Which is the benefit bank clerk gets

Advantage with conditions as a bank employee

Current case from my area:

Large, well-known and nationwide bank that usually peddles low interest rates because the regular customers pay anyway
In the end, the employee got good conditions in line with the market. No more and no less.

Additional:
- More complicated than with other customers, since the next management meeting had to be waited for, which had to be nod off. It is well known that loan approvals are often needed urgently, which can then be annoying.
- No Land register entry By virtue of their profession, bank employees do not have to expect any different conditions from banks other than their own employer than employees from other professions. Decisive for the conditions or general financing setup are the conventional credit-critical points such as affordability, creditworthiness, property valuation, etc. If the parameters are all comfortable, then the best conditions (variable EURIBOR + 1% or fixed 10Y 1.5%, 15Y 1.875%, 20Y approx. 2.10%) is the guideline.

With your own employer as a lender you have to be careful that a "particularly favorable" award of conditions does not lead to an obligation to pay in kind (benefit from the employment relationship). The respective institute can certainly provide information about the amount of the benefit in kind.


LiConsult wrote: With your own employer as a lender you have to be careful that a "particularly favorable" award of conditions does not lead to an obligation to pay in kind (benefit from the employment relationship). The respective institute can certainly provide information about the amount of the benefit in kind.


Completely correct! Then a possible benefit in terms of costs is quickly gone.
As far as I know, the bank does not require a BAG or account management for its employees, but does require registration of lien rights (at least for 2 large institutions, I know it).

Furthermore, employees often do not want the boss to know ...

I have already financed a number of bankers, all the way up to the National Bank. The condition was consistently better .


At that time we confronted our (very keen and interested) house bank with our offer from the competition and at an informal moment the supervisor let it through that the conditions were better than the employee conditions.
We don't know whether that was true - we definitely enjoyed hearing it So it's no problem for us if we finance other banks as employees. However, one never got there from the Kondis.
I have no BAG, no GB registration and certainly a good interest rate.
That is true with the benefit in kind, but we are exactly at the limit of what is permissible that no benefit in kind is offset here. So that's great for us.


rk515 wrote:
That is true with the benefit in kind, but we are exactly at the limit of what is permissible that no benefit in kind is offset here. So that's great for us.


Can you give me specific interest rates here, please?
If, for example, it is about 300k with a term of 25 years and 15 years of that fixed interest rate? How can it be that a bank renounces the entry in the land register just because it is an employee of theirs?!?


MissT wrote: How can it be that a bank renounces the entry in the land register just because it is an employee of theirs?!?


or what happens when you leave the company?


austriansales wrote: or what happens when you leave the company?


You have the PBU, it is just not "used", lies around unused in the safe, the bank can register at any time

the risk is that you sell without saying anything and or take out another loan from another bank


MissT wrote: How can it be that a bank renounces the entry in the land register just because it is an employee of theirs?!?


 
Through an EPU


austriansales wrote: or what happens when you leave the company


then there are no longer any employee bonuses. Is it also in the contract


ChristianIV wrote: the risk is that you sell without saying anything and or take out another loan from another bank


It's a risk, but if I'm already selling, then I'll cover the loan before I take on another one. so pure in logic.


austriansales wrote: Can you please give me specific interest rates here?


sorry, no, I won't do that. I can only say that a fixed rate is not attractive to me.

I haven't met an electrician, insti, hardware store employee, car salesman or anyone else who has told me which "employee condos" he gets in addition to the purchase price at which he gets the materials.
but also doesn't matter. every industry has its advantages, I'll tell you. *G*



rk515 wrote: I haven't met an electrician, insti, hardware store clerk, car salesman or anyone else who has told me which "employee condos" he gets in addition to the purchase price at which he gets the materials.
but also doesn't matter. every industry has its advantages, I'll tell you. *G*


you can try it;)
no, it fits - I would have been interested;) I think that the MA-Kondis should normally be cheaper. My wife's bank has a sheet of conditions that applies to all employees. However, everyone is free to apply for a loan from another bank.

Since there are no processing fees, account management, valuation costs for the property or other fees that banks are happy to charge / have incurred, it was certainly the cheapest solution.

If you leave the bank, you will be switched to normal / worse conditions.


rk515 wrote: That is true with the benefit in kind, but we are exactly at the limit of what is permissible that no benefit in kind is offset here. So that's great for us.


But that can change. The relevant reference interest rate for the calculation of benefits in kind is issued annually by the BMF. The better the conditions, the more likely it is that it will hit you. Up to EUR 7,300, the whole thing is tax-free.


rk515 wrote: risk yes, but if I already sell, then I also cover the credit before I take on another one. so pure in logic.


