For many it may just be a phenomenon – for a few it becomes a reality: the armed forces loan. It is only approved in very few exceptional cases and, above all, is intended to enable temporary soldiers to finance important utensils.
The low-interest loan from the armed forces
If a soldier has committed to the armed forces for a certain period of time, he can take out a loan from his employer – the armed forces – under certain conditions. This loan is a very cheap loan, which is limited to a maximum of 2,500 USD and is used, among other things, for the establishment of your own household or for a marriage. However, anyone who wants to buy everyday items such as a car or plans to finance their next vacation will not receive a loan from the armed forces. Such things are not funded.
The banks also help out
Since a loan from the armed forces is a low-interest loan, you should always ask the armed forces first whether a loan is approved. If this is not the case, time soldiers can always hope for the support of the banks and savings banks. They are welcome customers there because they are employed in the public service and therefore have a solid income and a secure job.
The credit institutions have very special loans for employees in the public sector, so that every time soldier can count on a cheap offer. Unlike a armed forces loan, banks’ offers are not tied to a specific purpose.
The borrower can freely dispose of it and does not have to provide proof of its use. In addition, the loan is not limited to $ 2,500, so that larger sums can also be raised. However, it should always be borne in mind that the loan can only be granted as long as the soldier is employed by the armed forces. Depending on the amount of the loan, it must be taken up in good time.
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