Question 1

What influence does my age have on whether a loan is granted?

Accepted Answer

To take out a consumer loan, you must be at least 18 years old. At the end of the contract, you may be no older than 70. In addition, lending institutions take into account, among other things, your age at the end of the intended loan term, your income and your financial situation when assessing an application. The specific requirements may vary depending on the lending institution.

Question 2

Which documents do I need for a loan application?

Accepted Answer

As a rule, you will need a valid passport or identity card. Foreign nationals also require a valid residence permit. In addition, the last three payslips must be submitted for the assessment. Depending on your personal and professional situation, further documents may be required.

Question 3

Can I apply for a loan in Switzerland with a B, C, L or Ci residence permit?

Accepted Answer

Yes, in principle a loan enquiry is also possible with a B, C, L or Ci residence permit. The requirements may vary depending on the lending institution. In many cases, the length of your residence in Switzerland, your professional situation, your income and your creditworthiness are taken into account, among other factors.

Question 4

How high does my income have to be for a loan?

Accepted Answer

There is no generally applicable statutory minimum income for a loan. What is decisive is whether the credit capacity assessment is positive and whether the loan is affordable, taking into account your income, your expenses and your existing obligations. The possible loan amount is therefore assessed individually.

Question 5

What costs are involved in processing my application?

Accepted Answer

The loan enquiry and its processing are free of charge with us. Even if your loan application is declined, you will incur no costs for our brokerage service.

Question 6

How high are the interest costs?

Accepted Answer

The interest costs depend in particular on the size of the loan amount, the term you choose and your personal creditworthiness. As a credit broker, we work with various lending institutions and review the financing options available for your situation.

Question 7

Can I deduct the loan interest from my taxes?

Accepted Answer

In Switzerland, interest on private debt can in principle be deducted from taxable income to the extent permitted by law. As a rule, you will receive the interest statement required for your tax return from your lending institution.

Question 8

Which loan amounts and terms are possible?

Accepted Answer

The possible loan amounts and terms depend on the lending institution concerned, the type of loan and your personal financial situation. Shorter terms as a rule lead to higher monthly instalments and lower total interest costs. Longer terms can reduce the monthly instalment, but as a rule they increase the total interest costs.

Question 9

How long does it take to receive a loan decision?

Accepted Answer

The processing time depends on the lending institution, your personal situation and whether the documents submitted are complete. Complete and correct documents allow for a faster assessment. The definitive loan decision is made once all required information and documents have been reviewed.

Question 10

How long does it take until I receive my money?

Accepted Answer

The time needed to process your loan enquiry depends, among other things, on whether all required documents are complete. Following a positive loan decision and the conclusion of the loan agreement, payout as a rule takes place once the statutory withdrawal period of 14 days has expired.

Question 11

Can I repay my loan early?

Accepted Answer

Yes. In principle, a consumer loan can be repaid early, either in full or in part. In the case of early repayment, interest is owed only for the actual duration of the loan. The exact handling is carried out by the lending institution concerned.

Question 12

Can I include my partner in the loan enquiry?

Accepted Answer

Yes, depending on the lending institution and your personal situation, your partner can be included in the loan enquiry. An additional income can be taken into account in the assessment and may thereby improve your financing options.

Question 13

Can I consolidate several loans into a single loan?

Accepted Answer

Yes, under certain conditions existing loans can be combined or repaid through debt restructuring. As a result, only one monthly loan instalment may remain, for example. Whether debt restructuring is possible and worthwhile depends on your existing obligations, the new terms and your personal financial situation.

Question 14

How does a car loan work and what advantages does it offer?

Accepted Answer

A car loan is a loan that can be used to finance a vehicle. Unlike leasing, you buy the vehicle yourself and are, in principle, its owner. The specific loan conditions and requirements depend on the lending institution concerned and on your financial situation.

FAQ on the subject of loans

Requirements & documents

Costs & interest

Process & payout

Special cases

Still have questions?