You can calculate your credit limit with our budget calculator for loans

There are several criteria that must be met before you can apply for a loan. In addition to a regular income and age, residence and residency criteria, your monthly credit budget is also relevant. This corresponds to the monthly loan instalment that you can afford after you have deducted all relevant expenses. The credit budget therefore does not correspond to the "perceived budget" that you spend on luxury items, holidays or leisure time from time to time, for example.

Before a Swiss bank approves your loan application, it calculates a credit budget that compares all relevant income and expenditure. This is because the Consumer Credit Act in Switzerland (CCA) stipulates that no one may get into debt as a result of a loan. Banks are therefore very careful when calculating a credit budget.

The calculation criteria for a credit budget include these factors, among others:

As an independent Swiss credit broker, we at credXperts have just one goal: to find you a loan that fits your budget and offers you unrivalled attractive loan interest rates. That's why we rely on comprehensive credit counselling that compares loans throughout Switzerland and provides you with expert support on the most important issues.

We know from experience what questions, concerns or uncertainties our customers have when they want to take out a loan. So that you can inform yourself sufficiently, we have compiled all the relevant information on the loan application below.

Credit comparison Switzerland

So that you can take out the most favourable loan possible in Switzerland, we compare all loan offers from Swiss banks for personal loans up to a loan amount of CHF 250,000 at an interest rate from as little as 4.4 % and up to a loan term of 120 months.

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Fewer loan application rejections (credit rating adjustment)

Once we have received your online loan application, an immediate check is carried out. At the same time, we try to optimise your credit rating
(= cleaning up ZEK entries). This favours a quick and uncomplicated loan approval.

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Frequently asked questions and answers about applying for a loan in Switzerland

Whether it's loan redemption, ZEK/CRIF or tax deduction of loan interest - we collect questions every day that might interest you in relation to a loan and answer them in our loan FAQ.

To the FAQ

Calculate your credit budget: What you need to know

According to the Consumer Credit Act (KKG), banks are not allowed to approve loans that lead to over-indebtedness. This is why banks calculate your credit budget in such a way that you can cover your minimum living requirements if you take out a loan. In order to calculate such a credit limit, the banks compare your monthly expenditure with your income.

The following points apply:

• Civil status: The banks deduct a lump sum from the possible credit line for basic needs. For single persons this is CHF 1200, for married persons CHF 1700.
• Ongoing obligations: In addition to the basic requirements, banks also factor in ongoing obligations. This is because these can also reduce the credit limit. Current obligations include, for example, a current lease, a current loan or credit card bills where your credit card limit is over CHF 3000.
• Health insurance premiums: In Switzerland, health insurance premiums are a major budget item in the monthly household budget. This is why health insurance premiums are relevant for calculating your credit budget: If more people live in the same household, the higher the total health insurance costs, which in turn results in a lower credit budget.
• Taxes: The tax burden also has an influence on the calculation of your credit budget. The bank calculates the tax amount according to your marital status and place of residence (canton/commune).
• Rent: Some banks include a minimum rent of CHF 1000 in the loan application for security reasons in case a person applying for a loan should move during the term of the loan. If someone is still living with their parents when they apply for a loan, the banks include a minimum rent or reference rent in the credit limit. Here, a comparison of different loan providers can be decisive for successful lending. Thanks to our credit counselling, you increase the chance of your loan being approved - even with a loan for the rental deposit.
  Apply for your loan today or contact us directly: +41 44 244 34 00 / info@credxperts.ch.
• ChildrenIf there are children in the same household, the banks determine the basic needs of a child, which are deducted from the possible credit limit.
• Commuting allowanceOther fixed monthly costs include travelling to and from work, which is why a commuting allowance is included in the calculation of a possible credit budget.
• AlimonyIf you have to pay alimony, you must also indicate this when calculating the credit budget, as this reduces the possible credit limit.

Banks are much more cautious when granting loans

Anyone applying for a loan in Switzerland is checked by the banks for their creditworthiness. This is because banks are obliged not to grant loans if they lead to over-indebtedness. This is why the banks are much more cautious when granting loans and set the credit limit rather low. Of course, they are not doing this altruistically: by calculating the credit budget carefully, they minimise their losses due to loan defaults.

Creditworthiness also plays an important role in the granting of loans

In addition to carefully calculating your credit limit, banks also look at your creditworthiness. Such creditworthiness information is collected by private companies and credit bureaus and stored in credit agencies. Your creditworthiness - also known as liquidity, solvency or ability to pay - depends on your payment behaviour, i.e. whether you pay your bills on time or how you have made repayments on previous loans or leases. All this information is then used to determine your creditworthiness. If your credit rating is good, you have a good chance that your loan application will be approved quickly and easily. If you have negative entries in credit agencies such as ZEK (= Central Office for Credit Information), CRIF or Intrum Justitia, your chances of being approved for a loan are reduced.

To avoid a rejection of your credit application, you can also clean up your credit information, as it may contain outdated entries for missed payments that you have long since settled. If a loan application has been rejected, this could be the reason.

Does the loan repayment have to be made within 36 months?

You have probably heard or read that you must be able to repay a personal loan within 36 months. This calculation is based on the Consumer Credit Act (KKG) and is only used to calculate your credit budget and your creditworthiness.

So if you want to take out a personal loan you can choose the term of your loan as you wish. It is worth comparing loans from different banks.

The relevance of married couples and children when granting loans

When you apply for a loan, the banks also take into account the expenses of married couples when calculating your credit limit, even if you are not jointly and severally liable for the loan. This is because you live in the same household and therefore run the same household. This is why the bank adds up your joint income and costs when evaluating your credit limit. In addition, this is also a requirement of the Consumer Credit Act (KKG). This includes the joint expenses for rent, health insurance and taxes.

If you also have children, the bank will make further deductions and calculate the basic requirements per child, which will be deducted from the credit budget. In addition to food, this also includes expenses for clothes, club or sports costs, subscription costs, etc. Because children and young people incur different costs at different ages, banks calculate a flat rate according to age in order to calculate your credit budget.

Would you like to calculate your credit budget? Then visit our credit budget calculator. Or would you like personal credit advice? Then don't hesitate to contact us: +41 44 244 34 00 / info@credxperts.ch.