Credit for refugees in Switzerland - new options with a B permit after 2 years

Many people who have come to Switzerland as refugees or people seeking protection sooner or later face the same challenge: they have to finance the furnishings for their home, need a car to get to work or unexpected bills put a strain on their budget. At the same time, access to a loan in Switzerland was practically impossible for refugees with a B permit for a long time.

The situation has now changed at credXperts. Thanks to new partner solutions and adapted guidelines from individual banks, people with at least 2 years of a B permit can now also apply for a loan under certain conditions.

We explain in detail in this article:

• why loans were hardly possible in the past,
• which requirements apply today,
• what banks pay attention to,
• how high the chances realistically are,
• and how an enquiry at credxperts.ch works.

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Why refugees hardly ever received a loan in the past

A few years ago, Swiss banks almost automatically rejected loan applications from refugees or people with a B permit. The main reason was the increased risk from the banks' point of view.

The institutes feared, among other things:

• insecure residence status,
• lack of long-term employment relationships,
• possible return to the home country,
• lack of Swiss credit history,
• irregular income.

People with a short period of residence in Switzerland in particular had virtually no chance of obtaining financing.

Even with a good income, many applications were rejected outright because the banks' internal guidelines did not allow loans to be granted to refugees.

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New solutions at certain banks

However, the situation has changed in recent years. Some banks and financing partners have adapted their guidelines.

Today, borrowing is partially possible if certain criteria are met.

These include in particular

• at least 2 years residence with a B permit,
• stable income,
• permanent job,
• no negative ZEK entries,
• orderly financial situation.

At credXperts, we individually check which bank is currently suitable for the respective situation. This allows us to offer significantly better opportunities than a direct enquiry with just one bank.

Further information on general requirements can also be found here:

• Credit requirements Switzerland: https://www.credxperts.ch/kredit-voraussetzungen/
• Credit with B authorisation: https://www.credxperts.ch/kredit-mit-b-bewilligung/
• Credit comparison Switzerland: https://www.credxperts.ch/kreditvergleich/

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What requirements must be met?

Not every person with a B permit automatically receives a loan. Banks continue to check very carefully whether the financing is viable.

1. at least 2 years B permit

The most important requirement at present is usually a residence period of at least 24 months with a valid B permit.

In the past, even 5 years were required in some cases or applications were generally excluded.

Today, for the first time, there are concrete solutions for people with long-term stability in Switzerland.

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2. fixed income

Banks want to see that a regular income is available.

Ideal are:

• open-ended employment contracts,
• Employment outside the probationary period,
• regular salary payments,
• Income from Swiss employers.

The income must be sufficient to leave enough financial leeway after all living expenses.

More about the Topic Budget accounting read!

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3. no ZEK problems

In Switzerland, every credit application is processed via the ZEK tested.

Negative entries can massively reduce your chances. Do you want to find out what the ZEK says? apply for self-disclosure here.

Particularly problematic are:

• open debt collections,
• Certificates of loss,
• many previous rejections,
• ongoing debt collection proceedings.

However, minor entries or older problems do not necessarily lead to automatic rejection.

Read more:

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4. stability in everyday life

Banks today pay more attention to the overall life situation.

Positive factors are, for example

• long-term residence,
• stable work,
• regulated finances,
• no frequent changes of employer,
• comprehensible expenditure structure.

In the case of refugees in particular, banks want to recognise that long-term integration in Switzerland has taken place.

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What loan amounts are possible?

The possible loan amounts depend heavily on income and situation.

Typical areas are often between:

Income	Possible loan amount
CHF 3'500 net	approx. CHF 5'000 - 15'000
CHF 4'500 net	approx. CHF 10'000 - 25'000
CHF 6'000 net	Higher amounts possible in some cases

However, the actual authorisation always depends on several factors.

These include:

• ongoing obligations,
• Rent,
• Children,
• existing loans,
• Leasing,
• Maintenance payments,
• Creditworthiness.

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What do many customers use the loan for?

The most common reasons are

Finance a car

Many refugees need a vehicle for travelling to work or for the family.

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Summarise existing debts

A loan can help, Convert several smaller obligations into a single instalment.

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Furnishing or relocation

After years in Switzerland, many families want to improve their housing situation or move into a larger flat.

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Unexpected expenses

These include:

• Dental costs,
• Repairs,
• Deposits,
• Invoices,
• Training costs.

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Why a direct enquiry to banks often remains difficult

Many people first apply directly to an individual bank.

The problem:

Every bank has different internal guidelines. A rejection therefore does not automatically mean that there is no chance everywhere.

This is precisely the advantage of credXperts.

We compare various options and check which bank is currently best suited to your situation.

This reduces unnecessary rejections.

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Important: No unrealistic promises

You often find adverts on the Internet like:

• "Credit guaranteed"
• "Credit despite everything"
• "100 % commitment"

You should be careful about that.

In Switzerland, clear legal regulations apply under the Consumer Credit Act (KKG). Every bank must check whether a loan is acceptable.

Even refugees with a B permit are always subject to a full credit check.

Reputable providers therefore do not offer any guarantees.

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How does an enquiry with credxperts.ch work?

The process is simple and non-binding.

Step 1: Make an online enquiry

The enquiry only takes a few minutes.

Start here: Credit application

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Step 2: Checking the documents

Depending on the situation, you may need

• B permit,
• Wage statements,
• Labour contract,
• Bank statements,
• possibly a debt collection extract.

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Step 3: Bank comparison

We check which partner banks are currently eligible.

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Step 4: Feedback

You will receive a realistic assessment of your options.

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Real opportunities exist today for the first time

Just a few years ago, it was practically impossible for refugees with a B permit to obtain a loan in Switzerland.

However, thanks to new solutions and adapted guidelines, there are now significantly better options - especially for people with

• at least 2 years of residence,
• stable income,
• regulated work,
• clean financial situation.

However, a serious examination and a realistic assessment of the possibilities remain important.

At credXperts, we help clients find suitable solutions and professionally compare different banks.

You can also find further helpful information in our articles:

• Loan with B authorisation
• Credit requirements Switzerland
• Redeem loan
• Car loan Switzerland
• Credit comparison Switzerland