Loans in Switzerland

Loans have earned a reputation for being a great solution to overcome the financial need. Especially being new to the country, you might have plans of setting up your house, buying essentials to live peacefully, and there are chances you would feel the need for a car. While certain expenses are going to be inevitable, a little preparation might help in better financial planning.

Applying for a loan seems a wise choice as that way; you won’t have to wait longer to fulfill the immediate necessity. There are plenty of banks and financial institutes in Switzerland that offers attractive loan options. While the interest rate may vary slightly from bank to bank, most of the institutes would have similar terms & conditions. We have taken time to form a curated list of such companies who provide leverage of any kind of loan required. We have selected the best loan providers in Switzerland for you with the use of the following criteria:

✓ English speaking customer service
✓ Clear Savings account
✓ Flexible contracts
✓ Clear contracts (no hidden costs)
✓ Fair credit rate

Be aware that Borrowing money costs money

Company	Pro’s /Con’s	Rating
#1 -The best loan provider   ★★★★★ Rating An exceptional loan provider, the brilliant consultation service offered in English, along with a variety of loans, is what makes the company stand out.	An exceptional loan provider, the brilliant consultation service offered in English, along with a variety of loans, is what makes the company stand out. ✓ Quick response on your loan application within 24 hours ✓ You can choose from their Personal, Construction, Small, or Car Swiss loans. ✓ The convenient process of form filling online, get a response at earliest and free advice/consultation on your loan query. ✓ Budget Credit offers cash payment service as well on request. ✓ Slightly higher interest rate as compared to Lend, i.e., 4.4% -9.95 %, which may become heavy on your pocket ✘  For a credit over CHF 10,000, the total interest would cost you between CHF 235.16 and CHF 523.40 for a term of 12 months.	8.7	Visit Budget-check.ch
#2   ★★★★★ Rating A great choice for new residents in Switzerland as the company offers a very low rate of interest, which is 3.5%.	A great choice for new residents in Switzerland as the company offers a very low rate of interest, which is 3.5%. ✓ A very low rate of interest on your personal loan, i.e., 3.5% ✓ Hassle-free experience of loan enrollment, you would be required to fill an online application. ✓ Lend keeps the terms transparent without any hidden fees. ✓ Lend acts as an intermediary between the lender and the borrower; hence, better options available at a low-interest rate. ✓ The company also offers an option to invest in Swiss loans for higher returns. ✘  A loan is only limited to Personal and business. Not suitable if you were planning on a car loan etc.	9.1	Visit Lend.ch
#3   ★★★★★ Rating The company makes a decent choice for ex-pats who are not well versed with the financial sector in Switzerland as the company would first compare and then get you the best deal.	The company makes a decent choice for ex-pats who are not well versed with the financial sector in Switzerland as the company would first compare and then get you the best deal. ✓ Your one-stop solution for all types of loans related needs. ✓ Compares amongst all Swiss providers and get you the best deal. ✓ The company offers free of cost consultation on your loan related query. ✓ When opting for a car loan, you could also choose to make the down payment for a low-interest rate. ✘  Slightly higher interest rate as compared to Lend, i.e., starting from 4.9% ✘  For a credit over CHF 10,000, a maximum of 9.95% interest rate is applicable.	8.4	Visit Handyes-finanzen.ch
#4   ★★★★★ Rating One of the preferred banks for those who are planning to expand their business as the bank provides suitable lending options for their corporate customers.	One of the preferred banks for those who are planning to expand their business as the bank provides suitable lending options for their corporate customers. ✓ The bank’s Online Credit platform allows you to apply and manage your credit online. ✓ The online platform also offers ease of review of your credit exposure with third parties. ✓ Unique package for business, Business Easy that provides credit up to CHF 100,000 ✓ Free basic business package for clients in the first year of association ✓ It is not suitable for expats who have just moved to Switzerland as the bank does not offer personal loans. ✘  Besides corporate customers, no other customers could apply for a loan with the bank. ✘  In most scenarios, at the time of the query, a virtual assistant would be at your service instead of a human.	8.1	Visit Credit-suisse.ch

Analyze before the final deal

Before you make up your mind, we recommend analyzing to understand the specific amount you would like to loan from these institutes. Some companies only offer Personal loans while some offer a variety of loans such as Personal, Small, or Big and Car loans. Hence, prior knowledge would help in easily identifying the lender that fulfills your need. You would always be required to arrange for the required documents before applying for the loan.

