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There is no generalised answer to this question. This is because each bank assesses each customer individually according to their needs, their income and expenditure and their creditworthiness (= ability to pay). If your credit rating is high and you also fulfil the following requirements for a personal loan, you can obtain a personal loan from any bank in Switzerland:

• Minimum age 18 years, maximum age 70 years
• Resident in Switzerland, the Principality of Liechtenstein or cross-border commuter
• Swiss citizenship or residence permit C, residence permit B, residence permit G, residence permit L
• Regulated income

You need a good credit rating for your loan application to be approved. To obtain one, it helps to carry out a credit check before you apply for your personal loan. This will increase your chances of getting a loan.

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In Switzerland, you can obtain a personal loan of up to CHF 250,000. The Consumer Credit Act (KKG) stipulates that a waiting period of 14 days applies to loans of between CHF 500 and CHF 80,000. Within this period, you can withdraw from a loan without any consequences.

There is no such waiting period for personal loans over CHF 80,000. This means that you can apply for and obtain personal loans over CHF 80,000 immediately, provided you fulfil the requirements. However, the amount of the loan depends on your credit limit: A bank will only grant personal loans if you can cover your minimum living requirements and are not in debt.

To determine such a credit line, banks take into account all possible expenses you have each month and compare them with your income:

• Marital status: For basic needs, the bank calculates CHF 1200 for single persons and CHF 1700 for married persons, and deducts this amount from the possible credit budget.
• Current obligations: The bank also takes current liabilities (leasing or credit) into account when calculating your credit budget. Or if you have to pay credit card bills where your credit card limit is over CHF 3000.
• Health insurance premiums: The more people living in the same household, the higher the total health insurance premiums. The amount of the premiums also influences the possible credit budget.
• Taxes: The bank calculates the tax burden according to marital status, canton and place of residence.
• Rent: Some banks set a minimum rent of CHF 1000, which also applies to prospective borrowers who are still living with their parents.
• Children: If children live in the same household, banks take into account the basic needs of the children, which in turn has an impact on your credit budget.
• Commuting allowance: The journey from home to work and back may be a financial burden (public transport season ticket, vehicle kilometres). For this reason, a commuting allowance is included in the calculation of a possible credit budget.
• Alimony: If you have to pay alimony, this will also have an impact on your credit budget.

Before you apply for a personal loan online or at the bank, you can calculate your credit limit free of charge with our budget calculator.

To obtain a personal loan, you must have a regular income, be at least 18 years old and at most 70 years old. Your creditworthiness (= ability to pay) must also be guaranteed. This means that your monthly expenditure must not exceed your income, so that you are in debt.

The following points are further prerequisites for the granting of a personal loan:

• Resident in Switzerland, the Principality of Liechtenstein or cross-border commuter
• Swiss citizenship or residence permit C, residence permit B, residence permit G, residence permit L

Whether a bank will grant you a personal loan depends on these requirements as well as your personal credit limit. The bank calculates this from your monthly income and expenses. Expenses include these items, which the bank deducts from the credit budget:

• Basic requirement for single persons CHF 1200, for married persons CHF 1700
• Current liabilities (leasing or loan) and credit card bills where your credit card limit is over CHF 3000
• Health insurance premiums of all persons in the same household
• Tax burden according to marital status, canton and place of residence
• Rent (minimum rent of CHF 1000, also for loan applicants who still live with their parents)
• Basic needs of children in the same household
• Commuting allowance (public transport season ticket, vehicle kilometres)
• Alimony

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"Loans without a CRC", "loans despite debt collection" or "instant loans" are often bait offers from dubious loan providers from abroad. Caution is therefore advised if you come across such a loan offer: This is because the Consumer Credit Act (CCA) expressly stipulates that loans in Switzerland must not lead to over-indebtedness.

All Swiss credit providers are legally obliged to report current loans to the official Information Centre for Consumer Credit (IKO). In addition, reputable credit providers are members of the Central Office for Credit Information (ZEK), where all member loans are recorded. If you apply for a personal loan from a Swiss credit provider, they will check your creditworthiness with the ZEK before granting you the personal loan. This means that no loans are granted in Switzerland without a ZEK enquiry or credit check.

