German citizens have the option of receiving an express loan from Switzerland if they meet certain requirements. The most important requirement is a regular income. This income should result from employment or an official position. Otherwise, it will be very difficult with a loan from Switzerland and thus also with an urgent loan from Switzerland.
In any case, you should find out in advance exactly which requirements you have to meet and which conditions apply to Swiss lenders. This is the only way to make sure that you receive an express loan from Switzerland that meets your expectations. The uses for such a loan are very diverse. If it is not a car loan that can also be granted from Switzerland, a rush credit is freely available. This means that Swiss lenders are never interested in what you do with the money. You therefore do not have to provide proof of use.
Credit requirements – an urgent loan or a normal loan
If you want to get a loan from Switzerland, regardless of whether it is an urgent loan or a normal loan, you have to meet various requirements. These requirements are not identical to the requirements that German lenders place on your customers. The most important distinguishing feature between a German loan and a Swiss loan is that a Swiss loan is always a loan without credit checker. This means that credit checker information is generally not requested. There is no institution in Switzerland comparable to the credit checker. For this reason, German citizens who apply for a loan in Switzerland can also benefit from this fact.
When you apply for a Swiss loan, you have to expect that your income will be checked first. As a rule, only people with a fixed income have a chance to get a loan from Switzerland. This means that the self-employed or freelancers cannot receive a loan from Switzerland – neither an urgent loan nor any other loan.
This applies all the more to people who do only a minor job, who are unemployed or recipients of Hartz IV, or who are still in training or are studying.
Swiss banks are not only required to have a fixed income, but also to have an amount that makes borrowing from Switzerland appear justified. This is usually the case if the income is 80 USD or more per month above the garnishment-free limit. This value applies to singles without maintenance obligations. This value can of course vary for family members with children. Swiss banks provide specific information on this.
When applying for an express loan from Switzerland, you must provide proof that you have been with your current employer for at least one year. If you want to take out a loan amount of 7500 USD, this period can even be extended to four years, unless you have already received a loan without credit checker from Switzerland recently.
Loan terms available for an express loan
Different amounts of credit are available for an express loan from Switzerland. As a rule, Swiss banks lend between USD 3,000 and USD 5,000. In some cases, higher loan amounts are also possible. The loan amount will only be in the five-digit USD range in extremely rare cases. Lending without credit checker is always a certain risk for lenders. This risk increases the higher the loan amount and the longer the term of the loan. You also have to reckon with the fact that you have to pay higher debit interest for an express loan from Switzerland than for a conventional German bank loan.
In the case of individual loans from Switzerland, not only the loan amounts differ, but also the terms, the installments for the repayment and the methods of payment as well as the methods of repayment. You will generally receive an urgent loan from Switzerland in one amount and paid out immediately after approval. The form of payment is contractually agreed with you. A transfer to an account is just as possible as a cash payment. However, you do not have to travel abroad to do this, which would cause unnecessary journeys and costs. Rather, it is possible for you to receive the loan amount at the post office counter. If you so choose, the lender will send you a postal order that you can use to go to a post office counter. Another alternative would be a courier to send the money. This can be done directly at your home address or an alternative address of your choice.
Usable express loan and a car loan
In the case of an express loan from Switzerland, a distinction can generally be made between a freely usable express loan and a car loan. Only in the latter case is there a purpose limitation for a Swiss loan. Otherwise, it is not earmarked and you can use the money the way you want.
The money will then be repaid in monthly installments. Payment does not always have to start immediately after the loan payment. Rather, lenders often give their customers a break from payment. It can last for several weeks or several months. Only then is the first monthly payment due, which must then always be paid on the same date within a month. You should note that the monthly installment is composed on the one hand of a repayment amount and on the other hand of the debit interest for an urgent loan from Switzerland. The borrowing rates are usually somewhat higher than the borrowing rates that are due for a bank loan from Germany.