unlike many other people, soldiers are financially well off. Those who do military service do not become unemployed so quickly. The pay comes regularly to the account and a loss of income is not expected. Banks reward this with attractive framework conditions, since in most cases there is long-term planning certainty. You know very well that you are very likely to get your money back. Soldiers are valued borrowers at almost all financial institutions.

In principle, professional soldiers have the status of civil servants because they serve the state until retirement age, like teachers, ambassadors, police officers and the like. So you are also entitled to a solid pension. You even have the option of taking a medium or higher civil service career within the Best Bank. That is why banks often refer to soldier loans as civil servant loans. The career is open for temporary soldiers. After military service, they can start a new job on the free labor market, but they too are entitled to pension payments. How high these are depends on the number of years of service.

Despite good earning potential, the wages are not always enough to make the necessary purchases, treat yourself to a vacation trip or buy a new car. A soldier’s loan opens up financial freedom. What soldiers use a loan for is up to them. The loans are suitable for both short and long-term financing.

Residual debt insurance: compensate for risks financially

In peacetime, the risk of suffering damage to health while working is quite low. The situation is different, however, for war and foreign missions. If soldiers get into conflict, nobody can guarantee the integrity of life and limb. But that’s because of the nature of things and young professionals as well as old hands are aware of the dangers. To ensure that relatives do not remain on an open loan in the event of death, there are residual debt insurance plans. They can be taken out in addition to the loan on a voluntary basis. In the event of non-indebted payment defaults, such as incapacity for work or unemployment, they step in. In such cases, the rather expensive insurance companies pay outstanding outstanding debts. They offer a high degree of financial security, particularly for long-term loans.

Soldier loans: It depends on the term

Soldier loans: It depends on the term

Soldier credits score with attractive special conditions. When applying, it does not matter whether the soldier is a woman or a man. The only difference is the type of military service. Just a reminder: temporary soldiers are committed for several years, professional soldiers are employed by the Best Bank for an unlimited period of time. Those who belong to the first professional group benefit from top interest rates on loans with short terms. Temporary soldiers receive loans with simplified acceptance requirements, with no lengthy processing procedures to be expected. Professional soldiers receive attractive conditions for short and long-term loans.

When applying, time soldiers should especially note that the expected service time is longer than the term. In general, the amount of the loan must be financially sustainable – by the way, this applies to all forms of loan. If the burden is too high, a carelessly chosen loan quickly turns out to be a financial effort. Sufficient creditworthiness always has a positive effect. You can increase this with a second borrower, among other things, if the pay is insufficient for the financing request. Numerous banks are also accommodating, which means that existing SCHUFA entries can still result in a loan. For temporary and professional soldiers, it is advisable to notify the bank of current and upcoming international missions in order to avoid legal disputes from the outset.

Compare soldier loans with Capital Lender

Compare soldier loans with Capital Lender

Soldier loans can be applied for conveniently online – 365 days a year, around the clock. The way to the bank and the associated appointments with the customer advisor are unnecessary. But not every financial service provider offers special soldier loans. If this is the case, however, the loans can sometimes be difficult to identify on the provider website, they often hide behind other names. Better stick to a professional like Capital Lender. We search the tariff jungle with a professional eye and present you with the most attractive soldier loans.

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Online loans give banks high sales

Online loans give banks high sales

Banks advertise their products a lot. Online loans in particular are repeatedly advertised intensively on the Internet. This is no coincidence, because banks make good money from lending.

When taking out a loan, you should make sure that you do it reasonably. It is not uncommon for consumers to apply for credit too carelessly and thus get into a debt trap. It makes sense to finance important and long-lasting purchases, such as furniture or household appliances, with a loan; it is rather unwise to use a loan for luxury goods or items that are not really necessary.

Before you apply for an online loan

Before you apply for a loan online, you should try to use all free funds to avoid debt. Some consumers also prefer to borrow money from family or friends. This type of loan often results in lower or no interest.

Banks always grant a loan over a certain term. A term of twelve to 120 months is usually to be agreed for an installment loan. The shorter the loan term, the higher the monthly loan installments to be paid, but the cost of the loan itself is also lower. If the personal financial situation allows it, you should choose a short term to pay off the loan as quickly as possible and thus save costs.

Longer terms equate to higher interest rates

Longer terms equate to higher interest rates

However, many consumers want to avoid high monthly rates and therefore choose a longer term. The monthly installments are then low, but the interest rates are higher and thus the total cost of the loan applied for. A loan can often be redeemed early: for example, through bonus payments or due to some other blessing.

Early repayment is not a problem for loans because loans can be terminated at any time. It may well be that a prepayment penalty has to be paid to the bank, but this is only one percent of the outstanding loan amount. If the loan contract only runs for twelve or less months, only 0.5 percent is incurred. This means that the costs of paying off a loan early are limited. For this reason, it is worth striving for an early redemption because this can often save you relatively high borrowing costs.

Inexpensive online loan – creditworthiness required!

Inexpensive online loan - creditworthiness required!

Before a loan is issued by a German bank, the creditworthiness of the borrower must be checked. For this, evidence of a permanent and non-terminated employment relationship as well as a regular and sufficient income are required. In addition, a query of the Credit Bureau data is part of every credit check.

Credit Bureau information is obtained to check how the customer’s past payment history was and whether he can be classified as creditworthy. The better a consumer is at Credit Bureau, the more likely it is that a loan will be granted. Those who have negative entries or characteristics can usually not get a loan from a German bank.

However, it is now possible to get a loan without Credit Bureau. This is a so-called credit without Credit Bureau which is granted by banks abroad. It is now also possible to take out a loan without proof of income.

In any case, it makes sense to check the data in advance at Credit Bureau to see whether all entries are correct. If this is not the case, Credit Bureau is obliged to correct the data. So that the Credit Bureau data are not negatively influenced, it is important when making a loan comparison to only make condition requests to the various banks and not credit requests.

Loans despite unemployment

In terms of income, people who have been out of work for a longer period of time only have the social allowance paid to them by the state. However, this does not represent income in the sense of the general credit conditions, which is why it is very difficult for the unemployed to get help in the form of a loan in the event of financial problems. Especially since the monthly social allowance is often just enough to maintain your livelihood.

Loan offer via the house bank

In this case, a loan offer via the house bank is omitted directly. Credit providers on the Internet nevertheless offer corresponding financing offers that are also suitable for the unemployed. Loans for the unemployed or unemployment loans can also be used to get new liquid funds for people without a job. The mediated loans can also be processed without Schufa, which is especially important for the unemployed and their creditworthiness.

But how is it possible to get a loan as an unemployed person?

In contrast to the house bank, where the customer’s solvency counts, it is the case with a loan for the unemployed that the loan collateral must be provided in the form of guarantees, real estate or by a co-applicant. The creditworthiness can also be achieved if a co-applicant (spouse, relatives, etc.) has sufficient income. It is important for the unemployed borrower but that one should not take out a loan at any cost, even if one is currently in a financially explosive situation.

Because a loan has to be repaid in the long term, which means that the monthly installments have to be paid over this time and your own income has to withstand this burden permanently. If you are sure you want to apply for a loan for the unemployed, you should first compare some offers and only then decide on the suitable offer with the best conditions. In the case of unemployment, also make sure that some insurance contracts waive the contributions during the period of unemployment.