Current or completed debt enforcement proceedings also have an influence on your creditworthiness. As a rule, debt collection is considered a reason for refusing a personal loan. However, the banks check your financial situation very carefully for every loan application before they reject or approve your loan application. This is why offers such as "credit despite debt collection" are dangerous, because they take advantage of people in financially difficult circumstances and even put them in an even worse situation.

The term "instant loan" should also make you prick up your ears: In Switzerland, there is a waiting period of 14 days for personal loans of up to CHF 80,000. This means that you will only receive your loan after this period. The only exception under the Consumer Credit Act (KKG) is personal loans over CHF 80,000, for which there is no statutory waiting period.

Before you accept such a loan offer, we recommend that you seek our advice for your own safety: +41 44 244 34 00.

Before you apply for a personal loan, you should carry out an independent loan comparison. This is because the differences in loan interest rates can be considerable. You can find out which personal loan is more favourable for you or which loan provider suits you best in our loan calculator: it gives you an overview of the various interest conditions and lenders. And our credit advisors from credXperts will also tell you whether you fulfil the credit requirements of the respective bank.

Are you interested in a loan offer? Then place your loan enquiry directly online with us. We will take care of the rest - from the loan application to negotiating terms and conditions to the loan agreement. We accompany you through the entire process until your personal loan is paid out.

Peer-to-peer loans - also known as P2P loans - are loans without a bank. In crowd lending, private individuals lend each other money via an online platform. Private individuals negotiate loan amounts, loan terms and interest rates directly with each other on these platforms.

The advantage of such peer-to-peer loans is that the lenders invest their capital specifically in projects such as business start-ups, social or environmental projects. In doing so, they achieve better returns than with fixed-term or overnight money products. Borrowers, in turn, benefit from more favourable interest conditions than with a personal loan from a bank. Conversely, however, they also risk higher interest rates if their own creditworthiness represents an increased risk for the lender.

To minimise the default risk for private lenders, crowdlending platforms check the creditworthiness of all borrowers. However, this does not mean that loan defaults cannot occur. Some online platforms also offer buy-back guarantees: They buy defaulted loans from lenders at a discount.

All in all, crowdlending platforms are similar to traditional credit brokers: they take care of brokering the loan, granting the loan and paying out the loan. This service costs fees, which both borrowers and lenders have to pay. A loan comparison is therefore also highly recommended for peer-to-peer lending platforms in order to find the best loan in Switzerland.

Experience also shows that peer-to-peer loans incur service fees even if you repay your loan early. Although the interest costs are not due, there are considerable fees, which can amount to up to 1.5 %. For this reason, we as credit advisors recommend using credit banks for personal loans.

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If you find yourself in a situation where you would like to take out a personal loan in Switzerland despite existing debts, credXperts offers a customised solution. Our expertise in the field of loan brokerage enables us to find suitable financing options even under complex conditions.

Bank Now is one of the banks that may be willing to lend in certain cases, even if other financial obligations already exist. However, it is important to emphasise that every loan is subject to thorough scrutiny. Situations where lending is prohibited are always handled in accordance with the law.

A personal loan comparison can help you find the best provider for your specific needs. Various options such as P2P lending, loans from private individuals and traditional bank offers can be considered. The advantage of a non-bank loan often lies in more flexible terms and the ability to interact directly with investors.

When applying for a loan, it is important to provide all the necessary information and evidence. This includes details of the desired loan amount, the monthly instalment and the desired loan protection. In the case of a car loan, for example, the purpose of the loan is clearly defined, which often simplifies the comparison and loan approval process.

For those considering a personal loan without a bank, P2P lending could be an interesting option. Here, private individuals grant loans to other private individuals or companies. This type of financing is becoming increasingly popular in Switzerland, as it often offers more unconventional solutions and is an alternative to traditional banking products. However, we advise caution here. It is best to discuss the matter with our experts first.

Please note that a cancellation period of 14 days is required by law for loan agreements in Switzerland. This gives you the opportunity to reconsider your decision and ensure that the loan meets your needs.

On our website you will find further articles and information on frequently asked questions about credit. Our aim is to offer you a comprehensive personal loan solution that meets your individual needs and financial situation.

We are always available for enquiries via our e-mail address info@credxperts.ch. Contact us to find out more about your options or to request a comparison directly. With credXperts, you will find a way to suitable financing even in difficult situations, such as a loan request with debt enforcement or despite debt enforcement.

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