It is not just employees who need financing, it can also be the case for professional soldiers. For example, professional soldiers need a loan if they want to build a house or finance a new car. Since professional soldiers are treated as civil servants, borrowing is associated with very few problems.
Because soldiers are practically non-cancellable and a guaranteed pension is obtained, a loan for professional soldiers can easily be taken out. Professional soldiers with a high level of service can also expect the loan for professional soldiers to be accepted quickly.
What are the requirements?
With a loan for this professional group there are of course criteria that have to be met. Every professional soldier can fulfill the most important condition, the regular income. Since they cannot be terminated, the same salary is expected every month, so banks are happy to lend a loan to professional soldiers. The Credit Bureau is also checked for professional soldiers. If there is an entry for another loan, this must first be paid off with the loan for professional soldiers so that the rest of the money can be freely used.
With an entry in the Credit Bureau there are often worse conditions offered than when there is no entry. A negative Credit Bureau does not mean that the credit for professional soldiers is not granted. The creditworthiness still exists. Since the salary of the professional soldier is secured, as is his job, collateral is only rarely required from banks.
Real estate finance- loan for professional soldiers
If a professional soldier thinks about having a property financed by the professional soldier loan, collateral must be available. Collateral includes the registration of the land charge. A soldier does not have to worry about special repayment rights since the salary is not subject to fluctuations. Building society contracts are not tied to professions, but are not suitable for a property purchase, as the amount is only paid out when the contract is ready for allocation. In order to be able to finance a property, a large sum has to be raised. Since a soldier is treated like an official, he will be able to avail himself of the official credit.
The loan amount is high, but due to the long term of some 20 years, the monthly installments are very low. So it is definitely worth thinking about buying a property, especially at a young age. The installments are affordable and can be included very well in the financial planning. The interest rates here are very good and often much lower than for employee loans. To find the right bank for a professional soldier loan, the savings banks and banks can be compared.