Swiss Loans – Financial Optimization – Savings Tips
Personal Loan Switzerland: The Simple Way to Apply for Loans
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Apply for a Loan in Switzerland:
The Process Step by Step
Applying for a personal loan in Switzerland is very straightforward. The process can be divided into 5 steps. If you have any questions, please do not hesitate to contact us. We will be happy to help you.
Step 1: Loan application
🟢 Loan application
To take out a personal loan, the first step is to fill out our application form, in which you tell us the approximate amount of the loan. We will get back to you within one day and put you in touch with the right partner for your situation.
The best possible interest rate is achieved by finding precisely the right provider for you, which is what we specialize in.
Of course, everything up to this point is 100% free of charge and non-binding for you.
Step 2: Suitable provider
🟢 Suitable provider
The partner companies now need further information from you. You will be asked to complete a formal application. In it, you answer questions about your financial situation.
The reason for the personal loan is a private matter.
Step 3: Credit check and loan offer
🟢 Credit check and loan offer
The lender will now check your application. Your creditworthiness and financial situation will be checked as standard, as this is a legal requirement in Switzerland.
You will then be given an offer, which will also tell you the exact interest rate that could be obtained for you. The better your credit rating, the better the interest rate.
Step 4: Wait for the legal deadline
🟢 Wait for the legal deadline
The next step is to sign the offer and wait until the statutory waiting period of 14 days has passed. This is a requirement to protect borrowers and allow them to change their minds.
Only for relatively small loan amounts is there an alternative in Switzerland if you do not want to wait for the deadline. As there is no waiting period for credit cards, you can apply for a Swiss credit card and use it immediately. Some credit cards offer an extremely fast application process, but the credit limit is, of course, minimal compared to a “real” loan.
Step 5: Loan payout
🟢 Disbursement of the personal loan
Once the loan agreement has been signed and the deadline has passed, the amount is transferred directly to an account of your choice. From this point on, the repayment period begins in accordance with the conditions agreed in the contract.
Definition: Private Loan
💡 Private loan Switzerland
A private loan in Switzerland, also known as a consumer loan or personal loan, is a type of lending granted by banks or credit institutions to private individuals. This loan is typically used for personal, non-business purposes.
Private loans can be used for a variety of projects, such as financing a car, renovating a home, covering unexpected expenses, or for major purchases. The borrower has the freedom to use the loan as they see fit.
Amount and term: The amount and time span of a personal loan varies depending on the provider and the borrower’s needs. The loan amounts are usually between a few thousand and several tens of thousands of Swiss francs (CHF), with terms ranging from a few months to several years.
Interest rate and fees: The interest rate and the monthly payments for a personal loan in Switzerland are determined on the basis of the applicant’s creditworthiness. The bank or credit institution determines the exact conditions.
For this reason, it is advisable not to choose a company on your own but to contact a specialist first. At Kredite Schweiz, we are happy to help you with this step in order to get better conditions for you in the end.
Legal framework: In Switzerland, personal loans are subject to the Consumer Credit Act, which protects people from falling into debt too heavily.
Upper limits for interest rates are set by this law, and it stipulates that the applicant’s creditworthiness must be checked before a loan is granted.
Definition: Online Loan
💡 Online loan Switzerland
An online loan is a regular loan that is applied for and processed via the Internet. In contrast to traditional loans, the entire online loan application is completely digital.
Everything remains the same as with a normal loan, except in this case, one has the ability to scan rather than return the documents by post.
Features and benefits:
- Digital application: The application, transmission of documents, and often the signing of the contract are all done online.
- Speed: Online personal loans are characterized by fast processing times. Applicants often receive feedback within a few hours or days.
- Convenience: You can apply for a loan online easily from the comfort of your home without visiting a bank branch.
Online loans are subject to exactly the same legal provisions as traditional loans, including the Consumer Credit Law (KKG).
The applicant’s creditworthiness is also checked in all cases for online loans. However, this check can be carried out more quickly than with traditional loans, as many processes are automated.
Estimated monthly payment at 4.4% interest: CHF 0.00
Estimated monthly payment at 10.95% interest: CHF 0.00