Soldier’s credit – the credit for soldiers

Serving your country as a soldier is generally a great thing to do. But do you know that banks reward the commitment? This takes place in the form of special credits, which are exclusively granted to professional and temporary soldiers. They can also obtain loans from their bank, but the terms and conditions are usually less favorable. A visit to us is worthwhile, because we compare the best offers.

Employer German Armed Forces

The task of the Bundeswehr is primarily peacekeeping. This includes providing relief and reconstruction in crisis-ridden regions. Conscription existed until 2011, today the state is only allowed to call up soldiers in case of tension or defense mandatory. However, they can do voluntary and paid military service. Regular soldiers decide for themselves how long they will serve in the Bundeswehr. The possible time spans are between four and 20 years, then the military service can theoretically continue until retirement age. Professional soldiers enter into a permanent employment relationship from the outset. Training and further education are often part of the service time, which benefits the professional career after leaving the service.

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Bundeswehr: top pay and financial security

The earnings opportunities are optimal in the Bundeswehr for professional and temporary soldiers. The salary is similar to the salaries of civil servants (comparable to loans for police officers), it is derived from the federal salary scale A and B. The rank and the years of service determine how high the salary will be. Special allowances are added in individual cases, such as for pilots, combat swimmers or company sergeants. Depending on their living conditions, both married and dependent military service members receive handsome family allowances in addition to their basic salaries. In short, soldiers, unlike many other people, are financially well off. Those who do military service do not become unemployed so quickly. The pay comes regularly on the account and a lack of income is not to be expected. Banks reward this with attractive framework conditions, since in most cases long-term planning security is given. You know very well that you will get back the money you lent with a very high probability. Soldiers are valued borrowers by almost all financial institutions.

In principle, professional soldiers have the status of civil servants, since they serve the state until retirement age, just like teachers, ambassadors, policemen and others. Thus they are also entitled to a solid pension. You even have the opportunity to pursue an intermediate or higher civil service career within the Bundeswehr. For this reason, banks often refer to loans to soldiers as loans to civil servants. For regular soldiers, the career path is open. After their military service, they can take up a new job on the open labor market, but they are also entitled to pension payments. The amount of these depends on the number of years served.

Despite good earning potential, the pay is not always enough to make necessary purchases, treat yourself to a vacation or buy a new car. A soldier's loan opens up financial freedom. What soldiers use a loan for is up to them. The credits are suitable for short as well as long term financing.

Residual debt insurance: Balancing risks financially

In peacetime, the risk of suffering damage to health during the exercise of a profession is quite low. The situation is different, however, when it comes to war and foreign assignments. If soldiers get into conflicts, no one can guarantee the integrity of life and limb. But that's just the nature of things and young professionals as well as old hands are aware of the dangers. So that relatives are not left with an outstanding loan in the event of death, there are residual debt insurance policies. They can be taken out in addition to the loan and on a voluntary basis. In case of payment defaults through no fault of your own, such as incapacity to work or unemployment, they will step in. In such cases the quite expensive insurances still settle outstanding residual debts. They offer a high degree of financial security, especially for loans with long maturities.

Soldier loans: it's the term that counts

Soldier loans score with attractive special conditions. To apply, it doesn't matter if the soldier is a woman or a man. The difference is only in the type of military service. Just a reminder that regular soldiers commit themselves for several years, while professional soldiers are employed by the Bundeswehr indefinitely. If you belong to the first occupational group, you benefit from top interest rates on loans with short maturities. Temporary soldiers can get loans with simplified acceptance terms, with no lengthy processing procedures to contend with. Professional soldiers obtain attractive conditions for short- and long-term loans.

When applying, temporary soldiers in particular should bear in mind that the expected period of service is longer than the term of service. In general, the loan amount must be financially viable – by the way, this applies to all forms of loans. If the charges are too high, an ill-considered loan quickly turns out to be a financial hardship. Sufficient creditworthiness always has a positive effect. Among other things, you can fulfill them with a 2. Borrowers increase, should pay be insufficient to meet financing needs. Numerous banks are also accommodating, so that it sometimes comes with existing SCHUFA entries nevertheless to the credit conclusion. For temporary and professional soldiers, it is advisable to notify the bank of current as well as upcoming foreign assignments in order to avoid legal disputes from the outset.

Compare soldier loans with credit expert

Soldier loans are convenient to apply for online – 365 days a year, around the clock. Eliminate the need to go to the bank and the associated meetings with the customer service representative. But not every financial service provider offers special soldier loans. If this is the case, however, the loans are sometimes difficult to spot on the provider's website, they often hide behind other designations. Better stick to a professional like Kreditexperte. We sift through the rate jungle with an expert eye and present the most attractive soldier loans to you.

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