Credit Checklist
What are the requirements for obtaining a loan in Switzerland?
Requirements for loans
In Switzerland, a loan under the Consumer Credit Act is called a personal loan. To apply for a personal loan in Switzerland, the following requirements must be met:
A net income of at least CHF 3,000.
An income is a prerequisite for loan repayment. Furthermore, it is legally required for assessing creditworthiness. Different types of income and employment relationships are handled differently. In addition to income from employment, various other expenses and income are considered when assessing creditworthiness and thus calculating the credit limit.
No outstanding debt collection proceedings*, certificates of loss or bankruptcies.
Creditworthiness always plays a role. The credit check includes an examination of the credit score, any outstanding debts, and the payment history. For consumer loans – which fall under the category of the average loan in Switzerland – a creditworthiness assessment is also legally required.
*What are outstanding debt collection proceedings?
This means you have officially registered unpaid debts. A clean credit report is a prerequisite for your loan application. This means that the extract from the debt enforcement register must not show any outstanding debt collection proceedings or certificates of loss against you. Only if this is the case can you submit the loan application.
Here is an example of what a clean debt enforcement report looks like:
Valid Swiss passport or residence permit C, B, L, G or diplomatic.
For Swiss citizens, citizens of the Principality of Liechtenstein, and those with C permits, there are generally no restrictions. For all other residence permits (B permit, G permit, L permit), significant restrictions may apply. These vary depending on the issuing authority.
Foreigners with a B residence permit who have lived in Switzerland for at least 12 months.
If a loan is approved, it will only be after a defined period of residence. Additional requirements regarding the borrower's profile are also to be expected.
Age between 18 and 68 years.
The minimum age is a legal requirement; loans may not be granted to minors. This is a temporary exclusion until the borrower reaches the age of majority. Furthermore, age also plays a role in risk assessment, both for young borrowers and for those over 65 or who have reached retirement age.
The application review and response will take place
within 24 hours
You provide all necessary documents (copy of ID, payslips, etc.). If your application is successful, we will send you an offer and contract template by mail or email. Once you have returned the signed contract to us, the bank will transfer the requested loan directly to your account, taking into account the legally required waiting period of 14 days.