Credit for foreigners
Can foreigners also take out a loan in Switzerland?
Taking out loans in Switzerland has always been a popular and safe way to overcome short-term financial bottlenecks. Particularly in the period 2012-2013, a massive increase in granted by Swiss banks loans was recorded, which were applied to a large part of immigrants. However, many banks now seem to set the hurdles a little higher again before granting loans to foreigners. Learn the key points to maximize your chances of success in borrowing.
Loan rejection – a delicate matter even for the Swiss
A credit rejection has the decisive disadvantage that a rejection is communicated to the ZEK, the Swiss counterpart of the SCHUFA, which is active in Germany and often feared. Just as German banks get an impression of the creditworthiness and reliability of an interested party via SCHUFA, Swiss banks and lenders contact ZEK. The Swiss face the big problem that loan rejections are also registered with the ZEK, which makes it all the more difficult to be successful with the next loan request.
Swiss loans for foreigners – you should know that
In general, despite the higher hurdles, it is still possible to get a loan in Switzerland as a foreigner. To this end, it must be said, the required conditions that foreigners of Swiss citizens in terms hardly differ from each other. An important basic requirement is a regular income and of course a solvency check should be positive. In addition, foreigners are required to have a valid residence permit (B, C, G or L), otherwise it is not possible even as a foreigner to obtain a loan from a Swiss bank.
Even as a foreigner can apply for the desired loan quickly and easily via the Internet Simply the appropriate form with the preliminary filling, which is sent over a secure line to the provider. The banks use the information provided to carry out a solvency check and then decide whether or not the requested loan will be granted. If you are concerned about the accruing interest, you can breathe a sigh of relief: If you have the same credit rating, the interest rates for foreigners are the same as those for Swiss citizens. However, the termtime plays a crucial role, because the longer of the term time, the greater the risk of financial default for the bank, which naturally increases the interest rates.
Compare offers and get comprehensive advice from experts
There are more than enough banks and credit providers in Switzerland, but they differ greatly in terms of conditions. Since many interested parties are employed and the time for a comprehensive comparison of the individual offers is too short, it is advisable to commission an expert to compare the many offers and offers that appear attractive to the untrained eye. This not only saves you time, but also a lot of stress and work, while experts usually achieve significantly better results than untrained interested parties who quickly read up on the subject.
Make sure that you only work with credit experts who are experienced in this area and who know exactly what criteria the individual banks have and who can help you to maximize your chances of success. If you are registered and also have creditworthiness, you usually have no problems getting a loan from a Swiss bank, even as a foreigner.