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Civil servants’ payday loans are cheaper than publicly available loans, as civil servants and civil servants are considered particularly reliable. Despite their fundamental reliability, however, officials may have forfeited a negative entry in the remark and wish a civil service loan without remark. Such a loan is possible in principle but subject to additional conditions.

Civil servant payday loans from Switzerland

Civil servant payday loans from Switzerland 

German credit institutions always carry out a remark inquiry. Even if, in exceptional cases, they refuse a routine request for existing customers, they report the borrowing to the credit protection. Banks from Switzerland may only grant a civil servant’s loan without a remark request and without a remark declaration, since they are not contractual partners of the German credit protection. However, they restrict the circle of recipients of a reduced official loan to actual officials and civil servants, while German banks also offer long-term employees of private companies official credit.

Of course, the same applies to Swiss banks equality of church officials with civil servants. An additional restriction on most Liechtenstein and Swiss banks is that they grant loans only to German citizens, while a civil service is also possible for nationals of other EU states. As a reason, credit institutions indicate that, for security reasons, they only grant debt-free loans to applicants whose country of residence is the same as the country of nationality, as foreigners may return to their home country without providing their new address.

The processing of Swiss non-scholar civil servant loans does not differ from the procedure for German loans, especially as the banks operating in Germany maintain a German bank account and make the payments in euros. The repayments are of course also in euros.

The price comparison is important

An official loan without remark is cheaper than a non-remark credit for non-civil servants. Nevertheless, the interest rates of the Swiss and Liechtenstein banks for their remark loans are often higher than that of a bank operating in Germany for a public sector loan with remark to pay interest. In view of the large number of Swiss banks operating in Germany, a credit settlement is essential before applying for a public-sector loan.

Moreover, if officials forfeit only a minor remark negative entry, they are not necessarily reliant on an official loan without remark, since lending is possible in many cases despite a remark entry. Anyone who decides on a civil service loan from Switzerland or Liechtenstein must be aware that the borrowing is registered with the Swiss Central Agency for Credit Information (ZEK). The ZEK can be compared with the remark in Germany, but it also stores information on the occupations of borrowers.

David Coleman

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