Loans to officials on a trial basisOn December 25, 2019 by ucchi
Loans for probation officers are generally not a major problem. Probation officials have successfully completed their training and, unless they prove to be completely unsuitable for civil service, are also offered permanent contracts. This makes probationary officials a very interesting clientele for most banks.
Official loans are granted by banks, savings banks and insurance companies and are characterized by long terms, very low monthly installments and the simultaneous taking out of life insurance. During the term, only the contributions to capital life insurance and no repayment contributions have to be made. The official loans are repaid at the end of the term.
For this purpose, only the contributions to capital life insurance are used. There is no general answer to whether official loans are also available as probationary loans. This primarily depends on the award criteria of the individual providers. An essential prerequisite for an official loan is the completion of the 25th year of life.
Installment and consumer loans
Anyone who cannot get a civil servant loan as a trial official would still have the option of applying for a normal installment loan from the bank. The only requirement is positive Credit Bureau information. In addition, the officials have a fixed income on probation, which is also expected from the banks. Even if they turn out to be unsuitable for civil servant status, in most cases they will be taken over into the public service and are then considered to be employees with permanent contracts.
Another option would be to extend the probationary period and later take on civil servant status. Due to the fact that there is a fixed income in every case, the banks are granting their loans to officials on a trial basis at particularly favorable terms. This includes long terms as well as low monthly repayments.
Compare loans for civil servants on a trial basis
Due to the fact that most probation officials have several credit options available, they should compare the individual loans closely. You should not only pay attention to the amount of the monthly loan installments and the length of the term, but also to the effective annual interest rate. It could be both credit-dependent and credit-independent. Prosecutors in particular often benefit from credit-related loans. You are offered particularly low interest rates.