NO bank would have to register on the subject in the land register, there are only do-gooders on the way and no one tries to fraud  

I owe an additional 500k on the house or sell it, get the money into a tax haven and off to the Caribbean or anywhere else where nobody has access and the rest of your life just do nothing, have the opportunity on your own and a weak moment even if you don't would plan

what I've always wondered what the bankers might be able to answer is:

it would not be possible to enter nothing or almost nothing to save the taxes and instead a debit / sale ban in favor of the bank, in relation to early handover to children this is often done enough, you can "turn" it on a company then you could save the 1.2% completely or I think wrong somewhere, if I can't add another credit or can't sell it, the bank is just as safe without registration


ChristianIV wrote: If it would not be possible to enter nothing or almost nothing to save the taxes and instead a debit / sale ban in favor of the bank, with regard to premature handover to children this is often done enough, you can "turn" it on a company then you could save the 1.2% completely or I think wrong somewhere, if I can't top up another loan or can't sell it, the bank is just as safe without registration


I'm not a lawyer, but I think that if the state or a third party legitimately wants to access the property, a debit / sale ban will not help the bank. That would be an immense risk for the bank.

So it is in the first place (rank) and in the event of a sale the bank will be served first, as far as I know. The deposit was once upon a time. It's been a while since good condis were placed here anyway.

I have already mentioned above that there is no BAG and no account management.
But a difference of, for example, 0.25% with a 15.j fixed interest rate creates a liability for 300K11.250,-- Euro savings. On the other hand, there are perhaps 8,000 in costs (including account management for a period of 30 years). So still a saving of over 3K, only in the fixed interest phase. And if the customer repays prematurely, the account management is reduced by half, for example, and then the savings turn out to be another thousand higher.

In the example, you can once again see how good the abuse of mostly house banks is to lure customers with a small flat-rate BAG to justify a worse surcharge.

In addition, the issue of benefits in kind is eliminated and the risk of poorer conditioning due to the cancellation of employee conditions when changing AG. Then maybe you can reschedule, but then all costs will be incurred;).

So yes, I understand why I count some bankers among my clients .

@Christian: I can't imagine that it's that easy, but I don't know the legal background either.
And yes, there are no black sheep who might park the coal in the Cayman 's .

@RK: Your conditions would be quite interesting to know, Simon, you always want / wanted to know the conditions from us (me) - and the bank . At least most of the banks are now on the start page of my homepage;).


ChristianIV wrote: Ban on encumbrance / sale in favor of the bank


phew aaahm .. no idea whether that works ... but there is the possibility of the land register lustrum .. if my property is registered there, the bank will find out if something is done with the property. So when a seal is entered. But then it is theoretically too late for my bank.


speeeedcat wrote: The deposit document was once upon a time. It's been a while since good condis were placed here anyway.


we still do it


speeeedcat wrote: It would be very interesting to know your conditions, Simon, you always want / wanted to know the conditions from us (me) - and the bank


yes, i wanted to know your terms and conditions that you mediate, but not your own that you get with your own credit from the banks. that is the difference


speeeedcat wrote: At least most of the banks are now on the start page of my homepage;).


aso? never looked inside. ^^

as already mentioned, everyone can take advantage of their industry. * grin *
we have the disadvantages anyway .... we are known to be crooks with 99% of the population and anyway involved in the economic downfall of the world ... so what. you can give me a really cheap loan, right? * G * G * G *



rk515 wrote: we still do it


the conditional deterioration compared to registration would be interesting. Come on, spit it out !


rk515 wrote: yes, i wanted to know your terms and conditions that you broker, but not your own that you get with your own credit from the banks. that is the difference


I already graduated 7 years ago. At that time I was able to get 0.8% surcharge on the 3ME for myself.
I think gdfde got a sensational 0.75% on the 1 (!) ME!

So here too, come on, come back over ! So I do not rule out that your own bank (as an employer) waives the registration of the lien in favor of a registerable lien. But that has to be a bank that cares about its employees, because from a purely economic point of view, it's crazy for the bank. A PBU is not a security in the sense of the Basel regime - means: the bank has to tie up additional valuable equity capital for the specific financing, which in turn increases the refinancing costs. If an interest rate like the one above is then also assigned and all cost elements associated with the financing are eliminated, then the decision-maker actually has to ask his supervisory board how he wants it.


ChristianIV wrote: Would it not be possible to enter nothing or almost nothing at all to save the taxes and instead a ban on debiting / selling in favor of the bank, in terms of premature handover to children this is often done enough, you can "turn" it on a company then you could save the 1.2% completely or I think wrong somewhere, if I can't add another credit or can't sell it, the bank is just as save without registration


Thats is quite easy. A ban on encumbrance and sale is absolute (means against every third party, in rem) only if it is between spouses or between (Gro & szlig Parents and (step-, in-law or grandchildren) children. Only then can it be entered in the land register.


speeeedcat wrote: the conditional deterioration compared to registration would be interesting. Come on, spit it out!


do you mean employees for us, or (which is not the point here) for customers?