For instance, you would have to provide a valid proof of residence as well as you would have to prove your employment. You need to be employed for a period of at least 6-12 months to become eligible for a loan in Switzerland. Most lenders usually tend to provide loans to residents having B permits. If you are still in search of a job, you could show financial backup as security is needed to get the loan. We realize language may become an issue; opting for a company that provides English service is sure to make the job easier.

Loans in Switzerland

If you are wondering how to get a loan in Switzerland, further information could provide some light.

The difficulty lies for those who do not have a B permit or who are not residing in Switzerland for at least one year since most lenders tend to offer loans to expats with a B permit and have managed to be in the country for the required period at the time of application. However, there are a few lenders who also consider applicants residing for six months.

As a common rule, you are required to be employed on a full-time, unlimited basis to get approved for a loan in Switzerland. The best part lies in the option available to apply for an online loan in Switzerland as various companies have switched to the digital world. You could also use the loan calculator popular in Switzerland to find out your monthly EMI and the interest rate incurred.

While the majority of the expats are inclined towards a Personal loan to fulfill any financial need, there are companies offering great deals on car loans as well. You might want to make a down payment to enjoy better interest rates.

Personal loans

The ideal type of loan in case you only have your employment as proof of security is a Personal loan. Whether it is the new furniture you are planning to buy, or maybe you are short on the cash required for daily expenses, lenders are offering Personal loan in Switzerland for expats. Please note that credit rating is significant when applying for a loan. Also, since the loan is not against a tangible item, you would have to provide valid proof of salary.

The interest rate for a personal loan in Switzerland is between 4.5% and 10% compared to a home loan in Switzerland, which is lower. Hence, if it is a home that you are planning to buy, opt for a home loan instead and check the estimated EMI amount through a loan calculator popular in Switzerland. For more information on how to get a loan in Switzerland, re-read the instructions mentioned above. As for the personal loan, you should be holding a B permit, should have been residing in Switzerland for at least one year or, with some exceptions, at least six months if the residence is required.

Car loans

Despite the excellent connectivity in Switzerland, you are often in better hands when traveling through your vehicle. Having your own car could save time and ensure that you kick-start your morning with zero hassle. Are you planning to buy a car? Be smart and opt for a car loan in Switzerland instead of purchasing on your own.

Some lenders are offering auto loan in Switzerland for an interest rate starting from 4.4%. Besides that, you could also choose to make the down payment, which will result in a lowering of the interest rate. With the increased demand, car loans have now become a popular offering by the majority of lenders, and hence, you would face no difficulty when applying for one. It is equally essential to compare amongst the existing lenders so that you bag a great deal.

You sure don’t want to spend extra just because you lack the information. As compared to leasing, a car loan is more sensible. Plus, once the loan amount is paid, you get to enjoy the ownership of your car along with the unlimited benefits of having a personal vehicle around.

Before you decide on any loan, we recommend identifying your exact need so that you do not end up regretting later. While opting for a loan through any lender, ensure that you are vigilant and not falling into a trap. It might be wiser to opt for a bank or service provider that maintains transparency and does not con you with any hidden fees later during future banking operations.

Advantages of online loans in Switzerland

At some point in your life, you will need quick cash. At that moment, it will be quite hassle-full to go to your bank and apply for the loan application. This is where the online loan comes in the loan. Online loans have made it easy for people to secure a loan in the comfort of their house without any hassle and with quick approval.

The benefit of online loans is that they are quick, and the whole process, from the application to the amount sanctioned, will be done within 24 hours. You will get the needed cash without waiting for a long time. It is the best option when you are stuck in an emergency.

With the least paperwork involved during the loan process, you will get the money in your account within 24 hours. All you will have to do is to fill out the application, and you will be good to go.