The loan for police officers is one of the least risky for the banks and therefore borrowers of this professional group can often count on better conditions. This is by no means unfair – as one might suspect at first glance – but just the positive variant of an interest surcharge for bad risks. Therefore, police officers pay a reduced interest rate similar to any other low risk.
Basically, the same rules apply as with other loans
The credit for police officers is granted according to the basically same rules as the credit for all other credit applicants. Upon submission of a current salary statement, the Bank will obtain a Credit bureau statement containing the loans that have been completed and any unpaid loans. In this context, a reference to banking secrecy is appropriate: the loan takes the police officer not as a civil servant, but as a private citizen.
Therefore, apart from the lower risk, it does not make any significant difference to the bank as to what kind of official is the creditor.
Even if the checking account is kept at the same bank, the professional status of the police officer is not visible, as the transfer comes from, a regional finance office and the exact department is not indicated there. Similar to a transfer from a company, which only contains a transfer amount, the month, and the pay / salary transfer type.
All indicators are positive
With a loan for police officers all the mathematical indicators, the life experience of the bank adviser and also the customer reliability are in a high range in the plus. Public officials enjoy a high level of protection against dismissal after appointment, which, unlike the private sector, makes employment for life as a rule.
Therefore, a police officer is a very welcome customer in lending and receives an offer with very good, low lending rates. These interest rates are already very close to the interest shown in the price tables as “from” interest.
The responsibility of the police officer is still required
However, when it comes to credit for police officers, there is still one major difference, which, however, can be found in the personal responsibility of the police officer and not in the supervision of the bank: the safety relevance of the professional activity. In particular, police officers in the higher service or those who do service at an airport are subject to special provisions regarding personal reliability.
Therefore, any police officer should avoid private over-indebtedness that would cast doubt on his or her aptitude for the police service. However, this does not explicitly refer to real estate loans, but only to loans for personal consumption purposes.
So who wants to borrow a loan for police officers who can get all types of credit at excellent conditions subject to the normal and usual provisions for a personal loan.