Discover the best personal loans in switzerland

Discover the best personal loans in switzerland

Do you need money?A personal loan is a loan that a so-called credit provider offers to a private person. Loan provider can be a bank, a credit institution or a credit intermediary. That distinguishes the private credit from the business credit. A business loan is given to a company. In Switzerland, personal loans are usually consumer loans. Means: they are used to finance purchases. This can be furniture, for example. To finance cars. Other vehicles there are special car loans.

A personal loan opens many possibilities

Depending on the provider, personal loans are also called cash loans, loans or small loans. You can finance just about anything with a personal loan: Most Swiss people use a personal loan to buy new furniture, a new TV set or a new washing machine. Others use their personal loan to finance their studies or further education. Basically, as a borrower, you are free to do what you want with the amount of credit received after the credit check has been completed.

The safest way to a personal loan

If you are looking for a personal loan, you have several options. Simple, but not without danger, is a loan from friends and acquaintances. For such a loan usually lacks legal certainty: loans between private individuals are often made without contracts. Or then with contracts that do not stand up to legal scrutiny. A personal loan from a bank or a credit broker is certainly a better solution. Because with a loan from a bank or a credit institution you have the comforting certainty that the contract is legally correct and the interest rate does not fall under the category of "usury. Moreover, repayment demands out of the blue are impossible. However, there are major differences between the various providers. For this reason, it is worthwhile to use a so-called comparison portal such as capitalo.Ch and compare the interest rates of different credit providers.

Widely used personal loans

Personal loans are among the most common loans in. They are virtually "on the agenda". Personal loans are often also called "cash credit" or "consumer credit". Whatever a bank or credit institution calls its consumer credit, it is always a credit for a private Swiss household, respectively for a private person with main residence in Switzerland. A personal loan can be used extremely flexibly. For example, as a consumer credit for daily purchases or as a low-cost alternative to often overpriced car leasing. People who have already taken out one or more personal loans can also use a cheap personal loan to reschedule their debts. Means: cancel your expensive, old loan and replace it with a new, cheap loan. This is how you can save money with a personal loan.

Creditworthiness determines the interest rate of loans

Personal loans are anything but cheap. Especially in Switzerland. It is therefore all the more important that you compare the conditions of the various providers. The most you can get an interest-free loan is from a good friend or a nice acquaintance. As a rule of thumb: the better your credit rating, the lower the interest rate. If no debt collection or loss certificates are pending, you have a good credit rating and nothing stands in the way of a positive credit check. In other words: You will most likely benefit from the lowest possible interest rate and save cash. Search at the comparison portal capitalo.Ch for a favorable personal loan, immediately receive a commitment that a loan is possible. This gives you security and you can apply for the desired loan with a click of the mouse. In other words: have a credit check carried out.

Decide on a reasonable repayment rate

In addition to creditworthiness, the amount of credit you want to borrow and the time you need to repay it have a big impact on the interest rate. The smaller the loan amount and the shorter the repayment period, the lower the interest rate. Therefore, only choose loan amounts and terms that you really need. On the flip side, don't kid yourself: Choose a repayment rate that you can afford in any case. If you do not want to take unnecessary risk, opt for an offer with integrated installment protection.

Pay off your personal loan early if possible

If possible, pay off your personal loan early. Almost all Swiss banks, credit institutions and credit brokers offer the option of repaying personal loans early. With some financial service providers this service is even free of charge. Others charge a fee. This usually varies between CHF 60.- and 150.-.

Replace expensive personal loans with a cheap one

If you have to pay high interest on your personal loan every month or even have to deal with several loans, it may be worthwhile to replace the old cash loan with a new, favorable loan. This process is called "loan redemption" or "debt restructuring". After a loan redemption or rescheduling, you will pay less interest and save cash every month. Personal loans are usually easy to cancel. However, most banks and credit institutions charge a fee if they are to terminate a personal loan prematurely. Therefore, get an offer for an inexpensive small loan in the first phase and then compare how much better you are doing with the new loan. In a second step, integrate the costs for the early redemption of your old loan into the calculation and check again whether the redemption of your old cash loan by a new loan is actually worthwhile. Depending on how high the outstanding amount is and how many installments are still due, you can quickly save credit costs of CHF 1,000.- and save more. Cancel the old contract but only when you have a written commitment from the new credit provider in hand.

Check your creditworthiness

Be sure to check your credit score before sending your application for a personal loan and avoid credit checks that you know in advance will be negative. If a bank or other credit institution rejects your request for a personal loan, this will result in an entry at the "Swiss Central Office for Credit Information" (ZEK). With such an entry, it is later difficult to impossible to get a personal loan in Switzerland – even with other banks and financial institutions.

Personal loan: maximum interest rate of 10%

Since 1. January 2003, the so-called Consumer Credit Act (KKG) regulates what must be written in a consumer credit agreement if the credit amount is between CHF 500.- and 80,000.- amounts to. Since July 2016, the KKG has also regulated the maximum interest a lender can charge for a small loan. Currently, the maximum interest rate is 10% for consumer loans and 12% for loans related to credit cards. However, competition is fierce and many banks and credit institutions charge significantly lower interest rates. Therefore, be sure to compare the conditions of different providers. The best way to do this is to use a comparison service such as capitalo.Ch.

