You can quickly get into an emergency plus need a loan quickly plus unbureaucratically. But what if the particular Credit Bureau request is already unfavorable? Then no bank in Germany pays a loan anymore, private loans that pay despite Credit Bureau entry in many cases are very overpriced. Then you can consider whether you shouldn’ t take out a loan in Switzerland.
Get a small loan quickly and unbureaucratically
Anyone can get into a financial emergency and this is faster than some people think. Then it is good to have the option and to be able to take out that loan in Switzerland. Because the banks in Switzerland pay out a tiny loan quickly and unbureaucratically. Since Credit Bureau is a purely German institution, Swiss banks and credit institutions usually do not ask whether the potential borrower has entries here.
Only small loans are possible in Switzerland
However, should you want to take out a loan in Switzerland, you should be aware that this is only a tiny loan up to $ 3, 500. 00, because Swiss credit institutions and banks do not pay out to clients abroad, However, the terms for these small loans are often very long at as much as 40 months, but the monthly repayment rates are then very low and are easy to bear even with a small income.
With a Swiss loan, the interest may well be higher
A minus point, if you need money quickly without a credit rating and want to take out a loan in Switzerland, is that the interest rates are usually higher than at German banks and credit institutions. For a loan from Switzerland, the borrowing rate is from 4. 83%, the annual percentage rate can be between 4. 9% and 16. 9%. Therefore, in such a case, you ought to really think carefully about perhaps the loan is really needed so urgently or whether you’ve kept savings potential with your own monthly expenses.
What are the requirements for a lender?
Anyone avove the age of 18 can take out financing in Switzerland, but there’s also a few restrictions here, since Credit Bureau is not queried. The financial institution should be able to show a regular income, which in addition to monthly earnings can also be based on the pension. Others, such as students, Hartz IV recipients or even housewives without their own income, need still another co-applicant who meets what’s needed for regular income.
You don’t have to use the Swiss loan
Many German banks and credit institutions want to know the point for which a loan should be applied for. This is not the case with banks and credit institutions in Switzerland. Here, financing can be taken up without a specific purpose and used freely by the borrower. These small loans are therefore well suited if you have to renovate the apartment, want to buy a new TELEVISION or simply want to balance your personal checking account so that the high interest on the overdraft facility is eliminated.