In the financial world, creditworthiness decides who gets a loan and on what terms. Soldiers, especially those who have been in service for a long time, have a special status. Banks have realized that soldiers make very good money. Depending on the grade and foreign assignments, the total can be very high. Since soldiers get their money from the state, there is no fear of bankruptcy and unemployment. So it is very easy for this professional group to apply for loans for soldiers.
Which bank should I choose?
There are numerous offers for soldiers’ loans, so the selection is very large. Both direct banks, house banks and savings banks grant this loan. However, the applicant must mention during the interview that he would like to apply for this special loan. Otherwise it can happen that he receives a loan that does not include the good conditions of the loans for soldiers.
The applicant can choose the bank from which he would like to take out a loan. It is only important that he compares the large number of offers with each other. Not only are the good conditions filtered out, the selection is made considerably easier.
Conditions for a loan for soldiers
The conditions are far better than with normal installment loans for employees. Because banks see soldiers as a solvent customer who makes a lot of money and has a secure job, they are always rewarded with low interest rates and low monthly premiums. Depending on the loan amount, the term can be up to twelve years. This brings loans for soldiers and loans for civil servants very close. They are almost on the same level and can therefore also make demands.
Does residual debt insurance or life insurance make sense?
Since soldiers are doing a dangerous job, life insurance should be considered. If something happens abroad and in the worst case the soldier is killed, the family is covered by life insurance.
You then no longer have to worry about the loan. A residual debt insurance does not have to be taken out. This is only required if it must be assumed that someone can lose their job. Since this is hardly the case with soldiers, there is no need to take out residual debt insurance.