A Swiss loan helps to better coordinate and manage planned purchases and expenses. As a rule, it is possible to take out a Swiss loan free of charge.
In order to provide you with the best possible information, we have drawn up a Swiss loan comparison for a good overview with our financial editors and experienced experts. If you are interested in specific aspects, you can find our extensive guide under the comparison. Find the best Swiss loan for you in the test now and apply for it online!
What is a Swiss loan?
A Swiss loan, which is sometimes referred to as “loan without credit record” or “international loan”, is a loan in which credit record is not queried. Contrary to what the name might suggest, such loans come from foreign banks and donors – but these do not necessarily have to be located in Switzerland. Rather, the term “Swiss loan” is a synonym for loans from abroad that work even if negative entries are noted in the credit record.
The loans are offered by various banks. As a borrower, you have the choice and can look for the best offer, just like with any other loan. In our comparison above, we have therefore compiled the best variants for a Swiss loan and prepared them for you so that the selection and application for the loan should be fairly easy for you.
Is there a free Swiss loan?
There is generally no free loan – regardless of whether it comes from Switzerland, another country or from one of the traditional banking houses in Germany. Because every loan is subject to interest and fees.
However, what is free is the application for the loan. There should also be no fees for advice. Only when the loan agreement has been signed and the loan amount paid out should you start repaying the first loan installment, which then automatically includes the corresponding costs and fees.
What collateral is required?
No borrowing without collateral. This also applies to a Swiss loan. Even if he is not interested in the credit record data, the money is not simply left to you. You must be able to name collateral, to be found away from credit record.
This primarily includes a permanent job with a decent income, which you can prove. On top of that, your expenses should not exceed the income and should provide enough leeway for borrowing.
A surety is not required in most cases. However, some banks require assignment of salary. Self-employed and freelancers have little chance of getting a Swiss loan.
Swiss loans tested: the 4 most important criteria
1. The loan amount
Many lenders only offer a small loan for a Swiss loan. Maximum loan amounts of up to USD 10,000 are therefore possible. If you want to raise more money, you have to look very carefully for suitable offers or adjust your wishes accordingly.
2. The cost
Even a Swiss loan is not given away and is therefore subject to a wide variety of costs and fees. The most important thing for you is the effective interest rate. It contains all the additional expenses related to the loan that you need to plan.
You should therefore pay particular attention to this value when you borrow. In this way, the banks protect themselves against the increased risk of default, which is associated with such a loan in combination with your requirements.Keep in mind that the effective interest rate for a Swiss loan is higher than for loan offers that you can take up within Germany and with the credit record check.
3. The repayment
A good Swiss loan offers you flexible repayment. So you can have a say in how high the rates are.
However, there are also offers that will show you from the outset which conditions apply and how the repayment will take place. These are also very good because you can see what awaits you before applying for the loan and can therefore also consider whether this offer is suitable for you or not.
4. The borrowing
It should be possible to conveniently take out the Swiss loan via the Internet. A credit broker should not have to be involved. It should always be possible to apply for the loan free of charge and without obligation. If the loan application is rejected, no costs may arise.
Swiss loan offers put to the test – our conclusion
A Swiss loan is a good loan option if you cannot take out a loan in Germany due to a negative credit record. However, it is also not a panacea and a loan that is always granted. You must also be able to provide collateral for this loan option and seek timely and full repayment. Otherwise, this loan will also cause you many difficulties, which of course we do not wish anyone to have.