Personal loan via capitalo.Ch

On capitalo.Ch you can quickly and easily compare the interest rate of different banks, credit institutions and other loan providers and apply for the desired loan amount online right away. Instead of the 10% allowed by law, you can obtain your personal loan through capitalo.Ch as a rule at a significantly lower interest rate. For example, with 4.4% effective annual interest rate. In addition, with capitalo.Ch a competent consultation. Extensive services.Ch offer competent advice and comprehensive services. How you benefit as a borrower with a consumer loan through capitalo.Ch month after month from particularly favorable interest rates and particularly small installments. You can conveniently repay these installments at the end of the month via direct debit (LSV). Another advantage that the comparison portal capitalo offers you.Ch offers: You can take out a personal loan, because you can via capitalo.Ch have applied for, repay it at any time without additional costs and fees. Another argument in favor of capitalo.Ch is the credit insurance. With this type of insurance, you can protect yourself from financial collapse if you become unemployed through no fault of your own. Some banks also refer to such insurance as installment protection.

Compare the conditions for your personal loan

Although the law prescribes what the maximum interest rate for a personal loan may be, there are large differences in interest rates in Switzerland. They vary considerably depending on the creditworthiness of the person applying for the loan, the amount of the loan and the term of the loan. For this reason, it is worth using a comparison portal such as capitalo.Ch to use and compare the interest rates of banks, credit institutions and other lenders with each other. With the credit calculator from capitalo.Ch you can choose the desired loan amount between CHF 5'000.- and 80,000.- as well as freely select the desired term between 12 and 84 months. Whatever loan amount and loan amount you have chosen: Capitalo.Ch carries out the credit check immediately and gives you the green light for your cash loan after just a few hours.

Apply for a personal loan easily online

With capitalo.Ch, you can apply for a personal loan easily and conveniently from the comfort of your own home and upload the necessary documents at the click of a mouse. All you need is a desktop computer, a laptop, a smartphone or a tablet. If you want a personal loan, simply upload the last three months' pay stub. In addition, proof of how much you have paid for rent or mortgage in the past three months. Including the balance. The third document, which you can download together with your application for a personal loan on capitalo.Ch is a copy of your identity card (ID) or passport. If you do not have Swiss citizenship, please upload your residence permit B or C in addition to your identity card or passport.

Immediate payment of your personal loan

As soon as you have uploaded your documents, the credit experts at capitalo will check.Ch your credit rating. After expiration of the legally prescribed cancellation period of 14 days the money is already on your account. You can cancel your loan agreement in writing at any time within this period. As a borrower, you do not even have to give a reason why you do not want to accept the customized cash loan offer.

Competent credit advice

Whether you have questions about the individual installments, would like to repay your loan early or have any other concerns about your personal loan: The credit experts at capitalo.We are always there for you by phone or e-mail. The expert advice and comprehensive services are free of charge and without obligation for all borrowers.

This is what you have to consider when applying for a loan

For a loan agreement, you must be between 18 and 63 years old, have Swiss citizenship or a B or C residence permit and have your main place of residence in Switzerland. The registered office of your employer must also be in Switzerland. In addition, you must have been employed for at least six months on a permanent basis and no longer be in the probationary period. Another requirement for a personal loan is that you act as a private person on your own account and in your own name, that no debt collection proceedings are pending against you and that you have no outstanding loss certificates. In addition, you must have a regular income. Must not be unemployed or self-employed.

The state protects people with a personal loan

No matter what interest rate the loan provider offers you: In Switzerland, you can be absolutely sure that it is not a usurious interest rate. The state takes care of that. It has defined an interest rate limit to protect consumers. In addition, each loan must offer a maximum level of security. This is what the Swiss Credit Consumption Act (KKG) requires. For this reason, credit providers have not been allowed to aggressively advertise express and instant loans, for example, since 2016. In addition, providers of small loans must thoroughly check the people who apply for a small loan. This includes occupational status, income, rent and other obligations reported to the Central Office for Credit Information (ZEK). In addition, lenders are required to check other documents that provide information about the creditworthiness of a person. These include an excerpt from the debt collection register as well as the pay slips for the last three months. In this way, the legislator protects borrowers from over-indebtedness – especially if they are not very liquid. Another protection provided by the state when granting cash loans is the waiting period of 14 days. Both the borrower and the lender can withdraw from the contract within this period, without having to give a specific reason for doing so. In this way, the state creates effective protection against hasty and imprudent borrowing.

Personal loan – what you need to consider

Many people who are looking for a small loan harm themselves. For example, because they submit credit applications too frequently. Therefore, do not apply for a small loan too often. Otherwise you run the risk that your ZEK entry will be given a negative code. In addition, if you have a ZEK entry, you block your chances of obtaining a favorable loan. Open debt collection and loss certificates prevent as good as any serious financing. Even if you have paid all outstanding bills, blocking periods of two to five years usually remain. Therefore, avoid debt collection and loss certificates – rather, apply for a loan in good time, with which you can pay your outstanding bills on time. Another mistake you should definitely not make when applying for a loan: Stick to the truth and always provide all information correctly!

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