The credit for teachers – the benefits of public service.
Processing the application for a teacher loan is a pleasant task for every clerk. The teaching profession offers optimal conditions for credit approval of almost any normal size. Various advantages come together. The biggest individual advantage is of course the employer. Father State always pays on time. There is no risk of bankruptcy, which threatens every employer in the free economy. In addition, most of the teachers are civil servants. The risk of losing your job is therefore also excluded.
Even in the event of illness or early retirement, existence is never at stake for teachers. The state always ensures that as far as possible all life risks, which also represent a credit risk, are secured in a compatible manner. In addition to the general advantages of the public service, a teacher is also paid fairly. There are basically no problems with overcoming the garnishment limit with a loan for teachers. No teacher becomes rich through his income. Nevertheless, it is, with the safest payment, to be located in the upper range of the social midfield. This creates ideal conditions for long-term lending.
Teachers are spoiled for choice with providers.
If you have such good conditions for a loan, the doors of all providers are practically open. Local providers, as well as direct banks and special providers, lure with special offers. Every provider can benefit from his financing offer. For local providers, it is regional funding that stands out as part of real estate financing and renovation measures. A subsidy is then added to the low-interest offer. The “green roof subsidy” for the renovation of the house roof, to name one example.
On the Internet, the special financiers for official loans are particularly attractive with particularly cheap offers. The interest rate for these financing offers and the loan conditions are tailored to public sector employees. Extremely long financing, with low rates and good interest rates, are the strengths of these offers. This is made possible by the exclusion of people outside the public service. Those who do not provide loans to risk groups have to expect fewer defaults. The savings from the minimized credit risk benefit all borrowers.
Insurance offers the official loan for teachers.
It is not just the banks that are struggling to be able to grant loans to teachers. Life insurers must invest their money safely and profitably in the interests of the insured. Your offer for home finance is therefore the official loan. In principle, it is a life insurance. The only risk in the life of a civil servant that is not insured by the employer is death. Life insurance closes this gap with its offer.
The loan for teachers through life insurance is an end-time loan. Only interest and insurance premiums are paid during the term. The actual loan is only repaid when the sum insured is distributed. The profit shares are also distributed to the insured. In particular, due to the almost endless repayment periods, the early conclusion of an official loan as a loan for teachers is an interesting building loan.