In the meantime, there are many types of loans available in the finance sector that are common to almost every consumer. These include, for example, the discretionary or installment loan. In addition, there are also loans that are very special and are not known to many consumers.
This includes, for example, the Swiss loan. At first glance, the term Swiss credit is somewhat misleading, since this form of credit does not necessarily have to come from Switzerland and in the narrower sense has nothing to do with Switzerland. The name comes from the fact that the first Swiss loans were offered by credit intermediaries from Switzerland. Even today, the supply of providers in Switzerland is very large. Applying for this loan in Switzerland is therefore still possible without any problems today.
What are the special features of Swiss credit?
Often the Swiss credit is also called credit without private credit. This makes it clear that this type of loan is a loan in which no credit check of the borrower is carried out. Thus, this loan is also given to borrowers who have one or more negative private credit entries, which of course would directly lead to a rejection of the credit request in a classical bank. But the Swiss credit is not even a private credit information obtained. It is also typical that the request and mediation takes place via a credit intermediary.
Apply for credit in Switzerland: Procedure
To apply for credit, credit seekers do not need to travel to Switzerland. There are now many credit intermediaries on the Internet who work with banks in Switzerland and mediate between borrowers and lenders. However, it should be noted here that the brokerage is not free, so that borrowers have to reckon with additional costs, in the form of a brokerage fee.
The credit broker then looks for a suitable bank that agrees to a loan. The loan agreement is then concluded in the traditional way between the bank and the borrower. The process is similar to Swiss credit then a conventional installment loan. Again, the borrower must regularly pay off his loan installments until the loan is fully repaid.
Swiss Credit: The Benefits
Of course, the Swiss loan for borrowers with negative private credit entry has the great advantage that this is not relevant in the award. With classical banks a loan approval with private credit entry is impossible. Another very important advantage is that the loan taken without private credit query is not reported to the private credit, as is otherwise the case for loans from German banks. This in turn is good, since the creditworthiness of the customer is not additionally burdened by the credit.
Already existing loan commitments, then most banks are already a bit more cautious. Therefore, the Swiss credit is also increasingly used by customers who have no negative private credit entries. It is also advantageous that the loan can be requested simply and easily online and also the further credit can be processed via the Internet and by post. To apply for a loan in Switzerland, you do not have to travel to Switzerland extra.
Apply for credit in Switzerland: the disadvantages
The disadvantages of the Swiss loan are actually only to be found in the costs. First and foremost, interest rates are slightly higher than the interest rates on a traditional loan from a German bank. In addition, borrowers still have to pay a so-called mediation commission, as the Swiss loan is always assigned through credit intermediaries. These credit intermediaries are rarely very free. Borrowers still have to expect a fee of 1 to 3 percent of the loan amount. Some credit seekers also find the low selection in this area disadvantageous. In addition, the terms of the Swiss loan are limited upwards. This can lead to quite high rates depending on the loan amount.
If you want to apply for a loan in Switzerland, you usually opt for the online option. To find suitable providers, it is best to use a search engine. There you simply enter the search term “Swiss Credit” or “Apply for Credit in Switzerland”. The next step is to list the different websites that grant this type of credit. These are not bank websites, but rather the credit intermediaries who broker a Swiss loan. Who wants to apply for a loan in Switzerland, who usually has no direct contact with the respective bank, because everything runs through the credit intermediary.